FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information relates to Blake Auto Supply. Net Sales Revenue $ 195 000 Cost of Goods Sold 150 000 Interest Revenue 10 000 Operating

The following information relates to Blake Auto Supply.

Net Sales Revenue $ 195 000

Cost of Goods Sold 150 000

Interest Revenue 10 000

Operating Expenses 40 000

Calculate the net income of Blake Auto Supply.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting International Financial Reporting Standards Global Edition

Financial Accounting International Financial Reporting Standards Global Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

11th Edition

9781292211145

More Books

Students also viewed these Accounting questions

Question

★★★★★
An artist buys scrap metal from a local steel mill as a raw material for her metal sculptures. Last year, she bought $5,000 worth of the scrap metal. During the year, she produced 10 metal sculptures...

Answered: 1 week ago

Question

★★★★★
Wright Corporations taxable income for calendar years 2017, 2018, and 2019 was $120,000, $150,000, and $100,000, respectively. Its total tax liability for 2019 was $21,000. Wright estimates that its...

Answered: 1 week ago

Question

★★★★★
=+Perform a process capability analysis on the fudge shop and comment on your findings

Answered: 1 week ago

Question

★★★★★
Nachman Industries just paid a dividend of D0 = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The...

Answered: 1 week ago

Question

★★★★★
Based on the Contributory Income Statement below answer the following question: What is the Contributory Income from Rooms department expressed as a percentage * for your answer round to the whole...

Answered: 1 week ago

Question

★★★★★
Which conflict handling style is preferred when the issues are much less important to you than to the other party? Question 24Answer a. Forcing b. Problem solving c. Avoiding d. Compromising e. Yieldi

Answered: 1 week ago

Question

★★★★★
What techniques are available or would you suggest for mitigating the loss of customer interaction that results from outsourcing customer-facing functions, such as companies selling products on...

Answered: 1 week ago

Question

★★★★★
1. Compare Costco's current year net income and earnings per share with prior year(s). Were there significant changes that took place? If so, what were they and what was their cause? 2. Analyze...

Answered: 1 week ago

Question

★★★★★
Given the current structure of chosen org., decide whether a redesign would help your organization compete more effectively, or reach its mission and values more successfully OR no change is...

Answered: 1 week ago

Question

★★★★★
1 . Examine which database solution your organization is currently employing. Once this has been determined, interview ( where available ) the decision - maker for employing this application as a...

Answered: 1 week ago

Question

★★★★★
Tom, age 48, is advised by his family physician that he needs back surgery to correct a problem from his last back surgery. Since Tom is in a wheel chair, he needs his wife, Jean, to accompany him on...

Answered: 1 week ago

Question

★★★★★
2 Whether you answered yes or no, what are the reasons for your answer? Microsoft India Corporation Ltd was set up in 1990 with headquarters in the city of Hyderabad and expanded to 13 other cities...

Answered: 1 week ago

Question

★★★★★
1 S elect one of the formulations of HRM covered in this chapter and compare it with Emirates practice. To what extent do you think Emirates is undertaking SHRM? Emirates NBD is one of the biggest...

Answered: 1 week ago

Question

★★★★★
2 How does the recession have an impact on the role and function of HRM? Ireland currently faces significant economic, fiscal and banking problems. A major research programme funded by several Irish...

Answered: 1 week ago

Previous Question Next Question