Homework Answers
Net profit margin ratio=Net profit/Sales revenue
=24300/45000
which is equal to
=54%
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Selected financial information presented below was obtained from the financial statements of the Napa Valley Brewery:...
6 of 40 (3 complete) The following is summary of information presented on the financial statements...
6 of 40 (3 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $66,000 $55,000 Accounts Receivable 80,000 80,000 Merchandise Inventory 51,000 45,000 Current Liabilities 72,000 57,000 Long-term Liabilities 33,000 55,000 Common Stock 51,000 41,000 Retained Earnings 41,000 27,000 Net Sales Revenue Cost of Goods Sold $526,000 401,000 $500,000 399,000 O A. a 26.32% increase in current liabilities OB. that current liabilities are 36.55% of...
Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in...
Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Wal-Mart Target Income Statement Data for Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $66,900 45,000 15,000 $419,000 309,000 80,000 1,900 (80) 1,500 (390) 6,700 4,620 21,010 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders" equity Total liabilities and stockholders $17,000...
Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are presented here...
Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Wal-Mart Target Stores, Corporation Inc. Income Statement Data for Year $66,700 $409,000 46,000 306,000 14,700 76,000 650 1,800 (95) (420) 1,400 7,200 $3,855 $17,580 Net income Current assets Noncurrent assets Total assets Balance Sheet Data (End of Year) $19,000 $48,000 25,600 120,000 $44,600 $168,000...
Presented below are condensed financial statements adapted from those of two actual companies competing as the...
Presented below are condensed financial statements adapted from those of two actual companies competing as the primary players in a specialty area of the food manufacturing and distribution industry. ($ in millions, except per share amounts.) Balance Sheets Metropolitan Republic Assets Cash $ 282.3 $ 43.1 Accounts receivable (net) 513.7 416.0 Short-term investments — 8.3 Inventories 562.4 719.2 Prepaid expenses and other current assets 216.6 576.7 Current assets $ 1,575.0 $ 1,763.3 Property, plant, and equipment (net) 2,702.2 2,656.5 Intangibles...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following transactions occurred during July 1. Received $1,700 cash for services performed during July 2. Received $8,150 cash from the issuance of common stock to owners. 3. Received $850 from a customer as payment for services performed during June. 4. Biled $4,850 to customers for services performed on account in July. 5. Borrowed $3,400 from the bank and signed a promissory note. 6. Received $2,350...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., sho SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,835 $4,850 Total current assets 12,510 10,850 Noncurrent assets $13,685 $17,360 Total assets $2,835 $4,780 Current liabilities 6,535 4,945 Long-term liabilities 9,370 9,725 Total liabilities 7,635 Shareholders' equity 4,315 $13,685 $17,360 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) 170 $630 Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,760 $4,100 Total current assets 10,100 12,360 Noncurrent assets $12,860 $16,460 Total assets $2,760 $4,995 Current liabilities 5,260 6,460 Long-term liabilities Total liabilities 9,220 10,255 6,205 3,640 Shareholders' equity $12,860 $16,460 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) $155 575 Income...
Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines...
Suppose you have been presented with selected information taken
from the financial statements of Southwest Airlines
Co., shown below.
SOUTHWEST AIRLINES CO.
Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
10,450
12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
2022
2021
Net income (loss)
$ 175
$ 565
Income tax...
The condensed financial statements of Ivanhoe Company for the years 2016 and 2017 are presented below....
The condensed financial statements of Ivanhoe Company for the years 2016 and 2017 are presented below. IVANHOE COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 580 510 Inventory 550 480 Prepaid expenses 130 160 Total current assets 1,590 1,510 Property, plant, and equipment (net) 410 380 Investments 120 120 Intangibles and other assets 530 510 Total assets $2,650 $2,520 Current liabilities $930 $900 Long-term liabilities 570 470 Stockholders’...
2.10 02,3 Understanding financial statement relationships The information presented here represents selected data from the December...
2.10 02,3 Understanding financial statement relationships The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then ended for three firms: Firm B $435,000 Firm A ? $80.000 55,000 ? 68,000 12,000 50,000 Firm C $155,000 75,000 45,000 Total assets, 12/31/16............. Total liabilities, 12/31/16 ................ Paid-in capital, 12/31/16................ Retained earnings, 12/31/16............. Net income for 2016 .... Dividends declared and paid during 2016 ... Retained earnings, 1/1/16............. 59,000 186,000 110,000 25,000...
6 of 40 (3 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $66,000 $55,000 Accounts Receivable 80,000 80,000 Merchandise Inventory 51,000 45,000 Current Liabilities 72,000 57,000 Long-term Liabilities 33,000 55,000 Common Stock 51,000 41,000 Retained Earnings 41,000 27,000 Net Sales Revenue Cost of Goods Sold $526,000 401,000 $500,000 399,000 O A. a 26.32% increase in current liabilities OB. that current liabilities are 36.55% of...
Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Wal-Mart Target Income Statement Data for Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $66,900 45,000 15,000 $419,000 309,000 80,000 1,900 (80) 1,500 (390) 6,700 4,620 21,010 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders" equity Total liabilities and stockholders $17,000...
Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Wal-Mart Target Stores, Corporation Inc. Income Statement Data for Year $66,700 $409,000 46,000 306,000 14,700 76,000 650 1,800 (95) (420) 1,400 7,200 $3,855 $17,580 Net income Current assets Noncurrent assets Total assets Balance Sheet Data (End of Year) $19,000 $48,000 25,600 120,000 $44,600 $168,000...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following transactions occurred during July 1. Received $1,700 cash for services performed during July 2. Received $8,150 cash from the issuance of common stock to owners. 3. Received $850 from a customer as payment for services performed during June. 4. Biled $4,850 to customers for services performed on account in July. 5. Borrowed $3,400 from the bank and signed a promissory note. 6. Received $2,350...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., sho SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,835 $4,850 Total current assets 12,510 10,850 Noncurrent assets $13,685 $17,360 Total assets $2,835 $4,780 Current liabilities 6,535 4,945 Long-term liabilities 9,370 9,725 Total liabilities 7,635 Shareholders' equity 4,315 $13,685 $17,360 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) 170 $630 Income tax...
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,760 $4,100 Total current assets 10,100 12,360 Noncurrent assets $12,860 $16,460 Total assets $2,760 $4,995 Current liabilities 5,260 6,460 Long-term liabilities Total liabilities 9,220 10,255 6,205 3,640 Shareholders' equity $12,860 $16,460 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) $155 575 Income...
Suppose you have been presented with selected information taken
from the financial statements of Southwest Airlines
Co., shown below.
SOUTHWEST AIRLINES CO.
Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
10,450
12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
2022
2021
Net income (loss)
$ 175
$ 565
Income tax...
2.10 02,3 Understanding financial statement relationships The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then ended for three firms: Firm B $435,000 Firm A ? $80.000 55,000 ? 68,000 12,000 50,000 Firm C $155,000 75,000 45,000 Total assets, 12/31/16............. Total liabilities, 12/31/16 ................ Paid-in capital, 12/31/16................ Retained earnings, 12/31/16............. Net income for 2016 .... Dividends declared and paid during 2016 ... Retained earnings, 1/1/16............. 59,000 186,000 110,000 25,000...
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