What would the net income/loss be for the year using the following information? Please explain your calculations used to get your numbers. Jan. 1, 2017 total assets $150,000 Dec.31, 2017 total assets $175,000 Jan. 1, 2017 total liabilities $35,000 Dec. 31, 2017 total liabilities $145,000 Dividends declared for year $25,000 Dividends paid out for the year $37,500 No Par Common Stock Sold during year $10,000

What would the net income/loss be for the year using the following information? Please explain your calculations used to get your numbers. Jan. 1, 2017 total assets $150,000 Dec.31, 2017 total assets $175,000 Jan. 1, 2017 total liabilities $35,000 Dec. 31, 2017 total liabilities $145,000 Dividends declared for year $25,000 Dividends paid out for the year $37,500 No Par Common Stock Sold during year $10,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 23MCQ

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3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 % see pictures
Using the information below calculate the ROC of the company Years Revenue ($M) Net Income ($M) 2012 221.8 2.9 2013 473.8 20.2 2014 627.7 36.4 2015 947.8 45.0 2016 1,015.5 50.3 2017 1,046.2 64.9 2018 1,293.2 90.4 Years Total Assets ($M) Fixed Assets ($M) Current Assets ($M) Total Equity ($M) Retained Earnings ($M) 2012 430 286 144 293 12.8 2013 956 501 455 558 33.0 2014 922 668 324 620 69.4 2015 1103 796 307 665 114.4 2016 1120 835 285 729 164.7 2017 1294 738 556 805 229.6 2018 2053 703 1350 934 320
For years ended December 31 Equity Investee Financial Summary, $ millions 2018 2017 2016 Net sales... Gross margin Net income.. Cummins' share of net income. $7,352 $7,050 $5,654 1,373 1,422 1,182 647 680 499 $ 336 $ 308 $ 260 Royalty and interest income.. 58 49 41 Total equity, royalty and interest from investees... $ 394 $ 357 $ 301 Current assets $3,401 1,449 $3,416 1,379 Noncurrent assets Current liabilities.. Noncurrent liabilities.. Net assets... (2,669) (218) (2,567) (237) $1,963 $1,991 Cummins' share of net assets $1,144 $1,116 a. What assets and liabilities of unconsolidated affiliates are omitted from Cummins' balance sheet as a result of the equity method of accounting for those investments? b. Do the liabilities of the unconsolidated affiliates affect Cummins directly? Explain. c. How does the equity method impact Cummins' ROE and its RNOA components (net operating asset turnover and net operating profit margin)?
Here is financial information for Sheridan Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Assets Current assets Plant assets (net) Total assets December 31, 2022 Liabilities $123,000 395,300 89,279 130,592 166,959 131,470 2022 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) $123,000 December 31, 2021 395,300 $100,000 335,000 73,000 88,000 117,000 157,000 2021 SHERIDAN INC. Condensed Balance Sheets December 31 $100,000 335,000 $518,300 $435,000 Increase or (Decrease) Amount Percentage % % %
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Refer to the data below. Retained earnings, December 31, 2020 $ 416,840 Net decrease in total assets during 2020 63,580 Net increase in accounts receivable in 2020 14,620 Dividends declared and paid in 2020 57,120 Proceeds from issuance of bonds during 2020 150,280 Net loss for the year ended December 31, 2020 39,100 Required:From the above data, calculate the Retained Earnings balance as of December 31, 2019:
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $ 1,800.0 $ 1,500.0 Operating costs excluding depreciation and amortization 1,395.0 1,275.0 EBITDA $ 405.0 $ 225.0 Depreciation and amortization 43.0 39.0 Earnings before interest and taxes (EBIT) $ 362.0 $ 186.0 Interest 40.0 33.0 Earnings before taxes (EBT) $ 322.0 $ 153.0 Taxes (40%) 128.8 61.2 Net income $ 193.2 $ 91.8 Common dividends $ 174.0 $ 73.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash and equivalents $ 23.0 $ 18.0 Accounts receivable 248.0 225.0 Inventories 396.0 360.0 Total current assets $ 667.0 $ 603.0 Net plant and equipment 429.0 390.0 Total assets $ 1,096.0 $ 993.0 Liabilities and Equity Accounts…
Suppose the 2022 Adidas financial statement contain the following selected data (in millions) current assets 4215 total assets 9000 current liabilities 4860 cash 755 interest expense 150 income tax 190 net income 275 a.working capital b.current ratio c.debt to assets ratio d.times interest earened
Computing rate of return on total assets Barot’s 2018 financial statements reported the following items—with 2017 figures given for comparison: Net income for 2018 was $3,910, and interest expense was $240. Compute Barot’s rate of return on total assets for 2018. (Round to the nearest percent.)
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