Homework Answers
Answer:
a.Times Interest earned = Operating Profit / Interest expense = 28870 / 3810 = 7.58
b.A/R collection period = 365 / (Sales / Accounts Receivable ) = 365 / ( 163700 / 25590 ) = 365 / 6.40 = 57.03 Days
c.Inventory flow period = 365 / ( Cost of goods sold / Inventory ) = 365 / (96610 / 36930 ) = 365 / 2.62 = 139.31 Days
d.Current Ratio = Current Assets / Current Liabilities = 95030 / 58060 = 1.64
e.Acid Test Ratio = Quick Assets / Current Liabilities = (16400 + 25590 ) / 58060 = 0.72
f.ROA = Net Income / Total Assets = 15290 / 143610 = 10.65%
g.ROS = Net Income / Sales = 15290 / 163700 = 9.34%
h.ROE = Net Income / Total Equity = 15290 / ( 12000 + 53550 ) = 15290 / 65550 = 23.33%
i.Long Term Debt to Total Capitalisation = 20000 / ( 20000 + 12000 + 53550 ) = 20000 / 85550 = 23.38%
j.Total Asset Turnover = Sales / Total Assets = 163700 / 143610 = 1.14
k.Effective Income Tax Rate = 9770 / 25060 = 38.98%
Add Answer to:
15. The condensed, audited financial statements for the June 30, 2003, fiscal year for McNeil Corporation...
Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31...
Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 600,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value...
Recent financial statements for Madison Company follow: Madison Company Balance Sheet June 30 Assets Current assets:...
Recent financial statements for Madison Company follow: Madison Company Balance Sheet June 30 Assets Current assets: Cash $ 21,000 Accounts receivable, net 160,000 Merchandise inventory 300,000 Prepaid expenses 9,000 Total current assets 490,000 Plant and equipment, net 810,000 Total assets $ 1,300,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 200,000 Bonds payable, 10% 300,000 Total liabilities 500,000 Stockholders’ equity: Common stock, $5 par value $ 100,000 Retained earnings 700,000 Total stockholders’ equity 800,000 Total liabilities and stockholders' equity $...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount in millions of dollars)...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount in millions of dollars) 2005 2004 2003 Revenues Cost of sales $25.000 20,000 $22,000 18,000 $21,000 17.000 $4,000 $4,000 Gross profit Selling general, and administrative apenses $5,000 500 500 800 $3.500 $3.200 Operating income Interest and other nonoperating expense $4.500 200 250 250 $2.950 Earnings before income taxes Income tax $4.300 1.410 $3.250 975 885 Net income $2.890 $2.275 $2.065 Tab, Inc., Balance Sheets as of End of...
Oriole Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales...
Oriole 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 $2,110,000 1,460,000 317,000 27,000 $306,000 113,000 193,000 118,000 $75,000 26,250 $48,750 Oriole Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount (in millions of dollars)...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount (in millions of dollars) 2005 2004 2003 Revenues $25,000 20,000 $22,000 18,000 $21,000 17,000 Cost of sales $4,000 Gross profit Selling, general, and administrative expenses $5,000 500 $4,000 800 500 Operating income Interest and other nonoperating expense $4,500 200 $3,500 250 $3,200 250 $2,950 Earnings before income taxes Income tax $4,300 1.410 $3,250 975 885 Net income $2,890 $2,275 $2,065 Tab, Inc., Balance Sheets as of End of...
Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31...
Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 700,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 106,300 68,000 65,800 4,600 244,700 126,000 (28,000) $342,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets Cash $ 102,100 $ 53,000 Accounts receivable, net 78,500 60,000 Inventory 72,800 100,000 Prepaid expenses 5,300 7,200 Total current assets 258,700 220,200 Equipment 133,000 124,000 Accum. depreciation—Equipment (31,500 ) (13,500 ) Total assets $ 360,200 $ 330,700 Liabilities and Equity Accounts payable $ 34,000 $ 43,500 Wages payable 6,900 16,800 Income taxes payable 4,300 5,600 Total current liabilities...
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...
The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30, 2e17 and 2816 2e17 2016 Assets Cash Accounts receivable, net Inventory Propaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets s 66,e0e 73,000 119,see 9,800 268,308 137,000 (20,000) $385,308 $ 94,300 98,808 85,800 6,600 284,708 146,808 (38,000) $392,788 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long tere) $ 47,808 8,200 5,608 60,800 52,000 112,800 $63,000...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount in millions of dollars) 2005 2004 2003 Revenues Cost of sales $25.000 20,000 $22,000 18,000 $21,000 17.000 $4,000 $4,000 Gross profit Selling general, and administrative apenses $5,000 500 500 800 $3.500 $3.200 Operating income Interest and other nonoperating expense $4.500 200 250 250 $2.950 Earnings before income taxes Income tax $4.300 1.410 $3.250 975 885 Net income $2.890 $2.275 $2.065 Tab, Inc., Balance Sheets as of End of...
Oriole Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ 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 $2,110,000 1,460,000 317,000 27,000 $306,000 113,000 193,000 118,000 $75,000 26,250 $48,750 Oriole Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable...
Tab, Inc., Income Statements for Fiscal Years 2003, 2004, and 2005 Amount (in millions of dollars) 2005 2004 2003 Revenues $25,000 20,000 $22,000 18,000 $21,000 17,000 Cost of sales $4,000 Gross profit Selling, general, and administrative expenses $5,000 500 $4,000 800 500 Operating income Interest and other nonoperating expense $4,500 200 $3,500 250 $3,200 250 $2,950 Earnings before income taxes Income tax $4,300 1.410 $3,250 975 885 Net income $2,890 $2,275 $2,065 Tab, Inc., Balance Sheets as of End of...
Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 700,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 106,300 68,000 65,800 4,600 244,700 126,000 (28,000) $342,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
The balance sheet and income statement for Cullumber Supply Company for the fiscal year ended June 30, 2017 is as follows Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ 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...
The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30, 2e17 and 2816 2e17 2016 Assets Cash Accounts receivable, net Inventory Propaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets s 66,e0e 73,000 119,see 9,800 268,308 137,000 (20,000) $385,308 $ 94,300 98,808 85,800 6,600 284,708 146,808 (38,000) $392,788 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long tere) $ 47,808 8,200 5,608 60,800 52,000 112,800 $63,000...
Most questions answered within 3 hours.
-
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 1 hour ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 2 hours ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 2 hours ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 3 hours ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 4 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 5 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 6 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 7 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 7 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 7 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 7 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 8 hours ago