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- INCOME STATEMENT Year ended June 30 2022 2021 $'000 $'000Revenue 22450 18675Cost of sales 8475 8055Gross Profit 13975 10620Distribution costs 4245 3120Administrative expenses 1276 2134Selling expenses…2014 2013 Revenue $14,147,293 $13,566,296 Cost of goods sold $-8,447,560 $-8,131,586 Selling, general, andadministrative expenses $-998,843 $-980,283 Depreciation $-1,497,919 $-1,472,544 EBIT $3,202,971 $2,981,883 Interest expense $-376,259 $-355,627 Taxes $-1,074,151 $-997,977 Net income $1,752,561 $1,628,279 Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copy in order to paste its contents into a spreadsheet. Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash $191,068 $187,833 Accounts payable $1,546,427 $1,455,115 Investments…Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).Use the following information (in thousands):a. ¥126,000 d. ¥63,000Answer:1Sales revenue¥300,000 Gain on sale of equipment90,000 Cost of goods sold164,000 Interest expense16,000 Selling & administrative expenses30,000 Income tax rate30%Determine the amount of net income.Comparative income statement for Deep Sea Company for 2016 and 2015 are given below: 2016 (in $) 2015 (in $) Revenue 1123420 876530 Cost of Goods Sold 635780 458790 Gross Profit 487640 417740 Selling and General Expenses 156870 110980 Operating Profit 330770 306760 Intrest Expense 45890 40980 Income Before tax 284880 265780 Income tax expense 97650 82340 Net profit 187230 183440 Answer the next set of questions based on the above data. 7A. The Net profit percerntage to revenue is ___________ . 25.15% 16.67% 12.15% 20.55% 7B. The Gross profit…
- What is the net income for the year if the net revenue from by-product is treated as deduction from the cost of goods sold? Group of answer choices d. P118,000 b. P230,000 a. P200,000 c. P218,000THE ATHLETIC ATTICIncome StatementFor the Year Ended December 31, 2024Net sales $8,900,000Cost of goods sold 5,450,000Gross profit 3,450,000Expenses: Operating expenses $1,600,000 Depreciation expense 210,000 Interest expense 50,000 Income tax expense 360,000 Total expenses 2,220,000Net income $1,230,000 THE ATHLETIC ATTICBalance SheetsDecember 31 2024 2023Assets Current assets: Cash $164,000 Accounts receivable 790,000 Inventory 1,405,000 Supplies 110,000Long-term assets: Equipment 1,150,000 Less: Accumulated depreciation (420,000) Total assets $3,199,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $115,000 Interest payable 0 Income tax payable 40,000 Long-term liabilities: Notes payable 600,000 Stockholders' equity: Common stock 700,000…Comparative income statement for Deep Sea Company for 2016 and 2015 are given below 2016 ( in $) 2015 ( in $) Revenue 1123420 876530 Cost of Goods Sold 635780 458790 Gross Profit 487640 417740 Selling and general Expense 156870 110980 Operating Profit 330770 306760 Interest Expense 45890 40980 Income Before Tax 284880 265780 Income Tax expenses 97650 82340 Net Profit 187230 183440 Prepare the common size income statement of Deep Sea Company for 2016 and 2015. Enter the numbers without decimals. Do not round off the numbers. Add % sign after the numbers.…
- Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in Millions. Income Statement Total Sales213.8 Cost of Sales151.3 Gross Profit213.8-151.3 Selling and Administrative Expenses22.3 Research and Development 7.7 Depreciation and Amortization4.5 Other Income2.4 EBIT213.8-151.3-22.3-7.7-4.5+2.4 Interest Expense5.8 Pretax Income213.8-151.3-22.3-7.7-4.5+2.4-5.8 Taxes( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.30 Net Income( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.70 Balance Sheet Assets Liabilities Cash65.8Accounts Payable43.3Accounts Receivable54.4Notes Payable/Short term debt1.6Inventories4.4 Total Current Assets65.8+54.4+4.4Total Current Liabilities43.3+1.6 Net property, plant and equipment103.4Long-term debt80.0Total long-term assets103.4Total long-term debt liabilities80.0 Total Liabilities43.3+1.6+80.0 Stockholders' Equity (Total Equity)65.8+ 54.4+4.4+103.4-43.3-1.6-80.0Total…solve The Arc 95-9876556 Income Statement For the Year Ended December 31, 2021 Revenue: Gross Sales $144,000.00 Less: Sales Returns and Allowances - Net Sales $144,000.00 Cost of Goods Sold: Beginning Inventory $10,500.00 Add: Purchases 62,200.00 $72,700.00 Less: Ending Inventory 10,100.00 Cost of Goods Sold 62,600.00 Gross Profit (Loss) $81,400.00 Expenses: Dues and Subscriptions - Estimated Federal Tax Payments 4,000.00 Estimated State Tax Payments 3,900.00 Insurance 3,950.00 Meals and Entertainment 1,500.00 Miscellaneous - Payroll Taxes 3,800.00 Professional Fees 1,700.00 Rent 8,400.00 Travel 1,250.00 Utilities 1,300.00 Vehicle Expenses - Wages 25,000.00 Total Expenses 54,800.00 Net Operating Income $26,600.00 How to calculate capital gain step by step answer"Keeper Corporation’s income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow.Keeper CorporationIncome StatementFor the Year ended June 30, 2014Sales$234,000Cost of goods sold156,000Gross margin$78,000Operating expenses45,000Operating income$33,000Interest expense2,800Income before income taxes$30,200Income taxes expense12,300Net income$17,900Keeper CorporationComparative Balance SheetsJune 30, 2014 and 201320142013AssetsCash$69,900$12,500Accounts receivable (net)21,00026,000Inventory43,40048,400Prepaid expenses3,2002,600Furniture55,00060,000Accumulated depreciation—furniture(9,000)(5,000)Total assets$183,500$144,500Liabilities and Stockholders’ equityAccounts payable$13,000$14,000Income taxes payable1,2001,800Notes payable (long-term)37,00035,000Common stock, $10 par value115,00090,000Retained earnings17,3003,700Total liabilities and stockholders’ equity$183,500$144,500Keeper issued a $22,000 note payable for purchase of…