Correct answer is "expenses must have been $18 million"
Net income = Revenue - Expenses
Revenue = $24 million
Net income = $6 million
$6 million = $24 million - Expenses
Expenses = $4 million - $6 million = $18 million
If Blair Industries had $24 million in revenue and net income of $6 million, then its:...
If Blalr Industries had $26 million In revenue and net Income of $13 million, then lts: Multiple Cholce expenses must have been $39 million. expenses must have been $13 million. assets must have been $26 million assets must have been $13 million
On June 30, 2021, Blair Industries had outstanding $82 million of 8% convertible bonds that mature on June 30, 2022. Interest is payable each year on June 30 and December 31. The bonds are convertible into 6 million shares of $10 par common stock. At June 30, 2021, the unamortized balance in the discount on bonds payable account was $4 million. On June 30, 2021, half the bonds were converted when Blair's common stock had a market price of $40...
On June 30, 2021, Blair Industries had outstanding $106 million of 9% convertible bonds that mature on June 30, 2022. Interest is payable each year on June 30 and December 31. The bonds are convertible into 9 million shares of $10 par common stock. At June 30, 2021, the unamortized balance in the discount on bonds payable account was $4 million. On June 30, 2021, half the bonds were converted when Blair's common stock had a market price of $43...
1. Home Realty, Incorporated, has been operating for three years
and is owned by three investors. J. Doe owns 60 percent of the
total outstanding stock of 9,000 shares and is the managing
executive in charge. On December 31, the following financial items
for the entire year were determined: sales revenue, $186,000;
salaries and wages expense, $101,000; interest expense, $6,700;
advertising expenses, $9,225; and income tax expense, $18,900. Also
during the year, the company declared and paid the owners dividends...
Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.8 million, and its net income was $1.0 million. Its gross margin ratio equals: rev: 10_13_2017_QC_CS-105444 Multiple Choice 86%. 156%. 36%. 56%. 64%.
Wilson Industries' 2021 financial statements show net income of $2,049 million, average shareholders’ equity of $10,500 million, average total assets of $ 54,000 million, and interest expense of $930 million. How much is Wilson Industries’ return on assets for the year? Assume that the statutory tax rate is 30%.
Hep Save & Exit Sub Chavin Company had the following results during August: net operating income, $360,000; turnover, 3; and ROI 24%. Chavin Company's average operating assets were: Multiple Choice O $120,000 O $86,400 O $1,080,000 The following data has been provided for a company's most recent year of operations: Return on investment Average operating assets Minimum required rate of return 24% $70,000 19% The residual income for the year was closest to: Multiple Choice 0 $3,500 C O )...
Hurricane Industries had a net income of $135,400 and paid 45 percent of this amount to shareholders in dividends. During the year, the company sold $84,000 in new common stock. What was the company's cash flow to stockholders? Multiple Choice −$23,070 $60,930 $23,070 $51,400 −$60,930
Please solve all
Byron Books Inc. recently reported $18 million of net income. Its EBIT was $42.5 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $18 million of net income by (1 - T) -0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar...
0 A company had $6,980,000 in net income for the year. Its net sales were $15,000,000 for the same period. Calculate its profit margin Multiple Choice 23.3% o 930 114.99 ME < Prev 20 of 30 Next > Nast 7:15 PM pa narh