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(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,570,000 in revenues, $3,381,000 in cost
(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,570,000 in revenues, $3,381,000 in cost of goods sold, $446,000 in operating expenses which included depreciation expense of $143,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $54,000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = Less: Cost of Goods Sold = Equals: Gross Profit = Less: Operating Expenses = Equals: Net Operating Income = Less: Interest Expense = 0 Equals: Earnings before Taxes = $ $ S $ S (Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,570,000 in revenues, $3,381,000 in cost of goods sold, $446,000 in operating expenses which included depreciation expense of $143,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $54,000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders? Equals: Gross Profit= Less: Operating Expenses = $ Equals: Net Operating Income = $ Less: Interest Expense = $ 0 Equals: Earnings before Taxes = Less: Income Taxes = $ Equals: Net Income = The amount that the company will be able to pay as a cash dividend is S LA 69 S (Round to the nearest dollar.)
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