Homework Answers
Answer of Part a:
For 2022:
Profit Margin = Net Income / Sales *100
Profit Margin = $93,000 / $746,000 *100
Profit Margin =
12.5%
For 2021:
Profit Margin = Net Income / Sales *100
Profit Margin = $68,000 / $606,000 *100
Profit Margin =
11.2%
Answer of Part b:
For 2022:
Gross Profit Rate = Gross Profit / Sales *100
Gross Profit Rate = $274,000 / $746,000 *100
Gross Profit Rate =
36.7%
For 2021:
Gross Profit Rate = Gross Profit / Sales *100
Gross Profit Rate = $219,000 / $606,000 *100
Gross Profit Rate =
36.1%
Answer of Part c:
For 2022:
Average Assets = (Beginning Assets + Ending Assets)/2
Average Assets = ($614,000 + $739,000)/2
Average Assets = $676,500
Asset Turnover = Sales / Average Assets
Asset Turnover = $746,000 / $676,500
Asset Turnover = 1.10
times
For 2021:
Average Assets = (Beginning Assets + Ending Assets)/2
Average Assets = ($547,000 + $614,000)/2
Average Assets = $580,500
Asset Turnover = Sales / Average Assets
Asset Turnover = $606,000 / $580,500
Asset Turnover = 1.04
times
Answer of Part d:
For 2022:
No. of Shares = $326,000 / $10
No. of Shares = 32600
Earnings per share = Net Income / No. of Shares
Earnings per share = $93,000 / 32600
Earnings per share =
$2.85
For 2021:
No. of Shares = $316,000 / $10
No. of Shares = 31600
Earnings per share = Net Income / No. of Shares
Earnings per share = $68,000 / 31600
Earnings per share =
$2.15
Answer of Part e:
For 2022:
Price Earnings Ratio = Market per share / EPS
Price Earnings Ratio = $8.50 / $2.85
Price Earnings Ratio = 3
times
For 2021:
Price Earnings Ratio = Market per share / EPS
Price Earnings Ratio = $7.50 / $2.15
Price Earnings Ratio =
3.5 times
Add Answer to:
1. The market price of Indigo's common stock was $7.00,$7.50, and $8.50 for 2020, 2021, and...
*Problem 13-03A a (Video) Condensed balance sheet and income statement data for Indigo Corporation are presented...
*Problem 13-03A a (Video) Condensed balance sheet and income statement data for Indigo Corporation are presented here. Indigo Corporation Balance Sheets December 31 2020 Cash $ 31,000 Accounts receivable (net) 51,000 Other current assets 96,000 Investments 61,000 Plant and equipment (net) 500,000 $739,000 Current liabilities $ 86,000 Long-term debt 151,000 Common stock, $10 par 326,000 Retained earnings 176,000 $739,000 2019 $ 21,000 46,000 101,000 76,000 370,000 2018 $ 19,000 49,000 70,000 51,000 358,000 $547,000 $ 71,000 56,000 306,000 114,000 $614,000...
Problem 13-03A Condensed balance sheet and income statement data for Marigold Corporation are presented here. MARIGOLD...
Problem 13-03A Condensed balance sheet and income statement data for Marigold Corporation are presented here. MARIGOLD CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) 500,000 370,000 $739,000 $614,000 Current liabilities $ 87,000 $82,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 177,000 127,000 $739,000 $614,000 2020 $20,000 50,000 69,000 50,000 358,000 $547,000 $ 72,000 55,000...
Wie PLUS Omegage Wiley PLUS he will convergenti/manuni YouTube Maps ssignment ES Condensed balance sheet and...
Wie PLUS Omegage Wiley PLUS he will convergenti/manuni YouTube Maps ssignment ES Condensed balance sheet and income statement data for Indigo Corporation are presented here. Indigo Corporation Balance Sheets December 31 $ 19,000 49,000 70,000 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 51,000 $ 31,000 51,000 96,000 61,000 500,000 $739,000 $ 86,000 151,000 326,000 176,000 $739,000 $21,000 46,000 101,000 76,000 370,000 $614,000 $ 81,000 91,000 316,000 126,000 $614,000 Current liabilities Long-term debt Common stock, $10...
Problem 13-03A Condensed balance sheet and income statement data for Cheyenne Corporation are presented here. CHEYENNE...
Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne
Corporation are presented here.
CHEYENNE CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
97,000
102,000
71,000
Investments
62,000
77,000
52,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
$549,000
Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
152,000
92,000
57,000
Common stock, $10 par
327,000
317,000
307,000
Retained earnings
176,000...
Problem 13-03A Condensed balance sheet and income statement data for Ayayai Corporation are presented here. AYAYAI...
Problem 13-03A
Condensed balance sheet and income statement data for Ayayai
Corporation are presented here.
AYAYAI CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
92,000
97,000
66,000
Investments
57,000
72,000
47,000
Plant and equipment (net)
500,000
370,000
358,000
$731,000
$606,000
$539,000
Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
147,000
87,000
52,000
Common stock, $10 par
322,000
312,000
302,000
Retained earnings
176,000...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
Additional information: 1. The market price of Flint’s common stock was $7.00, $7.50, and $8.50 for...
Additional information:
1.
The market price of Flint’s common stock was $7.00, $7.50, and
$8.50 for 2018, 2019, and 2020, respectively.
2.
You must compute dividends paid. All dividends were paid in
cash.
Problem 13-03A a (Video) Condensed balance sheet and income statement data for Flint Corporation are presented here Flint Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 32,000 22,000 20,000 52,000 93,000 58,000 500,000 47,000...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
1. M EWUIN View Policies Current Attempt in Progress Condensed balance sheet and income statement data...
1. M EWUIN View Policies Current Attempt in Progress Condensed balance sheet and income statement data for Bridgeport Corporation are BRIDGEPORT CORPORATION Balance Sheets December 31 2022 2021 2020 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $32,000 $22,000 $20,000 52,000 47,000 50,000 93,000 98,000 67,000 58,000 73,000 48,000 500,000 370,000 358,000 $735,000 $610,000 $543,000 $ 87,000 $82,000 $72,000 148,000 88,000 53,000 323,000 313,000 303,000 177,000 127,000 115,000 $735,000 $610,000 $543,000 Current liabilities Long-term debt Common...
*Problem 13-03A a (Video) Condensed balance sheet and income statement data for Indigo Corporation are presented here. Indigo Corporation Balance Sheets December 31 2020 Cash $ 31,000 Accounts receivable (net) 51,000 Other current assets 96,000 Investments 61,000 Plant and equipment (net) 500,000 $739,000 Current liabilities $ 86,000 Long-term debt 151,000 Common stock, $10 par 326,000 Retained earnings 176,000 $739,000 2019 $ 21,000 46,000 101,000 76,000 370,000 2018 $ 19,000 49,000 70,000 51,000 358,000 $547,000 $ 71,000 56,000 306,000 114,000 $614,000...
Problem 13-03A Condensed balance sheet and income statement data for Marigold Corporation are presented here. MARIGOLD CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) 500,000 370,000 $739,000 $614,000 Current liabilities $ 87,000 $82,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 177,000 127,000 $739,000 $614,000 2020 $20,000 50,000 69,000 50,000 358,000 $547,000 $ 72,000 55,000...
Wie PLUS Omegage Wiley PLUS he will convergenti/manuni YouTube Maps ssignment ES Condensed balance sheet and income statement data for Indigo Corporation are presented here. Indigo Corporation Balance Sheets December 31 $ 19,000 49,000 70,000 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 51,000 $ 31,000 51,000 96,000 61,000 500,000 $739,000 $ 86,000 151,000 326,000 176,000 $739,000 $21,000 46,000 101,000 76,000 370,000 $614,000 $ 81,000 91,000 316,000 126,000 $614,000 Current liabilities Long-term debt Common stock, $10...
Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne
Corporation are presented here.
CHEYENNE CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
97,000
102,000
71,000
Investments
62,000
77,000
52,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
$549,000
Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
152,000
92,000
57,000
Common stock, $10 par
327,000
317,000
307,000
Retained earnings
176,000...
Problem 13-03A
Condensed balance sheet and income statement data for Ayayai
Corporation are presented here.
AYAYAI CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 31,000
$ 21,000
$ 19,000
Accounts receivable (net)
51,000
46,000
49,000
Other current assets
92,000
97,000
66,000
Investments
57,000
72,000
47,000
Plant and equipment (net)
500,000
370,000
358,000
$731,000
$606,000
$539,000
Current liabilities
$ 86,000
$ 81,000
$ 71,000
Long-term debt
147,000
87,000
52,000
Common stock, $10 par
322,000
312,000
302,000
Retained earnings
176,000...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
Additional information:
1.
The market price of Flint’s common stock was $7.00, $7.50, and
$8.50 for 2018, 2019, and 2020, respectively.
2.
You must compute dividends paid. All dividends were paid in
cash.
Problem 13-03A a (Video) Condensed balance sheet and income statement data for Flint Corporation are presented here Flint Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 32,000 22,000 20,000 52,000 93,000 58,000 500,000 47,000...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
1. M EWUIN View Policies Current Attempt in Progress Condensed balance sheet and income statement data for Bridgeport Corporation are BRIDGEPORT CORPORATION Balance Sheets December 31 2022 2021 2020 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $32,000 $22,000 $20,000 52,000 47,000 50,000 93,000 98,000 67,000 58,000 73,000 48,000 500,000 370,000 358,000 $735,000 $610,000 $543,000 $ 87,000 $82,000 $72,000 148,000 88,000 53,000 323,000 313,000 303,000 177,000 127,000 115,000 $735,000 $610,000 $543,000 Current liabilities Long-term debt Common...
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