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Please carefully read questions 5 and 6 and answer them correctly. i will give a thumbs up please make answers clear and legible. 5. How
Please carefully read questions 5 and 6 and answer them correctly. i will give a thumbs up please make answers clear and legible.
5. The following information has been provided by Ratt Company for the year ended December 31, 2018: Net income was $71,000; Income tax expense was $47,000; Dividends declared and paid totaled $7,500; Interest expense was $8,700; Loss on sale of plant assets was $15,000; Operating expenses totaled $91,000; Cash collected from customers was $220,000. How much was Ratt's operating income from normal business operations? 6. The Bosco Company has provided the following account balances: Cash $152,000; Short-term investments $18,000; Accounts receivable $36,000; Inventory $116,000; Long-term notes receivable $44,000; Equipment $174,000; Factory Building $270,000; Intangible assets $33,000; Accounts payable $130,000; Accrued liabilities payable $19,000; Short-term notes payable $84,000; Long-term notes payable $169,000. What is Bosco's stockholders' equity 5. How much was Ratt's operating income from normal business operations ?
6. What is Bosco's stockholders' equity?
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