Homework Answers
| Income Statement for Company XYZ inc | Proforma Column | |||
| Total Revenue | $ 425,000.00 | 100% | $ 474,725.00 | |
| Cost of Goods Sold | $ 250,000.00 | 59% | $ 279,250.00 | |
| Gross Profit | $ 175,000.00 | 41% | $ 195,475.00 | |
| Operating Expense | ||||
| Salaries | $ 82,000.00 | 17% | $ 82,000.00 | |
| Rent | $ 30,000.00 | 6% | $ 30,000.00 | |
| Utilities | $ 6,550.00 | 1% | $ 6,550.00 | |
| Depreciation | $ 25,500.00 | 5% | $ 25,500.00 | |
| Total Operating Expense | $ 144,050.00 | 30% | $ 144,050.00 | |
| Operating Profit | $ 30,950.00 | 11% | $ 51,425.00 | |
| Interest Expense | $ 24,000.00 | 5% | $ 24,000.00 | |
| Earnings Before Taxes | $ 6,950.00 | 6% | $ 27,425.00 | |
| Tax | $ 1,647.15 | 1% | $ 6,499.73 | |
| Net Income | $ 5,302.85 | 4% | $ 20,925.28 |
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Company XYZ has shown you their Income Statement and asked you to build a ProForma Income...
Question 1 Company XYZ has shown you their Balance Sheet and asked you to build a...
Question 1 Company XYZ has shown you their Balance Sheet and asked you to build a ProForma Balance Sheet. You will find key variables needed for this estimation just below the Balance Sheet. Your answers should be given to two decimal places Balance Sheet for Company XYZ, Inc. Common Size ProForma Current Assets: Cash Accounts Receivable $155,000.00 $805,000.00 $500,000.00 $1,460,000.00 $6,250,000.00 $7,710,000.00 2.01% 10.44% 6.49% 18.94% 81.06% 100.00% Inventoy Total Current Assets Total Fixed Assets Total Assets Current Liabilities: Notes...
XYZ Inc. Income Statement 2018 2017 Sales &nb
XYZ Inc. Income Statement 2018 2017 Sales 950000 800,000 COGS 650000 600000 Gross Profit 300000 200000 Operating costs (excluding depreciation) 50000 60,000 EDITDA 250,000 140000 Depreciation 20000 18,000 EBIT 230000 122,000 Interest Expense 100000 100,000 EBT 130000 22,000 Taxes 25000 5,000 Net Income 105,000 17,000 Common Dividends 6000 4000 Addition to Retained Earnings 99000 13,000 2018 2017 Year-end stock price $50 $40 # of shares 5500 3500 Find the Ratios for 2018: EPS: P/E:
Question 1 Cumulative Problem: XYZ Company has sales of $4,800,000, COGS is 40% of sales, operating...
Question 1 Cumulative Problem: XYZ Company has sales of $4,800,000, COGS is 40% of sales, operating expenses are $2,100,000, interest expense $20,000 and depreciation 30,000. Tax rate 40%. Construct their income statement and answer the below: Gross profit is ___. a. 2,400,000 b. 1,920,000 c. 730,000 d. 2,880,000 Question 2 What best describes operating profit margin? a. earnings before interest and tax in relation to sales b. the impact of depreciation on taxes paid c. cost of goods sold in...
XYZ Corporation published the following information in its financial statements for its 2018 annual report: Income...
XYZ Corporation published the following information in its financial statements for its 2018 annual report: Income Statement Items: Sales $76,000 - Cost of goods sold 49,000 Gross profit 27,000 - Cash Operating expenses $9,000 Depreciation 2,000 Total Operating Expenses 11,000 EBIT 16,000 - Interest expense 840 EBT 15,160 - Income tax expense 5,306 Net Income $9,854 Balance Sheet Items: Cash $9,000 Marketable securities 2,000 Accounts receivable 11,000 Inventories 7,000 Fixed Assets, net 24,000 Total Assets $53,000 Accounts payable $8,000 Accrued...
The following balance sheet (BS) and income statement (IS) are available for Little Bit Inc. Prepare...
The following balance sheet (BS) and income statement (IS) are
available for Little Bit Inc. Prepare a statement of cash flows
(CF) for 2018:
Balance Sheet Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment Less accumulated depreciation Plant and Equipment (net) Long-Term Investments Total Assets Accounts Payable Accrued Liabilities Total Current Liabilities Long-Term Debt Deferred Taxes Total Liabilities Common Stock ($1 par) and additional paid-in Retained earnings Total Liabilities and Equity December 31, 2018 2017...
The income statement, also known as the profit and loss statement, helps calculate the firm's net...
The income statement, also known as the profit and loss statement, helps calculate the firm's net income that is available to shareholders. The incorne statement is usually prepared using the International Financial Reporting Standards (IFRS), which match revenues and expenses to the period in which they were incurred, not necessarily when cash was received or paid The following is the income statement of Water and Power Co. in its first year of operation: Water and Power Co. Income Statement For...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement
The income statement, also known as the profit and loss
(P&L) statement, provides a snapshot of the financial
performance of a company during a specified period of time. It
reports a firm’s gross income, expenses, net income, and the income
that is available for distribution to its preferred and common
shareholders.
The income statement is prepared using the generally accepted
accounting principles (GAAP) that match the firm’s revenues and
expenses to the period in which they were...
The balance sheet and income statement for Cullumber Supply Company for the fiscal year ended June...
The balance sheet and income statement for Cullumber Supply Company for the fiscal year ended June 30, 2017 is as follows Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales Cost of goods sold Selling and administrative expenses Nonrecurring expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Depreciation Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (35%) Net income $2,133,900 1,459,400 313,000 27,600 $333,900 112,150 221,750 117,650...
Please add the computation and explanation. Thank you! A. Convert to a Common Size Statement then...
Please add the computation and explanation. Thank you!
A. Convert to a Common Size Statement then prepare an executive summary using the Common Size Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Php 200,000.00 120,000.00 80,000.00 10,000.00 Salaries and Wages Employee's Benefits Sales Commissions Rental Expenses Advertising Professional Fees Travel and Transportation Representation Training/Seminars Light, Water, and Power Office Supplies Depreciation Miscellaneous Total Operating Expenses Operating Profit Add: Non-Operating Income Less: Non-Operating Expenses Net Profit Before Taxes Taxes...
Consider the following Income Statement for Zion Distribution. All values are in millions of dollars. Income...
Consider the following Income Statement for Zion Distribution. All values are in millions of dollars. Income Statement for Zion Distribution: 2018 2019 $M $M Net Sales 230 240 Cost of sales -160 -184 Gross Profit 70 56 Expenses: Selling, general, and administrative expenses -22 -20 Research and development -8 -7 Depreciation and amortization -4 -3 Other income 4 6 Earnings before interest and taxes (EBIT) 40 32 Interest income (expense) -6 -4 Pre-tax income (EBT) 34 28 Taxes -4...
Question 1 Company XYZ has shown you their Balance Sheet and asked you to build a ProForma Balance Sheet. You will find key variables needed for this estimation just below the Balance Sheet. Your answers should be given to two decimal places Balance Sheet for Company XYZ, Inc. Common Size ProForma Current Assets: Cash Accounts Receivable $155,000.00 $805,000.00 $500,000.00 $1,460,000.00 $6,250,000.00 $7,710,000.00 2.01% 10.44% 6.49% 18.94% 81.06% 100.00% Inventoy Total Current Assets Total Fixed Assets Total Assets Current Liabilities: Notes...
XYZ Corporation published the following information in its financial statements for its 2018 annual report: Income Statement Items: Sales $76,000 - Cost of goods sold 49,000 Gross profit 27,000 - Cash Operating expenses $9,000 Depreciation 2,000 Total Operating Expenses 11,000 EBIT 16,000 - Interest expense 840 EBT 15,160 - Income tax expense 5,306 Net Income $9,854 Balance Sheet Items: Cash $9,000 Marketable securities 2,000 Accounts receivable 11,000 Inventories 7,000 Fixed Assets, net 24,000 Total Assets $53,000 Accounts payable $8,000 Accrued...
The following balance sheet (BS) and income statement (IS) are
available for Little Bit Inc. Prepare a statement of cash flows
(CF) for 2018:
Balance Sheet Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment Less accumulated depreciation Plant and Equipment (net) Long-Term Investments Total Assets Accounts Payable Accrued Liabilities Total Current Liabilities Long-Term Debt Deferred Taxes Total Liabilities Common Stock ($1 par) and additional paid-in Retained earnings Total Liabilities and Equity December 31, 2018 2017...
The income statement, also known as the profit and loss statement, helps calculate the firm's net income that is available to shareholders. The incorne statement is usually prepared using the International Financial Reporting Standards (IFRS), which match revenues and expenses to the period in which they were incurred, not necessarily when cash was received or paid The following is the income statement of Water and Power Co. in its first year of operation: Water and Power Co. Income Statement For...
3. Income statement
The income statement, also known as the profit and loss
(P&L) statement, provides a snapshot of the financial
performance of a company during a specified period of time. It
reports a firm’s gross income, expenses, net income, and the income
that is available for distribution to its preferred and common
shareholders.
The income statement is prepared using the generally accepted
accounting principles (GAAP) that match the firm’s revenues and
expenses to the period in which they were...
The balance sheet and income statement for Cullumber Supply Company for the fiscal year ended June 30, 2017 is as follows Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales Cost of goods sold Selling and administrative expenses Nonrecurring expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Depreciation Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (35%) Net income $2,133,900 1,459,400 313,000 27,600 $333,900 112,150 221,750 117,650...
Please add the computation and explanation. Thank you!
A. Convert to a Common Size Statement then prepare an executive summary using the Common Size Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Php 200,000.00 120,000.00 80,000.00 10,000.00 Salaries and Wages Employee's Benefits Sales Commissions Rental Expenses Advertising Professional Fees Travel and Transportation Representation Training/Seminars Light, Water, and Power Office Supplies Depreciation Miscellaneous Total Operating Expenses Operating Profit Add: Non-Operating Income Less: Non-Operating Expenses Net Profit Before Taxes Taxes...
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