Homework Answers
Gross Profit Margin = Gross Profit/Sales
= 400/1000
= 40%
Net Profit Margin = Net Profit/Sales
= 100/1000
= 10%
Return on Equity = Net Income/Average Equity Funds
= 100/2,975
= 3.36%
Debt to Equity Ratio = Debt/Equity
= 6,000/3,000
= 2:1
Inventory Turnover = Cost of Goods Sold/Average Inventory
= 600/900
= 0.67 times
Operating profit margin = operating profit/Sales
= 250/1000
= 25%
Times interest earned = EBIT/Interest
= 250/50
= 5 times
Return on Assets = Net Income/Average Assets
= 100/9,000
= 1.11%
Days of inventory = 365/Inventory turnover ratio
= 365/0.67
= 547.23 days
Avg collection period = 365*receivables/Sales
= 365*100/1,000
= 36.5 days
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Sales Revenues Cost of Goods Sold Gross Profit s 1,000 600 400 Depreciation Expense Other Operating...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the &...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the "plug " This Year %of SalesNext Year S 1,000 500 500 200 300 100 200 Sales Revenues Cost of Goods Sold Gross Margin Operating Expenses Eamings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes (at 50%) Net Income S 100 S 950 100 50 S 1,000 Beginning Retained Earnings Net Income...
Sales $7000 3000 Less: Cost of goods sold Gross Profit Less: Operating expenses Selling expenses General...
Sales $7000 3000 Less: Cost of goods sold Gross Profit Less: Operating expenses Selling expenses General and administrative expenses Lease expenses Depreciation expenses Total operating expenses Operating profits Less: Interest expenses Net profit before taxes Less: Taxes (30%) Net profit after taxes Less: Preferred stock dividends Earnings available for common stockholders Less: Common stock dividends Retained earnings 2220 200 2020 500 2013 2012 2013 Assets Current Assets Cash Account Receivable Inventory Total current assets 980 800 500 2280 2200 Liabilities...
Sales Less: Cost of goods sold Gross profit Less: Operating expenses Net operating income Less: Interest...
Sales Less: Cost of goods sold Gross profit Less: Operating expenses Net operating income Less: Interest expense Earnings before taxes Less: Taxes (35%) Net income 4,500,000 (3,500,000) 1,000,000 (500,000) $500,000 (100,000) $400,000 (140,000) $260,000 We were unable to transcribe this imageCurrent assets Net fixed assets Total Assets $500,000 Liabilities ,500,000 Owners equity $1,000,000 1,000,000 $2,000,000 $2,000,000 Total
Income Statement Sales revenue $50 Cost of goods sold 30 Gross profit (gross margin) 20 Selling...
Income Statement Sales revenue $50 Cost of goods sold 30 Gross profit (gross margin) 20 Selling and administrative expenses 10 Income before taxes A Income tax expense 4 Net Income $6 Earnings per share E Balance Sheet Cash $2 Liabilities: Inventory 5 Accounts payable $1 Current assets B Equipment, at cost 10 Shareholders’ Equity: Less: accumulated depreciation C Common stock, $1 par value per share 10 Equipment, net of depreciation 6 D Total assets $13 Total liabilities and s/equity $13...
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit...
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit 4,900 4,700 Selling and administrative expenses (2,800) (2,700) Income from operations 2,100 2,000 Interest expense (300) (250) Income before income taxes 1,800 1,750 Income tax expense (420) (400) Net income 1,380 1,350 Smith and Sons, Inc. Balance Sheet 2016 2015 (in millions) Assets Current assets Cash and cash equivalents 550 750 Accounts receivable 900 800 Inventory 850 1,000 Other current assets 400 250 Total...
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...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
INCOME STATEMENT (Figures in $ millions) Net sales $ 12,600 Cost of goods sold 3,760 Other...
INCOME STATEMENT (Figures in $ millions) Net sales $ 12,600 Cost of goods sold 3,760 Other expenses 4,127 Depreciation 2,388 Earnings before interest and taxes (EBIT) $ 2,375 Interest expense 655 Income before tax $ 1,720 Taxes (at 30%) 602 Net income $ 1,118 Dividends $ 816 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities $ 83 $ 152 Receivables 2,082 2,370 Inventories 157 208 Other current assets 837 902 Total...
2015 2016 182,910 96,000 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses...
2015 2016 182,910 96,000 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income 2017 211,400 $ 105,000 106,400 $ 53,000 53,400 $ 5,385 48,015 $ 22.647 25,368 $ 86,910 46,000 40,910 Less: Interest expense 6,459 Income before income taxes 34,451 16,160 Less: Income tax expense Net income 18,291 Print Done i Income statement UJOJ 0,15 LESS. IMETEST Experise Income before income taxes 48,015 $ 22,647 34,451 16,160 Less: Income tax expense 25,368 $ 18,291 Net...
Return on Assets Net Sales Gross Profit Margin Cost of Goods Operating Net Profit Before Tax...
Return on Assets Net Sales Gross Profit Margin Cost of Goods Operating Net Profit Before Tax PI Expense Accounts Receivable Return On Assets + Merchandise Inventory Total Current Assets Asset Turnover Cash Total Assets Fixed Assets Other Current Assets Use the charts on the following page to calculate Net Profit Margin % for each scenario: Scenario 1 Scenario 2 Income Statement Income Statement Sales Sales Gross Sales $200,000 Gross Sales $100,000 Promotional Allowances $25,000 Promotional Allowances $15,000 Customer Returns -$15,000...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the "plug " This Year %of SalesNext Year S 1,000 500 500 200 300 100 200 Sales Revenues Cost of Goods Sold Gross Margin Operating Expenses Eamings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes (at 50%) Net Income S 100 S 950 100 50 S 1,000 Beginning Retained Earnings Net Income...
Sales $7000 3000 Less: Cost of goods sold Gross Profit Less: Operating expenses Selling expenses General and administrative expenses Lease expenses Depreciation expenses Total operating expenses Operating profits Less: Interest expenses Net profit before taxes Less: Taxes (30%) Net profit after taxes Less: Preferred stock dividends Earnings available for common stockholders Less: Common stock dividends Retained earnings 2220 200 2020 500 2013 2012 2013 Assets Current Assets Cash Account Receivable Inventory Total current assets 980 800 500 2280 2200 Liabilities...
Sales Less: Cost of goods sold Gross profit Less: Operating expenses Net operating income Less: Interest expense Earnings before taxes Less: Taxes (35%) Net income 4,500,000 (3,500,000) 1,000,000 (500,000) $500,000 (100,000) $400,000 (140,000) $260,000 We were unable to transcribe this imageCurrent assets Net fixed assets Total Assets $500,000 Liabilities ,500,000 Owners equity $1,000,000 1,000,000 $2,000,000 $2,000,000 Total
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit 4,900 4,700 Selling and administrative expenses (2,800) (2,700) Income from operations 2,100 2,000 Interest expense (300) (250) Income before income taxes 1,800 1,750 Income tax expense (420) (400) Net income 1,380 1,350 Smith and Sons, Inc. Balance Sheet 2016 2015 (in millions) Assets Current assets Cash and cash equivalents 550 750 Accounts receivable 900 800 Inventory 850 1,000 Other current assets 400 250 Total...
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...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
2015 2016 182,910 96,000 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income 2017 211,400 $ 105,000 106,400 $ 53,000 53,400 $ 5,385 48,015 $ 22.647 25,368 $ 86,910 46,000 40,910 Less: Interest expense 6,459 Income before income taxes 34,451 16,160 Less: Income tax expense Net income 18,291 Print Done i Income statement UJOJ 0,15 LESS. IMETEST Experise Income before income taxes 48,015 $ 22,647 34,451 16,160 Less: Income tax expense 25,368 $ 18,291 Net...
Return on Assets Net Sales Gross Profit Margin Cost of Goods Operating Net Profit Before Tax PI Expense Accounts Receivable Return On Assets + Merchandise Inventory Total Current Assets Asset Turnover Cash Total Assets Fixed Assets Other Current Assets Use the charts on the following page to calculate Net Profit Margin % for each scenario: Scenario 1 Scenario 2 Income Statement Income Statement Sales Sales Gross Sales $200,000 Gross Sales $100,000 Promotional Allowances $25,000 Promotional Allowances $15,000 Customer Returns -$15,000...
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