GS supply A company has sales of $79,600. The cost of goods sold is $48,200 and
ID: 2612736 • Letter: G
Question
GS supply A company has sales of $79,600. The cost of goods sold is $48,200 and the other costs are $18,700. Depreciation is $8,300 and the tax rate is 34 percent. What is the net income? GS Supply has sales of $387,000 and costs of $294,500. Die depreciation expense is $43,800. Interest paid equals $18, 200 and dividends paid equal $6,500. Die tax rate is 35 percent. What is the addition to retained earnings? The financial statements of Edgewater Marina reflect depreciation expenses of $21, 600 and interest expenses of $27,900 for the year Die current assets increased by $31,800 and the net fixed assets increased by $28, 600 What is the amount of the net capital spending for the year? The balance sheet of a firm shows current liabilities of $46,300 and long-term debt of $189,200 as of last year. Current liabilities are $56,900 and long-term debt is S24$,750 as of today, which is the end of the current year Die financial statements for the current year reflect an interest paid amount of $18, 700 and dividends of $22,000 What is the amount of the net new borrowing? A company has an operating cash flow of $78, 460 depreciation expense of $8,960. and taxes id of $21,590 A partial listing of its balance sheet accounts is as follows:Explanation / Answer
Sales = $387,000
Cost = $294,500
Deprecation expense = $43,800
Interest paid = $18,200
Dividend paid = $6,500
Tax rate = 35%
Addition to retained earnings calculated as follows...
Addition to retained earnings = [(Sales - Cost - Deprecation expense - Interest paid)(1 - Tax rate)] - Dividend paid
Addition to retained earnings = [($387,000 - $294,500 - $43,800 - $18,200)(1 - 0.35)] - $6,500
Addition to retained earnings = $13,325
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