Help me please urgent During the year, Belyk Paving Co. had sales of $2,380,000. Cost of goods sold,administrative and selling expenses, and depreciation expense were $1,320,000,$605,000, and $441,000, respectively. In addition, the company had an interest expenseof $266,000 and a tax rate of 22 percent. (Ignore any tax loss or carryforwardprovision and assume interest expense is fully deductible.)a. What is the company's net income? (A negative answer should be indicated by aminus sign. Do not round intermediate calculations and round your answer to thenearest whole number, e.g., 32.)b. What is its operating cash flow? (Do not round intermediate calculations and roundyour answer to the nearest whole number, e.g., 32.)Net incomeb. Operating cash flowa.$455,000

INCOME STATEMENT Income Statement is one of the important financial statement of the company.…

Answered: During the year, Belyk Paving Co. had…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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During the year, Belyk Paving Company had sales of $2,410,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,330,000, $625,000, and $447,000, respectively. In addition, the company had an interest expense of $272,000 and a tax rate of 24 percent. (Ignore any tax loss carryforward provision and assume interest expense is fully deductible.) a. What is the company's net income? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g.. 32. b. What is its operating cash flow? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. a. Net income b. Operating cash flow 27
During the year, Belyk Paving Co. had sales of $2,575,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,367,000, $690,000, and $480,000, respectively. In addition, the company had an interest expense of $305,000 and a tax rate of 25 percent. (Ignore any tax loss or carryforward provision and assume interest expense is fully deductible.) a. What is the company's net income? (A negative answer should be indicated by a minus sign. Do not found intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is its operating cash flow? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a. Net income b. Operating cash flow
During the year, Belyk Paving Co. had sales of $2,600,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,535,000, $465,000, and $520,000, respectively. In addition, the company had an interest expense of $245,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) (Enter your answer as directed, but do not round intermediate calculations.) Required: (a) What is Belyk's net income? (Negative amount should be indicated by a minus sign.) Net income (b) What is Belyk's operating cash flow? Operating cash flow A
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During 2018, Raines Umbrella Corp. had sales of $800,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $580,000, $90,000, and $150,000, respectively. In addition, the company had an interest expense of $89,000 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 $53,000 in cash dividends. If net capital spending and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt? (Do not round intermediate calculations.) Net new long-term debt
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