Refer to the Nike information in Exhibit 4-5. Using the data for fiscal year 2001, compute both the operating income and the operating income as a percentage of sales. Treat the restructuring charge as an operating item and the other expense as a nonoperating item.
Answer to relevant QuestionsUse the following information to compute income from continuing operations. Assume that the income tax rate on all items is 40%.Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,000Interest ...Swalberg Corporation purchased a patent on January 2, 2003, for $600,000. Its original life was estimated to be 15 years. However, in December of 2008, Swalberg’s controller received information proving conclusively that ...Radiant Cosmetics Inc. shows a retained earnings balance on January 1, 2008, of $620,000. For 2008, the income from continuing operations was $210,000 before income tax. Following is a list of special items:Income from ...Locate the 2004 financial statements for The Walt Disney Company on the Internet. 1. Did Disney have any below-the-line items in 2004? Explain.2. Disney’s net income increased from $1,267 million in 2003 to $2,345 million ...Refer to Practice 8-15. Assume that the company uses the percentage of trail feet constructed in estimating the percentage of completion. Make the journal entries to record revenue and cost for the construction project in ...
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