оп герог owing Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $1034000 For 2021, Cullumber would report comprehensive income of 723800 113740 41360 4136
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- During 2021, Anthony Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. Pertinent data are as follows: The net holding gain or loss included in Anthonys income statement for the year should be: a. 0 b. 3,000 gain c. 9,000 loss d. 12,000 lossSandhill Co. reported the following information for 2020: Sales revenue $2520000 Cost of goods sold 1748000 Operating expenses 282000 Unrealized holding gain on available-for-sale securities 85700 Cash dividends received on the securities 9200 For 2020, Sandhill would report comprehensive income of A.$85700. B.$499200. C.$575700. D.$584900.Sunland Company reported the following information for 2025: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale debt securities Cash dividends received on the securities O $490300. O $404600. $480700. $2420000 O $85700. 1754000 271000 85700 For 2025, Sunland would report comprehensive income (ignoring tax effects) of 9600
- B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.[The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings 2021 2020 2019 $ 483,981 $ 370,769 $ 257,300 291,357 234,326 164,672 136,443 51,166 32,628 83,794 52,649 10,793 $ 41,856 192,624 68,725 43,558 Numerator: 112,283 80,341 14,943 $ 65,398 1 1 1 1 1 December 31 2021 $ 57,843 0 Current Ratio $ 23,890 $ 20,253 $ 19,708 66,000 66,000 48,000 8,250 8,250 5,333 65,490 41,423 39,574 Total liabilities and equity $ 163,630 $ 135,926 $ 112,615 Required: 1. Complete the below…Comparitive balance sheet of Hillard Co. as of Dec 31, 2020 and 2021 is as under: Assets 2020 2021 Liabilities Cash Accounts Receivable Inventory Fixed Assets Investments Sales Cost of Goods Sold Gross profit 16,425 12,300 Salaries expenses Depreciation expense Income tax expense Admin. Expenses Net profit 16,100 163,000 13,500 221,325 28,025 10,600 Income statement for the year 2021 is as under: 18,400 206,300 9,200 272,525 829,400 614,450 214,950 12,900 11,600 1,150 164,400 24,900 Accounts Payable Salaries Payable Income tax payable Loans Payable Retained earnings Please prepare the cash flow statement using the indirect method. 2020 26,900 2,400 1,600 106,250 84,175 221,325 2021 33,450 3,100 2,050 113,250 120,675 272,525
- [The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. Comparative Income Statements For Years Ended December 31 KORBIN COMPANY Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Numerator: 2021 2020 2019 $ 548,688 $ 420,340 $ 291,700 330,310 263,974 186,688 218,378 156,366 Common stock Other paid-in capital Retained earnings Total liabilities and equity 1 1 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 1 1 1 December 31 2021 $ 62,574 0 Current Ratio $25,844 65,000 8,125 78,043 Required: 1. Complete the below table to calculate each year's current ratio. $ 41,881 1,200 103,962 $ 55,985 3,920 114,438…Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 442,035 $ 338,635 266,105 214,695 123,940 46,732 29,800 76,532 47,408 9,719 Sales Cost of goods sold Gross profit! Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings KORBIN COMPANY Comparative Balance Sheets Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Long-term investments Plant assets, net Total assets 175,930 62,769 39,783 102,552 73,378 13,648 $ 59,730 $ 37,689 Liabilities and…Revenue Cost of goods sold Interest expense Income tax expense Net income Current assets (ending balance) Long-term assets (ending balance) Total assets (ending balance) Current liabilities (ending balance) Long-term liabilities (ending balance) Total liabilities (ending balance) Preferred dividends Total stockholders' equity (ending balance) Total outstanding shares Market price of shares Average inventory Average assets (excluding long-term investments) Average total assets Average total stockholders' equity Question 6 2021 2020 2019 2018 2017 10,901,977.24 7,508,199.16 5,727,216.00 3,941,696.00 3,011,800.00 2,061,536.40 1,374,357.60 1,025,640.00 683,760.00 518,000.00 1,052,060.00 891,576.00 768,600.00 610,000.00 500,000.00 1,225,572.00 845,222.00 640,320.00 441,600.00 320,000.00 5,571,720.00 3,714,480.00 2,772,000.00 1,848,000.00 1,400,000.00 11,751,396.40 9,039,535.60 68,480,133.20 5,035,392.00 4,060,800.00 6,091,200.00 17,627,094.60 13,559,303.40 102,720,199.80 7,553,088.00…
- DIRECT METHOD Condensed financial data of Coronado Company for 2020 and 2019 are presented BELOW CORONADO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash Receivables Inventory Plant Assets Accumulated depreciation Long-Term investments (held to maturity) Accounts payable. Accrued liabilities Bonds Payable Common Stock Retained earnings Sales Revenue Cost of goods sold Gross Margin Selling and administrative expenses Income from operations S $ Other revenues and gains Gain on sale of investments Income bafor tax Income tax expense Net income Cash dividends Income retained in business $ $ $ $ $ 1,800 $ 1,770 S 1,560 $ 1,900 $ (1,220) S 1,300 $ 7,110 $ MARIGOLD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 1220 190 1410 1870 2420 7110 6860 4710 2150 920 1230 80 1310 530 780 260 520 2019 1,130 1,320 1,890 1,700 (1,180) 1,430 6,290 880 250 1520 1730 1900 6280 Additonal Information: During the year, $120 of common stock was issued in exchange for…Calculate the comprehensive income for burns corp. using the following items: Sales revenue $48000 Loss on early retirement of bonds 35000 Realized gain on sale of available for sale securities 27000 Unrealized loss on sale of available for sale securities 17000 Loss on write down of inventory 3200 What is the net income What is the total comprehensive income/loss?Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.78 times 3.33 times 2.25 times 1.31 times 2.64 times 2020 2021 $ 250 890 $ 9,900 7,650 390 $ 1,860 88 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $220 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 $ 1,772 372 $1,400 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675