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Lydex Company | ||||||
Income Statement | This Year | Last Year | Answer 1 a | This Year | Last Year | |
Sales | 15,940,000.00 | 14,380,000.00 | Working Capital | 3,920,000.00 | 3,070,000.00 | |
Cost of goods sold | 12,752,000.00 | 10,785,000.00 | Current Assets- Current Liabilities | |||
Gross Profit | 3,188,000.00 | 3,595,000.00 | ||||
Selling and administrative Expense | 1,216,000.00 | 1,636,000.00 | Answer 1 b | |||
Net Operating Income | 1,972,000.00 | 1,959,000.00 | Current Ratio | 1.96 | 1.98 | |
Interest Expense | 372,000.00 | 312,000.00 | Current Assets/Current Liabilities | |||
Net Income before taxes | 1,600,000.00 | 1,647,000.00 | ||||
Income tax expense | 480,000.00 | 494,100.00 | Answer 1 c | |||
Net Income | 1,120,000.00 | 1,152,900.00 | Acid Test Ratio | 0.99 | 1.18 | |
Common Dividends | 320,000.00 | 576,450.00 | Quick Assets/Current Liabilities | |||
Net Income retained | 800,000.00 | 576,450.00 | ||||
Beginning retained Earnings | 1,580,000.00 | 1,003,550.00 | Answer 1 d | |||
Ending retained Earnings | 2,380,000.00 | 1,580,000.00 | Average Collection Period | 58.85 | 49.12 | |
365/ Accounts Receivables Turnover | ||||||
Balance Sheet | ||||||
Assets | This Year | Last Year | Accounts Receivables Turnover | 6.20 | 7.43 | |
Current Assets | Sales Revenue/ Average Receivable | |||||
Cash | 1,040,000.00 | 1,280,000.00 | ||||
Marketable Securities | - | 300,000.00 | Answer 1 e | |||
Accounts Receivable (net) | 3,020,000.00 | 2,120,000.00 | Average Sale Period | 85.58 | 74.62 | |
Inventory | 3,680,000.00 | 2,300,000.00 | 365/Inventory Turnover | |||
Prepaid Expenses | 270,000.00 | 210,000.00 | ||||
Total Current Assets | 8,010,000.00 | 6,210,000.00 | Inventory Turnover | 4.26 | 4.89 | |
Plant & equipment, net | 9,680,000.00 | 9,130,000.00 | Cost of goods sold/Average Inventory | |||
Total Assets | 17,690,000.00 | 15,340,000.00 | ||||
Answer 1 f | ||||||
Liabilities & Stockholders' Equity | Operating cycle | |||||
Liabilities | Average collection period | 58.85 | 49.12 | |||
Current Liabilities | 4,090,000.00 | 3,140,000.00 | Add: Average Sale Period | 85.58 | 74.62 | |
Note payable, 10% | 3,720,000.00 | 3,120,000.00 | Operating cycle | 144.43 | 123.74 | |
Total Liabilities | 7,810,000.00 | 6,260,000.00 | ||||
Stockholders' Equity | Ans 1 g | |||||
Common Stock $ 75 par | 7,500,000.00 | 7,500,000.00 | Total asset Turnover | 0.97 | 0.96 | |
Retained Earnings | 2,380,000.00 | 1,580,000.00 | Sales Revenue/ Average Total Assets | |||
Total Stockholders' Equity | 9,880,000.00 | 9,080,000.00 | ||||
Total Liabilities & Stockholders' Equity | 17,690,000.00 | 15,340,000.00 | ||||
Total Current Assets | 8,010,000.00 | 6,210,000.00 | ||||
Less: | ||||||
Inventory | 3,680,000.00 | 2,300,000.00 | ||||
Prepaid Expense | 270,000.00 | 210,000.00 | ||||
Quick Assets | 4,060,000.00 | 3,700,000.00 | ||||
Workings | This Year | Last Year | Workings | Last Year | Beginning of Last Year | |
Accounts Receivable (net) | 3,020,000.00 | 2,120,000.00 | Accounts Receivable (net) | 2,120,000.00 | 1,750,000.00 | |
Average Receivable (net) | 2,570,000.00 | Average Receivable (net) | 1,935,000.00 | |||
Merchandise Inventory | 3,680,000.00 | 2,300,000.00 | Merchandise Inventory | 2,300,000.00 | 2,110,000.00 | |
Average Inventory | 2,990,000.00 | Average Inventory | 2,205,000.00 | |||
Total assets | 17,690,000.00 | 15,340,000.00 | Total assets | 15,340,000.00 | 14,690,000.00 | |
Average assets | 16,515,000.00 | Average assets | 15,015,000.00 |
Required information [The following information applies to the questions displayed below.] You have just been hired...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 1,040,000 0 3,020,000 3,680,000 270,000 8,010,000 9,680,000...
Required information (The following information applies to the questions displayed below.) You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Last Lydex Company Comparative Balance Sheet This Year Assets Current assets: Cash $ 1,040,000 Marketable securities Accounts...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 1,040,000 0 3,020,000 3,680,000 270,000 8,010,000 9,680,000...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 1,040,000 0 3,020,000 3,680,000 270,000 8,010,000 9,680,000...
Required information [The following information applies to the questions displayed below.) You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 1,040,000 0 3,020,000 3,680,000 270,000 8,010,000 9,680,000...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Last Year Lydex Company Comparative Balance Sheet This Year Assets Current assets: Cash $ 900,000 Marketable securities...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 880,000 $ 1,120,000...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 980,000 0 2,780,000 3,620,000 260,000 7,640,000 9,560,000...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year $ 940,000 2,620,000 3,580,000 250,000 7,390,000 9,480,000 $...
Required information [The following information applies to the questions displayed below.] You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 970,000 $ 1,210,000...