Homework Answers
| 2015 | 2016 | 2017 | 2018 | |
| Sales | 143397 | 129767 | 121686 | |
| COGS | 43053 | 41529 | 39205 | |
| Gross Profit | 100344 | 88238 | 82481 | |
| Operating Expenses | 94187 | 83043 | 78248 | |
| Net Income | 6157 | 5195 | 4233 | |
| Inventory | 19240 | 14504 | 21756 | 18145 |
| Accounts payable | 8584 | 9620 | 6808 | 5920 |
| Purchase of inventory on account | 38317 | 48781 | 35594 | |
| Cash payment to suppliers | 37281 | 51593 | 36482 |
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(a) Calculate the missing amounts. 2015 2016 2017 2018 Income Statement Data Sales revenue $143,397 (e)...
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following
tabulations of income statement data. Fill in the amounts that are
missing.
2016
2017
2018
Sales revenue
$288,650
$
$413,170
Sales returns and allowances
(11,700)
(12,650)
Net sales
344,231
Beginning inventory
19,490
30,190
Ending inventory
Purchases
260,780
297,192
Purchase returns and allowances
(5,390)
(8,590)
(9,130)
Freight-in
7,420
9,620
12,170
Cost of goods sold
(227,400)
(291,369)
Gross profit on sales
49,550
99,530
90,280
Click if you would like to
Show...
MarinerMariner Group reported the following revenues and net income amounts: (in millions) 2017 2016 2015 2014...
MarinerMariner Group reported the following revenues and net income amounts: (in millions) 2017 2016 2015 2014 Revenue . . . . . . . . . . . . . . . . . $9,620 $8,880 $8,325 $9,250 Net income . . . . . . . . . . . . . . . $609 $551 $522 $580 a. Show MarinerMariner Group's trend percentages for revenues and net income. Use 20142014 as the base year and round to the...
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenu...
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 72,340 -1800|(6) $32,300 23695 (a) Net Income $13,050 $111,100 $73,700 83750CC) 23695(e) $30,910 183440 ) $71,900 $116,050 $47,390 43960 CP Click if you would like to Show Work for this question: Open Show Work In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 200 units at...
Problem 5-08A Windsor, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor...
Problem 5-08A Windsor, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive. Calculate the missing amounts. 2021 2022 2023 $91,000 $ (a) 24,000 51,000 (e) $70,000...
Net Revenue and Net Income w 2019 2018 2017 2016 2015 Net Revenue $ 1,350,000 $...
Net Revenue and Net Income w 2019 2018 2017 2016 2015 Net Revenue $ 1,350,000 $ 1,182,000 $ 1,150,000 $ 1,002,000 $ 1,037,000 122,000 115,000 88,000 73,000 79,000 Net Income Majestic Oaks Realty's net revenue and net income for the following five-year period, using 2015 as the base year, follow: Click the icon to view net revenue and net income for the five years.) Requirements 1. Computo a trend analysis for net revenue and net income. Round to the nearest...
Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016....
Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016. (Dollars are in thousands, except share information.) 2017 $ 1,123,000 71,900 855,338 2016 $ 1,130,700 61,700 838,078 Net sales Net income (loss) Total assets Share information Shares outstanding at year-end Preferred dividends 64,507,000 66,282,000 There were 73,139,000 shares outstanding at the end of 2015. (a) What was the company's earnings per share for each year? (Round answers to 2 decimal places, e.g. 15.25.) 2017...
The following data were taken from the income statements of Mydorf Company. Sales revenue Beginning inventory...
The following data were taken from the income statements of Mydorf Company. Sales revenue Beginning inventory Purchases 2020 $6,450,000 915,000 4,328,250 1,040,000 2019 $6,230,000 900,000 4,643,250 915,000 Ending inventory Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Inventory turnover times times LINK TO TEXT Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Days in inventory days...
Condensed statement of financial position and income statement data for Elkhardt Ltd. are shown below: ELKHARDT...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
0.00 DJ Revenue Sales Returns and Allowances Additional facts: 1. Merchandise inventory on December 31, 2017,...
0.00 DJ Revenue Sales Returns and Allowances Additional facts: 1. Merchandise inventory on December 31, 2017, is $65.000. 2. Roshek Department Store uses a periodic system 725,000 11.000 Instructions repare an income statement through gross profit for the vear ended December 31, 2017. - Val Knight operates a retail clothing operation. She purchases all merchandise Calculate missing amon inventory on credit and uses a periodic inventory system. The Accounts Pavable account and assess profitability is used for recording inventory purchases...
0 Income statement 2016 2015 Sales revenues Less: Cost of goods sold Gross profit Less: Operating...
0 Income statement 2016 2015 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes (amounts in thousands) 2017 211,400 $ 182,910 105,000 96,000 106,400 $ 86,910 53,000 46,000 53.400 $ 40,910 5.385 6,459 48,015 $ 34,451 22.617 16. 160 Print Done i Income statement JJUJ 0,435 LESS. Merest expense Income before income taxes 48,015 $ 22,647 25,368 $ 34,451 16,160 Less: Income tax expense Net income 18,291 Additional...
Two or more items are omitted in each of the following
tabulations of income statement data. Fill in the amounts that are
missing.
2016
2017
2018
Sales revenue
$288,650
$
$413,170
Sales returns and allowances
(11,700)
(12,650)
Net sales
344,231
Beginning inventory
19,490
30,190
Ending inventory
Purchases
260,780
297,192
Purchase returns and allowances
(5,390)
(8,590)
(9,130)
Freight-in
7,420
9,620
12,170
Cost of goods sold
(227,400)
(291,369)
Gross profit on sales
49,550
99,530
90,280
Click if you would like to
Show...
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 72,340 -1800|(6) $32,300 23695 (a) Net Income $13,050 $111,100 $73,700 83750CC) 23695(e) $30,910 183440 ) $71,900 $116,050 $47,390 43960 CP Click if you would like to Show Work for this question: Open Show Work In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 200 units at...
Problem 5-08A Windsor, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive. Calculate the missing amounts. 2021 2022 2023 $91,000 $ (a) 24,000 51,000 (e) $70,000...
Net Revenue and Net Income w 2019 2018 2017 2016 2015 Net Revenue $ 1,350,000 $ 1,182,000 $ 1,150,000 $ 1,002,000 $ 1,037,000 122,000 115,000 88,000 73,000 79,000 Net Income Majestic Oaks Realty's net revenue and net income for the following five-year period, using 2015 as the base year, follow: Click the icon to view net revenue and net income for the five years.) Requirements 1. Computo a trend analysis for net revenue and net income. Round to the nearest...
Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016. (Dollars are in thousands, except share information.) 2017 $ 1,123,000 71,900 855,338 2016 $ 1,130,700 61,700 838,078 Net sales Net income (loss) Total assets Share information Shares outstanding at year-end Preferred dividends 64,507,000 66,282,000 There were 73,139,000 shares outstanding at the end of 2015. (a) What was the company's earnings per share for each year? (Round answers to 2 decimal places, e.g. 15.25.) 2017...
The following data were taken from the income statements of Mydorf Company. Sales revenue Beginning inventory Purchases 2020 $6,450,000 915,000 4,328,250 1,040,000 2019 $6,230,000 900,000 4,643,250 915,000 Ending inventory Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Inventory turnover times times LINK TO TEXT Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Days in inventory days...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
0.00 DJ Revenue Sales Returns and Allowances Additional facts: 1. Merchandise inventory on December 31, 2017, is $65.000. 2. Roshek Department Store uses a periodic system 725,000 11.000 Instructions repare an income statement through gross profit for the vear ended December 31, 2017. - Val Knight operates a retail clothing operation. She purchases all merchandise Calculate missing amon inventory on credit and uses a periodic inventory system. The Accounts Pavable account and assess profitability is used for recording inventory purchases...
0 Income statement 2016 2015 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes (amounts in thousands) 2017 211,400 $ 182,910 105,000 96,000 106,400 $ 86,910 53,000 46,000 53.400 $ 40,910 5.385 6,459 48,015 $ 34,451 22.617 16. 160 Print Done i Income statement JJUJ 0,435 LESS. Merest expense Income before income taxes 48,015 $ 22,647 25,368 $ 34,451 16,160 Less: Income tax expense Net income 18,291 Additional...
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