Question
At the end of its third year of operations, the Sandifer Manufacturing Co. had 4537000 in revenues, 3393000in cost of goods sold, 442000 in operating
At the end of its third year of operations, the Sandifer Manufacturing Co. had 4537000 in revenues, 3393000in cost of goods sold, 442000 in operating expenses which included depreciation expense of 151000 , and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest 51000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend toSandifer's stockholders? Complete the income statement for Sandifer Manufacturing Co.:(Round to the nearest dollar.) Revenues = $ 4,537,000 Less: Cost of Goods Sold = $ 3,393,000 Equals: Gross Profit = $ 1,144,000 Less: Operating Expenses = $ 442,000 Equals: Net Operating Income = $ 702,000 Less: Interest Expense = $ 0 Equals: Earnings before Taxes = $ 702,000 Less: Income Taxes = $ 238,680 Equals: Net Income = $ 463,320
The amount that the company will be able to pay as a cash dividend is $???. (Round to the nearestdollar.) Thank you!
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