May I ask for a solution and explanation to the problem for a better understanding. Thank you! For Carrot Corp, what is the debt to asset ratio? a. 25.52 : 1 b. 23.64 : 1 c. 20 : 1 d. 22.54 : 1
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May I ask for a solution and explanation to the problem for a better understanding. Thank you!
For Carrot Corp, what is the debt to asset ratio?
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- Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000The 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.)Fact Pattern: RST Corporation Comparative Income Statements for the Years 5 and 6 Year 6 Year 5 Sales (all are credit) $285,000 $200,000 Cost of goods sold 150,000 120,000 Gross profit $135,000 $ 80,000 Selling and administrative expenses 65,000 36,000 Income before interest and income taxes $ 70,000 $ 44,000 Interest expense 3,000 3,000 Income before income taxes $ 67,000 $ 41,000 Income tax expense 27,000 16,000 Net income $ 40,000 $ 25,000 RST Corporation Comparative Balance Sheets End of Years 5 and 6 Assets Year 6 Year 5 Current assets: Cash $ 5,000…
- 17) Use the data below to answer the question that follows. Corporate Tax Rate Year Revenues Cost of Goods Sold Selling and Admin. Expenses Capital Cost Allowance Accounts Receivable Inventory Accounts Payable Gross Fixed Assets 30% 1 2 3 $330,000 $340,000 $380,000 $110,000 $150,000 $180,000 $50,000 $130,000 $140,000 $11,000 $12,000 $13,000 $40,000 $43,000 $47,000 $35,000 $38,000 $39,000 $15,000 $18,000 $19,000 $100,000 $120,000 $130,000 The cost of goo sold row excludes any depreciation or capital cost allowance. What is the free cash flow generated for year 2? a) $22,300 b) $22,450 c) $22,600 d) $27,250 e) $31,900Net income after taxes Income Tax Interest Expense Net Sales Cost of Goods Sold Operating Expenses What is the times interest earned? P18,000 12,000 80,000 620,000 460,000 50,000Below are the Income Statement of ABC Company for two consecutive years. ABC Company Net Sales Cost of Goods Soldxs3 Year 1 P 5,000,000 880,000 Year 2 P 6,500,000 950,000
- Question 1:- Brodsky's Corporation had net sales of 2600000, Sales discounts 45000, cost of goods sold 1440000, Notes receivable 115000, A/R 15000, other expenses 100000, administrative expenses 206000, with drawls 47000, selling expenses 280000, and interest expense 29000, other revenues 500000 . Brodsky's tax rate is 30%. R/Prepare income statement for the year ended December 31, 2014.A resident corporation has the following data on income and expenses in 2018: Gross sales ₱ 935,000 Sales returns and allowances 25,000 Sales discounts 10,000 Interest income on trade notes receivable 15,000 Cost of sales 400,000 Operating expenses with receipts 215,000 Operating expenses without receipts 200,000 How much is the taxable income using itemized deduction? a. ₱100,000 b. ₱300,000 c. ₱309,000 d. ₱349,000 ANSWER:Common-Size Income StatementsConsider the following income statement data from the Ross Company: Current Year Previous Year Sales revenue $529,000 $454,000 Cost of goods sold 336,000 279,000 Selling expenses 109,000 103,000 Administrative expenses 64,000 58,000 Income tax expense 7,800 5,400 Prepare common-size income statements for each year. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). Note: Compute percentages for each "Total" (do not add prior percentage amounts to arrive at Totals). ROSS COMPANYCommon-Size Income Statements(Percent of Sales Revenue) Current Year Previous Year Sales Revenue Answer Answer Cost of Goods Sold Answer Answer Answer Answer Answer Answer Selling Expenses Answer Answer Administrative Expenses Answer Answer Total Answer Answer Income before Income Taxes Answer Answer Answer Answer Answer Answer Answer Answer PreviousSave AnswersNext
- A firm has been experiencing low profitability in recent years. Perform an analysis of the firm's financial position using the DuPont equation. The firm has no lease payments but has a $3 million sinking fund payment on its debt. The most recent industry average ratios and the firm's financial statements are as follows: Industry Average Ratios Current ratio Debt-to-capital ratio Times interest earned EBITDA coverage Inventory turnover Cash and equivalents Accounts receivables Inventories Total current assets 2x 17% 3 x 6 x 11 x Days sales outstandinga Calculation is based on a 365-day year. Balance Sheet as of December 31, 2021 (millions of dollars) $78 Accounts payable Other current liabilities 51 125 Notes payable $ 254 Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity Gross fixed assets Less depreciation Net fixed assets Total assets 15 days Fixed assets turnover Total assets turnover…For income tax purposes, what is the amount of gross income given the following amounts? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P3,900,000.00 P1,600,000.00 P2,400,000.00 P1,700,000.00Based on the following amounts, how much is the income tax due based on the 25% regular corporate income tax rate? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P975,000.00 P400,000.00 P600,000.00 P425,000.00