Business, 22.10.2019 19:00 etwerner23
Oriole corp. has 149740 shares of common stock outstanding. in 2020, the company reports income from continuing operations before income tax of $1236100. additional transactions not considered in the $1236100 are as follows. 1. in 2020, oriole corp. sold equipment for $38200. the machine had originally cost $84000 and had accumulated depreciation of $33400. the gain or loss is considered non-recurring. 2. the company discontinued operations of one of its subsidiaries during the current year at a loss of $198300 before taxes. assume that this transaction meets the criteria for discontinued operations. the loss from operations of the discontinued subsidiary was $94900 before taxes; the loss from disposal of the subsidiary was $103400 before taxes. 3. an internal audit discovered that amortization of intangible assets was understated by $35500 (net of tax) in a prior period. the amount was charged against retained earnings. 4. the company recorded a non-recurring gain of $127900 on the condemnation of some of its property (included in the $1236100). analyze the above information and prepare an income statement for the year 2020, starting with income from continuing operations before income tax. compute earnings per share as it should be shown on the face of the income statement. (assume a total effective tax rate of 19% on all items, unless otherwise indicated.) (round earnings per share to 2 decimal places, e. g. 1.47.)
Answers: 1
Business, 22.06.2019 11:30, Svetakotok
Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)
Answers: 2
Business, 22.06.2019 15:20, byler47
Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.
Answers: 1
Oriole corp. has 149740 shares of common stock outstanding. in 2020, the company reports income from...
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