Homework Answers
| Company | Sales | COGS | Gross Profit | Operating expenses | Net Income |
| Lennon | 8800 | 4400 | 4400 | 2,800 | 1600 |
| Harrison | 8900 | 3300 | 5600 | 1,600 | 4000 |
| McCarthey | 8000 | 3300 | 4700 | 3,200 | 1500 |
| Starr | 7200 | 1300 | 5900 | 2,800 | 3,100 |
| COGS = Sales- Gross Profit(8800-4400) | 4400 | ||||
| Gross Profit= Sales- COGS(8900-3300) | 5600 | ||||
| Operating Expenses=Gross Profit-Net Income(4700-1500) | 3200 | ||||
| Net Income=Gross Profit-Operating Expenses(5900-2800) | 3100 |
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For each company, calculate the missing amount. Company Net Income $ $ Sales 8,800 8,900 8,000 7,200 Operating Expe...
For each company, calculate the missing amount. Company Sales Cost of Goods Sold $ Lennon Harrison McCartney Starr 8,90...
For each company, calculate the missing amount. Company Sales Cost of Goods Sold $ Lennon Harrison McCartney Starr 8,900 8,000 8,400 7,800 Gross Operating Net Profit Expenses Income $ 4,400 $ 2,100 $ 2,300 1,500 3,100 5,100 2,000 5,900 2,100 3,400 3,300 1,900
For each company, calculate the missing amount. Company Cost of Goods Sold Net Income GrOSS Profit...
For each company, calculate the missing amount. Company Cost of Goods Sold Net Income GrOSS Profit $ 6,100 Lennon Harrison McCartney $ Sales Revenue $ 14,2007 14,300 9.200 12. 200 Operating Expenses $ 2,550 4.100 3,550 1.100 9,100 7.100 4,100 2.100 8,100 Starr 5 ,550
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expens...
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expenses Sold $1,000 4,000 2,000 $3,000 $8,000 9,000 8,000 8,000 $4,000 Lennon 2,000 3,000 3,000 3,000 Harrison McCartney Starr 5,000 3,000 5,000 45) Beasley Inc., reports the following amounts in its December 31, 2018, income statement Sales Income tax revenue $300,000 expense Interest expense12,000 sold Salaries expense $38,000 Cost...
Missing Income Statement Amounts For each of the following cases, fill in the blank with the...
Missing Income Statement Amounts For each of the following cases, fill in the blank with the appropriate dollar amount. Sara's Coffee Shop Amy's Deli Jane's Bagels $46,100 $101,400 Net sales Cost of goods sold Gross profit Selling expenses General and administrative expenses Total operating expenses 32,700 9,200 4,000 1,900 50,300 11,700 8,000 24,600 $25,700 20,800 Net income $3,300 $29,900
The balance sheet and income statement for the A. Thiel Mfg. Company are as follows. Calculate...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows. Calculate the ratios at the
bottom.
Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owners' equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating...
(Calculating financial ratios) The balance sheet and income statement for the J·P. Robard Mig. Company are...
(Calculating financial ratios) The balance sheet and income statement for the J·P. Robard Mig. Company are as follows:囲. Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity P. Robard Mfg., Inc. J. Balance Sheet ($000) $500 2,000 1,000 $3,500 4,500 $8,000 Cash Accounts receivable Inventories Current assets Net fixed assets Total assets Accounts payable Accrued expenses Short-term...
Please answer Supply the missing dollar amounts for the current year income statement of NexTech Company...
Please answer
Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. (Input all amounts as positive values.) Case D Case E Case A $ 920 Case B $ 810 320 Case C $ 590 Sales revenue Cost of goods sold 540 350 Gross margin 465 410 140 95 380 230 Selling expense Administrative expense 140 T 100 120 110 Pretax income 205 200 170 Income tax expense 40...
1 A classified Income statement showed net sales of $445,000, cost of goods sold of $190,000,...
1 A classified Income statement showed net sales of $445,000, cost of goods sold of $190,000, and total operating expenses of $167,000 for the fiscal year ended June 30, 2019. 1. What was the gross profit on sales? 2. What was the net income from operations? 1. Gross profit on sales 2. Net income from operations 2 A firm had merchandise Inventory of $39,000 on January 1, 2019. During the year the firm had purchases of $51,000, freight in of...
Matching astructions: Match each term with its description Record your final answer on the space provided...
Matching astructions: Match each term with its description Record your final answer on the space provided below. A. Raw materials B. Merchandise inventory C. Service companies E. Work-in-process inventory F. Finished goods G. Manufacturing companies Inventory items for which the manufacturing process is complete. been used in production cost of components that will become part of the finished product but have not yet than selling inventory. Companies that generate revenues by providing services to their customers rather Companies that produce...
YOUR COMPANY Income Statement For the year ended January 31, 2019 Sales revenue (net) 55,432 Cost...
YOUR COMPANY
Income Statement
For the year ended January 31, 2019
Sales revenue (net)
55,432
Cost of goods sold
-9,778
Gross profit
45,704
Operating expenses:
Selling expenses
2,598
General & administrative expenses
25,869
Depreciation expense
8,548
Total operating expenses
38,015
Operating Income
9,089
Other items:
Interest expense
-3,253
Loss on sale of equipment
625
3,878
Net Income
4,811
YOUR COMPANY
Statement of Cash Flows
For the year ended January 31st, 2019
Cash Flows from Operating Activities
Net Income
Adjustments for...
For each company, calculate the missing amount. Company Sales Cost of Goods Sold $ Lennon Harrison McCartney Starr 8,900 8,000 8,400 7,800 Gross Operating Net Profit Expenses Income $ 4,400 $ 2,100 $ 2,300 1,500 3,100 5,100 2,000 5,900 2,100 3,400 3,300 1,900
For each company, calculate the missing amount. Company Cost of Goods Sold Net Income GrOSS Profit $ 6,100 Lennon Harrison McCartney $ Sales Revenue $ 14,2007 14,300 9.200 12. 200 Operating Expenses $ 2,550 4.100 3,550 1.100 9,100 7.100 4,100 2.100 8,100 Starr 5 ,550
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expenses Sold $1,000 4,000 2,000 $3,000 $8,000 9,000 8,000 8,000 $4,000 Lennon 2,000 3,000 3,000 3,000 Harrison McCartney Starr 5,000 3,000 5,000 45) Beasley Inc., reports the following amounts in its December 31, 2018, income statement Sales Income tax revenue $300,000 expense Interest expense12,000 sold Salaries expense $38,000 Cost...
Missing Income Statement Amounts For each of the following cases, fill in the blank with the appropriate dollar amount. Sara's Coffee Shop Amy's Deli Jane's Bagels $46,100 $101,400 Net sales Cost of goods sold Gross profit Selling expenses General and administrative expenses Total operating expenses 32,700 9,200 4,000 1,900 50,300 11,700 8,000 24,600 $25,700 20,800 Net income $3,300 $29,900
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows. Calculate the ratios at the
bottom.
Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owners' equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating...
(Calculating financial ratios) The balance sheet and income statement for the J·P. Robard Mig. Company are as follows:囲. Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity P. Robard Mfg., Inc. J. Balance Sheet ($000) $500 2,000 1,000 $3,500 4,500 $8,000 Cash Accounts receivable Inventories Current assets Net fixed assets Total assets Accounts payable Accrued expenses Short-term...
Please answer
Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. (Input all amounts as positive values.) Case D Case E Case A $ 920 Case B $ 810 320 Case C $ 590 Sales revenue Cost of goods sold 540 350 Gross margin 465 410 140 95 380 230 Selling expense Administrative expense 140 T 100 120 110 Pretax income 205 200 170 Income tax expense 40...
1 A classified Income statement showed net sales of $445,000, cost of goods sold of $190,000, and total operating expenses of $167,000 for the fiscal year ended June 30, 2019. 1. What was the gross profit on sales? 2. What was the net income from operations? 1. Gross profit on sales 2. Net income from operations 2 A firm had merchandise Inventory of $39,000 on January 1, 2019. During the year the firm had purchases of $51,000, freight in of...
Matching astructions: Match each term with its description Record your final answer on the space provided below. A. Raw materials B. Merchandise inventory C. Service companies E. Work-in-process inventory F. Finished goods G. Manufacturing companies Inventory items for which the manufacturing process is complete. been used in production cost of components that will become part of the finished product but have not yet than selling inventory. Companies that generate revenues by providing services to their customers rather Companies that produce...
YOUR COMPANY
Income Statement
For the year ended January 31, 2019
Sales revenue (net)
55,432
Cost of goods sold
-9,778
Gross profit
45,704
Operating expenses:
Selling expenses
2,598
General & administrative expenses
25,869
Depreciation expense
8,548
Total operating expenses
38,015
Operating Income
9,089
Other items:
Interest expense
-3,253
Loss on sale of equipment
625
3,878
Net Income
4,811
YOUR COMPANY
Statement of Cash Flows
For the year ended January 31st, 2019
Cash Flows from Operating Activities
Net Income
Adjustments for...
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