ndensed balance sheet and income statement data for Danke Corporation are presented here and following. Danke...
ndensed balance sheet and income statement data for Danke
Corporation are presented here and following.
| Danke Corporation Balance Sheets December 31 |
||||
|---|---|---|---|---|
|
Assets |
2022 | 2021 | ||
|
Cash |
$ 28,000 | $ 20,000 | ||
|
Receivables (net) |
70,000 | 62,000 | ||
|
Other current assets |
90,000 | 73,000 | ||
|
Long-term investments |
62,000 | 60,000 | ||
|
Plant and equipment (net) |
510,000 | 470,000 | ||
|
Total assets |
$ 760,000 | 685,000 | ||
|
Liabilities and Stockholders’ Equity |
||||
|
Current liabilities |
$ 75,000 | $ 70,000 | ||
|
Long-term liabilities |
80,000 | 90,000 | ||
|
Common stock |
330,000 | 300,000 | ||
|
Retained earnings |
275,000 | 225,000 | ||
|
Total liabilities and stockholders’ equity |
$ 760,000 | $ 685,000 | ||
| Danke Corporation Income Statements For the Years Ended December 31 |
||||
|---|---|---|---|---|
| 2022 | 2021 | |||
|
Sales revenue |
$750,000 | $680,000 | ||
|
Cost of goods sold |
440,000 | 400,000 | ||
|
Operating expenses (including income taxes) |
240,000 | 220,000 | ||
|
Net income |
$ 70,000 | $ 60,000 | ||
Additional information:
|
Net cash provided by operating activities |
$82,000 | $56,000 | ||
|---|---|---|---|---|
|
Cash used for capital expenditures |
$45,000 | $38,000 | ||
|
Dividends paid |
$20,000 | $15,000 | ||
|
Weighted-average common shares outstanding |
33,000 | 30,000 |
| (a) | Earnings per share. (2021: $2; 2022: $2.12) | |
| (b) | Working Capital. (2021: 85,000; 2022: 113,000) | |
| (c) | Current ratio. (2021: 2.2:1; 2022: 2.5:1) | |
| (d) | Debt to assets ratio. (2021: 23.4%; 2022: 20.4%) | |
| (e) | Free cash flow. (2021: $3,000; 2022: 17,000) |
(f)
Discuss briefly the improvement or lack thereof in financial
position and operating results from 2021 to 2022 of Danke
Corporation
Homework Answers
Danke Corporation
Comparison table:
| 2021 | 2022 | Change | ||
| 1 | Earnings per share | $ 2 | $ 2.12 | Increased |
| 2 | Working capital | $ 85,000 | $ 113,000 | Increased |
| 3 | Current ratio | 2.2 | 2.5 | Increased |
| 4 | Debt to assets ratio | 23.4% | 20.4% | Decreased |
| 5 | Free cash flows | $ 3000 | $ 17,000 | Increased |
Working capital and current ratio are Increased from 2021 to 2022, Danke Corporation Increases ability to meet it's Current liabilities by realising Current assets. Debt to assets ratio was decreased which indicates that portion of the debt is decreased from 2021 to 2022, the volume of liabilities (short term + long term) is decreased in relation to the assets which strengthen financial position. Danke Corporation will have surplus proceeds of assets even they meet liabilities in liquidation.
Earnings per share and Free cash flows are in increasing trend from 2021 to 2022, even though weighted average number of shares outstanding were in Increasing trend from 2021 to 2022, Earnings per share also in Increasing trend that clearly indicates that Danke Corporation operating result are better in 2022 than 2021.
Add Answer to:
ndensed balance sheet and income statement data for Danke
Corporation are presented here and following.
Danke...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 30,000 $ 20,000 $ 18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 55,000 70,000 45,000 Plant and equipment (net) 500,000 370,000 358,000 $725,000 $600,000 $533,000 Current liabilities $ 85,000 $ 80,000 $ 70,000 Long-term debt 145,000 85,000 50,000 Common stock, $10 par 320,000 310,000 300,000 Retained earnings 175,000 125,000 113,000...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance...
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Problem 13-03A (Essay) Condensed balance sheet and income statement data for Jergan Corporation are presented here,...
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Condensed balance sheet and income statement data for Pharoah Company are presented as follows. 21,000 Pharoah...
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Problem 13-03A Condensed balance sheet and income statement data for Marigold Corporation are presented here. MARIGOLD...
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Only need help on part e Condensed balance sheet and income statement data for Wildhorse Co....
Only need help on part e
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Problem 13-03A Condensed balance sheet and income statement data for Cheyenne Corporation are presented here. CHEYENNE...
Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne
Corporation are presented here.
CHEYENNE CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
97,000
102,000
71,000
Investments
62,000
77,000
52,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
$549,000
Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
152,000
92,000
57,000
Common stock, $10 par
327,000
317,000
307,000
Retained earnings
176,000...
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Only need help on part e
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Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne
Corporation are presented here.
CHEYENNE CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
97,000
102,000
71,000
Investments
62,000
77,000
52,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
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Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
152,000
92,000
57,000
Common stock, $10 par
327,000
317,000
307,000
Retained earnings
176,000...
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