26 Jul WHAT WERE MAINLINE HOMECARE NET INCOME TOTAL PROFIT MARGIN AND CASH FLOW?
Mainline Homecare a for-profit busi Show more Please take TAX RATE into consideration. the last person didnt. Mainline Homecare a for-profit business had revenues of $12 million in 2008. Expenses other than depreciation totaled 75 percent of revenues and depreciation expense was $1.5 million. All revenues were collected in cash during the year and all expenses other than depreciation were paid in cash. Mainline must pay taxes at a rate of 40 percent of pretax income. Assuming that the same revenues and expenses reported for financial accounting purposes would be reported for tax purposes. A. Construct Mainline Homecare 2008 income statement. B. What were Mainline Homecare net income total profit margin and cash flow? C. Now suppose the company changed it depreciation calculation procedures (still within GAAP) such that its depreciation expense doubled. How would this change affect Mainline Homecare s net income total profit margin and cash flow? D. Suppose the change had halved rather than doubled the firms depreciation expense. Now what would be the impact on net income total profit margin and cash flow? Please show steps. Please take TAX RATE into consideration. the last person didnt. Show less
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