The Following Are Some Accounts for Marvell Corp All Amounts Are Before Income Taxes

question 65

Essay

The following are some accounts for Marvell Corp. for 2017:
$\begin{array}{lr}\text { Sales revenue } & \$ 102,000 \\\text { Cost of goods sold } & 85,000 \\\text { Administrative expense } & 34,000 \\\text { Interest expense } & 3,000 \\\text { Loss from disposal of segment } & 21,000 \\\text { Gain from sale of land } & 4,000 \\\text { Stock dividends declared } & 9,000 \\\text { Loss due to permanent value decline of plant asset } & 6,000 \\\text { Unrealized gain from trading securities } & 5,000 \\\text { Interest revenue } & 1,000\end{array}$
All amounts are before income taxes. Marvell has a 30% tax rate. Determine the amount of Marvell' 'other revenue' and 'other expenses' for 2017. List all non-income statement items and indicate on which financial statement they are reported.

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Definitions:

Balanced Scorecard

A system for strategic planning and management that aligns organizational activities with its vision and strategy, enhances communication both internally and externally, and tracks the organization's performance in relation to its strategic objectives.

Departments

Divisions within an organization, each focusing on a specific area of function such as marketing, finance, or human resources.

Profit Sharing

A compensation strategy where employees receive a share of the company's profits in addition to their regular salary.

Gainsharing Program

A compensation strategy that shares the financial benefits of performance improvements with employees through collective incentives.