Homework Answers
Assumption: Current Assets INCLUDES Inventory.
Common-Size statement Value of Inventory = Inventory/Total Assets = 350/(600+400) = 35%
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Question 8 11.11 pts Cavu Air, Inc. has sales of $1700, Net income of $250 net...
Question 4 11.11 pts Wing Air, Inc. has equipment with a book value of $500 that...
Question 4 11.11 pts Wing Air, Inc. has equipment with a book value of $500 that could be sold today at a 50% discount. Its inventory is valued at $450 and could be sold to a competitor for that amount. The firm has $100 in cash and customers owe it $250. What is the accounting value of its liquid assets? $300.00 $1,050.00 $575.00 O $800.00
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...
1.)Company ABC has sales of $1,650,000, cost of goods sold of $600,000, EBIT of $450,000, interest...
1.)Company ABC has sales of $1,650,000, cost of goods sold of $600,000, EBIT of $450,000, interest expense of $70,000, and a tax rate of 27%. If the company paid $57,000 in dividends what is the addition to retained earnings. 2.)At the beginning of the year, a firm had current assets of $121,306 and current liabilities of $124,509. At the end of the year, the current assets were $122,418 and the current liabilities were $103,718. What is the change in net...
1. Company ABC has sales of $1,850,000, cost of goods sold of $1,000,000, EBIT of $350,000,...
1. Company ABC has sales of $1,850,000, cost of goods sold of $1,000,000, EBIT of $350,000, interest expense of $65,000, and a tax rate of 27%. If the company paid $51,000 in dividends what is the addition to retained earnings. 2. Nitro Enterprise had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets with a combined book value of $6,943 were sold. Depreciation for the year was $42,822. What is the amount...
A firm has sales of $1,050, net income of $223, net fixed assets of $450, and...
A firm has sales of $1,050, net income of $223, net fixed assets of $450, and current assets of $285. The firm has $97 in inventory. What is the common-size statement value of inventory? 52.1 percent 9.2 percent 21.6 percent 34.0 percent 13.2 percent
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,...
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2.700) Income from operations 1,850 1.750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents 300 500 Accounts receivable 900 800 Inventory...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost o...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2,700) Income from operations 1,850 1,750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 300 500 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents Accounts receivable 900 800 Inventory...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: De...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid Taxable income Less Taxes 156 Net Income $363 Addition to retained earnings Dividends paid $254 2017 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable $400 Accounts rec. 350 425Notes payable 390 440 Inventory 410 $7901 Total Total $890 $956...
0.5 pts Question 18 is the percentage of sales dollars that reaches net income on the...
0.5 pts Question 18 is the percentage of sales dollars that reaches net income on the common-size statements. The return on assets The income margin The return on equity The profit margin Next Previous
0.5 pts Question 18 is the percentage of sales dollars that reaches net income on the common-size statements. The return on assets The income margin The return on equity The profit margin Next Previous
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods sold 8,100 Less: Depreciation 385 Earnings before interest and taxes $ 2,315 Less: Interest paid 106 Taxable income $ 2,209 Less: Taxes 663 Net income $ 1,546 Dividends $ 1,296 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 400 $ 425 Accounts payable $2,000 $1,925 Accounts rec. 1,170 1,070 Long-term debt 1.1001 1560 Inventory 1,940...
Question 4 11.11 pts Wing Air, Inc. has equipment with a book value of $500 that could be sold today at a 50% discount. Its inventory is valued at $450 and could be sold to a competitor for that amount. The firm has $100 in cash and customers owe it $250. What is the accounting value of its liquid assets? $300.00 $1,050.00 $575.00 O $800.00
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2.700) Income from operations 1,850 1.750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents 300 500 Accounts receivable 900 800 Inventory...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2,700) Income from operations 1,850 1,750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 300 500 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents Accounts receivable 900 800 Inventory...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid Taxable income Less Taxes 156 Net Income $363 Addition to retained earnings Dividends paid $254 2017 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable $400 Accounts rec. 350 425Notes payable 390 440 Inventory 410 $7901 Total Total $890 $956...
0.5 pts Question 18 is the percentage of sales dollars that reaches net income on the common-size statements. The return on assets The income margin The return on equity The profit margin Next Previous
0.5 pts Question 18 is the percentage of sales dollars that reaches net income on the common-size statements. The return on assets The income margin The return on equity The profit margin Next Previous
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods sold 8,100 Less: Depreciation 385 Earnings before interest and taxes $ 2,315 Less: Interest paid 106 Taxable income $ 2,209 Less: Taxes 663 Net income $ 1,546 Dividends $ 1,296 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 400 $ 425 Accounts payable $2,000 $1,925 Accounts rec. 1,170 1,070 Long-term debt 1.1001 1560 Inventory 1,940...
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