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Author Question: Companies generate income from their regular operations and from other sources such as interest ... (Read 55 times)

april 19

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Companies generate income from their “regular” operations and from other sources such as interest earned on the securities they hold, which is called nonoperating income. Lindley Textiles recently reported $17,500 of sales, $8,450 of operating costs other than depreciation, and $2,000 of depreciation. The company had no amortization charges and no nonoperating income. It had $9,000 of bonds outstanding that carry a 6.5% interest rate, and its combined federal and provincial income tax rate was 38%. How much was Lindley’s operating income, or EBIT?

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$6,531


◦

$7,050


◦

$8,062


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$8,946

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Marked as best answer by april 19 on Aug 7, 2023

BryanAultm

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Reply #1 on: Aug 7, 2023
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april 19

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Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review

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Gracias!

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