Company XYZ, Inc. reported a total sales revenue of P15,000,000 of which 20% pertains to the cost of goods sold. In addition, operating expenses in the most reporting period were P240,000 in salaries, P750,000 in rent, P300,000 in utilities and P150,000 in depreciation. Interest expense for the period amounted to P2,500,000. Tax rate is 30%. Determine the interest coverage ratio using EBIT.

Q: An annual income statement from Quest Realty, Inc. is shown below: Revenues Revenue from sales of…

A:

Q: Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling expenses, and…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Last year, the gross billings for merchandise made by ABC Company amounted to P15,720,000, purchase…

A: Solution: Net Cost of purchase = Purchases - Purchase return and allowances - purchase discount +…

Q: Ever Manufacturers had sales of $900,000 in 2006 and their cost of goods sold represented 65 percent…

A: Given, Sales =$900,000 COGS =65% of sales = $900,000*65% = $585,000 Selling and Administrative…

Q: Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating expenses…

A:

Q: OI Corporation, a manufacturer, has a gross sales of P90,000,000.00 for CY 2021, its fifth year of…

A: Taxable income is the net income earned by an individual on which the tax is payable. It is…

Q: Crane reported the following information for its fiscal year end: On net sales of $ 53.000 billion,…

A:

Q: a company reported a sale revenue for $700000. the gross profit margin is 60% and the selling…

A: The income statement is one of the essential parts of the financial statement used for reporting the…

Q: A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and…

A: Profit margin = Net profit / Sales * 100

Q: Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods…

A: Times interest earned ratio = Earnings before interest and taxesInterest expense

Q: A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling…

A: Definition: Net income: Net income is the excess amount of revenue that arises after deducting all…

Q: Staycate Travels Inc. reports a gross profit of $35,000, interest expense of $4,000, a tax rate of…

A: Formula used: Earnings after Tax = [ Gross profit - Interest expense - Depreciation expense ] x [ 1…

Q: During 2015, Al-Ahd Corp. had sales of $950,000. Cost of goods sold, administrative and selling…

A: The term gross profit represents gross earnings generated after subtracting all production costs…

Q: Tulip Company provided the following information for the current year: Sales 9,500,000 250,000…

A:

Q: Sage Hill Corporation had sales of $3,360,000 for the year ended December 31, 2022. The unit selling…

A: The income statement shows the net income or net loss of the company. It is calculated by deducting…

Q: Denali Limited, a manufacturing company, had the following income statement information: Revenue…

A: The gross profit is the net selling profits of business less its product expense sold (COGS). In…

Q: Anson Industries, Inc. reported the following information on its 20Y1 inco Sales $4,000,000 Cost of…

A: Income Statement – Income Statement is a statement that indicates the net income of a business…

Q: ASG Corporation has the following data in their accounting books Sales-P1,000,000 Cost of Sales…

A: Introduction: Income statement: All revenues and expenses are to be show in income statement. It…

Q: Below is the Income Statement of Babana Inc. for the current year:   Sales 18,000,000 Less: Cost…

A: Net Income is the income after reducing all the expenses including income tax. The calculation is…

Q: A company has sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals:

A: Sales - Cost of goods sold = Gross profit

Q: In its income statement for the year ended December 31, 2022, Swifty Corporation reported the…

A: The income statement is one of the essential part of the financial statements used for reporting the…

Q: ABC Company prepared the following income statement for the year 2020:                 Sales…

A: Income statement is a statement that shows the total incomes and expenditure incurred or generated…

Q: For the past year, Momsen Limited had sales of $45,017, interest expense of $3,308, cost of goods…

A: Net income is overall profit received by the company after providing the operating expenses and the…

Q: For the past year, Momsen, Ltd., had sales of $44,042, interest expense of $2,918, cost of goods…

A: Sales of $44,042 Interest Expense is $2,918 Selling and admin. Expense is $10,626 Depriciation isn…

Q: Rogue Industries reported the following items for the current year: Sales = $3,000,000; Cost of…

A: Gross profit is the difference between Sales and cost of goods sold.

Q: During the past year, the company’s financial results reflected the following: Selling, general,…

A: Gross profits refers to the difference of sales and direct costs associated with production.

Q: During the year, Belyk Paving Co. had sales of $2,600,000. Cost of goods sold, administrative and…

A: Calculate the net income as follows:

Q: The revenue is $40,000, the cost of goods sold is $26,000, the selling, general and administrative…

A: Earnings before tax(EBT) measures a companies profitability before income taxes are factored.

Q: Henry Company had sales revenue of USD1,200,000, gross profit of USD749,000, operating expenses of…

A: Income tax expense refers to the expense amount which company records in the accounting period for…

Q: For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191…

A: Gross margin: Difference between the sales and the cost of goods sold is called gross margin. Gross…

Q: Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling expenses, and…

A: The question is based on the concept of Financial Management.

Q: The Rollings Company had sales of $1,000 with cost of goods sold (COGS) equal to 30% of sales.…

A: Introduction: Net income refers to the after-tax income of an individual.  Net income can also be…

Q: Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating expenses…

A:

Q: The following selected data are taken from the financial statements of Redwood Enterprises: Sales…

A: Part 1) Sub Part (1) Meaning of Return on Sales: -  The return on sales is a ratio used to derive…

Q: The income statement of Orange Company showed the following figures: Revenues 750,000 Cost of Goods…

A: EBITDA = Operating income + Interest expense + Annual Depreciation where, Annual depreciation on…

Q: Consider the following data from the financial statements of Stevenson Company, which has a tax rate…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Arco Steel, Inc. generated total sales of $45,565,200 during fiscal 2010. Depreciation and…

A: EBIT: EBIT means Earnings before interest and tax. It is also referred to as Operating income, and…

Q: During 2010. Raines Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and…

A: Net income is the amount of money earned by an entity after deducting all the expense either…

Q: Al Mawarid Construction Equipment LLC has provided following Income Statement for the year ending…

A: The gross profit ratio can be calculated as gross profit divided by total sales  The operating…

Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $…

A: Lets understand the basics. Profit margin have two types which are, (1) Gross profit margin (2) Net…

Q: The company recorded a net loss of P245,000 for the year just ended. Total operating expenses was…

A: Formula: Net Profit = Gross Sales – Sales Discounts – Cost of Sales – Operating Expenses

Q: Holly Farms has sales of S509,600, costs of $448,150, depreciation expense of $36,100, and interest…

A: Here, Sales is $509,600 Costs is $448,150 Depreciation Expense is $36,100 Interest Paid is $12,400…