Homework Answers
| Debt to Assets | Free cash flow | |
| Novak Corp. | 19.5% | 15360 |
| Martinez corp. | 25.0% | 1280 |
| Workings: | ||
| Novak Corp. | Martinez corp. | |
| Current Assets | 466950 | 198720 |
| Plant assets | 680050 | 178720 |
| Total assets | 1147000 | 377440 |
| Novak Corp. | Martinez corp. | |
| Current liabilities | 84900 | 43200 |
| Long-term liabilities | 138765 | 51160 |
| Total liabilities | 223665 | 94360 |
| Novak Corp. | Martinez corp. | |
| Total liabilities | 223665 | 94360 |
| / Total assets | 1147000 | 377440 |
| Debt to Assets | 19.5% | 25.0% |
| Novak Corp. | Martinez corp. | |
| Net cash provided by operating activities | 176640 | 46080 |
| Less: Capital Expenditures | 115200 | 25600 |
| Less: Dividends paid | 46080 | 19200 |
| Free cash flow | 15360 | 1280 |
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Comparative financial statement data for Novak Corp. and Martinez Corp., two competitors, appear below. are as...
Comparative financial statement data for Novak Corp. and Martinez Corp., two competitors, appear below. All balance...
Comparative financial statement data for Novak Corp. and Martinez Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Novak Corp. 2022 $2,304,000 1,504,000 362,240 10,960 108.400 466,950 680,050 84,900 138,765 176,640 115,200 46,080 80,000 Martinez...
Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant...
Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Novak Corp. 2022 $2,304,000 1,504.000 362.240 10,960 108,400 466,950 680,050 84.900 138,765 176,640 115,200 46,080 80,000 Martinez Corp. 2022 $793,600 435,200 125,440 4,880 46,080 198,720 178,720 43,200 51,160 46,080 25,600 19,200 50,000 Compute working capital and the current ratio for each...
Comparative financial statement data for Flint Corporation and Culver Corporation, two competitors, appear below. All balance...
Comparative financial statement data for Flint Corporation and Culver Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash provided by operating activities Capital expenditures Dividends paid on common stock Weighted average number of shares outstanding Flint Corporation 2017 $2,376,000 1,551,000 373,560 11,880 112,200 441,100 702,240 87,549 143,220 182,160 118,800 47,520...
Question 9 Comparative financial statement data for Ivanhoe Company and Sheridan Company, two competitors, appear below....
Question 9 Comparative financial statement data for Ivanhoe Company and Sheridan Company, two competitors, appear below. All balance sheet data are as of December 31, 2017 Ivanhoe Company 2017 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash provided by operating activities Capital expenditures Dividends paid on common stock Weighted average number of shares outstanding $2,664,000 1,739,000 418,840 13,320 125,800 473,900 787,360 98,161 160,580 204,240...
Comparative financial statement data for Cullumber Company and Crane Company, two competitors, appear below. All balance...
Comparative financial statement data for Cullumber Company and
Crane Company, two competitors, appear below. All balance sheet
data are as of December 31, 2017.
Cullumber
Company
Crane
Company
2017
2017
Net sales
$2,700,000
$930,000
Cost of goods sold
1,762,500
510,000
Operating expenses
424,500
147,000
Interest expense
13,500
5,700
Income tax expense
127,500
54,000
Current assets
411,100
194,636
Plant assets (net)
798,000
209,592
Current liabilities
99,488
50,574
Long-term liabilities
162,750
61,026
Net cash provided by operating activities
207,000
54,000
Capital expenditures...
Condensed balance sheet and income statement data for Novak Corporation are presented here. NOVAK CORPORATION Balance...
Condensed balance sheet and income statement data for Novak Corporation are presented here. NOVAK 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 2020 $ 20,000 50,000 67,000 48,000 358,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 87,000 148,000 323,000 177,000 $735,000 $ 82,000 88,000 313,000 127,000 $610,000 $ 72,000 53,000...
Shown below are comparative statements of financial position for Novak Corporation. NOVAK CORPORATION Statement of Financial...
Shown below are comparative statements of financial position for Novak Corporation. NOVAK CORPORATION Statement of Financial Position December 31 Assets 2018 2017 Cash $68,860 $20,300 Accounts receivable 84,070 75,690 Inventory 173,760 194,250 Land 79,120 100,930 Equipment 262,700 192,800 Accumulated depreciation – equipment (64,900 ) (29,900 ) $603,610 $554,070 Liabilities and Shareholders’ Equity Accounts payable $37,110 $44,140 Bonds payable 145,000 191,000 Common shares 214,450 169,710 Retained earnings 207,050 149,220 $603,610 $554,070 Additional information: 1. Net income for 2018 was $96,630. There...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000 214,400...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400 ) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in the missing information. (Round debt to total assets ratio to 1 place, e.g. 2.1%.) Novak Corporation had the following comparative statements of financial position: Novak Corporation Statement of Financial Position Dec. 31, 2022 Assets Dec. 31, 2021 Current assets Cash $74,000 $79,000 Trading investments 98,000 Accounts receivable Inventory Prepaid expenses 155,000 245,000 99,000 150,500 220,000 66,000 Total current assets 671,000 Property, plant, and equipment...
Comparative financial statement data for Novak Corp. and Martinez Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Novak Corp. 2022 $2,304,000 1,504,000 362,240 10,960 108.400 466,950 680,050 84,900 138,765 176,640 115,200 46,080 80,000 Martinez...
Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Novak Corp. 2022 $2,304,000 1,504.000 362.240 10,960 108,400 466,950 680,050 84.900 138,765 176,640 115,200 46,080 80,000 Martinez Corp. 2022 $793,600 435,200 125,440 4,880 46,080 198,720 178,720 43,200 51,160 46,080 25,600 19,200 50,000 Compute working capital and the current ratio for each...
Comparative financial statement data for Flint Corporation and Culver Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash provided by operating activities Capital expenditures Dividends paid on common stock Weighted average number of shares outstanding Flint Corporation 2017 $2,376,000 1,551,000 373,560 11,880 112,200 441,100 702,240 87,549 143,220 182,160 118,800 47,520...
Question 9 Comparative financial statement data for Ivanhoe Company and Sheridan Company, two competitors, appear below. All balance sheet data are as of December 31, 2017 Ivanhoe Company 2017 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash provided by operating activities Capital expenditures Dividends paid on common stock Weighted average number of shares outstanding $2,664,000 1,739,000 418,840 13,320 125,800 473,900 787,360 98,161 160,580 204,240...
Comparative financial statement data for Cullumber Company and
Crane Company, two competitors, appear below. All balance sheet
data are as of December 31, 2017.
Cullumber
Company
Crane
Company
2017
2017
Net sales
$2,700,000
$930,000
Cost of goods sold
1,762,500
510,000
Operating expenses
424,500
147,000
Interest expense
13,500
5,700
Income tax expense
127,500
54,000
Current assets
411,100
194,636
Plant assets (net)
798,000
209,592
Current liabilities
99,488
50,574
Long-term liabilities
162,750
61,026
Net cash provided by operating activities
207,000
54,000
Capital expenditures...
Condensed balance sheet and income statement data for Novak Corporation are presented here. NOVAK 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 2020 $ 20,000 50,000 67,000 48,000 358,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 87,000 148,000 323,000 177,000 $735,000 $ 82,000 88,000 313,000 127,000 $610,000 $ 72,000 53,000...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000 214,400...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400 ) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in the missing information. (Round debt to total assets ratio to 1 place, e.g. 2.1%.) Novak Corporation had the following comparative statements of financial position: Novak Corporation Statement of Financial Position Dec. 31, 2022 Assets Dec. 31, 2021 Current assets Cash $74,000 $79,000 Trading investments 98,000 Accounts receivable Inventory Prepaid expenses 155,000 245,000 99,000 150,500 220,000 66,000 Total current assets 671,000 Property, plant, and equipment...
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