Homework Answers
Working capital = Current assets-Current liabilities
2020 = 453254-235400 = 217854
2019 = 421955-223239 = 198716
Yes, Liquidity is going to Stronger
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Book and Music Inc. reported the following selected information for the years ended April 30. 2020...
and -y. BE2-6 Convenience store operator Alimentation Couche-Tard Inc. reported the following selected information for the...
and -y. BE2-6 Convenience store operator Alimentation Couche-Tard Inc. reported the following selected information for the years ended April 29, 2012, and April 24, 2011 in U.S. $ millions): 2012 2011 Current assets $1,337.4 $1,242.2 Non-current assets 3,115.8 2,684.0 Current liabilities 1,566.8 977.4 Non-current liabilities 711.8 969,4 (a) Calculate the debt to total assets ratio for each year. (b) Was the company's solvency stronger or weaker in 2012 compared with 2011?
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,200 $ Current assets 5,275 5,315 Non-current assets 8,667 8,721 8,968 14,040 14,351 Total assets Liabilities Current liabilities 3,420 3,467 3,517 Non-current liabilities 5,231 5,335 5,454 Total liabilities 8,929 8,630 8,683 Stockholders' Equity Common stock 138 139 142 Additional paid-in capital 2,216 2,247 2,296 Contributed capital...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,275 $ $ Current assets 5,098 5,130 5,200 5,315 8,840 9,036 Non-current assets 8,667 8,721 8,968 13,765 13,851 14,040 14,243 14,351 Total assets Liabilities Current liabilities 3,399 3,420 3,467 3,517 Non-current liabilities 5,231 5,263 5,335 5,454 5,412 Total liabilities 8,630 8,802 8,929 8,683 Stockholders' Equity Common...
Evans Inc. had current liabilities at April 30 of $79,900. The firm's current ratio at that...
Evans Inc. had current liabilities at April 30 of $79,900. The firm's current ratio at that date was 19. Required: a. Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $14.400 of accounts payable on April 29. Calculate the current ratio and working capital at April 30 as if the April 29 payment had not been made. (Round "Current ratio" answer to 2 decimal places.) c. Identify the changes, if any, to working...
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in...
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 2019 3M Company Balance Sheets (partial) 2020 Current assets Cash and cash equivalents $3,180 Accounts receivable, net 3,600 Inventories 2,738 Other current assets 1,932 Total current assets $11,450 Current liabilities $4,830 $1,836 3,180 3,019 1,590 $9,625 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 75,500 95,000 83,800 6,400 260,700 144,000 (37,000) $367,700 $ 64,000 71,000 116,500 9,400 260,900 135,000 (19,000) $376,900 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 73,700 99,500 86,800 6,700 266,709 147,000 (38,500) $375,200 $ 67,000 74,000 121,000 10,000 272,000 138,000 (20,500 $389,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 83,300 75,500 70, 800 5, 100 234, 700 131,000 (30, 500) $335, 200 $ 51,000 58,000 97,000 6, 800 212,800 122,000 (12,500) $322, 300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total...
The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 73,700 99,500 86,800 6,700 266, 700 147.000 (38,500) $375,200 $ 67,000 74,000 121,000 10,000 272,000 138,000 (20.500) $389,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par...
QUESTION #5 - Financial Statement Analysis - 5 marks (suggested time: 9 minutes) Indigo Books &...
QUESTION #5 - Financial Statement Analysis - 5 marks (suggested time: 9 minutes) Indigo Books & Music Inc. reported the following selected information for the years ended March 31, 2018 and April 1, 2017 (all amounts in thousands of dollars): Total current assets Total assets Total current liabilities Total liabilities Total revenue Net earnings 2018 $487,152 633,574 230,149 232,477 $1,079,425 $21,800 2017 $482,471 609,602 234,329 236,758 $1,019,845 $20,918 1. Write out the basic accounting equation in dollars as at the...
and -y. BE2-6 Convenience store operator Alimentation Couche-Tard Inc. reported the following selected information for the years ended April 29, 2012, and April 24, 2011 in U.S. $ millions): 2012 2011 Current assets $1,337.4 $1,242.2 Non-current assets 3,115.8 2,684.0 Current liabilities 1,566.8 977.4 Non-current liabilities 711.8 969,4 (a) Calculate the debt to total assets ratio for each year. (b) Was the company's solvency stronger or weaker in 2012 compared with 2011?
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,200 $ Current assets 5,275 5,315 Non-current assets 8,667 8,721 8,968 14,040 14,351 Total assets Liabilities Current liabilities 3,420 3,467 3,517 Non-current liabilities 5,231 5,335 5,454 Total liabilities 8,929 8,630 8,683 Stockholders' Equity Common stock 138 139 142 Additional paid-in capital 2,216 2,247 2,296 Contributed capital...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,275 $ $ Current assets 5,098 5,130 5,200 5,315 8,840 9,036 Non-current assets 8,667 8,721 8,968 13,765 13,851 14,040 14,243 14,351 Total assets Liabilities Current liabilities 3,399 3,420 3,467 3,517 Non-current liabilities 5,231 5,263 5,335 5,454 5,412 Total liabilities 8,630 8,802 8,929 8,683 Stockholders' Equity Common...
Evans Inc. had current liabilities at April 30 of $79,900. The firm's current ratio at that date was 19. Required: a. Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $14.400 of accounts payable on April 29. Calculate the current ratio and working capital at April 30 as if the April 29 payment had not been made. (Round "Current ratio" answer to 2 decimal places.) c. Identify the changes, if any, to working...
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 2019 3M Company Balance Sheets (partial) 2020 Current assets Cash and cash equivalents $3,180 Accounts receivable, net 3,600 Inventories 2,738 Other current assets 1,932 Total current assets $11,450 Current liabilities $4,830 $1,836 3,180 3,019 1,590 $9,625 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 75,500 95,000 83,800 6,400 260,700 144,000 (37,000) $367,700 $ 64,000 71,000 116,500 9,400 260,900 135,000 (19,000) $376,900 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 73,700 99,500 86,800 6,700 266,709 147,000 (38,500) $375,200 $ 67,000 74,000 121,000 10,000 272,000 138,000 (20,500 $389,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 83,300 75,500 70, 800 5, 100 234, 700 131,000 (30, 500) $335, 200 $ 51,000 58,000 97,000 6, 800 212,800 122,000 (12,500) $322, 300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total...
The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 73,700 99,500 86,800 6,700 266, 700 147.000 (38,500) $375,200 $ 67,000 74,000 121,000 10,000 272,000 138,000 (20.500) $389,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par...
QUESTION #5 - Financial Statement Analysis - 5 marks (suggested time: 9 minutes) Indigo Books & Music Inc. reported the following selected information for the years ended March 31, 2018 and April 1, 2017 (all amounts in thousands of dollars): Total current assets Total assets Total current liabilities Total liabilities Total revenue Net earnings 2018 $487,152 633,574 230,149 232,477 $1,079,425 $21,800 2017 $482,471 609,602 234,329 236,758 $1,019,845 $20,918 1. Write out the basic accounting equation in dollars as at the...
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