5.1 Goose Bistro is projecting the following operating statistics for the year 2022: Net income required:...

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5.1 Goose Bistro is projecting the following operating statistics for the year 2022: Net income required: 15% after income tax on the owner's present investment of $93,000. Depreciation: present book value (consolidated) of all equipment is $64,000, the depreciation rate is 20%. Interest: Interest on a loan outstanding of $35,000 is 8%. Income tax rate: 30% For Variable costs: You also know a couple other costs: a • food cost takes 41% of sales revenue • wage cost takes 34% of sales revenue. • other costs take 12% of sales revenue b insurance: $3000 • license: $2,500 • Utilities: $8,400 • Maintenance: $3,600 • Administration: $5,700 . Salaries: 50000 What is the required Net Income After Tax? 13,950 Correct! Show Your Attempts ✓ The income tax is: Show Your Attempts ✓ 5.2 Given all information above, what is the sales revenue would the restaurant have to achieve in 2022 in order to acquire the desired net income after tax? 2 Points LATEX You have used 2 of 3 attempts Submitted Feb 20, 9:50 PM You have used 2 of 3 attempts Submitted Feb 20, 9:50 PM 2 Points $ LATEX ? Submit 5.1 Goose Bistro is projecting the following operating statistics for the year 2022: Net income required: 15% after income tax on the owner's present investment of $93,000. Depreciation: present book value (consolidated) of all equipment is $64,000, the depreciation rate is 20%. Interest: Interest on a loan outstanding of $35,000 is 8%. Income tax rate: 30% For Variable costs: You also know a couple other costs: a • food cost takes 41% of sales revenue • wage cost takes 34% of sales revenue. • other costs take 12% of sales revenue b insurance: $3000 • license: $2,500 • Utilities: $8,400 • Maintenance: $3,600 • Administration: $5,700 . Salaries: 50000 What is the required Net Income After Tax? 13,950 Correct! Show Your Attempts ✓ The income tax is: Show Your Attempts ✓ 5.2 Given all information above, what is the sales revenue would the restaurant have to achieve in 2022 in order to acquire the desired net income after tax? 2 Points LATEX You have used 2 of 3 attempts Submitted Feb 20, 9:50 PM You have used 2 of 3 attempts Submitted Feb 20, 9:50 PM 2 Points $ LATEX ? Submit

Answer rating: 100% (QA)

a Require tag Net Income after 254 br Net Inco... View the full answer