wine depot inc.
Income Statement
for the period ended
december | 2020 | %sale | december | 2021 | %sale | %change | ||
sales | $375000 | 100 | 425000 | 100 | 13.33 | |||
less: cost of goods sold | 150000 | 40 | 191250 | 45 | 27.5 | |||
gross margin | 225000 | 60 | 233750 | 55 | 3.88 | |||
expenses | ||||||||
advertising | $8000 | 2.133 | $18250 | 4.29 | 128.125 | |||
marketing | 6000 | 1.6 | 3000 | .71 | -50 | |||
deperication | 9000 | 2.4 | 8000 | 1.88 | -11.11 | |||
interest | 3000 | 0.8 | 1500 | .35 | -50 | |||
salary | 52000 | 13.87 | 85000 | 20 | 63.46 | |||
wages | 18000 | 4.8 | 15000 | 3.53 | 16.667 | |||
supplies | 1200 | 0.32 | 7000 | 1.65 | 483.333 | |||
utilities | 2800 | 100000(26.67) | .75 | 8500 | 146250(34.41) | 2 | 202.57 | |
net income before taxes | 125000 | 33.33 | 87500 | 20.59 | -30 | |||
income tax | 37500 | 10 | 26250 | 6.18 | -30 | |||
net income | $87500 | 23.33 | 61250 | 14.41 | -30 | |||
wine depot
balance sheet as of
assets | december | 2020 | %assets | december | 2021 | %assets | %change |
current assets | |||||||
cash | $5000 | 5.05 | 7000 | 5.833 | 40 | ||
short term investment | 2000 | 2.02 | 3500 | 2.92 | 75 | ||
account receivable | 6000 | 6.06 | 8500 | 7.08 | 41.67 | ||
inventory | 6500 | 6.57 | 10500 | 8.75 | 61.54 | ||
prepaid expenses | 700 | 0.71 | 500 | .42 | -28.57 | ||
suuplies | 1800 | 22000 | 1.82 | 2300 | 32300 | 1.92 | 27.78 |
Equipments | 85000 | 103700 | |||||
Less deperication | 8000 | 77000 | 77.78 | 16000 | 87700 | 73.08 | 13.9 |
Total | 99000 | 100 | 120000 | 100 | 21.21 | ||
Liability and stock holders equilty | |||||||
liabilities | |||||||
current liabilities | |||||||
accounts payable | $16000 | 16.16 | $3000 | 2.5 | -81.25 | ||
income tax payable | 6000 | 6.06 | 1000 | 0.833 | -83.33 | ||
notes payable - equipments | 9000 | 9.09 | - | 0 | -100 | ||
notes payable - others | 18000 | 18.18 | 3000 | 2.5 | -83.33 | ||
payroll liabilities | 2000 | 51000 | 2.02 | 3750 | 10750 | 3.125 | 87.5 |
stockholders equilty | |||||||
common stock | 1000 | 1.01 | 1000 | .83 | 0 | ||
retained earning | 47000 | 48000 | 47.47 | 108250 | 109250 | 90.21 | 130.32 |
total | $99000 | 100 | $120000 | 100 | 21.21 | ||
wine depot inc.
ratio analysis
december 2021
Profitability ratio
return on owners investment = net income/shareholders equity = 61250/109250 = 0.56
return on total investment = return before interest and tax / total assets = 89000/120000 = 0.74
profit margin = net income/net sale = 61250/425000 = 0.144
gross margin = gross profit/ net sale = 233750/425000 = 0.55
liquidity ratio
current ratio = current assets/current liability = 32300/10750 = 3.00465
quick ratio = current assets - stock / current liability = 19000/10750 = 1.77
average receivable = opening receivable + closing receivable / 2 = 6000+8500/2 = 7250
receivable turnover ratio = netsale/ average receivable = 425000/7250 = 58.62
inventory turnover= cogs/average stock = 191250/8500 = 22.5
average stock = opening stock + closing stock / 2 = 6500+10500/2 = 8500
solvency ratio
debt to equity = total liability / total share holder equity = 10750/109250 = 0.098
liability ratio = total liability / total assets = 10750/120000 = 0.0896
ch3-04 student_name.xis (h Print each completed worksheet in Vallle printed in the lower left footer and...
Number Font Al XV Wine Depot, Inc G HI Wine Depot Inc. Income Statennt for the period ended December-2020 %Sales December-2021 %Sales %Change 6 Sales 7 Less: Cost of Goods Sold 8 Gross Margin 9 Expenses: 10 Advertising 11 Marketing 12 Depreciation 13 Interest 14 Salary 15 Wages s 375,000 150,000 225,000 S 425,000 191,250 S 8,000 6,000 9,000 3,000 52,000 18,000 1,200 s 18,250 3,000 8,000 1,500 85,000 15,000 7,000 Supplies 17 Utilities 18 Net income before taxes 19...
2020; and a ch3-03 student ame. printed in the lower left footer and the HI footer Print each completed worksheet in Chapter 3 Case Problem 1: KELLY'S BOUTIQUE ou are to create Kelly's Boutique's financial analyses as of D You file ch3-04 xls to create a vertical and horizontal analysis l compare December 31, 2018, with December 31 chart of expenses for the years ended December 31, 2018, and Dec December 31, examples, use the of the balance 2019.) Also...
The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,300 76,300 11,199 11, 100 8,300 5,109 3,200 9,000 1,500 7,500 107,500 107,500 2,150 11,180 11,100 107,180 107,100 6,300 6,300 117,100 117,109 5,100 5,180 1,500 1,500 2,150 2,150 15,900 15,900 980 900 235,300...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...
can you help me with the T account, income statement,Balance
sheet, earnings per share and Owners equity table . for the Year
2021. i added the info for the year 2020 to help
Do
not worry about the question in the text, i just need help with the
income statement2021, Balance sheet 2021, Taccount 2021, eps and
owner equity 2021. the first pocture are juste the info for
2020
1,000 Assets Current Assets Cash Inventory Total Current Assets 35,400 36,400...
Following is a partially completed balance sheet for Hoeman Inc. at December 31, 2020, together with comparative data for the year ended December 31, 2019. From the statement of cash flows for the year ended December 31, 2020, you determine the following Net income for the year ended December 31, 2020, was $98,500. Dividends paid during the year ended December 31, 2020, were $65,500. .Accounts receivable decreased $13,500 during the year ended December 31, 2020. The cost of new buildings...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...
The following information is
taken from the 2020 annual report of Wildhorse, Inc. Wildhorse’s
fiscal year ends December 31 of each year. Wildhorse’s December 31,
2020, balance sheet is as follows.
Wildhorse,
Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of
discount)
$1,426
Stockholders’
equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...
Following is a partially completed balance sheet for Hoeman Inc. at December 31, 2020, together with comparative data for the year ended December 31, 2019. From the statement of cash flows for the year ended December 31, 2020, you determine the following: • Net income for the year ended December 31, 2020, was $98,500. • Dividends paid during the year ended December 31, 2020, were $66,500. • Accounts receivable decreased $11,000 during the year ended December 31, 2020. • The...