Compute the Missing Amounts Affecting the Net Income for Year

question 53

Short Answer

Compute the missing amounts affecting the net income for Year 1 in each of the five independent cases that follow.Amounts shown are in thousands.
$\begin{array}{llllll}&\text { CASE A }& \text { CASE B }& \text { CASE C }& \text { CASE D }& \text { CASE E}\\\text { Sales revenue } & \$ 650 & \text { B } & \$ 400 & \$ 800 & \$ 390 \\\text { Cost of goods sold } & 300 & \$ 110 & \text { C } & 400 & 200 \\\text { Selling and } & 150 & 150 & 120 & 65 & \text { E } \\\text { administrative expenses } & & & & &\\\text { Income tax expense } & 56 & 30 & 55 & \text { D } & 0 \\\text { Net income } & \text { A } & 10 & 75 & 235 & (15)\\\end{array}$

Understand the impact of social purpose on consumer purchasing decisions and brand loyalty.

Appreciate the role of evaluation in demonstrating the effectiveness of strategic plans and securing future support.

Recognize the risks involved in corporate social responsibility (CSR) efforts that are incongruent with business practices.

Learn the importance of research in benchmarking and measuring the effectiveness of PR campaigns.

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Definitions:

Injured

This term typically refers to physical harm or damage suffered by a person or entity, not usually a key term in a financial or business context, so NO.

State Unemployment

A program providing financial assistance to unemployed workers from their state government.

Federal Unemployment Taxes

Taxes paid by employers to the federal government to fund unemployment benefits for workers who lose their jobs.

Payroll Tax Expense

Taxes that employers are required to pay on behalf of their employees, such as social security and Medicare taxes.