What is the Operating Income?
Q: The cost that is incurred in the process of generating the income will be called as O a. Expense O…
A: Expense is the amount of cost incurred during the period. Revenue is the total amount of receipts.…
Q: What items are included in the company's operating income?
A: The performance of the company will be evaluated using the operating income of the company.…
Q: Why is the income statement called the "profit and loss statement"?
A: Income Statement is called the profit and loss statement because it records all the incomes and…
Q: What formula is used to determine net profit
A: Net profit is the actual income earned by an organization after paying all the expenses. It is…
Q: What is comprehensive income? How does comprehensive income differ from net income? Where do…
A: Comprehensive income:Comprehensive income represents the amount of net income plus other…
Q: What does comprehensive income provides?
A: Net income: The bottom line of income statement which is the result of excess of earnings from…
Q: What is comprehensive income, and what does it include?
A:
Q: The difference between revenues and expenses is net income. What is net income?
A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…
Q: how much was net income?
A: Net Income = Change in Retained Earnings + Dividend paid Retained Earnings in 2017 = Total…
Q: haat is the relationship between Income Measurement and Asset Valuation?
A: Profit or loss calculation is indeed a simplified method of calculating income. An accountant…
Q: WHAT IS THE TOTAL COMPREHENSIVE INCOME
A: Incomes routed through profit and loss are shown pretax and at the end the income tax is reduced…
Q: What is retained earning
A: The retained earnings which is also known as ploughed back profit is expalined…
Q: How much is the Total Service and Business Income collected
A: Total service income collected: Particulars Amount(P) Permit Fee 410000 Processing fee 8000…
Q: Explain the components of non operating income.
A: Non Operating Income is that part of an organisation's income that is obtained from activities not…
Q: How much income should be declared by Junnel?
A: When creditor foregoes part/full claim and the creditor also pays cash, then these 2 are considered…
Q: termine income from the operations?
A: Income from operations is also known as operating income (EBIT) (IFO). The profit created by a…
Q: What is an income statement, and what information doesit provide?
A: A financial statement that comprises of all the records of money received as revenue and spent as…
Q: What are operating expenses?
A: Expenses refers to the money outflow or the assets outflow to another company or to individual…
Q: What is comprehensive income?
A: Definition: Comprehensive Income: When there is a change in the total stockholder's equity from all…
Q: Why must a cost be assigned to retained earnings?
A: Likewise, debt and equity financing, retained earnings has also some cost. The predictor care about…
Q: What is the relationship between Income Measurement and Asset Valua
A: Profit or loss calculation is a simplified method of calculating income. An accountant defines…
Q: How can we determine the net income from operations and then adjust the net income?
A:
Q: Income statement?
A: Income statement is one of the financial statement of the business, which shows all incomes and all…
Q: How to calculate or compute the operating income and the net income
A: Operating Income: Income generated from the business operation is called operating income. In simple…
Q: Net income *?
A: Looking the bottom line of the income statement, net income = P650000
Q: Define current operation income?
A: Current operation income otherwise called as operating income.Operating Income: Operating income is…
Q: When is Profit and Loss Account made? Why?
A: Profit and loss account: profit and loss account also called an income statement. Every business…
Q: Using the following information, what is the amount of income from operations?
A: 1. Rent Revenue isn't operating income. That's why its not added to calculate income from…
Q: How to compute the amount of net income or net loss
A: Net Income or net loss is computed by preparing the income statement.The first step in computing the…
Q: How much is the amount reported as Cther Income?
A: Other income is the income which a business or a company has earned during the year which has come…
Q: How does the income statement affect the balance sheet?
A: Balance Sheet: It is also termed as the Statement of Financial Position. Balance Sheet represents a…
Q: What is income approach measurement?
A: Step 1 The income approach is a real estate valuation tool that determines fair market value based…
Q: What is the net income
A: Income refers to the revenue which is received by the business when goods and services are sold or…
Q: What is the net income?
A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…
Q: What is gross income?
A: The concept of gross income can be understood in two contexts 1. for corporates 2. for individuals
Q: what is asset? what is gross profit?
A: Financial statements: These are the financial reports prepared by an organization for a financial…
Q: How do gross profits, operating income, and net income differ
A: In finance when making or analyzing an income statement we look into different types of income or…
Q: How do I calculate Net Income & Net Profit Margin
A: Net income: The bottom line of income statement which is the result of excess of earnings from…
Q: what is assets? what is non-current assets? what is current assets? what is equity? what is…
A: Since you have asked multiple questions, we will solve the first seveb questions for you. If you…
Q: What is net operating income approach, what are the assumptions of this approach. In what…
A: What is net operating income approach, what are the assumptions of this approach. In what conditions…
Q: What is the gross profit? | Select) How much is the operating expense? [ Select ] | Select) How much…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Explain the following and describe its impact on the financial statements: a. cost principle b.…
A: Financial statements are written records that present the business activities and the financial…
Q: What is the difference between operating and non –operating income?
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: lationship between Income Measurement and Asset Valuation
A: Profit or loss calculation is a simplified form of income measurement. Income is defined by an…
Q: How does EVA differ from accounting net income?
A: Economic Value Added and accounting net income are the methods of businesses that can be used to…
Q: Where is net profit shown in balance sheet?
A: The profit of a corporation is referred to as net profits.
Q: what is the revenue and gross profit
A: Revenue is the amount or income which has been earned during particular period of time. Gross profit…
What is the Operating Income?
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- The comparative statements of Pharoah Company are presented here: Pharoah CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,740 $1,758,700 Cost of goods sold 1,066,740 1,014,200 Gross profit 832,000 744,500 Selling and administrative expenses 508,200 487,200 Income from operations 323,800 257,300 Other expenses and losses Interest expense 23,400 21,400 Income before income taxes 300,400 235,900 Income tax expense 93,400 74,400 Net income $207,000 $161,500 Pharoah CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,000 111,000 Inventory 127,400 116,900 Total current assets 387,500 342,100 Plant assets…QUESTION 3 De Luna Bhd is a major retailer of branded cars in Peninsular Malaysia. The comparative Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive Income for De Luna Bhd as of 30 June 2019 are as follows: De Luna Bhd Statement of Financial Position As at 30 June 2019 2019 2018 RM'000 RM'000 Non-Current Assets Building Less: Accumulated depreciation 728,000 182,000 598,000 125,000 473,000 546,000 Current Assets Inventory Accounts receivable 252,000 107,000 282,000 90,000 39,000 52.000 463,000 Prepayment Cash 41,000 55.250 455.250 L001.250 Total current asset Total Assets 936,000 Equity Share capital Retained earnings Total equity 402,000 204.000 606.000 312,000 184.000 496.000 Long-Term liability Bond 102,000 132,000 Current liabili ties Accounts payable Salary payable Interest payable Total current liabilities 147,000 155,000 79,250 59.000 293.250 104,000 57.000 308.000 Total Liabilities Total Equity and Liabilities 0.000 936.000 395.250…Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31. 2020 $ 487,179 $ 373,219 2021 293,282 236,621 193,897 69,179 43,846 113,025 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets 84,347 80,872 52,251 15,042 10,711 $ 65,830 $ 41,540 KORBIN COMPANY Comparative Balance Sheets December 31 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities. Common stock Other paid-in capital Retained earnings Total liabilities and equity 136,598 51,504 32,843 2021 2020 2019 $ 259,000 165,760 93,240 34,188 21,497 55,685 37,555 7,624 $ 29,931 $ 64,678 116,492 0 $ 43,289 900 106,308 $ 181,170 $ 150,497 $ 26,451 66,000 8,250 80,469 $ 22,424 66,000 8,250 53,823 $ 181,170 $ 150,497 2019 $ 57,867 4,860 61,960 $ 124,687 $ 21,820 48,000 5,333 49,534 $ 124,687
- Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 442,035 $ 338,635 266,105 214,695 123,940 46,732 29,800 76,532 47,408 9,719 Sales Cost of goods sold Gross profit! Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings KORBIN COMPANY Comparative Balance Sheets Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Long-term investments Plant assets, net Total assets 175,930 62,769 39,783 102,552 73,378 13,648 $ 59,730 $ 37,689 Liabilities and…The comparative statements of Blossom Company are presented here: Blossom CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,899,640 $1,759,600 Cost of goods sold 1,067,640 1,015,100 Gross profit 832,000 744,500 Selling and administrative expenses 509,100 488,100 Income from operations 322,900 256,400 Other expenses and losses Interest expense 23,500 21,500 Income before income taxes 299,400 234,900 Income tax expense 93,500 74,500 Net income $205,900 $160,400 Blossom CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,900 111,900 Inventory 127,500 117,000 Total current assets 388,500 343,100 Plant assets…
- B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 285,468 2819 $363, 276 228,864 188, 732 134,412 67,336 50, 132 42,678 31, 968 119,014 82, 198 78, 718 52,312 14,642 19,724 $ 64,976 $ 41,588 S Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Common-Size Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 100.00 % 2019 100.00 % Assets Current assets Long-term investments Plant assets,…The comparative statements of Sunland Company are presented here: Sunland CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,440 $1,758,400 Cost of goods sold 1,066,440 1,013,900 Gross profit 832,000 744,500 Selling and administrative expenses 507,900 486,900 Income from operations 324,100 257,600 Other expenses and losses Interest expense 23,900 21,900 Income before income taxes 300,200 235,700 Income tax expense 93,900 74,900 Net income $206,300 $160,800 Sunland CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 125,700 110,700 Inventory 127,900 117,400 Total current assets 387,700 342,300 Plant assets…
- Comparitive balance sheet of Hillard Co. as of Dec 31, 2020 and 2021 is as under: Assets 2020 2021 Liabilities Cash Accounts Receivable Inventory Fixed Assets Investments Sales Cost of Goods Sold Gross profit 16,425 12,300 Salaries expenses Depreciation expense Income tax expense Admin. Expenses Net profit 16,100 163,000 13,500 221,325 28,025 10,600 Income statement for the year 2021 is as under: 18,400 206,300 9,200 272,525 829,400 614,450 214,950 12,900 11,600 1,150 164,400 24,900 Accounts Payable Salaries Payable Income tax payable Loans Payable Retained earnings Please prepare the cash flow statement using the indirect method. 2020 26,900 2,400 1,600 106,250 84,175 221,325 2021 33,450 3,100 2,050 113,250 120,675 272,525The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)The comparative statements of Wahlberg Company are presented here. Wahlberg CompanyIncome StatementFor the Years Ended December 31 2020 2019 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500 772,700 Selling and administrative expenses 519,800 472,000 Income from operations 286,700 300,700 Other expenses and losses Interest expense 17,100 14,200 Income before income taxes 269,600 286,500 Income tax expense 80,015 77,500 Net income $ 189,585 $ 209,000 Wahlberg CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,600 $64,600 Debt investments (short-term) 69,100 50,300 Accounts receivable 117,500 102,800 Inventory 123,600 115,600 Total current assets 370,800 333,300…