Homework Answers
Total equity=(Common stock+Retained earnings)
=(500+1120)=$1620
Long term debt to equity ratio=Long term debt/Total equity
=950/1620
=0.59(Approx)
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At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment...
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Is the current ratio 2.52? The balance sheet for Altoid Co. is shown below. ALTOID CO....
Is the current ratio 2.52?
The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 270 800 900 1,050 1,110 $ 4,130 $ 1,050 1,200 750 1,130 $ 4,130 Selected 2021 income statement information for Altoid Co. includes: Net Sales...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021...
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Zomby Co.’s revenues for the current year is $30,000. Its net fixed assets are $10,000, short-term liabilities are $3,00...
Zomby Co.’s revenues for the current year is $30,000. Its net fixed assets are $10,000, short-term liabilities are $3,000, long-term liabilities are $12,000 and shareholders’ equity is $7,000. Depreciation expense of the company is 25% of its net fixed assets and its interest expense is 10% of its long-term debt. If costs of goods sold is $22,500, general and administrative expenses are $6,000 and tax rate is 40%, calculate the following: a. Current Assets b. EBIT c. Net Income d....
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HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity $ 330 280 330 360 2,300 $ 3,600 $ 530 480 1,400 1,190 $ 3,600 The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,900 50...
Assets Cash and short-term investments $43000 Accounts receivable (net) 43000 Inventory 29000 Property, plant and equipment 237000 Total Assets $352000 Liabilities and Stockholders' Equity Current liabilities $56000 Long-term liabilities 76000 Stockholders' equity-common 220000 Total Liabilities and Stockholders' Equity $352000 Income Statement Sales revenue $95000 Cost of goods sold 50000 Gross profit 45000 Operating expenses 13320 Net income $31680 Number of shares of common stock 6000 Market price of common stock $17 Dividends per share on common stock 0.8 Cash provided...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 120,000 shares of no par stock) Retained earnings Total liabilities and shareholders equity $ 770,000 310,000 80,000 160,000 280,000 300,000 120,000 100,000 $2,120,000 $ 235,000 275,000 540,000 100,000 480,000 490,000 $ 2, 120,000 Additional information: 1. The...
CABOT CORPORATION Balance Sheet December 31, 2817 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Liabilities and Equity $12,e8 Accounts payable 28,888 Income taxes payable 38,15e Long-term note payable, secured by $15,58e 4,000 3,188 8, Accrued wages payable 5,580 65,488 mortgage on plant assets Prepaid expenses Plant assets, net Total assets 3,ee Common stock 154,3e8 Retained earnings 77,75e 249,758 Total liabilities and equity $ 249,75e These are short-term notes recelvable arising from customer (trade) sales. Requlrec...
Common-Size Balance Sheet Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable 2016 470 5,990 9,550 16,010 17,000 33,010 7,150 1.4 % 18.1 28.9 48.5 % 51.5 100.0 % 21.7 % Short-term notes Total current liabilities Long-term liabilities Total liabilities Total common shareholders' equity Total liabilities and shareholders' equity 6,750 13,900 6,950 20,850 12,160 33,010 20.4 42.1 % 21.1 63.2 % 36.8 100.0 % $ Common-Size Income Statement 2016 100.0...
Is the current ratio 2.52?
The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 270 800 900 1,050 1,110 $ 4,130 $ 1,050 1,200 750 1,130 $ 4,130 Selected 2021 income statement information for Altoid Co. includes: Net Sales...
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