Hal's Ice Cream Stands$ ThousandsAssetsCash and cash equivalentsAccounts receivableInventoriesTotal Current AssetsEquipmentLess accumulated depreciationLand HoldingsTotal AssetsLiabilities & Shareholders' EquityAccounts PayableShort-term DebtTotal Current LiabilitiesLong-Term DebtTotal LiabilitiesShareholders' EquityLiabilities & Shareholders' EquityHal's Income Statement for the Year Ending12/31/2021($ 000s except for earnings per share)SalesCost of Goods SoldPayroll and employee benefitsGross Operating ProfitSelling, general and administrative expensesIncome from OperationsInterest expenseIncome taxesNet IncomeEarnings per share of common stock ($)2021$1005075$225300(5)15$53520050250100350???$535$500100200200100100520$75$0.25 5.For Hal's 2022 Income Statement, indicate the impact of the following cumulative events (bycumulative, I mean that the effects of problem (a) should be included in answering problem (b)which could be included in problems (c) and (d), etc.):a. Revenues grow at 20%. What are 2022 revenuesb. Income from Operations Profit Margin is 25%. What is the 2022 Operating ProfitInterest rate on the new long-term loan described in 1e. above is 5%. What is thetotal interest expense for the firm_Assume income taxes remain at the same dollar amount as in 2021C.d. What is Net Income in 2022?e. Assuming no change in the number of shares, what is the Earnings per Share in2022?

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Hal's Ice Cream Stands $ Thousands Assets Cash and cash equivalents Accounts receivable Inventories Total Current Assets Equipment Less accumulated depreciation Land Holdings Total Assets Liabilities & Shareholders' Equity Accounts Payable Short-term Debt Total Current Liabilities Long-Term Debt Total Liabilities Shareholders' Equity Liabilities & Shareholders' Equity Hal's Income Statement for the Year Ending 12/31/2021 ($ 000s except for earnings per share) Sales Cost of Goods Sold Payroll and employee benefits Gross Operating Profit Selling, general and administrative expenses Income from Operations Interest expense Income taxes 2021 $100 50 75 $225 300 (5) 15 $535 200 50 250 100 350 ??? $535 $500 100 200 200 100 100 5 20

Hal's Ice Cream Stands $ Thousands Assets Cash and cash equivalents Accounts receivable Inventories Total Current Assets Equipment Less accumulated depreciation Land Holdings Total Assets Liabilities & Shareholders' Equity Accounts Payable Short-term Debt Total Current Liabilities Long-Term Debt Total Liabilities Shareholders' Equity Liabilities & Shareholders' Equity Hal's Income Statement for the Year Ending 12/31/2021 ($ 000s except for earnings per share) Sales Cost of Goods Sold Payroll and employee benefits Gross Operating Profit Selling, general and administrative expenses Income from Operations Interest expense Income taxes 2021 $100 50 75 $225 300 (5) 15 $535 200 50 250 100 350 ??? $535 $500 100 200 200 100 100 5 20

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 10SPA: RATIO ANALY SIS OF COMPARATI VE FIN ANCIAL STATE MENT S Refer to the financial statements in Problem...

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