Prepare a multiple-step income statement

Assignment Help Business Management
Reference no: EM131775545

The Alpha Company gathered the following condensed data for the year ended December 31, 2014:

Preferred stock dividends paid 

$50,000

Net Sales 

825,000

Interest revenue  

10,000

Selling expenses  

225,000

Administrative expenses  

125,000

Cost of Goods Sold 

400,000

Income tax percentage 

30%

 

Instructions:

(1) Prepare a multiple-step income statement for the year ended December 31, 2014.

(2) Compute the gross margin percentage and net profit margin ratio. Alpha Company's assets at the beginning of the year were $1,500,000, and the assets were $1,400,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings.

Reference no: EM131775545

Questions Cloud

Please explain the difference between accounts receivable : Please explain the difference between accounts receivable and accounts payable
Please comment on the restaurant owner reasoning : Please comment on the restaurant owner's reasoning. Is he correct? What would you show the restaurant owner to change his mind?
The demand for heart transplant surgery : The demand for heart transplant surgery at Washington General Hospital has decreased steadily in the past few years.
Discuss the traditional municipal waste incinerator : Discuss traditional municipal waste incinerator. As a solid waste professional, you have been hired by city council to provide an analysis of two technologies.
Prepare a multiple-step income statement : The Alpha Company gathered the following condensed data for the year ended December 31, 2014:
Difference between the input and output flow rates : Water flows in a tank of diameter d = 1 m with an input volume flow rate qi = 0.1 m3 /s. At the base of the tank is a discharge pipe of length l = 3 m
What are the income tax effects for wendy : What are the income tax effects for Wendy of her investment in Britton Company if Britton is organized as a corporation
Krimton corporation manufacturing costs : Krimton Corporation's manufacturing costs last year consisted of $150,000 of direct materials, $200,000 of direct labor, $40,000 of variable manufacturing
Develop marketing communications to influence buyer behavior : what could be some of the implications for marketers when they develop marketing communications to influence buyer behavior?

Reviews

Write a Review

Business Management Questions & Answers

  Describe bad-news from the company to the recipient

Provide bad-news from the company to the recipient. Concentrate on the facts of the situation and use either the inductive or deductive approach.

  Write method to enhance upon communication

Share the example of communication which you have seen or received which you thought was excellent and describe why this piece of communication spoke to you and point out one or two main points.

  Discrete distribution-how many should be made daily

Total demand for daily perishable item is a random variable with a distribution estimated below. Each item costs 0.60 in materials and labor and then sold for 2.50 each. All unsold items are donated for a 0.20 credit each

  List the value of total imports and exports

Give data on their trade patterns. List the value of total imports and exports, and specifically total imports and exports to and from each other.

  Define open systems and describe the internal

Define "open systems" and describe the internal, competitive, and macro environments of an organization.

  Relational and multidimensional databases

Both relational and multidimensional databases provide information needed to support management decision making.

  What is ikea''s choice of international entry mode

Discuss the uncertainties and risks of doing business in different regions throughout the world.

  Identifying qualities that made leader ineffective leaders

Regarding the bad, ineffective leaders, identify the qualities that made them ineffective leaders.

  Increase an organization''s competitive advantage

Discuss and provide examples of best practices an organization can implement to leverage diversity in areas such as group management, recruiting, hiring, retention, and development practices to increase an organization's competitive advantage.

  Produce product in romania employee training repatrition

produce product in romania employee training repatrition compensationyour company sells underwear for men and women.

  Constructive internal narrative of success

What can Tim do to develop an alternative, more constructive internal narrative of success? As a coach, how would you work with Tim to confront his fear of success?

  Has technology also affected the ethics of purchasing

Discuss how technology has impacted the legal aspects of the purchasing process. Has technology also affected the ethics of purchasing?

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