Sales Revenue 177089 Other Revenue - Total Revenue 177089 Direct Costs 144944 Gr
ID: 2391162 • Letter: S
Question
Sales Revenue
177089
Other Revenue
-
Total Revenue
177089
Direct Costs
144944
Gross Profit
32145
Selling General & Admin
24652
Depreciation & Amortization
-
Restruct Remediation & Impair
-
Other Operating Expense
483
Total Indirect Operating Costs
25135
Operating Income
7010
Interest Income
-6394
Gains on Sale of Assets
1095
Other Non-Operating Income
0
Total Non-Operating Income
-5299
Earnings Before Tax
1711
Taxation
-512
Earnings After Tax
2223
Minority Interests
280
Equity Earnings
285
Discontinued Operations
47
Extraordinary Items
0
Accounting Changes
-251
Net Income
2024
Preference Dividends & Similar
0
Net Income to Common
2024
Average Shares Basic
1846
EPS Net Basic
1.1
EPS Continuing Basic
1.21
Average Shares Diluted
2135
EPS Net Diluted
1.05
EPS Continuing Diluted
1.14
Shares Outstanding
1864.138
I KNOW THE ANSWER TO THE QUESTION I JUST WANT TO KNOW HOW IT’S SOLVED
QUESTION:
Find effective tax rate ANS: -30%
Sales Revenue
177089
Other Revenue
-
Total Revenue
177089
Direct Costs
144944
Gross Profit
32145
Selling General & Admin
24652
Depreciation & Amortization
-
Restruct Remediation & Impair
-
Other Operating Expense
483
Total Indirect Operating Costs
25135
Operating Income
7010
Interest Income
-6394
Gains on Sale of Assets
1095
Other Non-Operating Income
0
Total Non-Operating Income
-5299
Earnings Before Tax
1711
Taxation
-512
Earnings After Tax
2223
Minority Interests
280
Equity Earnings
285
Discontinued Operations
47
Extraordinary Items
0
Accounting Changes
-251
Net Income
2024
Preference Dividends & Similar
0
Net Income to Common
2024
Average Shares Basic
1846
EPS Net Basic
1.1
EPS Continuing Basic
1.21
Average Shares Diluted
2135
EPS Net Diluted
1.05
EPS Continuing Diluted
1.14
Shares Outstanding
1864.138
Explanation / Answer
Effective Tax rate = (Tax Expenses / Earnings Before Tax) * 100
As per the data given in the question Taxation given is -512 which means this is savings of tax.
Earnings Before Tax - Tax expense = Earnings After Tax
1711 - (-512) = Earnings After Tax
1711 + 512 = Earnings After Tax
Earnings After Tax = 2223
Therefore effective tax rate = (Tax Expenses / Earnings Before Tax) * 100
Tax Expense = -512
Earnings Before Tax = 1711
Effective tax rate = (-512 / 1711) * 100
Effective tax rate = -29.92% or -30% (rounded off)
Therefore Effective tax rate = -30%
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