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The 2018 income statement of Adrian Express reports sales of $18,612,000, cost of goods sold of...
The 2021 Income statement of Adrian Express reports sales of $13,500,000, cost of goods sold of...
The 2021 Income statement of Adrian Express reports sales of $13,500,000, cost of goods sold of $7.696.000, and net Income of $1,520,000. Balance sheet Information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2820 2e21 2e2e Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 529.988 1.248. 1,648,808 4,728,889 $8,120,000 $ 688.888 9 20,00...
The 2018 income statement of Adrian Express reports sales of $14,400,000, cost of goods sold of...
The 2018 income statement of Adrian Express reports sales of $14,400,000, cost of goods sold of $8,387,500, and ret income of $1,550,000. Balance shoet infomation is provided in the following table ADRIAN EXPRESS Balance Sheets December 31 2018 and 2017 2018 2017 Assets Current assets Cash Accounts receivable Inventory Long-torm assets $ 550,000 1,300,000 1,700,000 4,750,000 S 710,000 950,000 1350,000 4.190.000 Total assets $8300,000 $7200,000 Labilicies and Stockholders Cument liabil0es Long-ens abiises Equity $1,970,000 2.250.000 1900.000 2.180,000 $1,610,000 2350.000 1900000...
The 2021 Income statement of Adrian Express reports sales of $20,310.000, cost of goods sold of...
The 2021 Income statement of Adrian Express reports sales of $20,310.000, cost of goods sold of $12.500,000. and net Income of $1,900,000. Balance sheet Information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2e20 Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Connon stock Retained earnings Total liabilities and stockholders' equity $ 900.00 $ 910,000 1,725, eee1 .175.000 2,175,08 1,625,000 5.ee8,688...
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...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000 6,827,760 360,000 8,400,000 5,900,000 248,000 Balance Sheet Information Current assets Long-term assets $ 1,600,000 2,200,000 $ 1,500,000 1,900,000 Total assets $ 3,800,000 $ 3,400,000 $ Current liabilities Long-term liabilities Common stock Retained earnings 1.200,000 1,500,000 800,000 300,000 900.000 1,500,000 800,000 200,000 Total liabilities and stockholders' equity 3,800,000 $ 3,400,000 Required: 1. Calculate the following profitability ratios for 2018 (Round your answers to 1 decimal...
The 2018 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...
The 2018 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $5.6 million, and net income of $840,000. The following table shows the company's comparative balance sheets for 2018 and 2017: 0182017 $460 540 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) 860 1,300 1,100 3,2002,920 $5,820 $5,140 Total assets Liabilities and shareholders equity Current liabilities Bonds payable Paid-in capital Retained earnings $1,120 990 1,600 1,600 1,800 1,800 1...
The following income statement and balance sheets for Virtual Gaming Systems are provided. Required: Assuming that...
The following income statement and balance sheets for Virtual
Gaming Systems are provided.
Required:
Assuming that all sales were on account, calculate the following
risk ratios for 2021. (Use 365 days a year. Round your
final answers to 1 decimal place.)
VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $2,986,000 Cost of goods sold 1,940,000 Gross profit 1,046,000 Expenses: Operating expenses $848,000 Depreciation expense 22,000 Loss on sale of land 7,000 Interest expense 10,000...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods s...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $65,300 45,000 14,000 660 $417,000 301,000 79,000 1,800 (85) (380) 1,500 4,055 7,100 $27,720 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders $16,000 27.400 $43,400 $11,000 17,800 14,600 $50,000 121,000 $171,000 $54,000 43,000 74,000 $171,000...
INCOME STATEMENT (Figures in $ millions) Net sales $ 12,600 Cost of goods sold 3,760 Other...
INCOME STATEMENT (Figures in $ millions) Net sales $ 12,600 Cost of goods sold 3,760 Other expenses 4,127 Depreciation 2,388 Earnings before interest and taxes (EBIT) $ 2,375 Interest expense 655 Income before tax $ 1,720 Taxes (at 30%) 602 Net income $ 1,118 Dividends $ 816 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities $ 83 $ 152 Receivables 2,082 2,370 Inventories 157 208 Other current assets 837 902 Total...
The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS...
The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales $3,076,000 1,958,000 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land 1,118,000 $866,000 31,000 8,800 19,000 56,000 Interest expense Income tax expense Total expenses 980,800 $ 137,200 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 2017 Assets Current assets Cash $152,000 68,000 143,000 6,960...
The 2021 Income statement of Adrian Express reports sales of $13,500,000, cost of goods sold of $7.696.000, and net Income of $1,520,000. Balance sheet Information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2820 2e21 2e2e Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 529.988 1.248. 1,648,808 4,728,889 $8,120,000 $ 688.888 9 20,00...
The 2018 income statement of Adrian Express reports sales of $14,400,000, cost of goods sold of $8,387,500, and ret income of $1,550,000. Balance shoet infomation is provided in the following table ADRIAN EXPRESS Balance Sheets December 31 2018 and 2017 2018 2017 Assets Current assets Cash Accounts receivable Inventory Long-torm assets $ 550,000 1,300,000 1,700,000 4,750,000 S 710,000 950,000 1350,000 4.190.000 Total assets $8300,000 $7200,000 Labilicies and Stockholders Cument liabil0es Long-ens abiises Equity $1,970,000 2.250.000 1900.000 2.180,000 $1,610,000 2350.000 1900000...
The 2021 Income statement of Adrian Express reports sales of $20,310.000, cost of goods sold of $12.500,000. and net Income of $1,900,000. Balance sheet Information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2e20 Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Connon stock Retained earnings Total liabilities and stockholders' equity $ 900.00 $ 910,000 1,725, eee1 .175.000 2,175,08 1,625,000 5.ee8,688...
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...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000 6,827,760 360,000 8,400,000 5,900,000 248,000 Balance Sheet Information Current assets Long-term assets $ 1,600,000 2,200,000 $ 1,500,000 1,900,000 Total assets $ 3,800,000 $ 3,400,000 $ Current liabilities Long-term liabilities Common stock Retained earnings 1.200,000 1,500,000 800,000 300,000 900.000 1,500,000 800,000 200,000 Total liabilities and stockholders' equity 3,800,000 $ 3,400,000 Required: 1. Calculate the following profitability ratios for 2018 (Round your answers to 1 decimal...
The 2018 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $5.6 million, and net income of $840,000. The following table shows the company's comparative balance sheets for 2018 and 2017: 0182017 $460 540 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) 860 1,300 1,100 3,2002,920 $5,820 $5,140 Total assets Liabilities and shareholders equity Current liabilities Bonds payable Paid-in capital Retained earnings $1,120 990 1,600 1,600 1,800 1,800 1...
The following income statement and balance sheets for Virtual
Gaming Systems are provided.
Required:
Assuming that all sales were on account, calculate the following
risk ratios for 2021. (Use 365 days a year. Round your
final answers to 1 decimal place.)
VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $2,986,000 Cost of goods sold 1,940,000 Gross profit 1,046,000 Expenses: Operating expenses $848,000 Depreciation expense 22,000 Loss on sale of land 7,000 Interest expense 10,000...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $65,300 45,000 14,000 660 $417,000 301,000 79,000 1,800 (85) (380) 1,500 4,055 7,100 $27,720 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders $16,000 27.400 $43,400 $11,000 17,800 14,600 $50,000 121,000 $171,000 $54,000 43,000 74,000 $171,000...
The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales $3,076,000 1,958,000 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land 1,118,000 $866,000 31,000 8,800 19,000 56,000 Interest expense Income tax expense Total expenses 980,800 $ 137,200 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 2017 Assets Current assets Cash $152,000 68,000 143,000 6,960...
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