Revenue Cost of sales Salaries and wages Other costs Profit before interest and tax Interest Tax Profit after interest and tax Dividends payable Shareholders' funds Long term debt Current assets Current liabilities Receivables Payables Inventory Number of shares in issue ('000) P/E ratio (average for year): VAG Inc. Industry K'000 74,521 28,256 20,027 11,489 14,749 1,553 4,347 8,849 4,800 39,900 14,000 20,000 9,500 15,500 8,000 3,000 14,000 14.0 15.2 K'000 68,000 25,772 19,562 9,160 13,506 1,863 3,726 7,917 3,100 35,087 17,500 19,700 8,600 16,300 7,900 3,100 14,000 13.0 15.0

Revenue Cost of sales Salaries and wages Other costs Profit before interest and tax Interest Tax Profit after interest and tax Dividends payable Shareholders' funds Long term debt Current assets Current liabilities Receivables Payables Inventory Number of shares in issue ('000) P/E ratio (average for year): VAG Inc. Industry K'000 74,521 28,256 20,027 11,489 14,749 1,553 4,347 8,849 4,800 39,900 14,000 20,000 9,500 15,500 8,000 3,000 14,000 14.0 15.2 K'000 68,000 25,772 19,562 9,160 13,506 1,863 3,726 7,917 3,100 35,087 17,500 19,700 8,600 16,300 7,900 3,100 14,000 13.0 15.0

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
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.
Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.
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