a.
To calculate: The after-tax income for 20X2.
Introduction:
After tax income:
It is that net income which remains after the deduction of all the federal state and withholding taxes. It represents the income available to the consumer that can be utilized.
b.
To calculate: The percentage gain in income after tax due to a 10% increase in sales price and explain the reason for the impact this has.
Introduction:
After tax income:
It is that net income which remains after the deduction of all the federal state and withholding taxes. It represents the income available to the consumer that can be utilized.
c.
To calculate: The after-tax income for 20X3.
Introduction:
After tax income:
It is that net income which remains after the deduction of all the federal state and withholding taxes. It represents the income available to the consumer that can be utilized.
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Loose Leaf for Foundations of Financial Management Format: Loose-leaf
- Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.arrow_forwardLast year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?arrow_forwardMacon Mills is a division of Bolin Products. Inc. During the most recent year, Macon had a net income of $40 million. Included in the income was interest expense of $2,800,000. The companys tax rate was 40%. Total assets were $470 million, current liabilities were $104,000,000, and $72,000,000 of the current liabilities are noninterest bearing. What are the invested capital and ROI for Macon?arrow_forward
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