Homework Answers
Times interest earned ratio= EBIT/Interest expense
2015
= 1750/250
= 7
2016
= 1850/300
= 6.17
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Times-Interest-Earned Ratio Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,150 9,650 Cost o...
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...
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit...
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit 4,900 4,700 Selling and administrative expenses (2,800) (2,700) Income from operations 2,100 2,000 Interest expense (300) (250) Income before income taxes 1,800 1,750 Income tax expense (420) (400) Net income 1,380 1,350 Smith and Sons, Inc. Balance Sheet 2016 2015 (in millions) Assets Current assets Cash and cash equivalents 550 750 Accounts receivable 900 800 Inventory 850 1,000 Other current assets 400 250 Total...
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,...
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...
$3.806 Woodlands Inc. 2015 Income Statement ($ 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...
Smith Co (in $ millions) Williams Co (in $ millions) Sales $13,800 $7,500 Cost of goods...
Smith Co (in $ millions) Williams Co (in $ millions) Sales $13,800 $7,500 Cost of goods sold 10,600 5,400 Cash 30,000 3,600 Marketable securities 500 100 Accounts receivable 35,000 6,500 All other current assets 50,000 8,500 Total current liabilities 65,000 25,000 Total liabilities 236,000 15,100 Total equity 75,000 22,000 Pre-tax income 3,900 6,200 Interest expense 1,800 100 Average accounts receivable 345 50 Average inventory 2,525 900 Average total assets 6,200 2,500 (Smith Co. is Column A, Williams Co. is...
5. Times interest earned ratio. (Round your answer to 2 decimal places.) Times interest earned ratio...
5. Times interest earned ratio. (Round your answer to 2 decimal places.) Times interest earned ratio 6. Average collection period. (Use 365 days in a year. Round your answer to 1 decimal place.) Average collection period days 7. Average sale period. (Use 365 days in a year. Round your intermediate and final answer to 1 decimal place.) Average sale period days Operating cycle. (Round your intermediate calculations and final answers to 1 decimal place.) Operating cycle The financial statements for...
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales 2875.0...
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales 2875.0 2500.0 Operating costs excluding 2372.0 2125.0 depreciation Depreciation and amortization 69.0 55.0 Earnings before interest and taxes 434.0 320.0 Less: Interest 62.0. 54.0 Pre-tax income 372.0 266.0 Taxes (40%). 148.8 106.4 Net Income available to common 223.2 159.6 stockholders Common dividends 201.0. 128.0 Rhodes Corporation Balance Sheet as of December 31 (Millions of Dollars) Assets Cash 40.0 35.0 Short-Term investments 15.0. 13.0 Accounts Receivable...
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...
(in millions) 2016 2015 Net sales 10,400 9,900 Cost of goods sold (5,500) (5,200) Gross profit 4,900 4,700 Selling and administrative expenses (2,800) (2,700) Income from operations 2,100 2,000 Interest expense (300) (250) Income before income taxes 1,800 1,750 Income tax expense (420) (400) Net income 1,380 1,350 Smith and Sons, Inc. Balance Sheet 2016 2015 (in millions) Assets Current assets Cash and cash equivalents 550 750 Accounts receivable 900 800 Inventory 850 1,000 Other current assets 400 250 Total...
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,...
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...
$3.806 Woodlands Inc. 2015 Income Statement ($ 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...
5. Times interest earned ratio. (Round your answer to 2 decimal places.) Times interest earned ratio 6. Average collection period. (Use 365 days in a year. Round your answer to 1 decimal place.) Average collection period days 7. Average sale period. (Use 365 days in a year. Round your intermediate and final answer to 1 decimal place.) Average sale period days Operating cycle. (Round your intermediate calculations and final answers to 1 decimal place.) Operating cycle The financial statements for...
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