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Titan Football Manufacturing had the following 340; dividends paid $560. At the beginning of the year,...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,880; cost of goods...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,880; cost of goods sold-S1 3,880; depreciation expense = $2,270 interest expense = $295; dividends paid-$650. At the beginning of the year, net fixed assets were $18,800, current assets were $3,040, and current liabilities were $1,970. At the end of the year, net fixed assets were $22,340, current assets were $3,480, and current liabilities were $2,060. The tax rate for 2016 was 40 percent. a. What is net...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,930; cost of goods...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,930; cost of goods sold = $13,830; depreciation expense = $2,220; interest expense = $270; dividends paid = $700. At the beginning of the year, net fixed assets were $21,300, current assets were $3,090, and current liabilities were $1,920. At the end of the year, net fixed assets were $25,340, current assets were $3,580, and current liabilities were $2,010. The tax rate for 2016 was 30 percent. a....
Titan Football Manufacturing had the following operating results for 2016: sales = $19,870; cost of goods...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,870; cost of goods sold = $13,890; depreciation expense = $2,280; interest expense = $300; dividends paid = $640. At the beginning of the year, net fixed assets were $18,300, current assets were $3,030, and current liabilities were $1,980. At the end of the year, net fixed assets were $21,740, current assets were $3,460, and current liabilities were $2,070. The tax rate for 2016 was 40 percent. a....
Titan Football Manufacturing had the following operating results for 2016: sales = $19,940; cost of goods...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,940; cost of goods sold = $13,820; depreciation expense = $2,210; interest expense = $265; dividends paid = $710. At the beginning of the year, net fixed assets were $21,800, current assets were $3,100, and current liabilities were $1,910. At the end of the year, net fixed assets were $25,940, current assets were $3,600, and current liabilities were $2,000. The tax rate for 2016 was 40 percent. a....
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,774; cost of goods...
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,774; cost of goods sold = $21,956, depreciation expense = $3,596, interest expense = $604, dividends paid = $897. At the beginning of the year, net fixed assets were $20,394, current assets were $1,973, and current liabilities were $5,108. At the end of the year, net fixed assets were $23,257, current assets were $4,579, and current liabilities were $3,269. The tax rate for 2019 was 23 percent. a....
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,724; cost of goods...
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,724; cost of goods sold = $21,938; depreciation expense = $3,589; interest expense = $599; dividends paid = $893. At the beginning of the year, net fixed assets were $20,365, current assets were $2,061, and current liabilities were $4,997. At the end of the year, net fixed assets were $23,242, current assets were $4,568, and current liabilities were $3,253. The tax rate for 2019 was 22 percent. a. ...
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,074; cost of goods...
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,074; cost of goods sold = $21,704; depreciation expense = $3,498; interest expense = $534; dividends paid = $841. At the beginning of the year, net fixed assets were $19,988, current assets were $3,205, and current liabilities were $3,554. At the end of the year, net fixed assets were $23,047, current assets were $4,425, and current liabilities were $3,045. The tax rate for 2019 was 24 percent. a....
Consider the following abbreviated financial statements for Cabo Wabo, Inc. CABO WABO, INC. Partial Balance Sheets...
Consider the following abbreviated financial statements for Cabo Wabo, Inc. CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016 2015 2015 2016 Assets Current assets Net fxed aasets Liabilities and owners' Equity $ 2,697$ 2,848 Current liabilites 12,411 2,969 Long-term debt S 1,135 S 1,679 6,687 7,846 CABO WABO, INC 2016 Income Slatement Sales Costs $39,950 20,026 3,395 Interest paid a. What is owners'equity for 2015 and 2016? (Do not round intermediate calculations and round your...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income Statement Sales $ 567,200 Costs of goods sold 274,005 Selling and administrative 124,729 Depreciation 54,572 EBIT $ 113,894 Interest 19,384 EBT $ 94,510 Taxes 37,804 Net income $ 56,706 Dividends $ 10,000 Addition to retained earnings $ 46,706 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2015 Cash $ 13,360 Accounts payable $ 9,500 Accounts receivable 18,990 Notes payable 14,504 Inventory 13,798 Current...
Graffiti Advertising, Inc., reported the following financial statements for the last two years 2016 Income Statement...
Graffiti Advertising, Inc., reported the following financial statements for the last two years 2016 Income Statement Sales Costs of goods sold Selling and administrative Depreciation EBIT Interest EBT Taxes Net income Dividends Addition to retained earnings $565,700 274,020 124,732 54,575 $112,373 19,318 $ 93,055 37,222 $ 55,833 $ 9,700 $ 46,133 GRAFFITI ADVERTISING, INC Balance Sheet as of December 31, 2015 Cash Accounts receivable Inventory Current assets $ 13,330 Accounts payable $ 9,503 14,507 $ 24,010 18,993 $ 46,118 S344,456...
Titan Football Manufacturing had the following operating results for 2016: sales = $19,880; cost of goods sold-S1 3,880; depreciation expense = $2,270 interest expense = $295; dividends paid-$650. At the beginning of the year, net fixed assets were $18,800, current assets were $3,040, and current liabilities were $1,970. At the end of the year, net fixed assets were $22,340, current assets were $3,480, and current liabilities were $2,060. The tax rate for 2016 was 40 percent. a. What is net...
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,774; cost of goods sold = $21,956, depreciation expense = $3,596, interest expense = $604, dividends paid = $897. At the beginning of the year, net fixed assets were $20,394, current assets were $1,973, and current liabilities were $5,108. At the end of the year, net fixed assets were $23,257, current assets were $4,579, and current liabilities were $3,269. The tax rate for 2019 was 23 percent. a....
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,074; cost of goods sold = $21,704; depreciation expense = $3,498; interest expense = $534; dividends paid = $841. At the beginning of the year, net fixed assets were $19,988, current assets were $3,205, and current liabilities were $3,554. At the end of the year, net fixed assets were $23,047, current assets were $4,425, and current liabilities were $3,045. The tax rate for 2019 was 24 percent. a....
Consider the following abbreviated financial statements for Cabo Wabo, Inc. CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016 2015 2015 2016 Assets Current assets Net fxed aasets Liabilities and owners' Equity $ 2,697$ 2,848 Current liabilites 12,411 2,969 Long-term debt S 1,135 S 1,679 6,687 7,846 CABO WABO, INC 2016 Income Slatement Sales Costs $39,950 20,026 3,395 Interest paid a. What is owners'equity for 2015 and 2016? (Do not round intermediate calculations and round your...
Graffiti Advertising, Inc., reported the following financial statements for the last two years 2016 Income Statement Sales Costs of goods sold Selling and administrative Depreciation EBIT Interest EBT Taxes Net income Dividends Addition to retained earnings $565,700 274,020 124,732 54,575 $112,373 19,318 $ 93,055 37,222 $ 55,833 $ 9,700 $ 46,133 GRAFFITI ADVERTISING, INC Balance Sheet as of December 31, 2015 Cash Accounts receivable Inventory Current assets $ 13,330 Accounts payable $ 9,503 14,507 $ 24,010 18,993 $ 46,118 S344,456...
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