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quired: Prepare Santana Industries 2021 statement of cash flows, using the indirect method to present cash...
Financial statements for Askew Industries for 2021 are shown below in thousands): • 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $9.000 (6,300) 2,700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown below in thousands): - 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net Income $9,000 (6,300) 2.700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Presented below are the 2021 Income statement and comparative balance sheets for Santana Industries. $17,650 SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 14,250 Service revenue 3,400 Total revenue Operating expenses: Cost of goods sold 7,200 Selling expense 2,400 General and administrative expense 1,500 Total operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income 11,100 6,550 150 6,400 1,600 $ 4,800 Dec. 31, 2021 Dec....
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net sales $ 8,700 Cost of goods sold (6,075) Gross profit 2,625 Operating expenses (1,875) Interest expense (110) Income tax expense (256) Net income 384 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 510 510 710 1,100 $2,830 $ 410 310 510 1,200 $2,430 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,200 Cost of goods sold (6,350) Gross profit 2,850 Operating expenses (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 620 620 820 2,200 $4,260 $ 520 420 620 2,300 $3,860 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. $20,050 SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 15,450 Service revenue 4,600 Total revenue Operating expenses: Cost of goods sold 7,800 Selling expense 3,000 General and administrative expense 2,100 Total operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income 12,900 7,150 210 6,940 2,200 $ 4,740 Dec. 31, Dec. 31,...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Hoover Industries, Inc. (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) A (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hoover Industries, Inc., for the year ended December 31, 2017, using the indirect method. Prepare the statement one section at...
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Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 8,800 Cost of goods sold (6,250) Gross profit 2,550 Operating expenses (2,050) Interest expense (180) Income tax expense (128) Net income $ 192 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 580 580 780 1,800 $3,740 $ 480 380 580 1,900 $3,340 Liabilities and Shareholders'...