Billy’s Exterminators, Inc., has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense of $35,000, and a tax rate of 35 percent. What is the net income for this firm?
Answer to relevant QuestionsSuppose the firm in Problem 2 paid out $85,000 in cash dividends. What is the addition to retained earnings?Earnhardt Driving School’s 2010 balance sheet showed net fixed assets of $2.8 million, and the 2011 balance sheet showed net fixed assets of $3.6 million. The company’s 2011 income statement showed a depreciation expense ...Prepare a 2011 balance sheet for Cornell Corp. based on the following information: cash = $127,000; patents and copyrights = $630,000; accounts payable = $210,000; accounts receivable = $105,000; tangible net fixed assets = ...Draw up an income statement and balance sheet for this company for 2010 and 2011.That Wich Corp. had additions to retained earnings for the year just ended of $375,000. The firm paid out $175,000 in cash dividends, and it has ending total equity of $4.8 million. If the company currently has 145,000 ...
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