AL Batinah company following financial information in its annual reports at the end of the year...

 

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AL Batinah company following financial information in its annual reports at the end of the year It has sales of OMR 1,450,000; cost of goods sold OMR 812,500, operating expenses of OMR 175,000, and interest expenses of OMR 89,575. AL Batinah company had cash of OMR 25,135, accounts receivables of OMR 43,758, inventory of OMR 167,112, net fixed assets of OMR 325,422, and other assets of OMR 13,125. It had accounts payables of OMR 67,855, notes payables of OMR 36,454, long-term debt of OMR 223,125, and common stock of OMR 150,000. Prepare income statement of AL Batinah company if the tax rate 35 percent. AL Batinah company following financial information in its annual reports at the end of the year It has sales of OMR 1,450,000; cost of goods sold OMR 812,500, operating expenses of OMR 175,000, and interest expenses of OMR 89,575. AL Batinah company had cash of OMR 25,135, accounts receivables of OMR 43,758, inventory of OMR 167,112, net fixed assets of OMR 325,422, and other assets of OMR 13,125. It had accounts payables of OMR 67,855, notes payables of OMR 36,454, long-term debt of OMR 223,125, and common stock of OMR 150,000. Prepare income statement of AL Batinah company if the tax rate 35 percent.

Answer rating: 100% (QA)

To prepare the income statement for AL Batinah company well start with the calculation of various financial metrics and then use them to construct the ... View the full answer