Use the following information to build an income statement and answer the following question: Sales of $760.000, current assets of $5,400,000 net fixed assets of $28,100,000, and long-term debt of $10,600,000, costs of $316,000, depreciation expense of $39.000, interest expense of $34,000, current liabilities of $4,100,000, and a tax rate of 21 percent. The firm paid out $150,000 in cash dividends and has 100,000 shares of common stock outstanding. What is the addition to retained earnings? O $143,090 O $140,000 O $145,050 O $153,000
Use the following information to build an income statement and answer the following question: Sales of $760.000, current assets of $5,400,000 net fixed assets of $28,100,000, and long-term debt of $10,600,000, costs of $316,000, depreciation expense of $39.000, interest expense of $34,000, current liabilities of $4,100,000, and a tax rate of 21 percent. The firm paid out $150,000 in cash dividends and has 100,000 shares of common stock outstanding. What is the addition to retained earnings? O $143,090 O $140,000 O $145,050 O $153,000
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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