Decker Enterprises Below are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating assets. All of Decker's current liabilities are operating liabilities. Income statement Current Projected Sales na 1,500 Costs na 1,050 Profit before tax na 450 Taxes na 135 Net income na 315 Dividends na 95 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 1,200 1,440 Long-term debt 300 360 Common stock 500 500 Retained earnings 430 650 If Decker had a financing deficit, it could remedy the situation by
Income statement | Current | Projected | ||||
Sales | na | 1,500 | ||||
Costs | na | 1,050 | ||||
Profit before tax | na | 450 | ||||
Taxes | na | 135 | ||||
Net income | na | 315 | ||||
Dividends | na | 95 | ||||
Balance sheets | Current | Projected | Current | Projected | ||
Current assets | 100 | 115 | Current liabilities | 70 | 81 | |
Net fixed assets | 1,200 | 1,440 | Long-term debt | 300 | 360 | |
Common stock | 500 | 500 | ||||
Retained earnings | 430 | 650 | Financing Surplus | |||
1555 | 1591 | 36 | ||||
If Decker had a financing deficit, it could remedy the situation by | ||||||
Borrowing on its line of credit, it can fill up its financing deficit. | ||||||
Note: From the given information, Decker has Financing surplus, which can be remedy by | ||||||
paying a special dividend. | ||||||
Decker Enterprises Below are the simplified current and projected financial statements for Decker Enterprises. All of...
6 (10 points). Newsome Inc. buys on terms of 3/15, net 45. It does not take the discount. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? 7 (1 0 points). Below Enterprises. All of Deck operating liabilities. are the simplified current and projected financial statements for Decker er's assets are operating assets. All of Decker's current liabilities are Income statement Curent Projected Sales Costs Profit before tax Taxeor tax1,0001,500 Net income...
Judd Enterprises These are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales na 1,000 Costs na 720 Profit before tax na 280 Taxes (25%) na 70 Net income na 210 Dividends na 63 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 900 1,080 Long-term debt 400 Common stock 300 Retained earnings 230 Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this...
є0nsider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Liabilities & Owners'Sal Assets 12728 Equity 2015 2014 2015 2014 Costs 5005 Current assets 968 961 Current liabilities 333 495 Depreciation 1065 Net fixed assets 3523 4044 Long-term debt 2052 2187 Interest 190 What is owners equity?
onsider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Liabilities & Owners' Equity Assets Sales 12124 2015 2014 2015 2014 Costs 5964 Current assets Current liabilities 901 936 339 438 Depreciation 1032 Net fixed assets 3814 4152 Long-term debt 2016 2201 Interest 100 In 2015, Parrothead Enterprises purchased $1139 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell?
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Assets Liabilities & Owners’ Equity Sales 12327 2015 2014 2015 2014 Costs 5947 Current assets 966 939 Current liabilities 319 485 Depreciation 1051 Net fixed assets 3790 4263 Long-term debt 2065 2114 Interest 105 If the tax rate is 34 percent, what is the cash flow from assets for the year?
onsider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Liabilities& Owners' Equity Assets 12916 2015 2014 2015 2014 Costs 5036 Current assets Current liabilities 931 932 397 409 Depreciation 1087 Net fixed assets 3546 4414 Long-term debt 2035 2197 Interest 139 If the tax rate is 32 percent, what is the cash flow from assets for the year?
Consider the following abbrevilated financial statements for Pacrotbead Enterprises PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Liabilities & Owners' Equity Assets Sales 12949 2015 2014 2015 2014 Costs 5347 Current assets 902 909 Current 384 436 Depreciation 1038 liabilities Net fixed assets 3542 4193 Long-term debt 2040 2191 Interest 184 During 2015, Parrothead Enterprises raised $411 in new long-term debt. What is the cash flow to creditors
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Consider the following abbreviated financial statements for Rarrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2015 Income Statement Liabilities &Owners'Sales Assets 12590 2015 2014 2015 2014, Costs 5594 Current assets 03900abilities 325 408 Depreciation 1035 Net fixed assets 3642 4138 Long-term debt 2019 2135 Interest 166 What is the change in net working capital for 2015?
Comparative financial statements for Bent Stew Enterprises are shown below: December 31 2014 2013 Assets Current assets: Cash $ 3,000 $ 800 Accounts receivable 8,500 6,000 Inventory 12,000 8,200 Prepaid expenses 1,400 900 Total current assets 24,900 15,900 Property, plant, and equipment, net 103,600 123,300 Intangible assets, net 64,000 47,000 Total assets $192,500 $186,200 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 11,000 $ 12,000 Other current liabilities 11,800 3,200 Total current liabilities 22,800 15,200 Long-term debt 120,000 128,000...