Prepare income statement for shaquille corporation

Assignment Help Finance Basics
Reference no: EM131522421

Question: Shaquille Corporation has income before tax of $1.2 million and income tax expense of $300,000 for the year ended December 31, 2012, before considering the following items:

(1) a $225,000 gain, after tax, from the disposal of an operating segment, and

(2) an extraordinary loss of $150,000, after tax, due to a plant explosion.

Required: Prepare the 2012 income statement for Shaquille Corporation beginning with income before tax.

Reference no: EM131522421


Write a Review


Finance Basics Questions & Answers

  Equipment for the cardiac catheterization

You are considering acquiring new equipment for the cardiac catheterization lab. You have the option to lease, or to buy the equipment. Your proposal will need to be vetted or cleared through the CFO, who will want all the details and reasoning in..

  What is the highest dividend tax rate of an investor

Absent transactions costs, what is the highest dividend tax rate of an investor who could gain from trading to capture the dividend?

  Vedder inc has 5 million shares of common stock outstanding

vedder inc has 5 million shares of common stock outstanding. the current share price is 73 and the book value per share

  What is the accounts receivable balance

Suppose that Sales for the entire year were $100,000 and Cost of Goods Sold was 80% of Sales. The Inventory Conversion period is 40 days, the Accounts Payable Balance is $2,000, and the Operating Cycle is 60 days. 6. What is the Accounts Receivabl..

  T management of inventory is important because a

q1. the management of inventory is important becausea. carrying too much inventory can result in a loss of efficiency

  Define retained earnings what are the primary components of

define retained earnings. what are the primary components of retained earnings at the end of each

  What is the firms profit margin

A firm has sales of $211,000, depreciation of $24,600, interest expense of $560, COGS of $148,900, other cost of $6,500, and tax rate of 35%. What is the firm's profit margin?

  What is the projected net income

A proposed new investment has projected sales of $836,000. Variable costs are 56 percent of sales, and fixed costs are $187,540; depreciation is $96,500. Assume a tax rate of 40 percent.

  What was the company operating cash flow

a. What was the firm's net income for the year?b. What was the firm's net cash flow?c. What was the company's operating cash flow?

  The finance department of biotrend industries

It is the end of 2014 and you are working in the finance department of BioTrend Industries. The CFO of the company knows that you just earned a BBA from Georgia, which is known for its rigorous education in Finance; hence, he asks you to deter..

  Debt and equity are considered entities

Suppose the given statement by a financial manager: "Since we are financing our new manufacturing facility 100 percent with equity, we must estimate it using a higher rate of return than we would if we financed a portion of the facility with debt."

  What primary care rate will families first propose

Each primary care physician can handle about 3,000 patient visits per year, for which he or she is paid $180,000. What primary care rate (PMPM) will Families First propose to ABC Company?

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