Calculate operating income for the period

Assignment Help Accounting Basics
Reference no: EM13911434

Selling, general, and administrative expenses were $132,000; net sales were $600,000; interest expense was $14,200; research and development expenses were $63,000; net cash provided by operating activities was $159,300; net income was $33,600; income tax expense was $15,200; cost of goods sold was $330,000.

Required:
a. Calculate operating income for the period.
b. Calculate net income for the period.

Reference no: EM13911434

Questions Cloud

When evaluating the expansion option-initial cost of project : Wilbert's, Inc. paid $90,000, in cash, for a piece of equipment three years ago. Last year, the company spent $10,000 to update the equipment with the latest technology. When evaluating the expansion option, what value, if any, should Wilbert's assig..
Comprehensive problem calculate missing amounts : Comprehensive problem calculate missing amounts, issue price, net income, and dividends; interpret stock dividend and split.
Discuss what you''ve learned about these items : Focus company stockholders equity disclosures In Exercise 1.1, you were asked to obtain the most recent annual report of a company that you were interested in reviewing throughout this term.
Calculate gross profit and the gross profit ratio : Net sales for the year were $900,000 and cost of goods sold was $558,000 for the company's existing products.
Calculate operating income for the period : Selling, general, and administrative expenses were $132,000; net sales were $600,000; interest expense was $14,200; research and development expenses were $63,000; net cash provided by operating activities was $159,300; net income was $33,600; income..
Calculate basic earnings per share : Net income was $329,550 for the year. Throughout the year the company had outstanding 18,000 shares of $2.50, $50 par value preferred stock and 105,000 shares of common stock.
Calculate the net cash provided : Net income was $44,700; accounts receivable decreased by $12,000; inventory increased by $7,200; proceeds from the issuance of long term debt were $15,000; accounts payable decreased by $4,100; equipment purchases were $50,000; depreciation and amort..
Refer to the consolidated statements of earnings : Refer to the consolidated statements of earnings on shown below of the Campbell Soup Company annual report in the appendix.
Operating income versus net income : Operating income versus net income. Refer to the selected financial data (five year financial summary) on figure shown below of the Campbell Soup Company annual report in the appendix.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate balances for each of the t-accounts

Calculate balances for each of the t-accounts and then prepare an adjusted trial balance as of December 31, 2012.

  Nitkse company purchased at a cost of 10500 and used 3500

nitkse company purchased at a cost of 10500 and used 3500 kg of materials during may. nitkses standard cost of

  July 1 purchased 350 shares of bateman company stock at 22

investment in trading securities-journal entriesprepare the journal entries to account for the following investment

  Information is available on stewart enterprises

There are three partners in Stewart Enterprises: Stewart, Tedder and Armstrong. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.

  The remaining capacity can be used to produce 20000 units

a corporation has 2 divisions division 1 and division 2. division 1 makes product a product b and product c. those

  Product a requires 5 machine hours per unit to be produced

product a requires 5 machine hours per unit to be produced product b requires only 3 machine hours per unit and the

  Evaluate the corrected trial balance

Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.

  Part j88 is used in one of quinney corporations products

part j88 is used in one of quinney corporations products. the company makes 3000 units of this part each year. the

  In 2009 jed james began planting a vineyard the cost of the

in 2009 jed james began planting a vineyard. the cost of the land preparation labor rootstock and planting were

  Jarvie loves to bike in fact he has always turned down

jarvie loves to bike. in fact he has always turned down better paying jobs to work in bicycle shops where he gets an

  Identify the four basic financial statements

Identify the four basic financial statements. Describe the purpose of each of the four financial statements.

  Analysis of county revenues shows that approximately

Analysis of county revenues shows that approximately 50 percent are from the sales tax. The year end fund balance is entirely classified as Unassigned.

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