The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement: Sales revenue $ 196,000 $ 168,500 Cost of goods sold 113,500 100,600 Gross profit 82,500 67,900 Operating expenses and interest expense 56,600 53,300 Pretax income 25,900 14,600 Income tax 8,600 4,300 Net income $ 17,300 $ 10,300 Balance sheet: Cash $ 4,600 $ 7,300 Accounts receivable (net) 14,300 18,300 Inventory 40,600 35,200 Property and equipment (net) 45,900 38,600 Total assets $ 105,400 $ 99,400 Current liabilities (no interest) $ 16,300 $ 17,300 Long-term liabilities (12% interest) 45,300 45,300 Common stock ($5 par value, 6,300 shares outstanding) 31,500 31,500 Retained earnings 12,300 5,300 Total liabilities and stockholders' equity $ 105,400 $ 99,400 2. Compute the ratios in the DuPont model for Year 2. (Round your answers to 2 decimal places.) 2. Compute the ratios in the DuPont model for Year 2. (Round your answers to 2 decimal places.)
The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement: Sales...
The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement: Sales revenue $ 191,000 $ 168,500 Cost of goods sold 112,900 100,300 Gross profit 78,100 68,200 Operating expenses and interest expense 57,000 54,000 Pretax income 21,100 14,200 Income tax 6,330 4,260 Net income $ 14,770 $ 9,940 Balance sheet: Cash $ 4,600 $ 5,200 Accounts receivable (net) 14,600 17,500 Inventory 41,200 32,800 Property and equipment (net) 45,700 37,000 Total assets $ 106,100 $ 92,500 Current...
The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense $190,000 112,000 $167,000 100,000 67,000 53,000 14,000 4,000 10,000 78,000 56,000 Pretax income 22,000 8,000 14,000 Income tax Net income Balance sheet: $ 4,000 14,000 40,000 ,000 $103,000 $ 16,000 Cash Accounts receivable (net 7,000 18,000 34,000 38,000 97,000 Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities...
The comparative financial statements for Prince Company are below: Year 2 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (10% interest) Common stock (S5 par value, 6,480 shares outstanding)) Retained earnings Total liabilities and stockholders' equity $ 214,000 118,000 96,000 58,400 37,600 10,400 $ 173,000 102,400 70,600 54,200...
[The following information applies to the questions displayed below.] The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement: Sales revenue $190,000 112,000 78,000 56,000 22,000 8,000 $167,000 100,000 67,000 53,000 14,000 4,000 $10,000 Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax $14,000 Net income Balance sheet: Cash Accounts receivable (net) Inventory 4,000 14,000 40,000 45,000 $ $7,000 18,000 34,000 38,000 $97,000 $ 17,000 45,000 30,000 5,000 97,000...
The comparative financial statements for Prince Company are below: Year 2 $220.ee 119.See 100. see 59.ece 00-1425 $174. See 103. Bea 71.se 54.se 17.000 5.See $ 11,500 11. eee $32. Sea Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net Income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (12 interest) Common stock ($8 par value, 4, 125...
Required information The following information applies to the questions displayed below.] The comparative financial statements for Prince Company are below: Year 2 Year 1 $191,500 112,400 79,100 57,700 21,400 6,420 $ 14,980 $167,300 102,000 65,300 54,700 10,600 3,180 $ 7,420 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 700,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock...
Part A Given below are comparative statement of financial positions and an income statement for the Bay Company: Bay Company Statement of Financial Positions at 31 December 2018 2017 Assets Current assets Cash Accounts receivable Inventory Current assets Equipment (net) Total assets $ 27,000 215,000 148.000 390,000 310,000 $700,000 $ 23,000 185,000 152.000 360,000 280,000 S640.000 Liabilities and Equity Current liabilities Accounts payable Interest payable Current liabilities Long-term loans Total liabilities $115,000 15.000 130,000 200.000 330,000 $126,000 12.000 138,000 150.000...
Chapter 4 Analysis of Financial Statements 141 Barry Computer Company: Income Statement for Year Ended December 31, 2019 (in Thousands) Sales Cost of goods sold $1,607,500 Materials $717,000 Labor 453,000 Heat, light, and power 68,000 Indirect labor 113,000 Depreciation 41,500 1,392,500 Gross profit $ 215,000 Selling expenses 115,000 General and administrative expenses 30,000 Earnings before interest and taxes (EBIT) 70,000 Interest expense 21,000 Earnings before taxes (EBT) 49,000 Federal and state income taxes (25%) 12,250 Net income $ 36,750 Earnings...