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Gb550 unit 2 assignment




Question;1. The Wendt Corporation had $10.5 million of;taxable income.;a. What is the company?s federal income tax bill;for the year?;b. Assume the firm receives an additional $1;million of interest income from some bonds it owns. What is the tax on this;interest income?;c. Now assume that Wendt does not receive the;interest income but does receive an additional $1 million as dividends on some;stock it owns. What is the tax on this dividend income?;2. Gardial & Son has an ROA of 12%, a 5% profit;margin, and a return on equity equal to 20%. What is the company?s total assets;turnover? What is the firm?s equity multiplier?;Complete the balance sheet and sales information in;the table that follows for J. White Industries using the following financial;data;Total assets turnover: 1.5;Gross profit margin on sales: (Sales ? Cost of;goods sold)/Sales = 25%;Total liabilities-to-assets ratio: 40%;Quick ratio: 0.80 Days sales outstanding (based on;365-day year): 36.5 days;Inventory turnover ratio: 3.75;Partial Income Statement Information;Sales;Cost of goods sold;Balance Sheet;Cash _______ Accounts payable;Accounts receivable _______ Long-term debt 50,000;Inventories _______ Common stock;Fixed assets _______ Retained earnings 100,000;Total assets $400,000 Total liabilities and equity


Paper#50169 | Written in 18-Jul-2015

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