Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ( $ Million) Year End 2015 2016 2017 2019 Sales 1, 234.90 1,251.70 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income / Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1
Q: Make an Internal Rate of Return sample problem with a diagram and solution.
A: The IRR can be called the discount rate, it is applicable to the cash flows of the project and…
Q: Accounting Muckingjay Inc. opened in 2022. The company reported sales revenue of $486,000 and…
A: The necessary journal entry to record the Net operating loss to be carried shall be Deferred tax…
Q: What total amount shall be reported in profit or loss in the Inn Corporation had 30,000 ordinary…
A: Bonus issue =30000 x 20% = 6000 shares
Q: Prepare the Statement of Changes in Equity for the year ended 28 February 2022.
A: Sunny and Raymond are partners in Sunny Traders. Provided to us are the capital related transactions…
Q: Saktanmokobaybeh Company uses standard costing for direct materials and direct labor. The following…
A: Volume Variance: - A Volume Variance is the difference of actual quantity sold and the budgeted…
Q: Under the absorption costing, the total product costs should be:
A: The calculation of total product costs under the absorption costing is shown hereunder : Absorption…
Q: Please answer this immediately , I need it. BEP Analysis Green Manufacturing Company produces…
A: Breakeven sales revenue is that level of sales revenue at which business is only recovering it's…
Q: What is “fair value”? Consider whether it is really helpfulwhen reporting financial results. Give…
A: Fixed assets: These include all the assets that are of tangible nature and have an expected useful…
Q: The financial statements showed the following: Operating income $2,750,000, Depreciation $1,350,000,…
A: Concept The amount by which a company's operating cash flow exceeds its working capital needs and…
Q: Use the information provided below to prepare the Cash Flow Statement of Rolex Limited for the year…
A:
Q: The following transactions pertain to a branch’s first month’s operations: a. The home office sent…
A: Journal entries is the transactions, which helps us to keeping or making records of transactions of…
Q: FIND & FOUND LTD, currently trades in Products CCT. The company is currently enjoying a tax holiday.…
A: Provision to be provided = 21600*15% = 3240
Q: Question 3 a) What do you mean by scrap? Will scrap increase cost per unit? Why or why not?
A: "Since you have asked multiple questions, we will solve the first question for you. In order to get…
Q: Pinkton Corporation keeps careful track of the time required to fill orders. The times recorded for…
A: Delivery cycle time: It implies to the time gap that exists between the receipt of an order from the…
Q: Question 1: Pamlico Manufacturing Ltd h
A: An Income statement shows the financial position of the company It is an important statement that…
Q: BETA Company began operations in January 2021. Financial statements for the years ended December 31,…
A: Retained earnings refer to the amount of profit which is retained by the business entity after the…
Q: 27. LO.2 (WA EUP; cost per WA EUP) BeGone manufactures spray cans of insect repel- lent. On August…
A: Given: - 1) begining WIP inventory =9,800 2) units started into production=81,500 3) units to…
Q: l balance, additional information and adjustments given below were extracted from the records of…
A: The statement of comprehensive income as,
Q: EasyLang Company provided the following information below Variable production costs…
A: Period costs are costs that are not directly linked with the production process. It include…
Q: Arturito Company was approached by the Jordan Brand to purchase 10,000 pairs of shoes for P550. The…
A: The company has an installed capacity of 50,000 units and currently producing 45,000 units. The…
Q: The company provided the following financial information: Assets -7,250,800 Tax Rate - 35% BEP-…
A: BEP( basic earning power ratio) = EBIT/ TOTAL ASSET ROA ( return on asset ratio) =…
Q: 5. A company has $6,435,000 in common equity and 1,063,000 in outstanding shares. Shares sell at a…
A: Market value is the total value of shares based on their market price. Book value is the total value…
Q: 1. Basic earnings per share 2. Diluted earnings per share
A: Basic earnings per share is the earnings per share which a company has earned and is actually the…
Q: When starting a presentation, what is the first crucial step to take? O a. Understand and present…
A: The firsr and foremost step of presentation is to understand the need of audience and to consider…
Q: Several years ago, Sammy Inc. acquired a 709% interest in Lavender Co. The book values of Lavender's…
A: Cost of goods sold: - Costs of goods sold is the value of total goods sold during a particular…
Q: An engineering analysis by net present worth (NPW) is to be made for the purchase of two devices A…
A: Net Present Worth: It is the difference between the present values of cash inflows and cash…
Q: ABC Company is the defendant in a patent infringement suit filed by XYZ Company in 2020. At Dec. 31,…
A:
Q: Required information (The following information applies to the questions displayed below) On January…
A: Depreciation is charged on the asset due to wear and tear, obsolescence, new technology, advanced…
Q: 17. LO.2 (WA EUP) For each of the following situations, use the weighted average method to determine…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…
A: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable factory…
Q: Half page response please. Identify the three types of inventory and describe examples for Under…
A: Inventory represents the items, products, goods, or merchandise held by the business entity with the…
Q: In your own words explain the term “identifiable” as per IAS38 – Intangible assets.
A: Introduction:- Intangible assets are expected to generate economic for more than one year or one…
Q: The Human Resources department at Community Hospital instituted a new performance evaluation system…
A: Variance is actually the deviation which a company calculates when the actual results of the…
Q: 49. A cash budget can be prepared only after Group of answer choices a. determining that enough…
A: Cash Budget is the summary of Cash Receipts and Cash Payments for the period. While preparation of…
Q: Use the information below provided by Angel Baby Angel Company: Sales 8,250,000.00 Operating…
A: Solution:- 1)Calculation of Times interest earned ratio as follows under:- Times interest earned…
Q: Accounting analyse the impact the discovery of control deficiencies will have on the approach to…
A: Sampling is the process of picking a specific number of observations from a larger population in…
Q: SHABNUM COSTATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 202 S'000 20X1 S'000 Assets Non-current…
A:
Q: Tiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of…
A: A product purchasing budget is a plan that reflects the total predicted costs or item inventory…
Q: Calculate the contribution margin for one cone. $ contribution margin/cone (do not include the $…
A: Daily break-even number of units is the units which a company have to sold on the daily basis so…
Q: A company's sales last year were $615,000 and its net income was $45,800. It has $465,000 in assets…
A: Ratio analysis means where the various ratio can be found out with different name and meaning and…
Q: F. The records of Stedman Corp. included the following accounts, all of which are normal balances:…
A: The allowance for doubtful accounts is created to record the estimated bad debt expense for the…
Q: Why do entrepreneurs need to begin from the users’ or customers’ hidden needs when they are about to…
A: The entrepreneurs wants to start the business and the business which has been started by the…
Q: Net income for 2020 was P1,825,600. In 2021, it decreased by 53%. Still using the 2020 net income as…
A: Introduction:- Net income denotes the amount of a profit a company after deduction of all expenses.…
Q: On January 1, 20x7, Babson, Inc., leased two automobiles for executive use. The lease requires…
A: Leases is a form of contract or arrangement between two parties under which one party provides it's…
Q: Refer to the following financial information of Scholz Company: NOPAT…
A: Formulas: Depreciation and amortization expense = EBITDA - Earnings before tax - Interest expense…
Q: Required: Determine the following: Total net cash flow Net cash flow from operating Net cash flow…
A: Cash flow statement means the statement which shows the movement of cash in flow and out flow under…
Q: PLEASE ANSWER ASAP Problem No. 4 AACA Corporation is a company engaged in buying and selling…
A:
Q: Use the following information to answer next five (5) questions: The AACA Company is on a calendar…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: $1:Snapshots involve embedding audit software modules within an application system to provide…
A: An audit software module within an application system to provide continuous monitoring of the system…
Q: Inn Corporation had 30,000 ordinary shares of NPA Company which were acquired during Year 2 for a…
A: Number of bonus shares = 30000 x 20%= 6000 shares Number of shares as on December 31, Year 3 =…
Given the historical income statement of Mega Trade Inc., how much would be added to the company's
| Income Statement ( $ Million) | |||||
| Year End | |||||
| 2015 | 2016 | 2017 | 2019 | ||
| Sales | 1, 234.90 | 1,251.70 | 1,300.40 | 1,334.40 | |
| Cost of Sales | -679.1 | -659 | -681.3 | -667 | |
| Gross Operating Income | |||||
| Selling & Administration | -339.7 | -348.6 | -351.2 | -373.3 | |
| -47.5 | -52 | -55.9 | -75.2 | ||
| Other Income / Expenses | 11.8 | 7.6 | 7 | 8.2 | |
| Earnings Before Interest and Taxes | |||||
| Interest Income | 1.3 | 1.4 | 1.7 | 2 | |
| Interest Expense | -16.2 | -15.1 | -20.5 | -23.7 | |
| Pre Tax Income | |||||
| Income Taxes | -56.8 | -64.2 | -67.5 | -72.6 | |
| Net Income | |||||
| Dividends | -38.3 | -38.7 | -39.8 | -40.1 |
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ($ Million) Income Statement ( $ Million) Year End 2015 2016 2017 2019 Sales 1, 234,90 1,251.40 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income / Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million) Year End 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Income Taxes -56.8 -64.2 -67.5 -72.6 Dividends -38.3 -38.7 -39.8 -40.1 CHOICES: A. 108.7B. 132.7C. No choice givenD. 132.8E. 121.8Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1 Addition to Retained Earnings
- In the income statement below, ABC Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million) Year End 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost of Sales (679.10) (659.00) (681.30) (667.00) Gross Operating Income Selling & Administration (339.70) (348.60) (351.20) (373.30) Depreciation (47.50) (52.00) (55.90) (75.20) Other Income/Expenses 11.80 7.60 7.00 8.20 Earnings Before Interest and Taxes Interest Income 1.30 1.40 1.70 2.00 Interest Expense (16.20) (15.10) (20.50) (23.70) Pre Tax Income Income Taxes (56.80) (64.20) (67.50) (72.60) Net Income Dividends (38.30) (38.70) (39.80) (40.10) Addition to Retained Earnings Group of answer choices 121.8 108.7 132.7 132.8 No choice givenGiven the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2016 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - -…
- GIVE THE COMPARATIVE INCOME STATEMENT VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - - 14.57% 1.02%…GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - - 14.57% 1.02%…Use the following tables to answer the question: LOGIC COMPANY Income Statement For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Gross sales 19,800 15,600 Sales returns and allowances 900 100 Net sales 18,900 15,500 COGS 11,800 8,800 Gross profit 7,100 6,700 Depreciation 780 640 Selling and administrative expenses 2,800 2,400 Research 630 540 Miscellaneous 440 340 Total operating expenses 4,650 3,920 Income before interest and taxes 2,450 2,780 Interest expense 640 540 Income before taxes 1,810 2,240 Provision for taxes 724 896 LOGIC COMPANY Balance Sheet For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Current assets 12,300 9,400 Accounts receivable 16,900 12,900 Merchandise inventory 8,900 14,400 Prepaid expenses 24,400 10,400 Total current assets 62,500 47,100 Building (net) 14,900 11,400 Land 13,900 9,400 Total plant and equipment 28,800 20,800 Total assets 91,300 67,900 Accounts payable 13,400 7,400 Salaries payable 7,500 5,400 Total current…
- Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in Millions. Income Statement Total Sales213.8 Cost of Sales151.3 Gross Profit213.8-151.3 Selling and Administrative Expenses22.3 Research and Development 7.7 Depreciation and Amortization4.5 Other Income2.4 EBIT213.8-151.3-22.3-7.7-4.5+2.4 Interest Expense5.8 Pretax Income213.8-151.3-22.3-7.7-4.5+2.4-5.8 Taxes( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.30 Net Income( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.70 Balance Sheet Assets Liabilities Cash65.8Accounts Payable43.3Accounts Receivable54.4Notes Payable/Short term debt1.6Inventories4.4 Total Current Assets65.8+54.4+4.4Total Current Liabilities43.3+1.6 Net property, plant and equipment103.4Long-term debt80.0Total long-term assets103.4Total long-term debt liabilities80.0 Total Liabilities43.3+1.6+80.0 Stockholders' Equity (Total Equity)65.8+ 54.4+4.4+103.4-43.3-1.6-80.0Total…Forecast an Income Statement Following is the income statement for Medtronic PLC for the year ended April 29, 2016. Consolidated Statements of Income Apr. 29, 2016 Net sales $29,721 Costs and expenses Cost of products sold 9,214 Research and development expense 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charges, net 290 Certain litigation charges, net 26 Acquisition-related items 283 Amortization of intangible assets 1,931 Other expense, net 107 Operating profit 6,107 Interest expense, net 955 Income from operations before income taxes 5,152 Provision for income taxes 979 Net income $4,173 Use the following assumptions to prepare a forecast of the company's income statement for FY2017. Net sales increase 18% Cost of products sold 31.7% of net sales Research and development expense 7.7% of net sales Selling, general, and administrative expense 32.8% of net sales…Assume the following sales data for a company: 2018 $980,000 2017 875,000 2016 700,000 If 2016 is the base year, what is the percentage increase in sales from 2016 to 2017? a. 125% b. 25% C. 140% d. 40%