Please answer me with clear format, weather hand-writing or typing Q3 Fill in the missing mumbers for the following income statement. (Input all amounts as positive values.)SHOW ALL CALCULATION STEPS AND COMPLETE THE MISSING NUMBERS IN THETABLESalks682,900437,800110,400CostsDepreciationЕBITTaxes (34%)2$Net incomea) Calkulate the EBIT (show all the required steps and the equation)b) Calkuate the Net Income (show all the required steps and the equation)c) Calculate the OCF (show all the required steps and the equation)

a) EBIT=Sales-COGS-Operating expenses

Fill in the missing mumbers for the following income statement. (Input all anounts as positive values.) SHOW ALL CALCULATION STEPS AND COMPLETE THE MISSING NUMBERS IN THE TABLE Sales Costs Depreciation 682,900 437,800 110,400 EBIT Taxes (34%) Net income a) Cakulate the EBIT (show al the required steps and the equation) b) Cakuate the Net Income (show all the required steps and the equation) c) Calkulate the OCF (show all the required steps and the equation)

Fill in the missing mumbers for the following income statement. (Input all anounts as positive values.) SHOW ALL CALCULATION STEPS AND COMPLETE THE MISSING NUMBERS IN THE TABLE Sales Costs Depreciation 682,900 437,800 110,400 EBIT Taxes (34%) Net income a) Cakulate the EBIT (show al the required steps and the equation) b) Cakuate the Net Income (show all the required steps and the equation) c) Calkulate the OCF (show all the required steps and the equation)

Corporate Financial Accounting

15th Edition

ISBN:9781337398169

Author:Carl Warren, Jeff Jones

Publisher:Carl Warren, Jeff Jones

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.7BE: To determine: Times interest earned ratio Given info: Income before income tax and interest expense....

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On a worksheet, the Income Statement debit column equals P798,000 and the credit columnequals P710,000. Which of the following statements is correct? a. The company realized a net income of P88,000 and it must be added to the Income Statementcredit column and the Balance Sheet debit column to complete the worksheet.b. The company incurred a net loss of P88,000 and it must be subtracted from the Income Statementdebit column and the Balance Sheet credit column to complete the worksheet.c. The company incurred a net loss of P88,000 and it must be added to the Income Statement creditcolumn and the Balance Sheet debit column to complete the worksheetd. The company realized a net income of P88,000 and it must be subtracted from the IncomeStatement credit column and the Balance Sheet credit column to complete the worksheet.
Read each definition below and write the number of the definition in the blank beside the appropriate term. The quiz solutions appear at the end of the chapter. Understandability Relevance Faithful representation Comparability Depreciation Consistency Materiality Conservatism Operating cycle Current asset Current liability Liquidity Working capital Current ratio Single-step income statement Multiple-step income statement Gross profit Profit margin Auditors report An income statement in which all expenses are added together and subtracted from all revenues. The magnitude of an accounting information omission or misstatement that will affect the judgment of someone relying on the information. The capacity of information to make a difference in a decision. An income statement that shows classifications of revenues and expenses as well as important subtotals. The practice of using the least optimistic estimate when two estimates of amounts are about equally likely. The quality of accounting information that makes it comprehensible to those willing to spend the necessary time. Current assets divided by current liabilities. The quality of information that makes it complete, neutral, and free from error. An obligation that will be satisfied within the next operating cycle or within one year if the cycle is shorter than one year. Current assets minus current liabilities. Net income divided by sales. For accounting information, the quality that allows a user to analyze two or more companies and look for similarities and differences. An asset that is expected to be realized in cash or sold or consumed during the operating cycle or within one year if the cycle is shorter than one year. The ability of a company to pay its debts as they come due. For accounting information, the quality that allows a user to compare two or more accounting periods for a single company. The process of allocating the cost of a long-term tangible asset over its useful life. The period of time between the purchase of inventory and the collection of any receivable from the sale of the inventory. Sales less cost of goods sold. The opinion rendered by a public accounting firm concerning the fairness of the presentation of the financial statements.
To determine: Times interest earned ratio Given info: Income before income tax and interest expense. Solution: Calculate interest earned ratio. Times-interest-earnedratio}=Incomebeforeincometax+InterestexpenseInterestexpense=8,000,000+500,000500,000=17.0times Explanation: Times interest earned ratio quantifies the number of times the earnings before interest and taxes can pay the interest expense. First, determine the sum of income before income tax and interest expense. Then, divide the sum by interest expense. Formula: Times-interest-earnedratio}=Incomebeforeincometax+InterestexpenseInterestexpense Conclusion: Therefore, times interest earned ratio is 17.0 times.
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Give only typing answer with explanation and conclusion Byron Books Inc. recently reported $18 million of net income. Its EBIT was $34.3 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $18 million of net income by (1 - T) = 0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.) Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations.
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