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| Income Statement | 2019 | 2018 | |
| Sales | 700,000.00 | 600,000.00 | |
| Total Sales | 700,000.00 | 600,000.00 | |
| Cost of goods sold | 524,300.00 | 420,000.00 | |
| Gross Margin | 175,700.00 | 180,000.00 | |
| Operating expenses | |||
| Salaries and Wages Expense | 47,290.00 | 100,000.00 | |
| Rent Expense | 20,256.00 | 20,000.00 | |
| Depreciation Expense | 20,000.00 | 10,000.00 | |
| Total Operating expenses | 87,546.00 | 130,000.00 | |
| Income from Operations | 88,154.00 | 50,000.00 | |
| Loss on sale of equipment | (5,213.00) | - | |
| Interest Expense | (3,656.00) | (5,000.00) | |
| Increase/ (Decrease) in Operating Income | (8,869.00) | (5,000.00) | |
| Income before taxes | 79,285.00 | 45,000.00 | |
| Federal Income taxes | (23,785.00) | (13,500.00) | |
| Net Income | 55,500.00 | 31,500.00 | |
| Balance Sheet | |||
| Assets | 2019 | 2018 | |
| Current Assets | |||
| Cash | 65,000.00 | 80,000.00 | |
| Account Receivable Net | 150,000.00 | 100,000.00 | |
| Merchandise Inventory | 135,000.00 | 70,000.00 | |
| Supplies | 9,700.00 | 500.00 | |
| Prepaid Insurance | 30,000.00 | 10,000.00 | |
| Current Assets | 389,700.00 | 260,500.00 | |
| Property, plant, and equipment | |||
| Equipment | 500,000.00 | 240,000.00 | |
| Less: Accumulated Deprecation | (80,000.00) | (90,000.00) | |
| Total Property, plant, and equipment | 420,000.00 | 150,000.00 | |
| Total Assets | 809,700.00 | 410,500.00 | |
| Current Liabilities | |||
| Account Payable | 150,000.00 | 40,000.00 | |
| Unearned Revenue | 40,000.00 | 50,000.00 | |
| Salaries payable | 40,000.00 | 30,000.00 | |
| Federal Income taxes payable | 10,000.00 | 10,000.00 | |
| Current Liabilities | 240,000.00 | 130,000.00 | |
| Long Term Liabilities | |||
| Note Payable | 130,000.00 | - | |
| Total Long Term Liabilities | 130,000.00 | - | |
| Total Liabilities | 370,000.00 | 130,000.00 | |
| Stockholders' Equity | |||
| Common Stock, $ 10 Par | 170,000.00 | 100,000.00 | |
| Pain In Capital in Excess of Par | 43,700.00 | - | |
| Retained Earnings | 226,000.00 | 180,500.00 | |
| Total Stockholders' Equity | 439,700.00 | 280,500.00 | |
| Total Liabilities & Stockholders' Equity | 809,700.00 | 410,500.00 | |
| Quick Assets | 2019 | 2018 | |
| Current Assets | 389,700.00 | 260,500.00 | |
| Less: | |||
| Merchandise Inventory | 135,000.00 | 70,000.00 | |
| Prepaid Insurance | 30,000.00 | 10,000.00 | |
| Quick Assets | 224,700.00 | 180,500.00 | |
| Average Account Receivable | 2019 | 2018 | |
| Account Receivable Net | 150,000.00 | 100,000.00 | |
| Average Account Receivable | 125,000.00 | ||
| Average Merchandise Inventory | 2019 | 2018 | |
| Merchandise Inventory | 135,000.00 | 70,000.00 | |
| Average Merchandise Inventory | 102,500.00 | ||
| Average Assets | 2019 | 2018 | |
| Total Assets | 809,700.00 | 410,500.00 | |
| Average Assets | 610,100.00 | ||
| Average Total Stock Holders Equity | 2019 | 2018 | |
| Total Stockholders' Equity | 439,700.00 | 280,500.00 | |
| Average Total Stock Holders Equity | 360,100.00 | ||
| Number of Common Shares outstanding | |||
| Common Stock | 170,000.00 | 100,000.00 | |
| Par Value | 10.00 | 10.00 | |
| Number of Common Shares outstanding | 17,000.00 | 10,000.00 |
| Ans a | 2019 | 2018 |
| Working Capital | 149,700.00 | 130,500.00 |
| Current Assets less Current Liabilities | ||
| Ans b | ||
| Current Ratio | 1.62 | 2.00 |
| Current Assets/Current Liabilities | ||
| Ans c | ||
| Quick Ratio | 0.94 | 1.39 |
| Quick Assets/Current Liabilities | ||
| Ans d | ||
| Accounts Receivable Turnover | 5.60 | |
| Sales/Average Accounts Receivable | ||
| Ans e | ||
| Number of days sales in receivables | 65.18 | |
| 365/Accounts Receivable Turnover | ||
| Ans f | ||
| Inventory Turnover | 5.12 | |
| Cost of goods sold/ Average Inventory | ||
| Ans g | ||
| Number of days sales in Inventory | 71.36 | |
| 365/Inventory Turnover | ||
| Ans h | ||
| Liabilities to Stockholders' Equity Ratio | 0.84 | 0.46 |
| Total Liabilities /Total Stockholders' Equity | ||
| Ans i | ||
| Return on Total Assets | 9.10% | |
| Net Income / Average Total Assets | ||
| Ans j | ||
| Return on Equity | 15.41% | |
| Net Income/Average Total Stock Holders Equity | ||
| Ans k | ||
| Earnings Per share | 3.26 | 3.15 |
| Net Income/Number of Common Shares outstanding |
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5 LLLLLLLLS, Pipare di HCM Jamil و ن نه Using the textbook, calculate the ratios set...
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Prepare a statement of Cash Flow for the current year using
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Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Prepare a Statement of Cash Flow for the current year using the indirect method Robust Robots,...
Prepare a Statement of Cash Flow for the current year using
the indirect method
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Prepare a Cash Flow statement using indirect method Robust Robots, Inc. Comparative Balance Sheet December 31,...
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Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets 500,000 (80,000) 420,000 809,700...
Prepare a Satement of Cash Flow for the current year usinf the indirect method. Robust Robots,...
Prepare a Satement of Cash Flow for the current year usinf the
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Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Prepare a Cash Flow Statement. Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018...
Prepare a Cash Flow Statement.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $ 500,000 (80,000) 420,000 809,700 $ $...
Pepare a Cash Flow Statement using the indirect method. (all information is given). Robust Robots, Inc....
Pepare a Cash Flow Statement using the indirect method. (all
information is given).
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total...
Prepare a Statement of Cash Flows for the current year using the indirect method. Robust Robots,...
Prepare a Statement of Cash Flows for the current year using the
indirect method.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ $ $ $ Property Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment...
Using vertical analysis, prepare and Income Satement. (this is all the infomation) (indirect method) Robust Robots,...
Using vertical analysis, prepare and Income Satement. (this is
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Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Using horizontal analysis, prepare a Comparative Balance Sheet. (all the information is given in the pictures)...
Using horizontal analysis, prepare a Comparative Balance
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Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property,...
Using vertical analysis, prepare an income statement. (this is all the information given) (indirect method) thats...
Using vertical analysis, prepare an income statement. (this is
all the information given) (indirect method)
thats all info i have, it says indirect method on cash flow
only
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500...
Prepare a statement of Cash Flow for the current year using
the indirect method
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Prepare a Statement of Cash Flow for the current year using
the indirect method
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Prepare a Cash Flow statement using indirect method
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets 500,000 (80,000) 420,000 809,700...
Prepare a Satement of Cash Flow for the current year usinf the
indirect method.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Prepare a Cash Flow Statement.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $ 500,000 (80,000) 420,000 809,700 $ $...
Pepare a Cash Flow Statement using the indirect method. (all
information is given).
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total...
Prepare a Statement of Cash Flows for the current year using the
indirect method.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ $ $ $ Property Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment...
Using vertical analysis, prepare and Income Satement. (this is
all the infomation) (indirect method)
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
Using horizontal analysis, prepare a Comparative Balance
Sheet. (all the information is given in the pictures)
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property,...
Using vertical analysis, prepare an income statement. (this is
all the information given) (indirect method)
thats all info i have, it says indirect method on cash flow
only
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500...
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