Answer:
Explanation:
Comparative income statements for Williamson is presented below:
Particulars 2017 2016 2015
Income before income tax $180,000 $145,000 $170,000
Less:Income tax $54,000 $43,500 $51,000
Net income $126,000 $101,500 $119,000
The income tax is computed below:
For 2017
= $180,000 × 30%
= $54,000
For 2016
= $145,000 × 30%
= $43,500
For 2015
= $170,000 × 30%
= $51,000
Answer:
Gross margin= $40,000
Explanation:
Giving the following information:
Per-unit product cost: $30
Gross margin percentage:40%
Selling and administrative expenses $30,000
Operating income$10,000
We know that:
operating income= gross margin- selling and administrative income
10000= gross margin- 30000
40000= gross margin
To answer this item, we let x be the current number of chairs. After adding 50 chairs to the current inventory, the total number of chairs would then be equal to x + 50. The equation that would allow us to determine the value of x is written below.
x + 50 = (3/2)(x)
Simplifying the equation,
x + 50 = 3x/2
x - 3x/2 = -50
-x/2 = -50
Dividing both sides of the equation by -1/2, the value of x is equal to 100.
To increase the inventory by 40%, the equation would be,
y = x(1.4) = 1.4(100) = 140
<em>ANSWER: 140 chairs</em>
Answer:
$1.75
Explanation:
Earnings per share to be reported = Earnings per share of commo stock * (1 - 4%)
Earnings per share to be reported = $1.82 * 96%
Earnings per share to be reported = $1.7472
Earnings per share to be reported = $1.75
So, the 2019 earnings per share to be reported in the annual report for 2020 are $1.75.
