Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
| ELKHARDT
LTD. Statement of Financial Position December 31 (in thousands) |
|||||||
| 2018 | 2017 | 2016 | |||||
| Assets | |||||||
| Current assets | |||||||
| Cash | $29 | $79 | $199 | ||||
| Accounts receivable | 898 | 706 | 502 | ||||
| Inventory | 1,198 | 798 | 498 | ||||
| Total current assets | 2,125 | 1,583 | 1,199 | ||||
| Property, plant, and equipment (net) | 4,124 | 3,777 | 3,168 | ||||
| Total assets | $6,249 | $5,360 | $4,367 | ||||
| Liabilities and Shareholders’ Equity | |||||||
| Liabilities | |||||||
| Current liabilities | $600 | $547 | $502 | ||||
| Non-current liabilities | 3,044 | 2,307 | 1,505 | ||||
| Total liabilities | 3,644 | 2,854 | 2,007 | ||||
| Shareholders’ equity | |||||||
| Common shares | 995 | 995 | 995 | ||||
| Retained earnings | 1,610 | 1,511 | 1,365 | ||||
| Total shareholders’ equity | 2,605 | 2,506 | 2,360 | ||||
| Total liabilities and shareholders’ equity | $6,249 | $5,360 | $4,367 | ||||
| ELKHARDT
LTD. Income Statement Year Ended December 31 (in thousands) |
||||||
| 2018 | 2017 | 2016 | ||||
| Sales (all on credit) | $4,473 | $4,009 | $3,602 | |||
| Cost of goods sold | 2,503 | 2,113 | 1,812 | |||
| Gross profit | 1,970 | 1,896 | 1,790 | |||
| Operating expenses | 1,436 | 1,475 | 1,498 | |||
| Income from operations | 534 | 421 | 292 | |||
| Interest expense | 191 | 129 | 70 | |||
| Income before income tax | 343 | 292 | 222 | |||
| Income tax expense | 86 | 73 | 56 | |||
| Net income | $257 | $219 | $166 | |||
Homework Answers
| 2016 | 2017 | 2018 | |
| Return on Shareholder's Equity | 7.0% | 9.0% | 10.1% |
Working: Return on Shareholder's Equity = Net Income / Average shareholder's Equity
2016 = $166/(($2360+$2360)/2) = 7.0%
2017 = $219/(($2506+$2360)/2) = 9.0%
2018 = $257/(($2605+$2506)/2) = 10.1%
Add Answer to:
Condensed statement of financial position and income statement data for Elkhardt Ltd. are shown below: ELKHARDT...
Condensed statement of financial position and income statement data for Elkhardt Ltd. are shown below: ELKHARDT...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
Condensed statement of financial position and income statement data for Sipacore Ltd. are shown below: SIPACORE...
Condensed statement of financial position and income statement
data for Sipacore Ltd. are shown below:
SIPACORE
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
Condensed statement of financial position and income statement data for Elkhardt Ltd. are shown below: ELKHARDT...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
HIROOLE LTD. Statement of Financial Position December 31 (in thousands) 2018 2017 2016 Assets Current assets...
HIROOLE LTD. Statement of Financial Position December 31 (in thousands) 2018 2017 2016 Assets Current assets Cash $30 $81 $200 Accounts receivable 907 698 504 Inventory 1,190 794 497 Total current assets 2,127 1,573 1,201 Property, plant, and equipment (net) 4,105 3,831 3,230 Total assets $6,232 $5,404 $4,431 Liabilities and Shareholders' Equity Liabilities Current liabilities $596 $553 $499 Non-current liabilities 3,047 2,303 1,508 Total liabilities 3,643 2,856 2,007 Shareholders' equity Common shares 999999999 Retained earnings 1,590 1,549 1,425 Total shareholders'...
the Answer is Not 102700-179800= -77100 2016 ELKHARDT CORPORATION Statement of Financial Position December 31 2018...
the Answer is Not 102700-179800= -77100
2016 ELKHARDT CORPORATION Statement of Financial Position December 31 2018 2017 Assets Current assets Cash $25,000 $19,900 Accounts receivable (net) 54,800 44,600 Inventory 100,000 85,200 Total current assets 179,800 149,700 Long-term investments 50,000 69,200 Property, plant, and equipment (net) 503,300 370,900 Total assets $733,100 $589,800 Liabilities and Shareholders' Equity Liabilities Current liabilities $84,100 $80,000 Non-current liabilities 154,200 84,400 Total liabilities 238,300 164,400 Shareholders' equity Common shares 331,400 300,200 Retained earnings 163,400 125,200 Total shareholders'...
Problem 14-5A Condensed statement of financial position and income statement data for Speedway Corporation follow: 2016...
Problem 14-5A Condensed statement of financial position and income statement data for Speedway Corporation follow: 2016 $17,900 48,100 63,700 129,700 SPEEDWAY CORPORATION Statement of Financial Position December 31 2018 2017 Assets Current assets Cash $25,200 $20,100 Accounts receivable (net) 55,300 45,300 Inventory 100,000 85,100 Total current assets 180,500 150,500 Long-term investments 57,500 69,700 Property, plant, and equipment (net) 498,900 371,800 Total assets $736,900 $592,000 Liabilities and Shareholders' Equity Liabilities Current liabilities $85,700 $79,600 Non-current liabilities 155,700 85,400 Total liabilities 241,400...
Comparative data from the statement of financial position of Benton Ltd. are shown below. 2018 2017...
Comparative data from the statement of financial position of
Benton Ltd. are shown below.
2018
2017
2016
Current assets
$1,524,000
$1,182,000
$1,218,000
Property, plant, and
equipment
3,155,000
2,786,000
2,843,000
Goodwill
83,000
93,000
-0-
Total
assets
$4,762,000
$4,061,000
$4,061,000
Using horizontal analysis, calculate the percentage of the
base-year amount, using 2016 as the base year. (Round
answers to 1 decimal place, e.g. 52.7%.)
2018
2017
2016
Current assets
%
%
%
Property, plant, and
equipment
%
%
%
Total assets
%...
question 1 Comparative data from the statement of financial position of Acoustart Ltd. are shown below....
question 1 Comparative data from the statement of financial position of Acoustart Ltd. are shown below. 2018 2017 2016 Current assets $1,538,000 $1,168,000 $1,224,000 Property, plant, and equipment 3,161,000 2,792,000 2,854,000 Goodwill 108,000 118,000 Total assets $4,807,000 $4,078,000 $4,078,000 Using horizontal analysis, calculate the percentage of the base-year amount, using 2016 as the base year. (Round answers to 1 decimal place, e.g. 52.796.) 2018 2017 2016 Current assets Property, plant, and equipment Total assets Using vertical analysis, calculate the percentage...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial Position December 31 Assets 2018 Cash $51,000 Accounts receivable 88,000 Inventory 177,000 Long-term investments 70,000 Equipment 280,000 Accumulated depreciation (66,000) Total assets $600,000 2017 $27,000 60,000 194,500 145,000 154,000 (34,000) $546,500 Liabilities and Shareholders' Equity Accounts payable $37,000 Bank loan payable 125,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 49,500 185,000 175,000 137,000 $546,500 Additional information: 1. Net...
Presented below is the condensed financial statements of Raleigh Airlines Ltd. for the year ended December...
Presented below is the condensed financial statements of Raleigh Airlines Ltd. for the year ended December 31, 2018. Consolidated Statement of Financial Position At December 31 (Stated in thousands of Canadian dollars) 2018 2017 Assets Currents Assets: Cash and Cash Equivalents 1185806 1147076 Marketable Securities 93771 226090 Total cash,cash equivalents and marketable securities 1279577 13732166 Restricted Cash 115615 109700 Accounts Receivable 145544 152492 Prepaid Expenses,Deposits and other 190242 138676 Inventory 39742 43045 1770720 1817079 Non Current Assets Property and Equipment...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
Condensed statement of financial position and income statement
data for Sipacore Ltd. are shown below:
SIPACORE
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
Condensed statement of financial position and income statement
data for Elkhardt Ltd. are shown below:
ELKHARDT
LTD.
Statement of Financial Position
December 31
(in thousands)
2018
2017
2016
Assets
Current assets
Cash
$29
$79
$199
Accounts receivable
898
706
502
Inventory
1,198
798
498
Total current assets
2,125
1,583
1,199
Property, plant, and equipment (net)
4,124
3,777
3,168
Total assets
$6,249
$5,360
$4,367
Liabilities and
Shareholders’ Equity
Liabilities
Current
liabilities
$600
$547
$502
Non-current
liabilities
3,044
2,307
1,505
Total liabilities...
HIROOLE LTD. Statement of Financial Position December 31 (in thousands) 2018 2017 2016 Assets Current assets Cash $30 $81 $200 Accounts receivable 907 698 504 Inventory 1,190 794 497 Total current assets 2,127 1,573 1,201 Property, plant, and equipment (net) 4,105 3,831 3,230 Total assets $6,232 $5,404 $4,431 Liabilities and Shareholders' Equity Liabilities Current liabilities $596 $553 $499 Non-current liabilities 3,047 2,303 1,508 Total liabilities 3,643 2,856 2,007 Shareholders' equity Common shares 999999999 Retained earnings 1,590 1,549 1,425 Total shareholders'...
the Answer is Not 102700-179800= -77100
2016 ELKHARDT CORPORATION Statement of Financial Position December 31 2018 2017 Assets Current assets Cash $25,000 $19,900 Accounts receivable (net) 54,800 44,600 Inventory 100,000 85,200 Total current assets 179,800 149,700 Long-term investments 50,000 69,200 Property, plant, and equipment (net) 503,300 370,900 Total assets $733,100 $589,800 Liabilities and Shareholders' Equity Liabilities Current liabilities $84,100 $80,000 Non-current liabilities 154,200 84,400 Total liabilities 238,300 164,400 Shareholders' equity Common shares 331,400 300,200 Retained earnings 163,400 125,200 Total shareholders'...
Problem 14-5A Condensed statement of financial position and income statement data for Speedway Corporation follow: 2016 $17,900 48,100 63,700 129,700 SPEEDWAY CORPORATION Statement of Financial Position December 31 2018 2017 Assets Current assets Cash $25,200 $20,100 Accounts receivable (net) 55,300 45,300 Inventory 100,000 85,100 Total current assets 180,500 150,500 Long-term investments 57,500 69,700 Property, plant, and equipment (net) 498,900 371,800 Total assets $736,900 $592,000 Liabilities and Shareholders' Equity Liabilities Current liabilities $85,700 $79,600 Non-current liabilities 155,700 85,400 Total liabilities 241,400...
Comparative data from the statement of financial position of
Benton Ltd. are shown below.
2018
2017
2016
Current assets
$1,524,000
$1,182,000
$1,218,000
Property, plant, and
equipment
3,155,000
2,786,000
2,843,000
Goodwill
83,000
93,000
-0-
Total
assets
$4,762,000
$4,061,000
$4,061,000
Using horizontal analysis, calculate the percentage of the
base-year amount, using 2016 as the base year. (Round
answers to 1 decimal place, e.g. 52.7%.)
2018
2017
2016
Current assets
%
%
%
Property, plant, and
equipment
%
%
%
Total assets
%...
question 1 Comparative data from the statement of financial position of Acoustart Ltd. are shown below. 2018 2017 2016 Current assets $1,538,000 $1,168,000 $1,224,000 Property, plant, and equipment 3,161,000 2,792,000 2,854,000 Goodwill 108,000 118,000 Total assets $4,807,000 $4,078,000 $4,078,000 Using horizontal analysis, calculate the percentage of the base-year amount, using 2016 as the base year. (Round answers to 1 decimal place, e.g. 52.796.) 2018 2017 2016 Current assets Property, plant, and equipment Total assets Using vertical analysis, calculate the percentage...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial Position December 31 Assets 2018 Cash $51,000 Accounts receivable 88,000 Inventory 177,000 Long-term investments 70,000 Equipment 280,000 Accumulated depreciation (66,000) Total assets $600,000 2017 $27,000 60,000 194,500 145,000 154,000 (34,000) $546,500 Liabilities and Shareholders' Equity Accounts payable $37,000 Bank loan payable 125,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 49,500 185,000 175,000 137,000 $546,500 Additional information: 1. Net...
Most questions answered within 3 hours.
-
Do we typically carry antibodies against the RH antigen in our
blood plasma?
asked 6 seconds from now -
One mole of oxygen gas is at a pressure of 5.90 atm and a
temperature of...
asked 3 minutes ago -
The primary side of a transformer has 935 turns and is connected
to 118 Volts A/C....
asked 1 minute ago -
This must be done in Java and it must contain a public static
void (string []args)...
asked 5 minutes ago -
An economy has a Cobb–Douglas production function:
Y=Kα(LE)1−αY=Kα(LE)1−α
The economy has a capital share of 0.30,...
asked 20 minutes ago -
60.0 mL of a silver chlorate solution with a concentration of
0.654 M is mixed with...
asked 24 minutes ago -
Asked if he has any regrets about the way he's handled the
coronavirus crisis so far,...
asked 36 minutes ago -
True or False?
Considering a door as a rigid body. Its angular motion happens
in a...
asked 39 minutes ago -
In
IUPAC naming, do we concider the prefix in alphabatizing?
In other words do we look...
asked 45 minutes ago -
If a trust has income required to be distributed of $11,500,
other amounts paid or required...
asked 1 hour ago -
The degree of ionization of a weak acid
____________________.
Select all that are True.
a) varies...
asked 1 hour ago -
Cereal for Breakfast. A cereal company claims
70% of Americans start the day with cereal for...
asked 1 hour ago