In 2021, PacMan Inc. had a net operating profit after-taxes of P20,000,000 and an effective tax rate of 20%. Its earnings before interest, taxes, depreciation and amortization was P45,500,000 and net income of P12,200,000. During 2022, PacMan Inc. made P14,500,000 capital expenditures net of depreciation. Determine the total depreciation and amortization expense of Bulldogs Inc.

In 2021, PacMan Inc. had a net operating profit after-taxes of P20,000,000 and an effective tax rate of 20%. Its earnings before interest, taxes, depreciation and amortization was P45,500,000 and net income of P12,200,000. During 2022, PacMan Inc. made P14,500,000 capital expenditures net of depreciation. Determine the total depreciation and amortization expense of Bulldogs Inc.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 12P

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In 2021, PacMan Inc. had a net operating profit after-taxes of P20,000,000 and an effective tax rate of 20%. Its earnings before interest, taxes, depreciation and amortization was P45,500,000 and net income of P12,200,000. During 2022, PacMan Inc. made P14,500,000 capital expenditures net of depreciation. Determine the total depreciation and amortization expense of PacMan Inc.
In 2021, Bulldogs Inc. had a net operating profit after-taxes of P20,000,000 and an effective tax rate of 20%. Its earnings before interest, taxes, depreciation and amortization was P45,500,000 and net income of P12,200,000. During 2022, Bulldogs Inc. made P14,500,000 capital expenditures net of depreciation. Determine the total depreciation and amortization expense of Bulldogs Inc.
During 2020, Raines Umbrella Corp. had sales of $940, 000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $680,000, $85,000, and $165,000, respectively. In addition, the company had an interest expense of $53, 000 and a tax rate of 21 percent. (Assume that interest is fully deductible.) a. What was the company's net income or net loss for 2020? (Do not round intermediate calculations. Input your answer as a positive value.) b. What was its operating cash flow? (Do not round intermediate calculations.)
During 2021, Raines Umbrella Corporation had sales of $860,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $110,000, and $125,000, respectively. In addition, the company had an interest expense of $87,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume that interest is fully deductible.) a. What is the company's net income for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) b. What is its operating cash flow? (Do not round intermediate calculations.) a. Net income b. Operating cash flow
During 2023 , Ewha Corp had sales of $650,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $540,000,$85,000, and $135,000, respectively. In addition, the company had an interest expense of $75,000 and a tax rate of 35 percent. (Ignore any tax loss carryback of carry forward provisions.) a. What is Ewha Corp's net income for 2023? b. What is its operating cash flow?
During 2021, Raines Umbrella Corporation had sales of $860,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $680,000, $85,000, and $180,000, respectively. In addition, the company had an interest expense of $55,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose the company paid out $65,000 in cash dividends. If net capital spending and net working capital were both zero, and if no new stock was issued during the year, what is the net new long-term debt? (Do not round intermediate calculations.) Answer is complete but not entirely correct. Net new long-term debt $ 205,000 X
During 2019, Rainbow Umbrella Corp. had sales of $630,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $465,000, $85,000, and $135,000, respectively. In addition, the company had an interest expense of $70,000 and a tax rate of 21 percent. (Assume that interest is fully deductible. Ignore any carryforward or carryback.) What is the company's net income for 2019? What is the operating cash flow?
During 2021, Raines Umbrella Corporation had sales of $760,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $550,000, $90,000, and $95,000, respectively. In addition, the company had an interest expense of $94,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume that interest is fully deductible.) a. What is the company's net income for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) b. What is its operating cash flow? (Do not round intermediate calculations.)
During 2021, Raines Umbrella Corporation had sales of $830,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $575,000, $125,000, and $145,000, respectively. In addition, the company had an interest expense of $80,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose the company paid out $59,000 in cash dividends. If net capital spending and net working capital were both zero, and if no new stock was issued during the year, what is the net new long-term debt?
Shenron, Inc. had pre-tax accounting income of P1,350,000 and a tax rate of 40% in 2020, its first year of operations. During 2020 the company had the following transactions: Received rent from Master, Co. for 2021 P48,000 Municipal bond income P60,000 Depreciation for tax purposes in excess of book depreciation P30,000 Installment sales revenue to be collected in 2021 P81,000 For 2020 what is the amount of income taxes payable for Shenron, Inc? a. P579,600 b. P452,400 c. P514,800 d. P490,800
During 2021, Raines Umbrella Corporation had sales of $754,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $459,000, $101,500, and $147,000, respectively. In addition, the company had an interest expense of $73,200 and a tax rate of 24 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) a. What is the company’s net income/loss for 2021? (Do not round intermediate calculations and enter your answer as a positive value.) b. What is the company's operating cash flow? (Do not round intermediate calculations.)
Riyadh Ltd. generated total sales of $32,565,420 during fiscal 2021. Depreciation and amortization for the year total $1,278,120, and the cost of goods sold was $21,400,000. Interest expense for the year was $6,341,250 and selling, general, and administrative expenses total $2,556,610 for the year. If Riyadh Ltd. tax rate was average 30 percent, what is its net income after taxes? (Show your calculations)