2. Griffin's Goat Farm, Inc., has sales of $554,000, costs of $205,000, depreciation expense of $41,000, interest expens

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2 Griffin S Goat Farm Inc Has Sales Of 554 000 Costs Of 205 000 Depreciation Expense Of 41 000 Interest Expens 1 (68.09 KiB) Viewed 124 times

2 Griffin S Goat Farm Inc Has Sales Of 554 000 Costs Of 205 000 Depreciation Expense Of 41 000 Interest Expens 2 (12.32 KiB) Viewed 124 times

2 Griffin S Goat Farm Inc Has Sales Of 554 000 Costs Of 205 000 Depreciation Expense Of 41 000 Interest Expens 3 (37.56 KiB) Viewed 124 times

2. Griffin's Goat Farm, Inc., has sales of $554,000, costs of $205,000, depreciation expense of $41,000, interest expense of $28,000, and a tax rate of 22 percent. What is the net income for this firm? 3. Griffin's Goat Farm, Inc., has sales of $666,000, costs of $328,000, depreciation expense of $72,000, interest expense of $46,000, a tax rate of 24 percent, and paid out $48,000 in cash dividends. What is the addition to retained earnings? 4. Griffins Goat Farm, Inc., has sales of $671,000, costs of $333,000, depreciation expense of $77,000, interest expense of $48,500, a tax rate of 24 percent, and paid out $44,500 in cash dividends. The firm has 28,000 shares of common stock outstanding. a. What are the earnings per share figure? b. What are the dividends per share figure? 5. Pompeii, Inc., has sales of $48,500, costs of $22,400, depreciation expense of $2,100, and interest expense of $1,850. the tax rate is 25 percent, what is the operating cash flow, or OCF? 6. Logano Driving School's 2017 balance sheet showed net fixed assets of $3.6 million, and the 2018 balance sheet showed net fixed assets of $4 million. The company's 2018 income statement showed a depreciation expense of $400,000. What was net capital spending for 2018?

7. The 2017 balance sheet of Dream, Inc., showed current assets of $2,900 and current liabilities of $1,330. The 2018 balance sheet showed current assets of $2,870 and current liabilities of $1.515. What was the company's 2018 change in net working capital, or NWC? Page 1 of 2

8. The corporate tax rates for a particular year are given below: Taxable income Tax rate $0 - 50,000 15% 50,001 - 75,000 25% 75,001 - 100,000 34% 100,001 - 335,000 39% What is the average tax rate for a firm with taxable income of $129,013? 9. Public companies in the United States must follow when their accountants prepare their financial statements. a) International Financial Reporting Standards (IFRS) b) Financial management guidelines c) Generally Accepted Accounting Principles (GAAR 10. Which of the following financial statement shows the book value a firm's assets, liabilities, and equities as of a particular date instead of a period of time? a) Income statement b) Dividend statement c) Balance sheet