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![Old BS Transactions Current BS $37,000,000 $9,500,000| $46,500,000|[$37,000,000+$9,500,000] Long-term debt Preferred stock Common stock ($1 par value) Capital surplus Accumulated retained earnings $75,300,000 $12,200,000$87,500,000 I$75,300,000$12,200,000] Total Assets $2,100,000 $O$2,100,000 $2,100,000$0] 900,000 $4,000,000 $12,900,000 $41,000,000 $100,000,000 $141,000,000 $41,000,000 $100,000,000] $8,900,000+ $4,000,000] $164,300, 000 $125,700,000| $290,000,000 NOTE Transactions in Accumulated retained earnings Net Income minus Dividends $15,300,000-$3,100,000 $12,200,000 Total Assets on all calses Sum of liabilities and Stockholders equity that consists of Preferred stock, Common stock, Capital surplus and Accumulated retained earnings.](http://img.homeworklib.com/questions/b0c102c0-70cc-11ea-b650-9f9f7d5f997f.png?x-oss-process=image/resize,w_560)
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Building a Balance Sheet The following table presents the long-term liabilities and stockholders' equity of Information...
The program continues to tell me my answers are wrong but I am not sure why....
The program continues to tell me my answers are wrong but I am
not sure why. See the question and my answers below:
liabilities and stockholders' equity of The following table presents the long-term Information Control Corp. one year ago: $ 65,600,000 Long-term debt Preferred stock Common stock ($1 par value) Accumulated retained earnings el 4,060,000 15,600,000 135,600,000 Capital surplus 45,600,000 During the past year, Information Control issued 10.6 million shares of new stock at a total price of $59.2...
Introduction to Financial Management Homework 2 Problem 02-A (5 points) The following table presents the long-term...
Introduction to Financial Management Homework 2 Problem 02-A (5 points) The following table presents the long-term liabilities and stockholders' equity of Information Control Corp. one year ago: During the past year, the company issued 5 million shares of new stock at a total price of $63 million, and issued $30 million in new long-term debt. The company generated $8 million in net income and paid $1.8 million in dividends. Construct the current balance sheet reflecting the changes that occurred at...
The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed long-term debt of $3.3 million, and...
The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed long-term debt of $3.3 million, and the 2018 balance sheet showed long-term debt of $3.6 million. The 2018 income statement showed an interest expense of $110,000. What was the firm’s cash flow to creditors during 2018? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed $580,000 in the...
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $2.5 million, and...
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $2.5 million, and the 2019 balance sheet showed long-term debt of $2.75 million. The 2019 income statement showed an interest expense of $100,000. The 2018 balance sheet showed $450,000 in the common stock account and $2.1 million in the additional paid-in surplus account. The 2019 balance sheet showed $490,000 and $2.4 million in the same two accounts, respectively. The company paid out $550,000 in cash dividends during...
Shown below is the liabilities and stockholders' equity section of the balance sheet for Martinez Company...
Shown below is the liabilities and stockholders' equity section of the balance sheet for Martinez Company and Sandhill Company. Each has assets totaling $4,022,000 Martinez Co. Current liabilities Long-term debt, 10% Common stock ($20 par) Retained earnings (Cash dividends, $232,000) $324,000 1,090,000 1,860,000 748,000 $4,022,000 SandhillCo. Current liabilities Common stock ($20 par) Retained earnings (Cash dividends, $334,000) $194,000 3,080,000 748,000 $4,022,000 For the year, each company has earned the same income before interest and taxes. Income before interest and taxes...
At the beginning of the year, Shinedown, Corp., had a long-term debt balance of $47,380. During...
At the beginning of the year, Shinedown, Corp., had a long-term debt balance of $47,380. During the year, the company repaid a long-term loan in the amount of $13,505. The company paid $5,270 in interest during the year, and opened a new long-term loan for $11,870. How much is the ending long-term debt account on the company's balance sheet?
Shown below is the liabilities and stockholders' equity section of the balance sheet for Mar mpany...
Shown below is the liabilities and stockholders' equity section of the balance sheet for Mar mpany and Swity Company. Each has assets totaling $4,022,000. $194,000 Marigold Co. Current liabilities Long-term debt, 10% Common stock ($20 par) Retained earnings (Cash dividends, $232,000) $324,000 1,090,000 1,860,000 748,000 $4,022,000 Current liabilities Common stock (520 par) Retained earnings (Cash 3,080,000 334,000) interest For the year, each company has earned the same income before Swifty Co. $1,180,000 Income before interest and taxes Interest expense Marigold...
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and...
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and the 2015 balance sheet showed long-term debt of $6.35 million. The 2015 income statement showed an interest expense of $210,000. The 2014 balance sheet showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account. The 2015 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively. The company paid out $605,000 in cash dividends during...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Stockholders' Equity Total Additional Paid-in Capital Total Paid-in Capital and Retained Earnings Ayayai Corp. has issued 90,000 shares of $4 par...
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $3.1 million, and...
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $3.1 million, and the 2018 balance sheet showed long-term debt of $3.2 million. The 2018 income statement showed an interest expense of $150,000. During 2018, the company had a cash flow to creditors of $50,000 and the cash flow to stockholders for the year was $90,000. Suppose you also know that the firm's net capital spending for 2018 was $1,340,000, and that the firm reduced its net...
The program continues to tell me my answers are wrong but I am
not sure why. See the question and my answers below:
liabilities and stockholders' equity of The following table presents the long-term Information Control Corp. one year ago: $ 65,600,000 Long-term debt Preferred stock Common stock ($1 par value) Accumulated retained earnings el 4,060,000 15,600,000 135,600,000 Capital surplus 45,600,000 During the past year, Information Control issued 10.6 million shares of new stock at a total price of $59.2...
Introduction to Financial Management Homework 2 Problem 02-A (5 points) The following table presents the long-term liabilities and stockholders' equity of Information Control Corp. one year ago: During the past year, the company issued 5 million shares of new stock at a total price of $63 million, and issued $30 million in new long-term debt. The company generated $8 million in net income and paid $1.8 million in dividends. Construct the current balance sheet reflecting the changes that occurred at...
Shown below is the liabilities and stockholders' equity section of the balance sheet for Martinez Company and Sandhill Company. Each has assets totaling $4,022,000 Martinez Co. Current liabilities Long-term debt, 10% Common stock ($20 par) Retained earnings (Cash dividends, $232,000) $324,000 1,090,000 1,860,000 748,000 $4,022,000 SandhillCo. Current liabilities Common stock ($20 par) Retained earnings (Cash dividends, $334,000) $194,000 3,080,000 748,000 $4,022,000 For the year, each company has earned the same income before interest and taxes. Income before interest and taxes...
Shown below is the liabilities and stockholders' equity section of the balance sheet for Mar mpany and Swity Company. Each has assets totaling $4,022,000. $194,000 Marigold Co. Current liabilities Long-term debt, 10% Common stock ($20 par) Retained earnings (Cash dividends, $232,000) $324,000 1,090,000 1,860,000 748,000 $4,022,000 Current liabilities Common stock (520 par) Retained earnings (Cash 3,080,000 334,000) interest For the year, each company has earned the same income before Swifty Co. $1,180,000 Income before interest and taxes Interest expense Marigold...
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and the 2015 balance sheet showed long-term debt of $6.35 million. The 2015 income statement showed an interest expense of $210,000. The 2014 balance sheet showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account. The 2015 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively. The company paid out $605,000 in cash dividends during...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Stockholders' Equity Total Additional Paid-in Capital Total Paid-in Capital and Retained Earnings Ayayai Corp. has issued 90,000 shares of $4 par...
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $3.1 million, and the 2018 balance sheet showed long-term debt of $3.2 million. The 2018 income statement showed an interest expense of $150,000. During 2018, the company had a cash flow to creditors of $50,000 and the cash flow to stockholders for the year was $90,000. Suppose you also know that the firm's net capital spending for 2018 was $1,340,000, and that the firm reduced its net...
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