The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) $ 27,583 17,585 1,418 $ 8,580 533 Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income 8,047 1,690 Federal taxes (@ 21%) Net income $ 6,357 BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Assets 2019 2018 Liabilities and Shareholders' Equity 2019 2018 Current assets Current liabilities $ 2,352 1,391 $ 2,352 1,351 Debt due for repayment Accounts payable Cash and marketable securities 415 $ 3,419 $ 3,419 Receivables 3,159 Inventories 138 133 Total current liabilities $ 3,574 Other current assets 1,105 632 Total current assets $ 4,986 $ 4,468
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- The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,587 Costs 17,589 Depreciation 1,422 Earnings before interest and taxes (EBIT) $ 8,576 Interest expense 537 Pretax income 8,039 Federal taxes (@ 21%) 1,688 Net income $ 6,351 BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Assets 2019 2018 Liabilities and Shareholders' Equity 2019 2018 Current assets Current liabilities Cash and marketable securities $ 2,356 $ 2,356 Debt due for repayment — $ 427 Receivables 1,395 1,355 Accounts payable $ 3,423 3,163 Inventories 142 137 Total current liabilities $ 3,423 $ 3,590 Other current assets 1,109 636 Total current…X Company collected P12,350 in interest during 2019. X showed P1,850 in interest on its December 31, 2021 statement of financial position and P5,300 on December 31, 2020. How much is the Interest Revenue to be reported on X’s statement of comprehensive income in 2021?The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,572 Costs 17,574 Depreciation 1,407 Earnings before interest and taxes (EBIT) $ 8,591 Interest expense 522 Pretax income 8,069 Federal taxes (@ 21%) 1,694 Net income $ 6,375 BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Assets 2019 2018 Liabilities and Shareholders' Equity 2019 2018 Current assets Current liabilities Cash and marketable securities $ 2,341 $ 2,341 Debt due for repayment — $ 382 Receivables 1,380 1,340 Accounts payable $…
- During 2021, Jerry Inc. has the following account balances in Income Statement: Sales P 1,630,245, Cost of Sales P 646,788, Selling Expense P 235,500, Administrative Expense P 114,766, Other Expense P 57,146, Tax Expense P 200,400 and Other Revenue P 65,810. How much is the net income? a. P 414,454b. P 414,455c. P 441,455d. P 441,445Based on the following ratios and percentages, complete the following Income Statement and Balance Sheet of Kristine Corporation for the year ended Dec. 31, 2019 Sales ( 80% on credit) P ? (1) (2) Less: Cost of Goods Sold Gross Profit Less: Operating Expenses Operating Income Less: Interest expense 2,100,000 ? ? (3) (4) (5) (6) (7) Net Income before tax ? Less : Income tax ( 30%) ? Net Income after tax (8) Balance Sheet Cash ? (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) Current Liabilities ? (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) Accounts receivable 12% Bonds Payable Inventory Prepaid expenses Total Current Assets Total Liabilities ? ? 10 %Preferred Stock Common Stock (P100 par) ? Property and equipment ? Less: Accumulated Deprn. Prop. & Equip. , net Intangible Assets Total Assets Total Contributed Capital ? Premium on Common Stock Retained Earnings Total Stockholders' Equity ? Total Liab. & Stock. Equity ? ===== Additional Information : 1. Receivable turnover 2.…The following are extracted from the financial statements of Shawn Co., for 2019, 2018, and 2017. 2019 2018 2017 Net sales $233,000 (124,000) (95,000) $204,000 Cost of sales (110,000) (81,500) Selling and administrative expenses Other income: Interest Other (3,700) (3,050) 1,175 $ 10,625 100 Earnings before tax and extraordinary credit Provision for income tax $ 10,400 (4,800) 5,600 (4,740) Earnings before extraordinary credit Extraordinary credit 5,885 1,510 $ 7,395 $ 5,600 Total assets $202,000 $173,000 17,400 116,800 4,000 280 $161,000 Long-term debt Common equity 24,600 123,000 15,200 112,800 4,000 280 Preferred stock 4,000 Preferred dividends 280 Required: Compute the following ratios for Shawn Co. for 2019 and 2018. 1. Return on total equity Return on common equity Gross profit margin 2. 3. b. Discuss the trend in profitability and identify specific causes for the trend.
- The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…Rousseau Corporation has the following Statement of Income for the year ended May 31, 2020: Sales... $1,675,200 Cost of goods sold.. 887,600 Gross margin... 787,600 Selling & administrative expense.. 241,200 Interest expense. 65,000 Income before income taxes. 481,400 192,500 $288,900 Income taxes.. Net income.... Calculate the interest-coverage ratio for Rousseau Corporation for May31, 2020 (place answer at up to 2 decimal places in the space below). 신The following are the comparative financial statements for Outland Corporation for 2020 and 2019: OUTLAND CORPORATION Statement of Income For Periods Ending October 31 Sales Revenue Cost of Goods Sold Gross Profit.. 2020 167,500 100,000 67,500 2019 140,000 85,000 55,000 Expenses Depreciation Selling and Administrative Interest Expense. Total Expenses. 15,000 22,500 15,000 15,000 47,500 35,000 Net Income (before taxes). Income Taxes 25,000 10,000 15,000 22,500 7,500 15,000 Net Income OUTLAND CORPORATION Statement of Financial Position As at October 31 2020 2019 Assets Current Assets: 4,000 10,000 35,000 31,000 80,000 Cash. 2,500 7,500 30,000 25,000 65,000 Marketable Securities. Accounts Receivable. Inventory Total Current Assets Investments (at cost).. 30,000 32,500 Property, plant and equipment Property, Plant and Equipment.. Less: Accumulated Depreciation. 200,000 87,500 112,500 2,500 225,000 190,000 80,000 110,000 2,500 210,000 Goodwill Total Assets Liabilities and Shareholders'…
- The following are the financial statement Quick Ltd. for the year ended 31st December 2020: Quick Ltd. Income statement For year ended 31st December 2020 $”000” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) Profit before tax 150.00 Tax (70.00) Profit after tax 80.00 Quick Ltd. Statement of financial position as at 31 December 2020 2019 $”000” $”000d” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales $ 27,586 Costs 17,588 Depreciation 1,421 Earnings before interest and taxes (EBIT) $ 8,577 Interest expense 536 Pretax income 8,041 Federal taxes (@ 21%) 1,689 Net income $ 6,352 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Assets 2022 2021 Liabilities and Shareholders' Equity 2022 2021 Current assets Current liabilities Cash and marketable securities $ 2,355 $ 2,355 Debt due for repayment — $ 424 Receivables 1,394 1,354 Accounts payable $ 3,422 3,162 Inventories 141 136 Total current liabilities $ 3,422 $ 3,586 Other current assets 1,108 635 Total current assets $ 4,998 $ 4,480 Fixed assets Long-term debt $ 13,652 $ 12,153 Property, plant, and equipment $ 24,696 $ 22,854 Other long-term…Following are forecasts of Home Depot's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of February 3, 2019, which the company labels fiscal 2018 S millions Sales NOPAT NOA Forecast Horizon Period Terminal Period 2021 Reported 2018 2019 2020 2022 $125,515 $134,301 $143,703 $153,761 $164,525 $167,816 14,005 15,042 16,095 17,221 18,427 29,633 31,705 33,924 36,299 38,840 18,795 39,616 Answer the following requirements assuming a discount rate (WACC) of 7.85%, a terminal period growth rate of 2%, common shares outstanding of 1,105 million, net nonoperating obligations (NNO) of $31,812 million. Required a Estimate the value of a share of Home Depot's common stock using the discounted cash flow (DCF) model as of February 3, 2019. Note: Do not round until your final answer; round your final answer to two decimal places. Stock price per share: s b. Home Depot stock closed at $220.47 on March 28, 2019, the date the Form 10-K was filed with the SEC. How does your…