Use the income statement for Microsoft Corporation to compute "NOPAT (net operating profit after taxes)." The company's combined federal and state statutory tax rate is 37.0%. What is the company's NOPAT? *Need an Excel spreadsheet for calculation? - MICROSOFT CORP. Income Statement June 30, 2016 (in millions) Revenue Product Service Total revenue --> MS Excel $61,502 23,818 85,320
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- Calculate the net income after corporate income tax is paid for Quarter 1 from the following income statement. Use a corporate income tax rate of 21%. Q1 (x1000) Q2(x1000) Net Sales 115 125 COGS (30) (31) Gross Profit 85 94 Overhead (32) (41) Pre-tax Income 53 53 Net Income = $[?] Multiply your result by 1000 before entering. For example: 1.23 (x1000) = $1,230. %3D Enter Copyright 2003 - 2021 Acellus Corporation. All Rights Reserved,The summarized revenues and expenses information for Canadian Travel Inc. for the year 2018 states:1cost of goods sold CAD180,000, sales revenue CAD400,000, other (non-operating) revenues and gainsCAD30,000, sales general and administration expenses of CAD100,000. Net interest income is (+)CAD10,000 and the corporate income tax rate is 26,50%: Prepare the Income (i.e. Pro t & Loss) Statement of Holiday Inc., showing Gross Pro t, OperatingPro t, Other gains/(losses), Earnings before Interest and Tax (EBIT), Pro t before Tax and NetIncome i.e. Net Pro t. Point out and explain which of all these revenue and expense items may imply/include non-cashtransactions or accounting records. If the ending balance in Retained Earnings on Canadian Travel Inc.s 31. Dec 2017 balance sheetwas $1,000,000 and a cash dividend of $10,000 was paid in 2018, using the above information showthe balance sheet entries of Retained Earnings as of 31. Dec 2018.In addition to the above, assume that Canadian…K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
- Compute NOPAT Selected income statement information for 2018 is presented below for Home Depot Inc. and Lowe's Companies Inc. Assume the statutory tax rate is 22%. Company ($ millions) Ticker Sales NOPBT HD $108,203 $15,530 Home Depot Lowe's LOW 71,309 4,018 a. Compute the following measures for both companies. 1. NOPAT Company Home Depot $ Lowe's $ Home Depot $ Lowe's $ 3. NOPM NOPAT 2. RNOA Note: 1. Select the appropriate numerator and denominator used to compute RNOA from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute RNOA. Company Denominator RNOA Numerator Tax on operating profit 4. NOAT NOPAT Home Depot $ Lowe's $ 0 x 0 x Pretax Net Nonoperating Tax Expense Expense $974 $3,435 624 1,080 Home Depot $ Lowe's $ Numerator Net income ♦ Average NOA 0 x $ 0 x $ Note: 1. Select the appropriate numerator and denominator used to compute NOPM from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute NOPM. Company…Use the following income statement of Elliott Game Theory Consulting to determine its net operating profit after taxes (NOPAT). Use 25% as the tax rate. Elliott Game Theory Consulting Income Statement for Year Ending December 31Extract from XYZ's financial statements for the year ended 30 April 2015 and comparatives are shown below: Income Statement Year ending 30.04.2015 Year ending 30.04.2014 Profit before tax RM 800 RM 650 Income tax expense ( RM 350 ) ( RM 290 ) ___________ ___________ Profit after tax RM 450 RM 360 ======= ======= At 1 May 2014, XYZ has 900 million RM 1 ordinary shares in issue. Calculate the basic EPS for 2015, with that for 2014 as comparative figure in the following situations: a) No changes in shares in the year ended 30 April 2015. b) An issue of 50 million shares at full market price took place on 1 December 2014. c) A bonus issue of 1 share for every…
- 1. A company operating since 2010, reported its income statement for the year 2018 as follows: Sales .3,300,000 Cost of sales. -1.720.000 1,580,000 1.100.000 .480,000 Gross income. Operating Expenses. Net Income. If the company is a sole proprietorship and using the 8% Gross Receipts Tax Income Tax is: a. 126,400 b. 38,400 C. 264,000 d. Answer not given - 50,000 2. Mr. De Goma, resident citizen and working in a company reported the following for the year: Salary . Overtime Pay.. 13th month Pay. 285,000 *... 40,000 15,000 Bonus Pay. 120,000 455,000 Total. Income tax is: a. 91,000 b. 43,750 C. 41,000 d. 24,000The following are the financial statement Quick Ltd. for the year ended 31st December 2020: Quick Ltd. Income statement For year ended 31st December 2020 $”000” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) Profit before tax 150.00 Tax (70.00) Profit after tax 80.00 Quick Ltd. Statement of financial position as at 31 December 2020 2019 $”000” $”000d” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…Zoom Industries. The following balance sheets and income statements are for Zoom Industries., a cloud services provider. For purposes of these questions assume that the company has an effective tax rate of 25%. ASSETS ($ in thousands) Fiscal year end 2020 2019 2018 Cash $ 875,650 $ 571,250 $ 154,230 Marketable securities 6,560 0 0 Receivables 771,580 775,250 902,000 Inventories 1,320,150 1,254,600 1,418,500 Other current assets 249,000 231,200 229,900 Total current assets 3,222,940 2,832,300 2,704,630 Property, plant & equipment 1,118,750 1,100,300 1,122,400 Intangibles 263,050 241,000 215,600 Deposits & other assets 184,500 168,250 168,900 Total assets $4,789,240 $4,341,850 $4,211,530 LIABILITIES ($ in thousands) Fiscal…
- The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…For Year Ended December 31, 2023 Gross Sales Cost of sales Gross Profit Salaries & Wages Repairs & Maintenance Bad Debt expense Rent Expense GAAP/Book Book-Tax adj. Form 1120 Tax Return 45,000,000 (27,450,000) 17,550,000 (3,890,000) (765,000) (380,000) (1,350,000) 45,000,000 (27,450,000) 17,550,000 (3,890,000) (765,000) (380,000) (1,350,000) (252,850) (1,585,000) Payroll Tax Expense (252,850) Federal Income Tax Expense (1,585,000) Interest expense (48,000) (48,000) Charitable Contributions (1,550,000) (1,550,000) Depreciation expense Advertising expense Pension Expense Meals expense (2,000,000) (67,000) (310,000) (2,000,000) (67,000) (310,000) (35,000) (35,000) Total Expenses (12,232,850) (12,232,850) Long-term Capital Gain 389,000 389,000 Short-term Capital Loss (524,600) (524,600) Total Other Income/(Loss) (135,600) (135,600) Taxable Income/(Loss) 5,181,550 5,181,550 NOTES related to the book-tax differences: 1.) MACRS depreciation for 2023 is $1,655,000 2.) 3.) The allowance method…The following is the income statement belongs to Excel Star LLC for the year ending 31 December 2020: Excel Star LLC Income Statement for the year ending 31December 2020 Net Sales OMR 25000 Cost of Goods Sold 7000 Gross Profit 18000 Operating Expenses 8000 Operating Income 10000 Other Income: Interest Income ____4000 Profit Before Tax OMR 14000 If the company pays an income tax expense on its profit at 30%, determine the amount of tax payable Select one: a. 10000 OMR b. 9800 OMR c. 4200 OMR d. 18200 OMR