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- Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.Net income and dividends The income statement of a corporation for the month of February indicates a net income of $32,000. During the same period, $40,000 in cash dividends were paid. Would it be correct to say that the business Incurred a net loss of $8000 during the month? Discuss.In an income statement. If the income is 426,000 and the expenses is 500,000. The result of operation is
- In an income statement. If the income earned is 523,200 and the expenses incurred is 123,000 the result of the operation isDuring the current year, the owners of A & J Industrial Supply Company invested $100,000 and withdrew $48,000. In the same time period, the company had revenues of $200,000 and expenses of $75,000. What is A & J's net income? a. $125,000 b. $177,000 c. $52,000 d. $275,000Wexler, Inc.’s income statement showed total expenses for the year to be $50,000. If the com-pany’s revenues for the year were $125,000 and its year-end cash balance was $35,000, what was Wexler’s net income for the year?
- A company had revenues for the month of $100,000 of that 40% of sales were on account and incurred $40,000 expenses and 25% of that was paid. What is the income in a) accrual b) cash?If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was: net loss of $35,000. net income of $35,000. net income of $14,000. net loss of $14,000Salem’s Accessory Shop started the year with total assets of $210,000 and total liabilities of $120,000. During the year the business recorded $330,000 in revenues, $165,000 in expenses, and dividends of $60,000. The net income reported by Salem’s Accessory Shop for the year was $120,000. $150,000. $195,000. $165,000.
- How do you make a company's financial statements for a year with expenditure as 25,000 and profit as 5,600?Crow inc. had revenues of $45,000 and net income of $3,400. What are the company's expenses ?A company's net income for the year is $150,000, total revenue is $800,000, and total expenses are $600,000. Calculate the company's profit margin.
