Chapter 5, Problem 29P

The Oakland Mills Company has disclosed the following financial information in its annual reports for the period ending March 31, 2011: sales of $1,593,952, costs of goods sold of $635,632.29, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has a tax rate of 35 percent. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25) Choose the correct one:                                                                                               Amount                                                                                                      Revenues                                                                                                                ________________ Earnings before interest, taxes, depreciation, and amortization net income depreciation Cost of goods sold Earnings before interest and taxes Interest Earnings before taxes Taxes…

For its most recent fiscal year, Cullumber Hobby Shop recorded EBITDA of $ 513,563.00, EBIT of $362,450.20, zero interest expense, and cash flow to investors from operating activity of $ 348,341.30. Assuming there are no noncash revenues recorded on the income statement, what is the firm's net income after taxes? (Round answer to 2 decimal places, e.g. 15.25.) Net income ?

Helo Company has provided the following data: Sales, P5,000,000; Interest expense, P30,000; Total assets, beginning of the year, P185,000; Total assets, end of the year, P215,000; Return on assets, 15.5%; Tax rate, 30%. What is the net income of Helo Co.? show solutions