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Cost of goods sold: Investment income: $234,000 $ 2,680 $ 397,000 S 92,000 $ 7,400 $ 12,000 4% Net sales: Operating...
You are given the following information for Smashville, Inc. Cost of goods sold: Investment income: Net...
You are given the following information for Smashville, Inc. Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: $164,000 $ 1,200 $ 318,000 $ 71,000 $ 7,400 $ 3,200 35% Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 42,000 $ 21,000 $ 102,000 $ 36,000 $ 150,000 $ 11,000 $ 32,000 $ 64,000 During the year, Smashville, Inc., had 17,000 shares of stock outstanding and depreciation expense...
You are given the following information for Smashville, Inc. Cost of goods sold: $ 184,000 Investment...
You are given the following information for Smashville, Inc. Cost of goods sold: $ 184,000 Investment income: $ 1,600 Net sales: $ 387,000 Operating expense: $ 88,000 Interest expense: $ 7,400 Dividends: $ 6,000 Tax rate: 30 % Current liabilities: $ 12,000 Cash: $ 21,000 Long-term debt: $ 32,000 Other assets: $ 40,000 Fixed assets: $ 125,000 Other liabilities: $ 5,000 Investments: $ 36,000 Operating assets: $ 64,000 During the year, Smashville, Inc., had 17,000 shares of stock outstanding and...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other Income Income taxes...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other Income Income taxes Net Income Target Wal-Mart (1/31/22) (1/31/22) Income Statement Data for Year $78,000 $420,000 54,600 310,900 19,500 88,200 780 2,100 204,300 B, 120 $ 2.041 S 15.080 1.099 Current assets Noncurrent assets Tatal assets Current liabilities Long-term liabilities Tatal stockhalders' equity Tatal liabilities and stockholders' equity Target Wal-Mart Balance Sheet Data (End of Year) $20,160 $ 47,520 28,000 121,000 $48,160 $168,520 $12,000 $ 54.000 21,712...
Sandhill Co. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods...
Sandhill Co. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold $2,225,500 1,010,000 900,000 81,000 Selling and administrative expenses Interest expense Income tax expense 73,500 Net income $ 161,000 Sandhill Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,100 Debt investments 83,000 Accounts receivable (net) 169,600 Inventory 206,300 Total current assets 515,000 Plant assets (net) 573,500 Total assets $ 1,088,500 Liabilities and Stockholders' Equity PLUUUUU Liabilities and Stockholders' Equity Current liabilities...
11) Milton, Inc. provides the following income statement for 2019: Net Sales Cost of Goods Sold...
11) Milton, Inc. provides the following income statement for 2019: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Loss on Sale of Capital Assets Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income $240,000 110,000 $130,000 operason 45,000 12,000 57,000 $73,000 (25,000) (1000 (26,000) $47,000 5000 $42,000 Calculate the times-interest-earned ratio. (Round your answer to two decimal places.)...
Quarles Industries had the following operating results for 2015: sales = $30,660; cost of goods sold...
Quarles Industries had the following operating results for 2015: sales = $30,660; cost of goods sold = $20,260; depreciation expense = $5,660; interest expense = $3,090; dividends paid = $1,950. At the beginning of the year, net fixed assets were $17,480, current assets were $5,960, and current liabilities were $3,575. At the end of the year, net fixed assets were $21,160, current assets were $7,180, and current liabilities were $4,100. The tax rate for 2015 was 30 percent. a....
Quarles Industries had the following operating results for 2015: sales = $28,860; cost of goods sold...
Quarles Industries had the following operating results for 2015: sales = $28,860; cost of goods sold = $19,510; depreciation expense = $5,060; interest expense = $2,340; dividends paid = $1,200. At the beginning of the year, net fixed assets were $17,130, current assets were $5,810, and current liabilities were $3,320. At the end of the year, net fixed assets were $20,410, current assets were $7,360, and current liabilities were $3,930. The tax rate for 2015 was 34 percent. a....
Cardinal Industries had the following operating results for 2018: Sales = $34,116; Cost of goods sold...
Cardinal Industries had the following operating results for 2018: Sales = $34,116; Cost of goods sold = $24,114; Depreciation expense = $5,977; Interest expense = $2,700; Dividends paid = $1,978. At the beginning of the year, net fixed assets were $19,920, current assets were $7,040, and current liabilities were $3,980. At the end of the year, net fixed assets were $24,484, current assets were $8,672, and current liabilities were $4,655. The tax rate for 2018 was 25 percent. a. What...
CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $488,000 Cost of goods sold...
CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89,100 126,700 Income before taxes 47,300 Income taxes expense 17,300 Net income $ 30,000 CRUZ, INC. Comparative Balance Sheets December 31, 2017 | 2017 2016 _ Assets Cash $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200 Total current assets 227,000 175,000 Furniture 109,000 119,000 Accum....
You are given the following information for Smashville, Inc. Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: $164,000 $ 1,200 $ 318,000 $ 71,000 $ 7,400 $ 3,200 35% Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 42,000 $ 21,000 $ 102,000 $ 36,000 $ 150,000 $ 11,000 $ 32,000 $ 64,000 During the year, Smashville, Inc., had 17,000 shares of stock outstanding and depreciation expense...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other Income Income taxes Net Income Target Wal-Mart (1/31/22) (1/31/22) Income Statement Data for Year $78,000 $420,000 54,600 310,900 19,500 88,200 780 2,100 204,300 B, 120 $ 2.041 S 15.080 1.099 Current assets Noncurrent assets Tatal assets Current liabilities Long-term liabilities Tatal stockhalders' equity Tatal liabilities and stockholders' equity Target Wal-Mart Balance Sheet Data (End of Year) $20,160 $ 47,520 28,000 121,000 $48,160 $168,520 $12,000 $ 54.000 21,712...
Sandhill Co. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold $2,225,500 1,010,000 900,000 81,000 Selling and administrative expenses Interest expense Income tax expense 73,500 Net income $ 161,000 Sandhill Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,100 Debt investments 83,000 Accounts receivable (net) 169,600 Inventory 206,300 Total current assets 515,000 Plant assets (net) 573,500 Total assets $ 1,088,500 Liabilities and Stockholders' Equity PLUUUUU Liabilities and Stockholders' Equity Current liabilities...
11) Milton, Inc. provides the following income statement for 2019: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Loss on Sale of Capital Assets Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income $240,000 110,000 $130,000 operason 45,000 12,000 57,000 $73,000 (25,000) (1000 (26,000) $47,000 5000 $42,000 Calculate the times-interest-earned ratio. (Round your answer to two decimal places.)...
Cardinal Industries had the following operating results for 2018: Sales = $34,116; Cost of goods sold = $24,114; Depreciation expense = $5,977; Interest expense = $2,700; Dividends paid = $1,978. At the beginning of the year, net fixed assets were $19,920, current assets were $7,040, and current liabilities were $3,980. At the end of the year, net fixed assets were $24,484, current assets were $8,672, and current liabilities were $4,655. The tax rate for 2018 was 25 percent. a. What...
CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89,100 126,700 Income before taxes 47,300 Income taxes expense 17,300 Net income $ 30,000 CRUZ, INC. Comparative Balance Sheets December 31, 2017 | 2017 2016 _ Assets Cash $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200 Total current assets 227,000 175,000 Furniture 109,000 119,000 Accum....
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