Assuming, the taxpayer is a domestic corporation, how much is the regular corporate income tax?
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Assuming, the taxpayer is a domestic corporation, how much is the regular corporate income tax?
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- Macon Mills is a division of Bolin Products. Inc. During the most recent year, Macon had a net income of $40 million. Included in the income was interest expense of $2,800,000. The companys tax rate was 40%. Total assets were $470 million, current liabilities were $104,000,000, and $72,000,000 of the current liabilities are noninterest bearing. What are the invested capital and ROI for Macon?Ecare Berhad has the following income statement items for 2021: Revenue/Sales RM4,801,139 Finance costs/Interest expense RM293,938 Other items of income RM38,552 Cost of sales (COGS) RM3,917,144 Income tax expenses 35% of taxable income Dividend payment 40% of net profit What is the amount of the firm's earning before tax? Select one: a. RM628,609 b. RM590,057 c. RM408,596 d. RM883,995Denver, Incorporated, has sales of $27 million, total assets of $24.9 million, and total debt of $5.7 million. Assume the profit margin is 9 percent. a. What is the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) b. What is the company's ROA? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the company's ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
- Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to findConsider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATIONIncome Statement Sales $ 47,600 Costs 35,600 Taxable income $ 12,000 Taxes (25%) 3,000 Net income $ 9,000 Dividends $ 3,000 Addition to retained earnings 6,000 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "0" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Percentage of Sales Assets…) Indicate the immediate effects (increase, decrease, no effect) of each of the following independent transactions on (1) the rate of return on shareholders’ equity, (2) the current ratio, and (3) the liabilities to assets ratio. State any necessary assumptions. A firm purchases, on account, merchandise inventory costing $205,000. A firm sells for $150,000, on account, merchandise inventory costing $120,000. A firm collects $100,000 from customers on accounts receivable. A firm pays $160,000 to suppliers on accounts payable. A firm sells for $10,000 a machine costing $40,000 and with accumulated depreciation of $30,000. A firm declares dividends of $80,000. It will pay the dividends during the next accounting period. A firm issues common stock for $75,000. A firm acquires a machine costing $60,000. It gives $10,000 cash and signs a note for $50,000 payable five years from now for the balance of the purchase price.
- The most recent financial statements for Zoso, Inc are shown here assuming no income taxes: income statement: sales $4,200, cost 3,450, net income $750, assets $14,600, total $ 14,600, debt $11,100, equity 3,500, total $14,600. Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $5,970. What is the external financial needed?The figures shown in the table below are an extract from the accounts of Ridgeway (capital employed is$1.5m).$Revenue 1,000,000Cost of sales 400,000Gross profit 600,000Distribution expenses and administration cost 300,000Profit before interest and tax 300,000Finance cost 50,000Profit before tax 250,000Income tax expense 100,000Profit after tax 150,000What is the return on capital employed (ROCE)?Denver, Incorporated, has sales of $13 million, total assets of $11 million, and total debt of $6.4 million. Assume the profit margin is 6 percent. a. What is the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) b. What is the company's ROA? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the company's ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Net income b. ROA % c. ROE %
- Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of goods sold 215,000 Gross profits $ 350,000 Less: Other operating expenses 90,000 EBITDA $ 260,000 Less: Depreciation and amortization 15,000 EBIT $ 245,000 Less: Interest 80,000 EBT $ 165,000 Less: Taxes Net income $ Determine the firm's 2021 net income. (Round your answer to the nearest dollar amount.) Tax Liability- Say's that 34,650 and 130, 350 are wrong. Can you help? Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Determine the firm's 2021 marginal tax rate.The Jacks corporation reported the following:i. Net income $ 840,000.00ii. Accounts payable and accruals $1,270,650.00iii. Interest expense $ 305,000.00iv. Return on asset 16%v. Tax rate 30%As the company’s business analyst, you know that Jacks finances only with debt and equity. 45%of its total invested capital is debt. Calculate and interpret the basic earnings power ratio, thereturn on equity, and the return on invested capital. Please show workConsider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATIONIncome Statement Sales $ 42,900 Costs 33,900 Taxable income $ 9,000 Taxes (21%) 1,890 Net income $ 7,110 Dividends $ 3,400 Addition to retained earnings 3,710 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "0" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Percentage of Sales Assets…
