Changes in Current Operating Assets and Liabilities-Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 $23,200 $22,000 Accounts receivable
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- The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…Changes in current operating assets and liabilities-indirect method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Dec. 31, Accounts 20Y2 20Y1 $25,300 $24,900 receivable Inventory 67,200 67,900 Accounts 28,100. 26,900 payable Dividends 18,000 payable 17,000 Adjust net income of $76,400 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. Check My Work 5 more Check My Work uses remaining.XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…
- Vertical Analysis of Balance Sheet Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below. Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings Current assets 20Y2 Assets 266,240 457,600 108,160 183,040 324,480 91,520 232,960 20Y1 $266,240 162,240 % 418,080 43,680 106,080 Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. 249,600 87,360 180,960 Hanes Company Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent $162,240 %E9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?Fiscal Year Ended Make-ThemCorporation Consolidated Balance Sheet (in thousands except share data) Current assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt ASSETS Total current liabilities Long-term debt $ LIABILITIES AND SHAREHOLDERS' EQUITY Total liabilities Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Dec. 31, 2008 $ S $ 369 58 489 107 43 1,066 5,137 1,168 7,371 429 104 132 89 754 2,630 3,384 **** 2,415 1,222 3,987 7,371 $ $ S Dec. 31, 2007 Assume the following information for both years: Net Profit…
- The following information pertains to Cachet Company. Assume that allBalance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit.AssetsCash and short-term investments P 40,000Accounts receivable (net) 30,000Inventory 25,000Property, plant and equipment 215,000Total Assets P310, 000Liabilities and Stockholders’ EquityCurrent liabilities P 60,000Long-term liabilities 95,000Stockholders’ equity—common 55,000Total Liabilities and Stockholders’ Equity P310, 000Income StatementSales P 90,000Cost of goods sold 45,000Gross margin 45,000Operating expenses 20,000Net income P 25,000Number of shares of common stock 6,000Market price of common stock P20Dividends per share P1.00What is the price-earnings ratio for this company?A. 6 timesB. 4.2 timesC. 8 times D. 4.8 times Can you please give me a coherent solution for this?Changes in various accounts and gains and losses on the sale of assets during the year for Argon Companyare given below:Item AmountAccounts receivable ............................... $90,000 decreaseAccrued interest receivable ................... $4,000 increaseInventory ................................................ $120,000 increasePrepaid expenses .................................. $3,000 decreaseAccounts payable ................................... $65,000 decreaseAccrued liabilities ................................... $8,000 increaseDeferred income taxes payable ............. $12,000 increaseSale of equipment .................................. $7,000 gainSale of long-term investments ............... $10,000 lossRequired:Prepare an answer sheet using the following column headings:Item Amount Add DeductFor each item, place an X in the Add or Deduct column to indicate whether the dollar amount should beadded to or deducted from net income under the indirect method when computing the…PE.17-09B - Return on total assets A company reports the following income statement and balance sheet information for the current year: Net income Interest expense Average total assets $410,000 90,000 5,000,000 Determine the return on total assets. I %
- Return on Total Assets A company reports the following income statement and balance. sheet information for the current year: Net income Interest expense Average total assets $471,500 83,200 6,450,000 Determine the return on total assets. If required, round the answer to one decimal place. %view Policies Current Attempt in Progress Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 467,400 $ 410,000 Inventory $ 785,400 % $ 660,000 % Total assets $3,197,900 % $2,830,000 % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…