Calculate income from operations and net income
Not what you're looking for?
Can you help me get started on this assignment?
Calculate income from operations and net income. Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2010 follows:
Net cash provided by operations $98,000
Cost of goods sold $310,000
Selling, general and administrative expenses $124,000
Accounts Payable $ 90,000
Extraordinary loss from hurricane, net of tax savings of $36,000
Research and development expenses $30,000
Net Loss from discontinued operations, net tax savings of $24,000
Provision for income tax $78,000
Net Sales $840,000
Interest expense $64,000
Questions to answer (I need to show the work):
A) Calculate income from operations (operating income) for the year ended December 31, 2010.
B) Calculate net income for the year ended December 31st 2010.
Purchase this Solution
Purchase this Solution
Free BrainMass Quizzes
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.