Homework Answers
| Income Statement: | |
| Sales | |
| Less: Cost of Goods Sold | |
| Grsoss Profit | |
| Less: Overhead | |
| Labour Expenses | |
| Depreciation | |
| EBIT | |
| Interest Expenses | |
| Taxable Income | |
| Taxes | |
| After Tax Income | |
| Balance Sheet | |
| Assets | Liabilities |
| Gross Fixed Assets | Current Liabilities |
| Less: Accumulated Depreciation | Account Payable |
| Net Fixed Assets | Short Term Debt |
| Current Assets | Long Term Debt |
| Cash | |
| Account Receivable | Shareholder's Equity |
| Inventory | Common Stock |
| Retained Earning | |
| Total Assets | Total Liabilities and net Worth |
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1. Arrange the following items into an income statement and balance sheet in the normal order....
Microsoft Excel would be best format Arrange the following items into an income statement and balance...
Microsoft Excel would be best format
Arrange the following items into an income statement and balance sheet in the normal order. Gross Profit Accounts payable $31.000 Interest $4,500 Accounts $36.000 Inventory Receivable $42,000 Labor Expense $12,000 Accumulated $45,000 Long Term Debt $50,000 Depreciation Net Fixed Assets After Tax Income Overhead $8,000 Cash $24.000 Retained Earnings $27,000 Common Stock $36.000 Sales $100,000 Cost of Goods Sold $62,000 Short Term Debt Current Assets $25,000 Taxable income Current Liabilities Taxes 35% Depreciation $6,000...
Problem # 1 (50 points) Given the Income Statement and Balance Sheet Compute: Current Ratio Acid-Test...
Problem # 1 (50 points) Given the Income Statement and Balance Sheet Compute: Current Ratio Acid-Test Ratio Days in Receivable Days in Inventory Operating Profit Margin Total Asset Tumover Fixed-asset turnover Debt Ratio Times Interest Earned Return on Equity Income Statement Balance Sheet Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Gross Plant and Equipment Accumulated Depreciation Net Fixed Assets Total Assets $200,000 $60,000 $100,000 $20,000 $380,000 $802,000 -$132,000 $670,000 $1,050,000 Sales (all credit) Cost of Goods Sold...
The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows: DATA (All...
The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows: DATA (All amounts in SAR unless otherwise indicated, all sales are on credit and no hard keys.) Balance Sheet: ABC Corporation Balance Sheet 2019 Cash 310 Accounts receivable 685 Inventories 600 Other current assets 105 Total current assets 1,700 Gross fixed assets 3,750 Accumulated depreciation -1,500 Net fixed assets 2,250 Total assets 3,950 LIABILITIES (DEBT) AND EQUITY Accounts payable 350 Short-term notes payable 250 Total current...
QUESTION 1 Given the following income statement and balance sheet data, select which items would be...
QUESTION 1 Given the following income statement and balance sheet data, select which items would be included in presenting the cash flow from operating activities section of the statement of cash flows using the indirect method: 2019 $50,000 33,400 16,600 13,600 920 Income Statement ($ millions) Sales Less: Cost of goods sold Gross profits Less: Cash operating expenses Less: Depreciation expense Less: Amortization of intangible assets Operating profits (EBIT) Less: Interest expense Equity in earnings (loss) of affiliate Gain (loss)...
Problems Use the income statement and balance sheet shown below to develop the statement of cash...
Problems Use the income statement and balance sheet shown below to develop the statement of cash flows. Revenues $5,700.00 COGS $4,560.00 Gross Profit $1,140.00 Operating Expenses $500.00 Depreciation $27.00 EBIT $613.00 Interest Expense $35.00 EBT $578.00 Taxes $231.20 NI $346.80 Dividends $0.00 ARE $346.80 Balance sheet Year T+1 Year T Cash and Equivalents $714.80 $120.00 Accounts receivable $500.00 $500.00 Inventory $300.00 $340.00 Total Current Assets $1514.80 $960.00 Fixed Assets $660.00 $800.00 Accumulated Depreciation $227.00 $200.00 Net Fixed Assets $433.00 $600.00...
The balance sheet and income statement for the A. Thiel Mfg. Company are as follows. Calculate...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows. Calculate the ratios at the
bottom.
Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owners' equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating...
Use the following data to answer questions below. INCOME STATEMENT: TONY'S PIZZA EATERY 2016 2016 REVENUES $&nb...
Use the following data to answer questions below. INCOME STATEMENT: TONY'S PIZZA EATERY 2016 2016 REVENUES $ 275,789 COST OF GOODS SOLD $ 103,115 GROSS PROFIT $ 172,674 DEPRECIATION $ 31,100 SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES $ 77,444 OPERATING INCOME (EBIT) $ 64,130 INTEREST EXPENSE $ 6,000 TAXABLE INCOME (EBT) $ 58,130 TAXES (SEE TAX TABLE) $ 8,720 NET INCOME $ 49,411 BALANCE SHEET: TONY'S PIZZA EATERY END OF 2016 2016 CURRENT ASSETS CASH $ 8,247 ACCOUNTS RECEIVABLE $ 1,236...
Analyzing, Forecasting, and Interpreting Income Statement and Balance Sheet Following are the income statement and balance...
Analyzing, Forecasting, and Interpreting Income Statement and Balance Sheet Following are the income statement and balance sheet of Whole Foods Market, Inc. Income Statement, For Years Ended (in $ 000s) 2010 2009 Sales $ 9,005,794 $ 8,031,620 Cost of goods sold and occupancy costs 5,870,393 5,277,310 Gross profit 3,135,401 2,754,310 Direct store expenses 2,375,716 2,145,809 General administrative expenses 272,449 243,749 Pre-opening expenses 38,044 49,218 Relocation, store closures and lease termination costs 11,217 31,185 Operating income 437,975 284,349 Interest expense (33,048)...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) Accumulated depreciation $ 391,000 Retained earnings 35,000 Cash 19,000 Bonds payable 174,000 Accounts receivable 49,000 Plant and equipment—original cost 741,000 Accounts payable 37,000 Allowance for bad debts 6,000 Common stock, $1 par, 100,000 shares outstanding 100,000 Inventory 68,000 Preferred stock, $54 par, 1,000 shares outstanding 54,000 Marketable securities 21,000 Investments 27,000 Notes payable 36,000 Capital paid in...
1.) Use the Income Statement and Balance Sheet below to calculate the companies free cash flow....
1.) Use the Income Statement and Balance Sheet below to calculate the companies free cash flow. Income Statement 2017 Net Sales 675 Cost of goods sold 210 Depreciation 50 EBIT 415 Interest Paid 15 EBT 400 Taxes (30%) 120 Net Income 280 Dividends 105 Addition to Retained Earnings 175 Assets 2016 2017 Liabilities and Shareholders equity 2016 2017 Current Assets Current Liabilities Cash 100 125 Accounts Payable 200 250 Accounts Receivable 250 350 Notes Payable 150 225 Inventory 400 375...
Microsoft Excel would be best format
Arrange the following items into an income statement and balance sheet in the normal order. Gross Profit Accounts payable $31.000 Interest $4,500 Accounts $36.000 Inventory Receivable $42,000 Labor Expense $12,000 Accumulated $45,000 Long Term Debt $50,000 Depreciation Net Fixed Assets After Tax Income Overhead $8,000 Cash $24.000 Retained Earnings $27,000 Common Stock $36.000 Sales $100,000 Cost of Goods Sold $62,000 Short Term Debt Current Assets $25,000 Taxable income Current Liabilities Taxes 35% Depreciation $6,000...
Problem # 1 (50 points) Given the Income Statement and Balance Sheet Compute: Current Ratio Acid-Test Ratio Days in Receivable Days in Inventory Operating Profit Margin Total Asset Tumover Fixed-asset turnover Debt Ratio Times Interest Earned Return on Equity Income Statement Balance Sheet Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Gross Plant and Equipment Accumulated Depreciation Net Fixed Assets Total Assets $200,000 $60,000 $100,000 $20,000 $380,000 $802,000 -$132,000 $670,000 $1,050,000 Sales (all credit) Cost of Goods Sold...
QUESTION 1 Given the following income statement and balance sheet data, select which items would be included in presenting the cash flow from operating activities section of the statement of cash flows using the indirect method: 2019 $50,000 33,400 16,600 13,600 920 Income Statement ($ millions) Sales Less: Cost of goods sold Gross profits Less: Cash operating expenses Less: Depreciation expense Less: Amortization of intangible assets Operating profits (EBIT) Less: Interest expense Equity in earnings (loss) of affiliate Gain (loss)...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows. Calculate the ratios at the
bottom.
Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owners' equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating...
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