The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required:
Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Tennis.
(Increase (Decrease)
2018 2017 Amount %
Net sales $3,525,000 2,640,000
Cost of goods sold 2,160,000 1,385,000
Gross profit 1,365,000 1,255,000
Operating expenses 815,000 634,000
Operating income 550,000 621,000
Other income (expense) 10,200 6,100
Income before tax 560,200 627,100
Income tax expense 100,500 141,000
Net income $459,700 $486,100

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

The penalties for a first-time dui charge include revocation of drivers license a. 180 days b. ben 180 des and one year c. bence 90 and 180 d. one year