What will the net other expenses and income amount be? Company EBalance SheetDecember 31, 20Y1AssetsCurrent assetsCash$246,000Available-for-sale investments$260,130(6,500)545,000Valuation allowance for available-for-sale investments253,630Accounts receivableAllowance for doubtful accounts(8,450)536,550Merchandise inventory778,000Interest receivable1,125Prepaid expenses27,400Total current assets$1,842,705InvestmentsInvestment in Company P$1,009,300Investment in Comapny D bonds90,0001,099,300Property plant and equipmentStore buildings and equipment12,560,000Accumulated depreciation- store buildings and equipment(4,126,000)Store buildings and equipment,net8,434,000Office buildings and equipment4,320,000Accumulated depreciation- office buildings and equipment(1,580,000)Office buildings and equipment, net2,740,00011,174,000Intangible assetsGoodwill500,000Total assets$ 14,616,005LiabilitiesCurrent liabilitiesAccounts payable$194,300Income tax payable44,000Total current liabilities$238,300Long-term liabilitiesBonds payable$500,000519,000Premium on bonds payableTotal Liabilities19,000$757,300Stockholders' equityPreferred 5% stock, $80 par (30,000 shares authorized;20 shares issued)$1,600,000Excess of issue price over parCommon stock, $20 par (400,000 shares authorized;100,000 shares issued, 94,600 outstandingExcess of issue price over parPaid-in capital from sale of treasury stockTotal paid-in capitalRetained earnings150,000$1,750,000$2,000,000886,800$2.886,80013,000$4,649,8009,393.605(6,500)$14,036,905Unrealized gain (loss) on available-for-sale investmentTotalTreasury stock (5,400 shares of common stock at cost)(178,200)Total stockholders' equity$13,858,705Total liabilities and stockholders' equity$14,616,005 Company EIncome StatementFor the Year ended December 31, 20Y1Sales$5,254,000Cost of merchandise sold3,700,000Gross profit$1,554,000Less: Operating expensesGeneral and administrative expensesDepreciation expense- office building and equipment$30,000Miscellaneous administrative expenses7,500Office rent expense50,000Office salaries expense170,000Office supplies expense10,000$267,500Selling expensesDepreciation expense- store building and equipment$100,000Advertising expense150,000Delivery expense30,000Miscellaneous selling expenses14,000Sales commissions185,000Sales salaries expense385,000Store supplies expense21,000885,0001,152,500Net operating income$401,500Other incomeDividend revenue$4,500Gain on sale of investment4,980Income from Company P76,800Interest revenue2,72089,000Earnings before interest and tax$490,500Interest expense21,000Earnings before taxes$469,500Income tax expense140,500Net income$329,000Earnings per share$2.29

Name: What will the net other expenses and income amount be? Company EBalanc
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: What will the net other expenses and income amount be? Company EBalance SheetDecember 31, 20Y1AssetsCurrent assetsCash$246,000Available-for-sale investments$260,130(6,500)545,000Valuation allowance for available-for-sale investments253,630Accounts re

Net other expenses and income means other expenses less other income

Business

Accounting

Company E Income Statement For the Year ended December 31, 20Y1 Sales $5,254,000 Cost of merchandise sold 3,700,000 Gross profit $1,554,000 Less: Operating expenses General and administrative expenses Depreciation expense- office building and equipment $30,000 Miscellaneous administrative expenses 7,500 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 $267,500 Selling expenses Depreciation expense- store building and equipment $100,000 Advertising expense 150,000 Delivery expense 30,000 Miscellaneous selling expenses 14,000 Sales commissions 185,000 Sales salaries expense Store supplies expense 385,000 21,000 885,000 1,152,500 Net operating income $401,500 Other income Dividend revenue $4,500 Gain on sale of investment 4,980 Income from Company P 76,800 Interest revenue 2,720 89,000 Earnings before interest and tax $490,500 Interest expense 21,000 Earnings before taxes $469,500 Income tax expense 140,500 Net income $329,000 Earnings per share $2.29

Company E Income Statement For the Year ended December 31, 20Y1 Sales $5,254,000 Cost of merchandise sold 3,700,000 Gross profit $1,554,000 Less: Operating expenses General and administrative expenses Depreciation expense- office building and equipment $30,000 Miscellaneous administrative expenses 7,500 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 $267,500 Selling expenses Depreciation expense- store building and equipment $100,000 Advertising expense 150,000 Delivery expense 30,000 Miscellaneous selling expenses 14,000 Sales commissions 185,000 Sales salaries expense Store supplies expense 385,000 21,000 885,000 1,152,500 Net operating income $401,500 Other income Dividend revenue $4,500 Gain on sale of investment 4,980 Income from Company P 76,800 Interest revenue 2,720 89,000 Earnings before interest and tax $490,500 Interest expense 21,000 Earnings before taxes $469,500 Income tax expense 140,500 Net income $329,000 Earnings per share $2.29

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

See similar textbooks

Similar questions

Operating profit 43-7 Sales revenue 910-4 Share capital and reserves 182-3 Long-term borrowing 77-9 Inventory 46-2 Receivables 97-8 Payables 51:3 Calculate the following: GReturn on Cepitatemployest (i Assetturnover (ii) Current ratio (iv) Acid test (quick) ratio
Current Attempt in Progress 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.…
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…
Data needed: SFP Asset section 1. Cash 16.3% 2. AR 6.3% 3. Short term investment 0.2% 4. Inventory 2.2% 5. Prepaid expenses 0.4% 6. PPE 74.7% Data needed: SFP Liabilities and OE section. 1. Current liab 16% 2. Non-current liab 34.2% 3. OE 49.9% Data needed: SCI 1. COGS 38.6% 2. Selling and admin exp 6.8% 3. Interest exp 0.1% 4. Income tax exp 0.5% 5. Net income 54%
Current Asset Current Liabilities COGS Inventory Total Liabilities Total Assets Net Sales Operating Income Gross Profit EBIT EBT Cash Flow Operation Retained Earning Owner's Equity 2018 80,073,836 26,882,064 51,678,144 14,854,944 80,133,248 124,776,768 160,099,728 75,249,200 108,421,584 56,436,900 45,149,520 49,716,192 28,967,893 44,643,520 2017 54,919,520 13,083,840 35,379,840 9,575,808 64,875,200 100,945,824 98,157,888 32,775,808 62,778,048 24,581,856 19,665,485 26,781,248 29,361,440 36,070,624
SalesOperating costs (excluding depreciation and amortization) EBITDADepreciation and amortization Earnings before interest and taxes Interest Earnings before taxesTaxes (40%)Net income available to common stockholders Common dividendsSEBRINGCORPORATION: BALANCESHEETSFORYEARENDINGDECEMBER31 (FIGURES ARE STATED IN MILLIONS) Assets: Cash and marketable securities Accounts receivableInventories Total current assets Gross Fixed Assets Less DepreciationNet plant and equipment Total assets 2005 2004 $3,600.0 $3,000.0 $3,060.0 $2,550.0 $540.0 $450.0 90.0 75.0 $450.0 $375.0 65.0 60.0 $385.0 $315.0 154.0 126.0 $231.0 $189.0 $15.0 $13.0 2005 2004 $ 36.00 $ 30.00 $ 340.00 $ 250.00 $ 457.00 $ 351.00 $ 833.00 $ 631.00 $ 1,065.00 $ 825.00 $ (165.00) $ (75.00) $ 900.00 $ 750.00 $ 1,733.00 $ 1,381.00 $ 324.00 $ 270.00 $ 201.00 $ 155.00 $ 216.00 $ 180.00 $ 741.00 $ 605.00 $ 450.00 $ 450.00 $ 1,191.00 $ 1,055.00 $ 150.00 $ 150.00 $ 392.00 $ 176.00 $ 542.00 $ 326.00 $ 1,733.00 $ 1,381.00…
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Asset turnover
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of fixed assets to long-term liabilities
The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (24%) CROSBY, INCORPORATED 2021 Income Statement Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory $31,335 69,745 $ 20,640 43,580 91,960 $747,000 582,000 18,000 FA $147,000 14,000 $ 133,000 31,920 $ 101,080 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Seved Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total $ 54,800 14,000 $ 68,800 MA000
Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets P550,000 P585,000Property and Other Assets:Equipment, net P340,000 P320,000Other Assets 15,000 15,000Total Property and Other Assets P355,000 P335,000 Total Assets…
Selected ratios formulars Unilever 2021 BOPP 2021 ROCE PBIT / net assets * 100 (32,424/39,406 *100 = - 82% 102,154 / 192,758 *100 =53% Net Assets Turnover Revenue / Net Assets 526,912 / 39,406 = 13 times 214,174 / 192,758 = 1 time Gross Profit Margin Gross profit / revenue *100 97,046 / 526,912 *100 18.4% 115,462 / 214,174 * 100 54% Net Profit Before Tax PBT / revenue * 100 (35,005) / 526,912* 100 = -6.6% 104,778 / 214,174* 100 =48.9% Current Ratio Current assets / current liabilities 214,665/341,171 = 0.5 139,104 / 30,368 = 4.5 Quick Ratio Current assets – inventory / current liabilities 214,665-91,627 /341,171 = 0.4 139,104 -13,248/ 30,368 = 4.1 Inventory Days Inventory / cost of sales * 365 days 91,627/ 429,866 *365 = 77 days 13,248 / 101,397 *365 = 47 days Receivable Days Receivables / cost of sales * 365 days 24,515 / 429,866 *365 =20 days 92,860 / 101,397 *365 =334 days Payable Days…
Cash Short-term investments Current receivables Inventory Prepaid expenses Total current assets Current liabilities Camaro $ 2,400 0 260 2,175 300 $ 5,135 $ 2,220 GTO $ 230 0 510 2,020 600 $ 3,360 $ 1,320 Torino $ 1,300 600 500 3,050 900 $ 6,350 $ 3,550 a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations?