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In-s [12.5K]
3 years ago
14

Marcy's, Inc., operates two well-known high-end department store chains in North America. Marcy's and Bloomingdale's. The follow

ing simplified data (in millions) were taken from its recent annual report for the year ended February 1: Cost of sales $ 15,651 Federal, state, and local income tax expense 365 Interest expense 377 Interest income 6 Net sales 25,988 Other operating expenses 587 Selling, general, and administrative expenses 8,285 Required: Prepare a complete classified (multiple-step) consolidated statement of income for the company (showing gross margin, operating income, and income before income taxes). (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
Business
1 answer:
marin [14]3 years ago
4 0
Nsjsjd. didoeie . sidoeoeek
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Lesa drives her car approximately 18,000 miles per year. During the most recent year, she drove 7,000 miles commuting to and fro
White raven [17]

Answer:

The answer is: 4,500 miles

Explanation:

Lesa can only deduct 4,500 miles as transportation expenses form her taxable income. She could include any other related expenses like parking fees, tolls, etc., that she spent during her business related trips.

The 7,000 miles she drove to and form work are not considered business expenses, since going to work is not an actual part of working. It's like an employee trying to get paid for the time he or she spends in a bus going to work.

3 0
3 years ago
Which one of the following statements concerning venture capital financing is incorrect? Multiple Choice Venture capitalists des
ziro4ka [17]

Answer:

The incorrect statement about Venture capitalists is:

Venture capitalists usually assume active roles in the management of the financed firm.

Explanation:

Venture capitalists are high net worth individuals with managerial competence or experience seeking for new businesses to invest in. In exchange, they ask for an equity stake in the company they finance.

Venture capital financing is the type of funds that are given to invested into viable businesses in their budding stage by investors that see long term growth potential in them. it is a form of private equity.

Venture Capitalist never assume active roles in the management of the financed firm. however, if they have the technical know how, they may pitch in passively from time to time to advice.

3 0
3 years ago
Jamarcus, a full-time student, earned $2,500 this year from a summer job. He had no other income this year and will have zero fe
Ne4ueva [31]

Answer:

The correct answer is: No, Jamarcus is not required to file a tax return.

Explanation:

According to the Internal Revenue Service (<em>IRS</em>) requirements for 2019, taxpayers who are single under 65 years-old with an income of <em>$12,200</em> or higher must file a tax return. Taxpayers who are 65 years old or older with an income of <em>$13,850</em> or higher are also obligated to report their income to the IRS.

Thus, <em>as Jamarcus' income for the year was $2,500 only, he is not required to file a tax return</em>.

4 0
4 years ago
According to the results, if a CEO in the Financial industry and a CEO in the Health Care industry both have 88 years of experie
hram777 [196]

Answer: $19,032.79

Explanation:

There is some data missing that I was unable to find so I will answer a similar question and can use your data to answer this using mine as a reference.

Because the healthcare industry is the base industry, the estimated difference in the annual salary is:

= 0 - Coefficient of Financial industry

= 0 - (-19,032.787112)

= 0 + 19,032.787112

= $19,032.79

4 0
3 years ago
What are the three activities according to which a statement of cash flows is organized?
HACTEHA [7]

Operations, Investing and Financing are the three activities according to which a statement of cash flows is organized.

Cash flow refers to the net balance of cash moving into and out of a business at a specific point in time. Cash is consistently moving into and out of a business.

For example- When a retailer purchases inventory, money flows out of the business toward their suppliers.

To learn more about

brainly.com/question/735261

#SPJ4

8 0
2 years ago
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