3-12 Financial statements The Davidson Corporation's balance sheet and income statementare given here:Davidson Corporation: Balance Sheet as of December 31, 2005(Millions of Dollars)AssetsLiabilities and Equity$ 15Cash and equivalentsAccounts receivableAccounts payableNotes payableAccruals$ 120515220Inventories880280$ 6201,520$2,140Total current assets$1,410Total current liabilitiesNet plant and equipment2,590Long-term bondsTotal debtCommon stock(100 million shares)260Retained earningsCommon equityTotal liabilities and equity1,600$1,860$4,000Total assets$4,000 Davidson Corporation: Income Statement for Year Ending December 31, 2005(Millions of Dollars)Sales$6,250Operating costs excluding depreciation and amortization5,230ЕBITDA$1,020Depreciation and amortization220EBIT$ 800Interest180EBT$ 620Taxes (40%)248$ 372$ 146$ 3.72Net incomeCommon dividends paidEarnings per shareAll revenues were received in cash during the year and all costs except depreciationand amortization were paid in cash during the year. What was net cash flow? Howwas it different from reported accounting profit?b. Construct the statement of retained earnings for December 31, 2005.c. How much money has been reinvested in the firm over the years?d. At the present time, how large a check could be written without it bouncing?e. How much money must be paid to current creditors within the next year?а.

Financial statements The Davidson Corporation's balance sheet and income statement are given here: Davidson Corporation: Balance Sheet as of December 31, 2005 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 15 $ 120 Accounts receivable Inventories Accounts payable Notes payable Accruals 515 220 280 $ 620 1,520 $2,140 880 $1,410 2,590 Total current assets Total current liabilities Long-term bonds Total debt Net plant and equipment Common stock (100 million shares) Retained earnings Common equity Total liabilities and equity 260 1,600 $1,860 $4,000 Total assets $4,000

Financial statements The Davidson Corporation's balance sheet and income statement are given here: Davidson Corporation: Balance Sheet as of December 31, 2005 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 15 $ 120 Accounts receivable Inventories Accounts payable Notes payable Accruals 515 220 280 $ 620 1,520 $2,140 880 $1,410 2,590 Total current assets Total current liabilities Long-term bonds Total debt Net plant and equipment Common stock (100 million shares) Retained earnings Common equity Total liabilities and equity 260 1,600 $1,860 $4,000 Total assets $4,000

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...

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