Ramirez Corp. Income Statement Year ended December 31, 2026 Net sales $9,000,000 Cost of goods sold...
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Ramirez Corp. Income Statement Year ended December 31, 2026 Net sales $9,000,000 Cost of goods sold 6,000,000 Gross profit 3,000,000 Operating expenses (including bond interest expense) 1,500,000 Income before income taxes 1,500,000 Income tax 450,000 Net income $1,050,000 Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2026, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2026. Assume that preferred dividends for the current year have not been declared. The return on common stockholders' equity for 2026 is computed as follows: a. $1,050 + $3,519. b. $1,050+ $3,564. c. $1,005 $3,519. d. $1,005 $3,564. Ramirez Corp. Income Statement Year ended December 31, 2026 Net sales $9,000,000 Cost of goods sold 6,000,000 Gross profit 3,000,000 Operating expenses (including bond interest expense) 1,500,000 Income before income taxes 1,500,000 Income tax 450,000 Net income $1,050,000 Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2026, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2026. Assume that preferred dividends for the current year have not been declared. The return on common stockholders' equity for 2026 is computed as follows: a. $1,050 + $3,519. b. $1,050+ $3,564. c. $1,005 $3,519. d. $1,005 $3,564.
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Related Book For
Accounting Principles Volume 2
ISBN: 978-1119502555
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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