Income statement for the year-nusa manufacturing company

Assignment Help Finance Basics
Reference no: EM132673390

At the end of its third year of operations, the Nusa Manufacturing Company had $4,650,000 in revenue (sales); $3,500,000 in cost of goods sold; $475,000 in total operating expenses; $70,000 in interest expense and had a tax liability equal to 30% of the firm's taxable income. Construct an income statement for the year and find the net profit?

Reference no: EM132673390

Questions Cloud

What is Drab ordinary business income : Problem - Drab, a calendar year S corporation, incurred the following this year. What is Drab's ordinary business income
Explain components of the head-to-toe physical assessment : As nurses we complete physical assessment on a routine basis, but typically these are focused assessments. Which components of the head-to-toe physical.
Personality assessments-tests of knowledge and skill : Personality assessments are widely used in the workplace for purposes of personal growth, career guidance, and personnel selection.
What is Bill dividend income : At a time when Emerald Corporation has E & P of $200,000, it distributes land to its sole shareholder, Bill. What is Bill dividend income
Income statement for the year-nusa manufacturing company : At the end of its third year of operations, the Nusa Manufacturing Company had $4,650,000 in revenue (sales); $3,500,000 in cost of goods sold
What is the character of the distribution to Emily : In 2019, Emily receives a distribution of $125,000 from her wholly owned calendar year corporation. What is the character of the distribution to Emily
Explain factors that impact performance on objective tests : Describe your immediate reaction to the scenario. What are the details you immediately noticed? What questions did the scenario raise about testing?
Product appears as advertisement in social media : When you look at products on a search engine, that same product appears as an advertisement in your social media and other sites you visit.
What is Olivia recognized gain : Each receives 1,000 shares of Gray stock, but Olivia also receives cash of $20,000. (Each share of stock is worth $180.) What is Olivia recognized gain

Reviews

Write a Review

Finance Basics Questions & Answers

  What are the responsibilities of the chief accountant

What spurred the creation of the SEC? Why was the SEC created - what are the 5 divisions of the SEC? Briefly describe the purpose of each.

  Test the assumption that consultant a

Test the assumption that Consultant A has higher satisfaction ratings at the 5% significance level. Show all the steps.

  Declared bankruptcy in the midst of the great recession

Both General Motors and Chrysler declared bankruptcy in the midst of the "great recession". Their bankruptcies were referred to as "prepackaged"

  Find the optimal capital structure

The financial manager of a company determines the following schedules of cost of debt and cost of equity for various combinations of debt financing:

  Determining the meaningful for spiritual growth

Describe the four sights that the young Siddhartha Guatama experienced upon leaving the palace. Reflect on the significance of each of the four sights. Why do you think these sights caused him to begin to seek religious answers? Do you think such r..

  Reba mc entire wishes to invest 19000 on july 1 2011 and

reba mc entire wishes to invest 19000 on july 1 2011 and have it accumulate to 49000 by july 1 2021. use a financial

  Assume the settlement rate in problem 2

Assume the settlement rate in problem 2 is 61/8 percent. What is the solution now?

  What are the downsides to a common market

What are the downsides to a common market? What are some of the factors that drove the UK to vote to exit the EU? Are their concerns shared with other common

  Annual interest rate does this account offer

A financial institution offers "double-your-money" savings account in which you will have $2 in 8 years for every dollar you invest today.

  Principal balance of loan

You decide to apply this $20,000 to the principal balance of your loan.

  Give the evaluation of pay back period method

Give the Evaluation of Pay Back Period Method.

  What is the current value of a zero-coupon bond

1. What is the current value of a zero-coupon bond that pays a face value of $1,000 at maturity in 11 years if the appropriate discount rate is 12%.

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