I have no freakin clue what I am supposed to do.
Here is the provided info
Selling General and Administrative expenses-51,000
Accounts payable-85,000
Extraordinary gain (lawsuit/ (28,000) lattice tax)-104,000
Research and Development-37,000
Loss- discontinued operations (+5,000 web tax)-16,000
Provision for Income Taxes-74,000
Net Sales-579,000
Interest Expense-64,000
Net cash provided by operations-148,000
Cost of Goods Sold-272,000
(a) Calculate the operating income
(b) Calculate the company's web income
Thanks Again!
Answers: Net Sales $579,000
Cost of Goods Sold ($272,000)
Gross Profit $307,000
Selling General and Administrative expenses ($51,000)
Research and Development ($37,000)
Operating income $219,000 - Answer (a)
Interest Expense ($64,000)
Income from continuing operations $155,000
Discontinued op'ns
Loss on discont'd op'ns ($21,000)
append Income tax benefit from loss $5,000
Sub-total ($16,000)
Extraordinary item
Gain from lawsuit $132,000
smaller quantity Income tax from gain ($28,000)
Sub-total $104,000
Net income $243,000 - Answer (b)
Sorry, I couldn't find the income taxes for continuing operation. It shd be an expense item, not the provision for income tax which is a liability (balance sheet) item.
The article to note for such question is that income from continuing op'ns comes first, followed by discont'd op'ns, then Extraordinary items, contained by that order.
Operating Income = Sales - COGS - SGA. Assuming that R&D isn't already burried within SGA subtract that out also. So Operating Income = 579 - 272 - 51 - 37.
NI from continuing operations = Operating income - interest - taxes
NI (total) = NI from continuing operation - loss from discontinued operations. You can sub it right out if the number is lattice of tax
a) 222,774 b)345,789
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Here is the provided info
Selling General and Administrative expenses-51,000
Accounts payable-85,000
Extraordinary gain (lawsuit/ (28,000) lattice tax)-104,000
Research and Development-37,000
Loss- discontinued operations (+5,000 web tax)-16,000
Provision for Income Taxes-74,000
Net Sales-579,000
Interest Expense-64,000
Net cash provided by operations-148,000
Cost of Goods Sold-272,000
(a) Calculate the operating income
(b) Calculate the company's web income
Thanks Again!
Does anyone know a apt criminal circumstance company to use for pre employment screening?
Answers: Net Sales $579,000
Cost of Goods Sold ($272,000)
Gross Profit $307,000
Selling General and Administrative expenses ($51,000)
Research and Development ($37,000)
Operating income $219,000 - Answer (a)
Interest Expense ($64,000)
Income from continuing operations $155,000
Discontinued op'ns
Loss on discont'd op'ns ($21,000)
append Income tax benefit from loss $5,000
Sub-total ($16,000)
Extraordinary item
Gain from lawsuit $132,000
smaller quantity Income tax from gain ($28,000)
Sub-total $104,000
Net income $243,000 - Answer (b)
Sorry, I couldn't find the income taxes for continuing operation. It shd be an expense item, not the provision for income tax which is a liability (balance sheet) item.
The article to note for such question is that income from continuing op'ns comes first, followed by discont'd op'ns, then Extraordinary items, contained by that order.
Tell me the procedure to find a CCD (cafe coffee day) franchise.?
Operating Income = Sales - COGS - SGA. Assuming that R&D isn't already burried within SGA subtract that out also. So Operating Income = 579 - 272 - 51 - 37.
NI from continuing operations = Operating income - interest - taxes
NI (total) = NI from continuing operation - loss from discontinued operations. You can sub it right out if the number is lattice of tax
How do I find out how much my company's shares are worth?
a) 222,774 b)345,789
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