American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and $220, 000 respectively Ameri
can also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 35%. Required:
a. What is the company’s net income? Show work.
b. What is the companies operating cash flow? Show work
<span>Bonds are actually a type of borrowing or loans most businesses and governments use. They represents an alternative to the common bank loans, however they enable loan of higher amounts of money, that governments need but ordinary banks are not able to provide.</span>
Answer: Changes in equity for a period from all sources except those by non-owner sources.
Explanation: In simple words, comprehensive income refers to those transactions that were not realized before so they later get recorded in the income statement.
These transactions usually results in increase in shareholders equity. Usually such transactions involve unrealized gain or loss from available for sale securities or foreign currency transactions.
