Question: a. What is the gross interest expense for 2008 and 2007? b. What is the interest reported on the income statement for 2008, 2007, and

a. What is the gross interest expense for 2008 and 2007?
b. What is the interest reported on the income statement for 2008, 2007, and 2006?
c. What was the interest added to property and equipment during 2008 and 2007?
d. When is capitalized interest recognized as an expense? Describe.
e. What was the effect on income from capitalizing interest? Describe.
f. Compute times interest earned for 2008 and 2007. Comment on the absolute amounts and thetrend.

THE GEO GROUP, INC CONSOLIDATED STATEMENTS OF INCOME Fiscal Years Ended December 28, 2008, December 30, 2007, and December 31, 2006 2008 (In thousands, except per share data) 822,053 787,862 2007 2006 Revenues Operating Expenses Depreciation and Amortization 1,043,006 $976299 $818,4 679,886 21.682 37,406 33,218

Step by Step Solution

★★★★★

3.34 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a 2008 2007 Income statement interest expense 30202000 36051000 Capitalized interest 4300... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

139-B-A-L (1981).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Jane Harper was 50 years old when one morning she slipped and fell down a flight of stairs leading from her apartment to the parking lot. The ice and snow had accumulated on the stairs and other...

What basic characteristic distinguishes items reported on the income statement from items reported on the balance sheet?

What is the gross margin ratio?

The cost of merchandise sold reported on the income statement was $770,000. The accounts payable balance decreased $44,000, and the inventory balance decreased by $66,000 over the year. Determine the...

The comparative balance sheet of Portable Luggage Company at December 31, 2008 and 2007, is as follows: An examination of the income statement and the accounting records revealed the following...

The following data pertains to the Pamela Lee Company. At December 31. 2008, the company has a $30,000 liability reported for estimated litigation claims. This $30,000 balance represents amounts that...

IDEO Case Study Assignment What are features of IDEO's "Exploratory Phase"? (select all that apply) Team members share different insights they have gained in downloading sessions Extended interviews...

The questions are provided in the document attached; the relevant files are attached as well. a. For 2015, was cash provided by, or used in, Operations? b. For 2015, is Kohl's net Cash Flow from...

I'm trying to develop Pro Forma financial statements (Balance Sheet and Income Statement) for the next two fiscal years, assuming a 10% growth rate in sales and Cost of Goods Sold (COGS) for each of...

I'm using Kohl's Corporation's Annual Statement trying to answer this question. I've attached the annual report below. Assess management performance by calculating Economic Value Added (EVA). UNITED...

Conduct a SWOT analysis (Strengths Weaknesses Opportunities Threats) for C&C Sports based on the materials provided . The family has made a conscious decision not to follow the textile industry's...

Are advertisements generally considered offers? Explain. In 1999, a Seattle man took a popular soft-drink company seriously when one of its commercials made an offer of a harrier jet, the famous...

Indices of planes consider the planes with indices (100) and (001); the lattice is fee, and the indices refer to the conventional cubic cell. What are the indices of these places when referred to the...

A box with a square base o f length x and height h has a volume V = x 2 h . Complete parts a . through e . a . V x = V h = b . For a box with h = 1 . 8 m , use a linear approximation t o estimate the...

Why are indirect costs not directly traced to cost objects in the same way as direct costs?

The following figure shows a scatterplot of the educational level of twins. Describe the scatterplot. Explain the trend and mention any unusual points. 20 18 - 16 - 14 - 12 - 10 8 5 10 15 20...

The class should be divided into pairs of students for this project. Suppose it is conjectured that at least 25% of students at your university exercise for more than two hours a week. Collect data...

Refer to Exercise 48. Use the equation of the least-squares regression line and the residual plot to estimate the actual fuel consumption of the car when driving 20 kilometers per hour. Exercise 48....

Current assets = $60,000, long-term debt = $70,000, net fixed assets are $40,000 more than current liabilities, shareholders equity is four times less than total liabilities. What is shareholders...

Which of the following are the requirements of an aggressive new product development strategy: a) open communication with customers b) innovative product development cultures c) aggressive R&D d)...

Orchard Company completed its first year of operations on December 31, 2012. Its initial income statement showed that Orchard had revenues of $198,000 and operating expenses of $83,000. Accounts...

The 2009 income statement for McDonalds Corporation shows cost of goods sold $5,178.0 million and operating expenses (including depreciation expense of $1,216.2 million) $10,725.7 million. The...

The Collins Company, expertly run by Mr. Collins who is the CEO, CFO, and Chairman of the Board, on which a couple of his very good friends sit, needs to expand its production. Current sales are...

Jarett & Sons's common stock currently trades at $21.00 a share. It is expected to pay an annual dividend of $2.50 a share at the end of the year (D1 = $2.50), and the constant growth rate is 8% a...

The tax rates are as shown. What is the average tax rate for a firm with taxable income of $131,513? 37.16% 39.00% 20.00% 28.75% 26.26%