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Question
Your company has pretax income of $52,000 on sales of $506,000. Sales are expected to increase by 6 percent next year and the tax rate is 40 percent. What is the expected net income for next year if your firm uses the percentage of sales approach when compiling pro forma statements?A. $28,938
B. $31,835
C. $33,072
D. $35,582
E. $44,520
Answer
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Related questions
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Q:
Which one of the following statements regarding an original issue $25,000 GNMA bond is correct?
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Q:
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Q:
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Q:
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B. 9.14%
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An analyst gathered the following year-end price level data for an economy. What is the economy's annual inflation rate for 2012?A. 3.22%B. 3.42%C. 3.68%D. 3.87%E. 3.92%
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Assume the inflation rate in 2012 is 2.1 percent. If the nominal GDP grew 3.2 percent and nominal wages grew 2.6 percent, what are the approximate real growth rates of GDP and wages?
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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E. elect to continue holding their bonds; they want to continue receiving the interest payments
Q:
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