Homework Answers
|
Quick ratio = ( Cash and Cash equivalents + Accounts receivable ) / Current Liabilities |
|
| 2015 |
0.49 ( $ 850 + $ 800) / $ 3,350 |
| 2016 |
0.45 ( $ 650 + $ 900 ) / $ 3,450 |
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(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit...
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,...
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2.700) Income from operations 1,850 1.750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents 300 500 Accounts receivable 900 800 Inventory...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost o...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2,700) Income from operations 1,850 1,750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 300 500 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents Accounts receivable 900 800 Inventory...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years Ended December 31, 2016 and 2015 2016 2015 $10,000 $ 9,500 (in millions) (,500) (5.2 5,20 Net sales.. 4,500 4,300 2,800) (2.700 1,700 1,600 (300) (250) 1,400 1,350 (420) (400 $ 980 $ 950 . . . . Gross profit Selling and administrative expenses Income from operations. . Interest expense. Income before income taxes . .. Income tax expense. Net income.. SMITH & SONS,...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Eamings before interest and taxes (EBIT) Interest expense $634 170 $464 Pretax income Taxes 162 Net income $302 Dividends 75 Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment...
Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) 2016 2015 2014 Net...
Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) 2016 2015 2014 Net Sales $14,095 $13,110 $12,166 Credit card revenues 342 396 374 Total revenues 14,437 13,506 12,540 Cost of sales and related buying and occupancy costs (9,168) (8,406) (7.737) Selling, general and administrative expenses (4,168) (3,777) (3,453) Earnings before interest and income taxes 1,101 1,323 1,350 Interest expense, net (125) (138) (161) Earnings before income taxes 976 1,185 1,189 Income tax expense (376) (465) (455) Net...
Ratios 2016 2015 a. Gross profit margin (%) 39.4 39.1 b. Operating profit margin (%) 5.1...
Ratios
2016
2015
a.
Gross profit margin (%)
39.4
39.1
b.
Operating profit margin (%)
5.1
7.5
c.
Net profit margin (%)
2.4
4.0
d.
Return on shareholders' equity (%)
14.1
25.2
e.
Return on assets (%)
3.1
5.2
f.
Times interest earned coverage
3.6
5.6
g.
Long-term debt-to-equity ratio
1.5
3.8
h.
Days of inventory
126.2
121.8
i.
Inventory turnover ratio
2.9
3.0
j.
Average collection
period
7.4
7.5
1-From 2015 to 2016, Macy’s, Inc., return on equity and...
Glocal Inc.: December 31: Balance Sheets (Millions of Dollars) Assets 2015 2016 iabilities and Equity Cash...
Glocal Inc.: December 31: Balance Sheets (Millions of Dollars) Assets 2015 2016 iabilities and Equity Cash and equivalents 2016 2015 290 300 Accounts Payable Notes Payable Accruals Short-term investments 170 50 60 50 Accounts Receivable Inventories 190 140 300 400 130 200 350 300 Current Liabilities Total Current Assets 490 390 1,000 1,050 Long-Term Bonds 600 400 Total Liabilities Preferred stock 1,090 790 Net Plant and Equipment 30 40 1,000 550 Common Stock 200 170 Retained Earnings Total Common Equity...
Sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Loss on sales...
Sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Loss on sales of securities Income before interest and taxes Interest expense Income before taxes Income tax expense Net income Retained earnings, January 1, 2017 $542,825 (435,550) $107,275 $(65,830) (310) $41,135 (9,220) $31,915 (12,766) $19,149 58,615 $77,764 (12,149) $65,615 Dividends paid on common stock Retained earnings, December 31, 2017 December 31, 2016 Heartland Inc. Comparative Statements of Financial Position (thousands omitted) December 31, 2017 Assets Current assets:...
For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $ 548,876 $ 420,484 Cost of goods sold 330,423 266,58...
For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $ 548,876 $ 420,484 Cost of goods sold 330,423 266,587 Gross profit 218,453 153,897 Selling expenses 77,940 58,027 Administrative expenses 49,399 37,003 Total expenses 127,339 95,030 Income before taxes 91, 114 58,867 Income taxes 16,947 12,068 Net income $ 74,167 $ 46,799 2015 $ 291,800 186,752 105,048 38,518 24,219 62,737 42,311 8,589 $ 33,722 2016 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017...
Quick Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2.700) Income from operations 1,850 1.750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents 300 500 Accounts receivable 900 800 Inventory...
Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost of goods sold (5,500) (5,200) Gross profit 4,650 4,450 Selling and administrative expenses (2,800) (2,700) Income from operations 1,850 1,750 Interest expense (300) (250) Income before income taxes 1,550 1,500 Income tax expense (420) (400) Net income 1,130 1,100 300 500 Smith and Sons, Inc. Balance Sheet (in millions) 2016 2015 Assets Current assets Cash and cash equivalents Accounts receivable 900 800 Inventory...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years Ended December 31, 2016 and 2015 2016 2015 $10,000 $ 9,500 (in millions) (,500) (5.2 5,20 Net sales.. 4,500 4,300 2,800) (2.700 1,700 1,600 (300) (250) 1,400 1,350 (420) (400 $ 980 $ 950 . . . . Gross profit Selling and administrative expenses Income from operations. . Interest expense. Income before income taxes . .. Income tax expense. Net income.. SMITH & SONS,...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Eamings before interest and taxes (EBIT) Interest expense $634 170 $464 Pretax income Taxes 162 Net income $302 Dividends 75 Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment...
Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) 2016 2015 2014 Net Sales $14,095 $13,110 $12,166 Credit card revenues 342 396 374 Total revenues 14,437 13,506 12,540 Cost of sales and related buying and occupancy costs (9,168) (8,406) (7.737) Selling, general and administrative expenses (4,168) (3,777) (3,453) Earnings before interest and income taxes 1,101 1,323 1,350 Interest expense, net (125) (138) (161) Earnings before income taxes 976 1,185 1,189 Income tax expense (376) (465) (455) Net...
Ratios
2016
2015
a.
Gross profit margin (%)
39.4
39.1
b.
Operating profit margin (%)
5.1
7.5
c.
Net profit margin (%)
2.4
4.0
d.
Return on shareholders' equity (%)
14.1
25.2
e.
Return on assets (%)
3.1
5.2
f.
Times interest earned coverage
3.6
5.6
g.
Long-term debt-to-equity ratio
1.5
3.8
h.
Days of inventory
126.2
121.8
i.
Inventory turnover ratio
2.9
3.0
j.
Average collection
period
7.4
7.5
1-From 2015 to 2016, Macy’s, Inc., return on equity and...
Glocal Inc.: December 31: Balance Sheets (Millions of Dollars) Assets 2015 2016 iabilities and Equity Cash and equivalents 2016 2015 290 300 Accounts Payable Notes Payable Accruals Short-term investments 170 50 60 50 Accounts Receivable Inventories 190 140 300 400 130 200 350 300 Current Liabilities Total Current Assets 490 390 1,000 1,050 Long-Term Bonds 600 400 Total Liabilities Preferred stock 1,090 790 Net Plant and Equipment 30 40 1,000 550 Common Stock 200 170 Retained Earnings Total Common Equity...
Sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Loss on sales of securities Income before interest and taxes Interest expense Income before taxes Income tax expense Net income Retained earnings, January 1, 2017 $542,825 (435,550) $107,275 $(65,830) (310) $41,135 (9,220) $31,915 (12,766) $19,149 58,615 $77,764 (12,149) $65,615 Dividends paid on common stock Retained earnings, December 31, 2017 December 31, 2016 Heartland Inc. Comparative Statements of Financial Position (thousands omitted) December 31, 2017 Assets Current assets:...
For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $ 548,876 $ 420,484 Cost of goods sold 330,423 266,587 Gross profit 218,453 153,897 Selling expenses 77,940 58,027 Administrative expenses 49,399 37,003 Total expenses 127,339 95,030 Income before taxes 91, 114 58,867 Income taxes 16,947 12,068 Net income $ 74,167 $ 46,799 2015 $ 291,800 186,752 105,048 38,518 24,219 62,737 42,311 8,589 $ 33,722 2016 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017...
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