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The following information pertains to Metro Track Company.
METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 |
2017 |
2016 |
|||
Sales |
$57,534 |
$42,542 |
||
Cost of goods sold |
16,870 |
13,669 |
||
Gross profit |
40,664 |
28,873 |
||
Operating expenses |
24,093 |
19,241 |
||
Operating income |
16,571 |
9,632 |
||
Other expenses/revenues: |
||||
Interest revenue |
240 |
194 |
||
Interest expense |
(196 |
) |
(172 |
) |
Total other (expenses)/revenues |
(44 |
) |
(22 |
) |
Income before income taxes |
16,615 |
9,610 |
||
Income taxes (34%) |
5,649 |
3,267 |
||
Net income |
$10,966 |
$ 6,343 |
||
METRO TRACK COMPANY Comparative Balance Sheets December 31, 2017 and 2016 |
2017 |
2016 |
|||
Assets |
||||
Cash |
$ 908 |
$ 636 |
||
Marketable securities |
1,115 |
497 |
||
Accounts receivable |
2,466 |
2,564 |
||
Inventory |
3,829 |
3,970 |
||
Prepaid expenses |
319 |
283 |
||
Total current assets |
8,637 |
7,950 |
||
Investments and other assets |
1,976 |
1,480 |
||
Property Plant and equipment, net |
7,188 |
6,570 |
||
Trademarks and other intangibles |
671 |
690 |
||
Total Assets |
$18,472 |
$16,690 |
||
Liabilities and Stockholders' Equity |
||||
Notes payable |
$ 457 |
$ 1,638 |
||
Current maturities of long-term debt |
25 |
37 |
||
Accounts payable and accrued expenses |
4,647 |
4,736 |
||
Total current liabilities |
5,129 |
6,411 |
||
Long-term debt |
1,419 |
2,321 |
||
Total liabilities |
6,548 |
8,732 |
||
Common stock |
318 |
318 |
||
Additional paid-in capital |
583 |
583 |
||
Retained earnings |
11,023 |
7,057 |
||
Total stockholders' equity |
11,924 |
7,958 |
||
Total liabilities and equity |
$18,472 |
$16,690 |
Shares at 12/31/17 |
1,000 |
|||
Market value of shars at 12/31/17 |
$25 |
|||
Dividends per share declared and paid 2017 |
$7.00 |
The price-earnings ratio for 2017 is:
Select one:
A. 2.28 times
B. 13.13 times
C. 4.68 times
D. 11.93 times
Question 35 Not yet answered Marked out of 3.00 Flag question Question text The following information...
Question 34 Not yet answered Marked out of 3.00 Flag question Question text The following information pertains to Metro Track Company. METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income...
Question 32 Not yet answered Marked out of 3.00 Flag question Question text The following information pertains to Metro Track Company. METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income...
Question 31 Not yet answered Marked out of 3.00 Flag question Question text The following information pertains to Metro Track Company. METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income...
Question 33 Not yet answered Marked out of 3.00 Flag question Question text The following information pertains to Metro Track Company. METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income...
METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income taxes 16,615 9,610 Income taxes (34%) 5,649 3,267 Net income $10,966 $ 6,343 METRO TRACK COMPANY Comparative Balance Sheets December 31,...
METRO TRACk COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $57,534 $42,542 Cost of goods sold 16,870 13,669 Gross profit 40,664 28,873 Operating expenses 24,093 19,241 Operating income 16,571 9,632 Other expenses/revenues: Interest revenue 240 194 Interest expense (196 ) (172 ) Total other (expenses)/revenues (44 ) (22 ) Income before income taxes 16,615 9,610 Income taxes (34%) 5,649 3,267 Net income $10,966 $ 6,343 METRO TRACK COMPANY Comparative Balance Sheets December 31,...
Question 28 Not yet answered Marked out of 3.00 Flag question Question text Selected data from Kamal Company's financial statements is as follows: In $000's 2017 2016 Current liabilities $ 5,130 $ 5,202 Long-term debt 1,419 1,322 Stockholders' equity 12,632 11,166 Interest and principal payments 300 400 Net income 2,430 2,280 Interest expense 196 172 Income taxes 1,837 1,524 Dividends paid 750 750 Kamal Company's debt-to-equity ratio for 2017 is Select one: A. increasing slightly from 2016 to 2017. B....
Question 29 Not yet answered Marked out of 3.00 Flag question Question text Selected data from Kamal Company's financial statements is as follows: In $000's 2017 2016 Current liabilities $ 5,130 $ 5,202 Long-term debt 1,419 1,322 Stockholders' equity 12,632 11,166 Interest and principal payments 300 400 Net income 2,430 2,280 Interest expense 196 172 Income taxes 1,837 1,524 Dividends paid 750 750 Kamal Company's times interest earned ratio for 2017 Select one: A. increased, which indicates the company's creditors...
! Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 444,668 $ 340,652 $ 236,400 Cost of goods sold 267,690 214,951 151, 296 Gross profit 176, 978 125, 701 85,104 Selling expenses 63,143 47,010 31, 205 Administrative expenses 40,020 29,977 19,621 Total expenses 103,163 76,987 50, 826 Income before taxes 73,815...
Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2016 $553,39 $423,94 $ 294,20 2017 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 333,141 266,236 188,288 220,249 157,706 105,912 78,581 58,504 38,834 49,805 37,307 24,419 128,386 95,811 63,25.3 91,863 61,895 42,659 17,087 12,689...