Ranieri Corp. reported the following 2007 income statement: Sales 93,000 Cost of sales 24,500 SG & A

Fantastic news! We've Found the answer you've been seeking!

Question:

Ranieri Corp. reported the following 2007 income statement:

Sales 93,000
Cost of sales 24,500
SG & A 32,400
Interest expense 800
Other income 1,400
Income taxes 14,680
Net income 22,020

Required
Ranieri ’ s core operating margin in 2007 was? (Please consider to show calculation working)

Related Book For answer-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

See More Books

Posted Date: Feb 10, 2022 01:08 AM

See More Questions

Net operating income reported under absorption costing will exceed net operating income reported under variable costing for a given period if: A. Production equals sales for that period. B....
The firm was initially capitalized with 500 000 as an S Corporation The firm purchased equipment for 450 000 with cash of 125 000 and a note payable of 325 000 It also acquired furniture for 120 000...
Net income for 2018 was $ 4 comma 230, and interest expense was $ 210. Compute Nayna's rate of return on total assets for 2018. (Round to the nearest percent.)
A Continuous fractional column, operating at atmospheric pressure, is to be designed to separate a mixture containing 20 per cent benzene in toluene into an overhead product containing 90 percent...
State the formula for the average age and average useful life of fixed assets and describe what they tell an analyst.
If all the students in a class carry out Exercise 7 independently of each other and use different pseudo-random numbers, then the different values of the statistic Q obtained by the different...
Does Early Language Reduce Tantrums? A recent headline reads "Early Language Skills Reduce Preschool Tantrums, Study Finds," and the article offers a potential explanation for this: "Verbalizing...
Royale Aluminum desires an after-tax income of $500,000. It has fixed costs of $2,500,000, a unit sales price of $300, and unit variable costs of $150, and is in the 40% tax bracket. Required: 1....
Norwalk Enterprises manufactures insulated cold beverage cups printed with college and corporate logos , which it distributes nationally in lots of 1 2 dozen cups. In June, Norwalk produced 4 , 5 0 0...
The following summarized data (amounts in millions) are taken from the September 26, 2020, and September 28, 2019, comparative financial statements of Apple Incorporated, a company that designs,...
Fried Cheese Company lists its sales and expenses below for the 2020 year. One division, the Swiss Division, continues to bring the profits down for the entire company, so the managers at Fried...
Explain the basis for classification of nuclear reactors.
For each equation in Problems 7-18, find three ordered pairs that satisfy the equation, and then use this information to graph each line. $y=2 x+1 $
Explain air standard Carnot cycle with PV and TS diagram and write its efficiency?
What is meant by renewable and non-renewable energy sources? Give suitable examples of each.
Define the following terms: (i) Absolute pressure and Atmospheric pressure. (ii) Enthalpy and Energy.
Different Emotional states of Human Behaviour and their Psychological impacts on personality. Define different states one by one including their impact on personality.
Use nodal analysis to determine voltages v1, v2, and v3 in the circuit Fig. 3.76. Figure 3.76 4 S 3i, 2 A 4A
Guardian Devices Inc. prepared the following sales budget for the current year: At the end of December 2010, the following unit sales data were reported for the year: For the year ending December 31,...
If the unit cost of direct materials is decreased, what effect will this change have on the break-even point?
Chinook Company, an electronics repair store, prepared the unadjusted trial balance shown below at the end of its first year of operations. For preparing the adjusting entries, the following data...
For each system in Figure 15.3, identify (a) the restoring force (b) the type of potential energy associated with the motion. Figure 15.3 Examples of oscillating systems. (a) pendulum (b) ruler...
Suppose the spring in Figure 15.1 is compressed twice as much. (a) By how much does the mechanical energy of the spring-cart system increase? $(b)$ What is the relationship between the amplitude of...
What are (a) the direction of the velocity of the shadow on the screen in Figure 15.6 (b) the direction of the shadow's acceleration? Figure 15.6 If we project the shadow of a ball moving in a circle...

Ranieri Corp. reported the following 2007 income statement: Sales 93,000 Cost of sales 24,500 SG & A

Question:

Expert Answer:

Answer Operating Margin in 2007 388 Calculation First we need to calculate ... View the full answer

Accounting

Students also viewed these finance questions