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P10-7A You have been presented with the following selected information from the financial statements of one...
P10-7A You have been presented with the following selected information from the financial statements of one...
P10-7A You have been presented with the following selected information from the financial statements of one of Canada's largest dairy producers, Saputo Inc. (in millions): 2015 2014 2013 Statement of financial position Accounts receivable $ 785 S 807 $ 625 Inventory 1,006 933 770 Total current assets 1,962 1,896 1,513 Total assets 6,800 6,357 5,194 Current liabilities 1,179 1,725 1,227 Total liabilities 3,172 3,518 2,888 Income statement Net sales $10,658 $9,223 $7,298 Cost of goods sold 7,688 6,518 5,136 Interest...
Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines...
Suppose you have been presented with selected information taken
from the financial statements of Southwest Airlines
Co., shown below.
SOUTHWEST AIRLINES CO.
Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
10,450
12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
2022
2021
Net income (loss)
$ 175
$ 565
Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., sho SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,835 $4,850 Total current assets 12,510 10,850 Noncurrent assets $13,685 $17,360 Total assets $2,835 $4,780 Current liabilities 6,535 4,945 Long-term liabilities 9,370 9,725 Total liabilities 7,635 Shareholders' equity 4,315 $13,685 $17,360 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) 170 $630 Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,760 $4,100 Total current assets 10,100 12,360 Noncurrent assets $12,860 $16,460 Total assets $2,760 $4,995 Current liabilities 5,260 6,460 Long-term liabilities Total liabilities 9,220 10,255 6,205 3,640 Shareholders' equity $12,860 $16,460 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) $155 575 Income...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all cr...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all credit) 2.5 times Total assets turnover 40% Total debt to total assets 6.00 times Fixed asset turnover 2.6 times Current ratio Average collection period 30 days 12 times Inventory turnover Part A Using the above listed ratios and data, compute the balance of the following accounts. Assume all sa are on credit and a 360-day year. Round to the nearest dollar. [Hint: use ratio formulas to derive...
As loan analyst for Oriole Bank, you have been presented the following information. Toulouse Co. Lautrec...
As loan analyst for Oriole Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets SUS Cash $114,000 $330,000 Receivables 229,000 301.000 Inventories 597,000 531,000 Total current assets 940,000 1,162,000 Other assets 479,000 587,000 Total assets $1,419,000 $1,749,000 Liabilities and Stockholders' Equity. Current liabilities Long-term liabilities $314,000 402,000 703.000 $345,000 479,000 925,000 Capital stock and retained earnings Total liabilities and stockholders' equity $1,419,000 $1,749,000 Annual sales $936,000 $1,564,000 Rate of gross profit on sales 30% 40% Each...
As loan analyst for Metlock Bank, you have been presented the following information. Toulouse Co. Lautrec...
As loan analyst for Metlock Bank, you have been presented the
following information.
Toulouse Co.
Lautrec Co.
Assets
Cash
$119,000
$306,000
Receivables
217,000
289,000
Inventories
576,000
495,000
Total current assets
912,000
1,090,000
Other assets
489,000
616,000
Total assets
$1,401,000
$1,706,000
Liabilities and Stockholders’ Equity
Current liabilities
$311,000
$332,000
Long-term liabilities
406,000
489,000
Capital stock and retained earnings
684,000
885,000
Total liabilities and stockholders’ equity
$1,401,000
$1,706,000
Annual sales
$883,000
$1,529,000
Rate of gross profit on sales
30
%
40
%...
As loan analyst for Shamrock Bank, you have been presented the following information. Toulouse Co. Lautrec...
As loan analyst for Shamrock Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash $126,000 $317,000 Receivables 213,000 316,000 Inventories 585,000 511,000 Total current assets 924,000 1,144,000 Other assets 522,000 631,000 Total assets $1,446,000 $1,775,000 Liabilities and Stockholders’ Equity Current liabilities $292,000 $357,000 Long-term liabilities 418,000 522,000 Capital stock and retained earnings 736,000 896,000 Total liabilities and stockholders’ equity $1,446,000 $1,775,000 Annual sales $942,000 $1,549,000 Rate of gross profit on sales 30 % 40 %...
Exercise 24-04 As loan analyst for Bramble Bank, you have been presented the following information. Toulouse...
Exercise 24-04 As loan analyst for Bramble Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash Receivables Inventories Total current assets Other assets Total assets $116,000 226,000 564,000 906,000 505,000 $1,411,000 $332,000 315,000 541,000 1,188,000 595,000 $1,783,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Capital stock and retained earnings Total liabilities and stockholders' equity Annual sales Rate of gross profit on sales $291,000 386,000 734,000 $1,411,000 $918,000 30 % $361,000 505,000 917,000 $1,783,000 $1,556,000...
Exercise 24-4 As loan analyst for Utrillo Bank, you have been presented the following information. Toulouse...
Exercise 24-4 As loan analyst for Utrillo Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash $111,800 $311,100 Receivables 210,100 306,000 Inventories 575,300 513,100 Total current assets 897,200 1,130,200 Other assets 502,100 610,200 Total assets $1,399,300 $1,740,400 Liabilities and Stockholders’ Equity Current liabilities $303,300 $349,800 Long-term liabilities 394,800 502,100 Capital stock and retained earnings 701,200 888,500 Total liabilities and stockholders’ equity $1,399,300 $1,740,400 Annual sales $936,200 $1,502,900 Rate of gross profit on sales 25 %...
P10-7A You have been presented with the following selected information from the financial statements of one of Canada's largest dairy producers, Saputo Inc. (in millions): 2015 2014 2013 Statement of financial position Accounts receivable $ 785 S 807 $ 625 Inventory 1,006 933 770 Total current assets 1,962 1,896 1,513 Total assets 6,800 6,357 5,194 Current liabilities 1,179 1,725 1,227 Total liabilities 3,172 3,518 2,888 Income statement Net sales $10,658 $9,223 $7,298 Cost of goods sold 7,688 6,518 5,136 Interest...
Suppose you have been presented with selected information taken
from the financial statements of Southwest Airlines
Co., shown below.
SOUTHWEST AIRLINES CO.
Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
10,450
12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
2022
2021
Net income (loss)
$ 175
$ 565
Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., sho SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,835 $4,850 Total current assets 12,510 10,850 Noncurrent assets $13,685 $17,360 Total assets $2,835 $4,780 Current liabilities 6,535 4,945 Long-term liabilities 9,370 9,725 Total liabilities 7,635 Shareholders' equity 4,315 $13,685 $17,360 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) 170 $630 Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,760 $4,100 Total current assets 10,100 12,360 Noncurrent assets $12,860 $16,460 Total assets $2,760 $4,995 Current liabilities 5,260 6,460 Long-term liabilities Total liabilities 9,220 10,255 6,205 3,640 Shareholders' equity $12,860 $16,460 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) $155 575 Income...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all credit) 2.5 times Total assets turnover 40% Total debt to total assets 6.00 times Fixed asset turnover 2.6 times Current ratio Average collection period 30 days 12 times Inventory turnover Part A Using the above listed ratios and data, compute the balance of the following accounts. Assume all sa are on credit and a 360-day year. Round to the nearest dollar. [Hint: use ratio formulas to derive...
As loan analyst for Oriole Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets SUS Cash $114,000 $330,000 Receivables 229,000 301.000 Inventories 597,000 531,000 Total current assets 940,000 1,162,000 Other assets 479,000 587,000 Total assets $1,419,000 $1,749,000 Liabilities and Stockholders' Equity. Current liabilities Long-term liabilities $314,000 402,000 703.000 $345,000 479,000 925,000 Capital stock and retained earnings Total liabilities and stockholders' equity $1,419,000 $1,749,000 Annual sales $936,000 $1,564,000 Rate of gross profit on sales 30% 40% Each...
As loan analyst for Metlock Bank, you have been presented the
following information.
Toulouse Co.
Lautrec Co.
Assets
Cash
$119,000
$306,000
Receivables
217,000
289,000
Inventories
576,000
495,000
Total current assets
912,000
1,090,000
Other assets
489,000
616,000
Total assets
$1,401,000
$1,706,000
Liabilities and Stockholders’ Equity
Current liabilities
$311,000
$332,000
Long-term liabilities
406,000
489,000
Capital stock and retained earnings
684,000
885,000
Total liabilities and stockholders’ equity
$1,401,000
$1,706,000
Annual sales
$883,000
$1,529,000
Rate of gross profit on sales
30
%
40
%...
Exercise 24-04 As loan analyst for Bramble Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash Receivables Inventories Total current assets Other assets Total assets $116,000 226,000 564,000 906,000 505,000 $1,411,000 $332,000 315,000 541,000 1,188,000 595,000 $1,783,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Capital stock and retained earnings Total liabilities and stockholders' equity Annual sales Rate of gross profit on sales $291,000 386,000 734,000 $1,411,000 $918,000 30 % $361,000 505,000 917,000 $1,783,000 $1,556,000...
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