Calculate net income for the year ended december

Assignment Help Managerial Economics
Reference no: EM13986544

Calculate income from operations and net income:

Net cash provided by operation ..............$49,000
Cost of goods sold ...................$155,000
Selling, general, and administrative expenses ........$62,000
Accounts payable ..................$5,000
Extraordinary loss from hurricane, net of tax 
Savings $18,000 ................... $68,000
Research and development expenses ...........$15,000
Net loss from discontinued operations, net of tax
Savings of $12,000 ..................$30,000
Provision for income taxes ...............$39,000
Net Sales ......................$420,000
Interest expense ...................$32,000

a. Calculate income from operations (operating income) for the year ended December 31, 2007.

b. Calculate net income for the year ended December 31, 2007.

 

Reference no: EM13986544

Questions Cloud

What is the net electric potential due to all the charges : A four charge is placed exactly in the center of the triangle, as shown in the figure below. Assuming that q2 = +5 uC, charge q1=q3= +4.0 uC and q4 = -2.0 uC determine the following: What is the force in unit vector notation on q4 due to the other ..
What is the coefficient of friction between the car tires : A ball on the end of a string is revolving at a uniform rate in a vertical circle of radius 96.5 cm. If its speed is 4.40 m/s, and its mass is 0.255 kg, calculate the tension (in newtons) in the string when the ball is at the bottom of the path.
Receipt of first semiannual interest amount on december : Amortization by straight-line method of bond premium on December 31, 2006.  Receipt of first semiannual interest amount on December 31, 2006.
How do these transactions affect amti : Arnold sells the shares in 2007 for $165 per share. How do these transactions affect AMTI in 2004, 2006, and 2007?
Calculate net income for the year ended december : Calculate income from operations (operating income) for the year ended December 31, 2007.
Evaluate the triple integral : Evaluate the triple integral 0∫1 0∫20∫x z dz dy dx. Evaluate∫∫∫T z dV where T is the solid bounded by z = 0, and z = √(9-x2-y2)
Determine the maximum angle : A triangular prism with an apex angle of Φ = 60.0o has an index of refraction n = 1.56 (Fig. P35.33). What is the smallest angle of incidence θ1 for which a light ray can emerge from the other side?
Write the equation of motion for the system : Find the frequency and amplitude of the subsequent simple harmonic oscillations. Write equation of motion for the system. How much time does it take for the spring to compress x = 1.5 meters from equilibrium for the first time?
Determine the speed of block just before the collision : Determine the speed of block m1 just before the collision. Determine the velocity of each block after the collision. Determine how far up the incline that mass m1 will get to after the collision.

Reviews

Write a Review

Managerial Economics Questions & Answers

  Which event will michael decide to attend explain why

Which event will Michael decide to attend? Explain why. How much would Fred have to charge Michael for the concert ticket in order to make Michael not care which event he attended? Explain why.

  The firms accounting profit for the month equals what

Production does not stop during weekends. If the explicit costs total $150,000 for 30 days, the firm's accounting profit for the month equals what?

  Suppose the marginal cost for a firm

If the government imposes a specific tax of $1.00 per unit sold on this product, compute the dollar amount of dead weight loss.

  Manager compensation plan in car dealership

Two months before, the landlord of a car dealership significantly changed his sales manager's compensation plan. Under the old plan, the manager was paid a salary of $6000 every month

  Max is a home builder in the midwest

If the cost is raised to $65,000 what should he do? Based on these facts, what should Max do?

  Etermines the rate of growth

What determines the rate of growth in total factor productivity?

  Change the price elasticity of demand

2.What could be done to change the price elasticity of demand in a desirable direction?

  Price elasticity of demand for newtons donuts

Calculate the price elasticity of demand for Newtons Donuts and describe what it means. Describe your answer and show your calculations.

  Why the board of trustees might want to continue the policy

The board of trustees of the University of Medford has been asked to reconsider this policy. Provide an economic argument to explain why the board of trustees might want to continue this policy.

  How to overcome the risk for the industry and the business

As an owner of a visible U.S. business that is valued in the community, you are making a final decision regarding the international aspects of a business decision, and you decide to set up a table with various risks - how to overcome the risk for t..

  Corelli sues shelly to enforce the contract

Corelli sues Shelly to enforce the contract. Is this contract enforceable? Explain

  Find all pure strategy nash equilibria of this game

Suppose the final score is entirely based on the make-up test. If Al and Bob give the same answer on the flat tire question, both pass the exam, yielding a payoff of 10 for each of them.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd