Lakecraft Company Balance Sheet December 31, 2015 Assets Liabilities and Equity $ 60,000 $100,000 200,000 Current assets Current liabilities . . Equipment (net) Building (net) Stockholders' equity: Common stock ($5 par) . Retained earnings. 270,000 $100,000 410,000 510,000 Total assets.. $570,000 Total liabilities and equity $570,000

Lakecraft Company Balance Sheet December 31, 2015 Assets Liabilities and Equity $ 60,000 $100,000 200,000 Current assets Current liabilities . . Equipment (net) Building (net) Stockholders' equity: Common stock ($5 par) . Retained earnings. 270,000 $100,000 410,000 510,000 Total assets.. $570,000 Total liabilities and equity $570,000

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 15.17EX: Profitability ratios The following selected data were taken from the financial statements of...

See similar textbooks

Similar questions

Profitability ratios The following selected data were taken from the financial statements of Robinson Inc. for December 31, 2016, 2015 and 2014: December31 2016 2015 2014 Total assets......................................... 4,800,000 4,400,000 4,000,000 Notes payable (8% interest)........................... 2,250,000 2,250,000 2,250,000 Common stock...................................... 250,000 250,000 250,000 Preferred 4% stock, 100 par (no change during year)........................... 500,000 500,000 500,000 Retained earnings................................... 1,574,000 1,222,000 750,000 The 2016 net income was 372,000, and the 2015 net income was 492,000. No dividends on common stock were declared between 2014 and 2016. a. Determine the rate earned on total assets, the rate earned on stockholders equity, and the rate earned on common Stockholders equity for the years 2015 and 2016. Round to one decimal place. b. What conclusions can be drawn from these data as to the companys profitability?
Select information from BUI Balance Sheets as of December 31 Current Assets Net Plant and Equipment Total Assets Accounts Payable Notes Payable Accruals Long-Term Bonds Total Common Equity Total Liabilities & Equity Income Statement Earnings before interest and taxes Depreciation and Amortization Interest Taxes 40% Net Income Other Information WACC Number of shares outstanding Price per share What was 2014 EVA? $0 $197,600 $140,000 $57,600 2013 1,200,000 900,000 2,800,000 2,700,000 4,000,000 3,600,000 2014 200,000 216,000 280,000 108,000 120,000 252,000 1,040,000 864,000 2,360,000 2,160,000 4,000,000 3,600,000 2014 1,200,000.0 140,000.0 104,000.0 438,400.0 657,600.0 2014 18.00% 80,000 $22.13
Current Attempt in Progress Here is financial information for Sunland Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $124,600 394,272 89,568 127,977 166,656 134,671 December 31, 2021 $100,000 333,000 72,000 87,000 112,000 162,000 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%.)
Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% Total liabilities Stockholders' equity: Common stock, $ 78 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 960,000 0 2,700,000 3,900,000 240,000 7,800,000 9,300,000 $ 17,100,000 $ 3,900,000 3,600,000 7,500,000 7,800,000 1,800,000 9,600,000 $ 17,100,000 $ 1,260,000 300,000 1,800,000 2,400,000 180,000 5,940,000 8,940,000 $ 14,880,000 $ 2,760,000 3,000,000 5,760,000 7,800,000 1,320,000 9,120,000 $ 14,880,000 Sales (all on account) Lydex Company Comparative Income Statement and Reconciliation This Year $ 15,750,000 12,600,000 3,150,000 1,590,000 Last Year $ 12,480,000 9,900,000 2,580,000 Cost of goods sold Gross margin Selling and…
SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $ 536,600 Investments 65,900 Plant and equipment. $615,000 Less: Accumulated depreciation 271,000 Net plant and equipment 344,000 Total assets $ 946,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities $ 181,000 Long-term liabilities: Bonds payable 153,200 Total liabilities $ 334,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders' equity $ 612,300 Total liabilities and stockholders' equity $ 946,500…
PROBLEM 8:Tomas Co. has the following balance sheet as of December 31, 2021.Current assets 180,000.00Fixed assets 120,000.00Total assets 300,000.00Accounts payable 40,000.00Accrued liabilities 20,000.00Notes payable 50,000.00Other Long-term debt 75,000.00Total Equity 115,000.00Total liabilities and equity 300,000.00 In 2021, Tomas Co. reported sales of P1,500,0000, net income of P30,000, and dividends of P18,000. The company expected its sales to increase by 20% by next year and its retention ratio will remain at 40%. Assume that Tomas Co. is operating at full capacity and it uses the AFN approach in determining the amount of external financing needed.How much is the sales for 2022? Using Problem 8, how much is the increase in retained earnings for the purpose of computing the AFN? Using Problem 8, how much external funds needed for the year 2022?
Here is financial information for Sage Hill Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $110,200 402,200 101,200 126,200 134,200 150,800 December 31, 2021 $92,200 354,200 2022 69,200 92,200 119.200 165,800 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%) Round percentages to 1 decimal place, e.g. 12.1%) SAGE HILL INC. Condensed Balance Sheet December 31 2021 Increase or (Decrease) Amount Percentage
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)?
Lydex Company Comparative Balance Sheet Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% Total liabilities Stockholders' equity: $ 1,260,000 This Year Last Year $960,000 0 2,700,000 3,900,000 240,000 7,800,000 9,300,000 $ 17,100,000 300,000 1,800,000 2,400,000 180,000 5,940,000 8,940,000 $ 14,880,000 $ 3,900,000 3,600,000 7,500,000 7,800,000 1,800,000 9,600,000 $ 2,760,000 3,000,000 5,760,000 7,800,000 1,320,000 9,120,000 Common stock, $ 78 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Lydex Company $ 17,100,000 $ 14,880,000 Comparative Income Statement and Reconciliation Sales (all on account) Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes…
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
Use the common-size financial statements found here: ommon-Size Balance Sheet 2016Cash and marketable securities $ 480 1.5 %Accounts receivable 6,030 18.2Inventory 9,540 28.8Total current assets $ 16,050 48.5 %Net property, plant, and equipment 17,020 51.5Total assets $33,070 100.0 %Accounts payable $ 7,150 21.6 %Short-term notes 6,850 20.7Total current liabilities $ 14,000 42.3 %Long-term liabilities 7,010 21.2Total liabilities $ 21,010 63.5 %Total common shareholders’ equity 12,060 36.5Total liabilities and shareholders’ equity $33,070 100.0 %Common-Size Income Statement 2016Revenues $ 30,000 100.0 %Cost of goods sold (20,050) 66.8Gross profit $ 9,950 33.2 %Operating expenses (7,960) 26.5Net operating income $ 1,990 6.6 %Interest expense (940) 3.1Earnings before taxes $ 1,050 3.5 %Income taxes (382) 1.3Net income $668 2.2 % Specifically, write up a brief narrative that responds to the following questions: a. How much cash does Patterson have on hand relative to its total…
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2017 2016 Net sales $4,750 $5,401 Cost of goods sold 3,901 3,500 Net income 55 120 Accounts receivable 65 109 Inventory 1,250 1,350 Total assets 2,850 3,150 Total common stockholders' equity 961 1,111 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%)