Question
Problem 3.21 Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2013, the company had revenues of $882,700,
Problem 3.21
Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2013, the company had revenues of $882,700, general and administrative expenses of $361,900, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's tax rate is 34 percent, what is its net income after taxes? (Round intermediate calculations and final answer to the nearest whole dollar, e.g. 5,275.)
Nimitz Rental Company Income Statement as of March 31, 2013 | |
Amount | |
General and Administrative ExpensesLeasing ExpensesDepreciationRent RevenueUtilities ExpenseNet SalesInterest ExpenseTaxes | $ |
Rent RevenueNet SalesLeasing ExpensesGeneral and Administrative ExpensesUtilities ExpenseDepreciationInterest ExpenseTaxes | |
Net SalesGeneral and Administrative ExpensesInterest ExpenseRent RevenueDepreciationTaxesLeasing ExpensesUtilities Expense |
|
Total RevenuesNet Income / (Loss)Earnings Before Interest and TaxesEarnings Before TaxesTotal ExpensesEarnings Before Interest, Taxes, Depreciation, and Amortization | $ |
Interest ExpenseUtilities ExpenseLeasing ExpensesTaxesNet SalesGeneral and Administrative ExpensesDepreciationRent Revenue |
|
Total ExpensesEarnings Before Interest and TaxesNet Income / (Loss)Total RevenuesEarnings Before Interest, Taxes, Depreciation, and AmortizationEarnings Before Taxes | $ |
DepreciationNet SalesRent RevenueInterest ExpenseTaxesUtilities ExpenseGeneral and Administrative ExpensesLeasing Expenses |
|
Total ExpensesNet Income / (Loss)Earnings Before TaxesTotal RevenuesEarnings Before Interest, Taxes, Depreciation, and AmortizationEarnings Before Interest and Taxes | $ |
Rent RevenueNet SalesGeneral and Administrative ExpensesDepreciationInterest ExpenseLeasing ExpensesTaxesUtilities Expense |
|
Total ExpensesEarnings Before Interest and TaxesNet Income / (Loss)Total RevenuesEarnings Before Interest, Taxes, Depreciation, and AmortizationEarnings Before Taxes | $ |
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