Sandhill Corporation had revenues of $858,030 in 2017. It also had expenses (excluding depreciation) of $356,240, depreciation of $103,471, and interest expense of $52,414. What was the company’s net income after taxes if its average tax rate was 40 percent? (Round answer to 2 decimal places, e.g. 15.25.)

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A: Income Statement - This statement shows the income earned and loss incurred by the organization in…

Q: Minton Corp.'s income statement for the year ended Dec 31,2014 is as follows: 0- Depreciation and…

A:

Q: The following data come from the financial records of Rundle Corporation for 2018: How many times…

A: Time interest earned ratio measure the ability of the company to meet its obligations of debt. It is…

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Q: During the year, the Senbet Discount Tire Company had gross sales of $538,900. The company's cost of…

A: Net Income = $125,522   Operating cash flow = $ 187,622

Q: Frezia Corp.'s total assets at the end of last year were P315,000 and its net income after taxes was…

A: Return on total assets = Net Income/ Avg. total assets

Q: The formula for determining the rate earned on total assets is Net Income + Interest Expense/Average…

A: Rate earned on total assets = (Net Income + Interest Expense)/Average Total Assets.

Q: REVENUE AND EXPENSE DATA FOR SOLDNER, INC ARE AS FOLLOWS; SALES          2014    1,500,000…

A: Gross profit=Sales-COGS Net profit=Gross profit-Expenses

Q: During the year, Belyk Paving Co. had sales of $2,380,000. Cost of goods sold, administrative and…

A: The operating income is the income of the company that is generated after all the operating expenses…

Q: During 2018, Evensen Network , Inc., which designs network services, earned revenues of $900…

A: ACCRUAL ACCOUNTING requires revenue and expenses to be recorded in the accounting period that they…

Q: In recent year Palestine Corporation had a net income of $12,500, interest expense of $2,500, and a…

A: Given: Net income = $12,500 Interest expense = $2,500 Times interest earned = 9

Q: What is the firm’s depreciation and amortization expense if its average tax rate is 34 percent

A: Depreciation is the systematic allocation of cost of a tangible asset over its useful life.…

Q: Sandhill Rental Company provided the following information to its auditors. For the year ended March…

A: An income statement is a financial statement that shows the company's financial position. While…

Q: ACME Corp’s balance sheet reported that it had $650,000 in liabilities and $275,000 in equity. On…

A: Return on  Assets: Return on assets (ROA), also known as return on total assets, is a measurement of…

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: Parsnip, Inc.'s, net income for the most recent year was $9,512. The tax rate was 3030 percent. The…

A: Given the following information: Net income: $9,512 Tax rate: 30% Total interest expense paid:…

Q: Reynolds Corp's total assets at the end of last year were $300,000 and its net income after taxes…

A: The return on total assets (ROA) compares a company's total assets with the amount of money it…

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: he Alabaster Corp. reported Net sales of 6.7 million,operating costs of 4.3 million, and…

A: Net income is the excess of revenue over all the operating and other expenses of the company…

Q: Delta Ray Brands Corp. just completed their latest fiscal year. The firm had sales of $16,818,300.…

A: Given, Sales = $16,818,300 Depreciation and amortization = $830,300 Interest expense = $872,000…

Q: You are given the following information about Sheridan Plumbing Company. Revenues in 2017 totaled $…

A: The income statement description seems to be a financial statement that typically illustrates a…

Q: For the past year, Momsen, Ltd., had sales of $46,577, interest expense of $3,932, cost of goods…

A: “Statement of Profit & Loss” is a financial tool which shows profitability of business. It shows…

Q: For its fiscal year ending October 31, 2022, Sarasota Corp. reports the following partial data shown…

A: The profitability status of the company can be arrived from the income statement prepared by the…

Q: Rowen, Inc. had pre-tax accounting income of $1,672,000 and a tax rate of 40% in  2015, its first…

A: Particulars Amount Pre-tax accounting income $1,672,000 Add: Received rent from Jane, Co. for…

Q: Last year, Bad Tattoo Company had additions to retained earnings of $4,270 on sales of $94,090. The…

A: Depreciation is the reduction in the value of an asset over a useful life of the asset. It is an…

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

A: Depreciation refers to the method through which the costs of the assets is being allocated over the…

Q: The following information has been reported by Laporte Inc. on its statements of financial position…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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: Home Depot entered fiscal 2017 with a total capitalization of $21,883 million. In 2017, debt…

A: The question gives the following information:

Q: Following is the income statement for Nordstrom Company. Assume that the combined federal and state…

A:

Q: Ivanhoe Corporation reported EBITDA of $7,300,325 and net income of $3,328,700 for the fiscal year…

A: Cash flow from operating activities (CFO) depicts the amount of money brought in by the company from…

Q: In its 2014 annual report, Campbell Soup Company reports beginning-of-the-year total assets of…

A:

Q: Target industries reported $11,500 of sales and $5,000 of operating costs (including depreciation).…

A: A method that helps to measure a company’s financial performance by deducting the overall cost of…

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: Cullumber Corporation had revenues of $875,030 in 2017. It also had expenses (excluding…

A: Calculation of Income After tax    Amount  Revenue  $ 875,030 Less: Expenses   Depreciation…

Q: Following are income statements for Hossa Corporation for 2017 and 2016. Percentage of sales amounts…

A: The question is based on the concept of Accounting for Decision making

Q: In 2016, the Allen corporation had sales of $63 million, total assets of $44 million, and total…

A: Operating profit margin  = 14% of sales = 14% of $63 million = $8,820,000   Now interest rate = 5.7%…

Q: In 2016, the Allen Corporation had sales of $62 million, total assets of $47 million, and total…

A: Given the following information: Sales: $62,000,000 Total assets: $47,000,000 Total liabilities:…

Q: In the recent year Hill Corporation had net income of $140,000, interest expense of $40,000, and tax…

A: Net Income before interest and taxes = Net income + Interest expense + Tax expense Net Income before…

Q: what is its net income after taxes? (R

A: Given information is: the company had revenues of $877,800, general and administrative expenses of…

Q: National Company's net income last year was P65,000 and its interest expense was P15,000. Total…

A: The return on total assets is calculated as net income divided by average total assets.

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.