If the Reid Company earned $500,000 in net income, spent $100,000 in cost of goods sold, had
Question:
If the Reid Company earned $500,000 in net income, spent $100,000 in cost of goods sold, had $55,000 of general and administrative expenses, $45,000 in interest expense, $30,000 in depreciation expenses, and $50,000 in taxes, what was the company’s sales revenue?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Net income cost goods sold genera...View the full answer
Answered By
MICHAEL KICHE
I was employed studypool for the first time in tutoring. I did well since most of my students and clients got the necessary information and knowledge requested for. I always submitted the answers in time and followed the correct formatting in answering eg MLA or APA format,
Again I worked with the writers bay where I did writing and got many clients whom we worked with so closely. They enjoyed every single service I delivered to them. My answers are always correct.
4.70+
13+ Reviews
53+ Question Solved
Related Book For
Foundations Of Finance
ISBN: 9780135160619
10th Edition
Authors: Arthur J. Keown, John H. Martin, J. William Petty
Question Posted:
Students also viewed these Business questions
-
The following percentages apply to Thornton Company for 2018 and 2019: ___________________________________________2019 2018 Sales............................................................
-
If Raines Company earned $280,000 in net income, and paid cash dividends of $40,000, what are Rainess earnings per share if it has 80,000 shares outstanding?
-
If ABC Company earned $ 280,000 in net income and paid cash dividends of $ 40,000, what are ABCs earnings per share if it has 80,000 shares outstanding?
-
Suppose you want to reduce the level of trash disposed by your household. Develop an emission standard, a technology standard, and an ambient standard that would accomplish the reduction.
-
Explain ways in which nutrition counselors can assess their own effectiveness.
-
P Corporation acquired an 80% interest in S Corporation on January 1, 2023, when the book values of S assets and liabilities were equal to their fair values. The cost of the 80% interest was equal to...
-
What does it mean to recommend that an expense or revenue should be "accrued?" Would this be considered "normal?"
-
Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Taylor family afford if their gross (before-tax) monthly income amounted to $4,000? Would it make any...
-
John is a farmer. In three months, his harvest will be ready and he will sell a big contract of 500,000 pounds of wheat. The spot market price of wheat is now $0.50 per pound but it is likely to...
-
The bookkeeper of Greener Landscaping, Inc., prepared the companys balance sheet while the accountant was ill. The balance sheet contains numerous errors. In particular, the bookkeeper knew that the...
-
Go to the Wall Street Journal home page at www.wsj.com. Search for Barnes & Noble (ticker symbol BKS). Find the firms earnings announcements. What did you learn about the company from the...
-
Prepare a balance sheet and income statement for Kronlokken Company from the following scrambled list of items. a. Prepare a common-sized income statement and a common-sized balance sheet. Interpret...
-
What is the primary goal of unit testing?
-
Determine the normalized specifications for the analog, lowpass, elliptic filter corresponding to the bandpass filter: \[\begin{aligned}A_{\mathrm{p}} & =2 \mathrm{~dB} \\A_{\mathrm{r}} & =40...
-
Cigar Smoking The data in the following table show the association between cigar smoking and death from cancer for 139,704 men. Note: Current cigar smoker means cigar smoker at time of death. (a) If...
-
A grocery bag can be classified as either paper or plastic. 96% of grocery bags are classified as plastic. (a) Two grocery bags are chosen at random. What is the probability that both grocery bags...
-
Determine the normalized specifications for the analog, lowpass, Chebysev filter corresponding to the highpass filter: \[\begin{aligned} A_{\mathrm{p}} & =0.2 \mathrm{~dB} \\ A_{\mathrm{r}} & =50...
-
The probability that a randomly selected 1-year-old male chipmunk will live to be 2 years old is 0.97853. (a) What is the probability that two randomly selected 1-yearold male chipmunks will live to...
-
On January 1, 2015, Mamood Ltd. paid $322,744.44 for 12% bonds of Variation Ltd. with a maturity value of $300,000. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2015,...
-
Using a graphing utility, graph y = cot -1 x.
-
Emma's Electronics Incorporated has total assets of $63 million and total debt of $42 million. The company also has operating profits of $21 million with interest expenses of $6 million. a. What is...
-
Drew Concrete uses Economic Value Added as a financial performance measure. Drew has $240 million in assets, and the firm has financed its assets with 37 percent equity and 63 percent debt with an...
-
Chang, Inc.'s balance sheet shows a stockholders' equity-book value (total common equity) of $750,500. The firm's earnings per share is $3, resulting in a price / earnings ratio of 12.25X. There are...
-
Paddington Gifts made purchases of a particular product in the current year as follows: Jan. 1 Beginning inventory Mar. 7 Purchased July 28 Purchased Oct. 3 Purchased Totals Required: 200 units @...
-
what cognitive alchemy does the visionary transmute the leaden constraints of the present into the gilded opportunities of tomorrow, orchestrating symphonies of innovation amidst the cacophony of...
-
a) Propose the most appropriate type of leadership that the Coca Cola Company's top management should rely on to execute the strategy, based on the type of organizational culture and strategy. b)...
Study smarter with the SolutionInn App