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viva [34]
3 years ago
14

Use the following information for Jake Company: Sales Revenue .......................................... $2,000,000 Interest/Div

idend Revenue .................. 50,000 Cost-of-Goods- Sold ............................ 1,000,000 Selling and Administrative Expenses.. 200,000 Loss on Discontinued Operations ..... 100,000 Unearned Revenue .............................. 100,000 What is Net Income for the Year Ended December 31, 2020 (ignore taxes)
Business
1 answer:
sashaice [31]3 years ago
6 0

Answer: $750,000

Explanation:

Net Income

Sales Revenue                                 2,000,000

Interest/ Dividend Revenue      <u>          50,000</u>

                                                         2,050,000

Cost of Goods sold                         (1,000,000)

Selling and Admin expenses            (200,000)

Loss on Discontinued                       <u> (100,000)</u>

Net Income                                        $750,000

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3 years ago
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8 0
2 years ago
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2 years ago
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Aleonysh [2.5K]

Answer:

D. Market maturity

Explanation:

Over the past several years, like other auto manufacturers, General Motors (GM) has introduced many new models of sport utility vehicles (SUVs) in all of its major divisions. This proliferation of SUVs and an increase in gasoline prices have caused sales to level off. In response, General Motors offered rebates of up to $5,000, or no-interest financing, on selected models of SUVs. The largest rebates went to current owners of GM vehicles, so that they would replace their current vehicles with a GM model instead of switching to another brand. The rebates have been heavily advertised on national television. Profit margins per vehicle have shrunk as a result of these costly promotions.

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3 years ago
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Pani-rosa [81]

Answer:

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