Use the following financial statement information available for Jones Corporation 2012 &nb
Use the following financial statement information available for Jones Corporation
2012 2011
Net sales $784,000 $697,000
Cost of goods sold 406,000 377,000
Net income 112,000 80,000
Tax expense 48,000 29,000
Interest expense 14,000 14,000
(a) The net profit margin ratio for Jones Corporation for 2012 is:
(b) The net profit margin ratio for Jones Corporation for 2011 is:
(c) The gross profit margin ratio for Jones Corporation for 2012 is:
Homework Answers
| Calculations | Particulars | 2012 | 2011 |
| A | Net Sales | 784000 | 697000 |
| B | Cost of goods sold | 406000 | 377000 |
| C = A - B | Gross Profit | 378000 | 320000 |
| D | Net Income | 112000 | 80000 |
| E = D / A x 100 | Net profit margin | 14.29% | 11.48% |
| F = C / A x 100 | Gross Profit margin | 48.21% | 45.91% |
(a) The net profit margin ratio for Jones Corporation for 2012 is: 14.29%
(b) The net profit margin ratio for Jones Corporation for 2011 is: 11.48%
(c) The gross profit margin ratio for Jones Corporation for 2012 is: 48.21%
Add Answer to:
Use the following financial statement information available for
Jones Corporation
2012
&nb
26) The following financial statement information is available for Dubai Corporation: 2020 2019 Inventory $ 44,000...
26) The following financial statement information is available for Dubai Corporation: 2020 2019 Inventory $ 44,000 $ 43,000 Current assets 80,000 106,000 Total assets 432,000 358,000 Current liabilities 25,000 36,000 Total liabilities 102,000 88,000 The current ratio for 2020 is a. .31:1. b. 3.2:1. c. 1.5:1. d. 4.24:1. 27) The following financial statement information is available for Rahim Corporation: 2020 2019 Net sales $1,780,000 $697,000 Cost of goods sold 406,000 377,000 Net income 520,000 80,000 Tax expense 48,000 29,000 Interest...
Use the following financial statement information as of the end of each year to answer this...
Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,000 $48,000 Current assets 81,000 106,000 392,000 336,000 Total assets Current liabilities 27,000 36,000 Total liabilities Stockholders' equity 102,000 88,000 290,000 248,000 784,000 697,000 306,000 277,000 Net sales Cost of goods sold Net income 34,000 90,000 Tax expense 22,000 18,000 Interest expense 12,000 12,000 Dividends paid to preferred stockholders 2,000 2,000 Dividends paid to common shareholders 1,000 1,000 Compute the...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 22,000 Accounts payable $ 127,000 Accounts receivable 81,100 Bonds payable (long term) 85,600 Inventory 50,000 Long-Term Assets Stockholders' Equity Gross fixed assets $ 526,000 Common stock $ 150,000 Less: Accumulated depreciation 150,700 Paid-in capital 70,000 Net fixed assets* 375,300 Retained earnings 95,800 Total assets $ 528,400 Total liabilities and equity $ 528,400 Sales (on credit) $ 1,326,000 Cost of goods sold 790,000...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 22,000 Accounts payable $ 127,000 Accounts receivable 81,100 Bonds payable (long term) 85,600 Inventory 50,000 Long-Term Assets Stockholders' Equity Gross fixed assets $ 526,000 Common stock $ 150,000 Less: Accumulated depreciation 150,700 Paid-in capital 70,000 Net fixed assets* 375,300 Retained earnings 95,800 Total assets $ 528,400 Total liabilities and equity $ 528,400 Sales (on credit) $ 1,326,000 Cost of goods sold 790,000...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable nven $123,300 Accounts payable $176,000 89,600 183,600 56,800 Bonds payable (long term) Long-Term Assets Stockholders' Equity Gross fixed assets $554,000 152,300 $150,000 70,000 279,800 $765,400 Total labilities and equity $765,400 Common stock Less: Accumulated depreciation Net fixed assets Paid-in capital 401,700 Retained earnings Total assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,255,000 678,000 577,000 355,000 nse...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012 Income 2013 Income Statement as Statement as Statement Sales Reported Totals Reported 10.000.000 Cost of Goods Sold 12.500.000 13.000.000 6,200,000 Gross Profit 7.250.000 8,060,000 3,800,000 5.250.000 4,940,000 Operating Expenses 2,100,000 2.835.000 2.519.000 Income from Operations 1.700.000 2.415.000 2,421,000 Non-Operating Items (220.000) (170.000) [250.000) Income from Continuing Operations 1,480,000 2.245.000 2,171,000 Income Tax Expense 296,000 561.000 478.000 Net Income 1,184,000 1,684,000 1,693.000 During 2013, Lehman...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 25,900 Accounts payable $ 149,000 Accounts receivable 81,500 Bonds payable (long term) 80,300 Inventory 51,800 Long-Term Assets Stockholders' Equity Gross fixed assets $ 514,000 Common stock $ 150,000 Less: Accumulated depreciation 155,900 Paid-in capital 70,000 Net fixed assets* 358,100 Retained earnings 68,000 Total assets $ 517,300 Total liabilities and equity $ 517,300 Sales (on credit) $ 1,347,000 Cost of goods sold 790,000...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 123,300 Accounts payable $ 176,000 Accounts receivable 183,600 Bonds payable (long term) 89,600 Inventory 56,800 Long-Term Assets Stockholders' Equity Gross fixed assets $ 554,000 Common stock $ 150,000 Less: Accumulated depreciation 152,300 Paid-in capital 70,000 Net fixed assets* 401,700 Retained earnings 279,800 Total assets $ 765,400 Total liabilities and equity $ 765,400 Sales (on credit) $ 1,255,000 Cost of goods sold 678,000...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory $ 122,700 Accounts payable 80,700 52,600 s 106,000 89,300 Bonds payable (long term) Long-Term Assets Stockholders' Equity 565,000 154,900 s 150,000 70,000 250,800 $ 666,100 Gross fixed assets Common stock Paid-in capital Less: Accumulated depreciation Net fixed assets 410.100 Retained earnings $ 666,100 Total assets Total liabilities and equity Sales (on credit) Cost of goods sold Gross proft Selling and administrative...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory $ 25,800 Accounts payable S188,000 80,400 88,700 54,200 Bonds payable (long term) Long-Term Assets Stockholders' Equity $578,000 153,900 Gross fixed assets Common stock $150,000 70,000 104,400 $592,800 Less: Accumulated Paid-in capital 424,100 Retained earnings $592,800 Net fixed assets* Total assets Total liabilities and equity Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,717,000 782,000 $935,000 283,000 nse...
26) The following financial statement information is available for Dubai Corporation: 2020 2019 Inventory $ 44,000 $ 43,000 Current assets 80,000 106,000 Total assets 432,000 358,000 Current liabilities 25,000 36,000 Total liabilities 102,000 88,000 The current ratio for 2020 is a. .31:1. b. 3.2:1. c. 1.5:1. d. 4.24:1. 27) The following financial statement information is available for Rahim Corporation: 2020 2019 Net sales $1,780,000 $697,000 Cost of goods sold 406,000 377,000 Net income 520,000 80,000 Tax expense 48,000 29,000 Interest...
Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,000 $48,000 Current assets 81,000 106,000 392,000 336,000 Total assets Current liabilities 27,000 36,000 Total liabilities Stockholders' equity 102,000 88,000 290,000 248,000 784,000 697,000 306,000 277,000 Net sales Cost of goods sold Net income 34,000 90,000 Tax expense 22,000 18,000 Interest expense 12,000 12,000 Dividends paid to preferred stockholders 2,000 2,000 Dividends paid to common shareholders 1,000 1,000 Compute the...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable nven $123,300 Accounts payable $176,000 89,600 183,600 56,800 Bonds payable (long term) Long-Term Assets Stockholders' Equity Gross fixed assets $554,000 152,300 $150,000 70,000 279,800 $765,400 Total labilities and equity $765,400 Common stock Less: Accumulated depreciation Net fixed assets Paid-in capital 401,700 Retained earnings Total assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,255,000 678,000 577,000 355,000 nse...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012 Income 2013 Income Statement as Statement as Statement Sales Reported Totals Reported 10.000.000 Cost of Goods Sold 12.500.000 13.000.000 6,200,000 Gross Profit 7.250.000 8,060,000 3,800,000 5.250.000 4,940,000 Operating Expenses 2,100,000 2.835.000 2.519.000 Income from Operations 1.700.000 2.415.000 2,421,000 Non-Operating Items (220.000) (170.000) [250.000) Income from Continuing Operations 1,480,000 2.245.000 2,171,000 Income Tax Expense 296,000 561.000 478.000 Net Income 1,184,000 1,684,000 1,693.000 During 2013, Lehman...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory $ 122,700 Accounts payable 80,700 52,600 s 106,000 89,300 Bonds payable (long term) Long-Term Assets Stockholders' Equity 565,000 154,900 s 150,000 70,000 250,800 $ 666,100 Gross fixed assets Common stock Paid-in capital Less: Accumulated depreciation Net fixed assets 410.100 Retained earnings $ 666,100 Total assets Total liabilities and equity Sales (on credit) Cost of goods sold Gross proft Selling and administrative...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory $ 25,800 Accounts payable S188,000 80,400 88,700 54,200 Bonds payable (long term) Long-Term Assets Stockholders' Equity $578,000 153,900 Gross fixed assets Common stock $150,000 70,000 104,400 $592,800 Less: Accumulated Paid-in capital 424,100 Retained earnings $592,800 Net fixed assets* Total assets Total liabilities and equity Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,717,000 782,000 $935,000 283,000 nse...
Most questions answered within 3 hours.
-
How would you train your employees to avoid risks of using
mobile devices?
asked 8 minutes ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 1 hour ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 1 hour ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 4 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 3 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 5 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 6 hours ago