Multiple ChoiceSaO84 times2.06 times1.87 times82 times.1.22 times 2022 Income Statement(in millions)Net salesCost of goods soldDepreciationEarnings before interest and taxesInterest paidTaxable incomeTaxesNet incomeCashAccounts receivableInventoryTotalNet fixed assets.Total assetsWhat is the quick ratio for 2022?2021$ 230$ 2601,0001,81079001,695$ 3,040 $ 2,8553,4103,970$ 6,450 $ 6,825$ 9,5307,760465$ 1,305104Windswept, Incorporated2021 and 2022 Balance Sheets(in millions)2022$ 1,201420$ 781Accounts payableLong-term debtCommon stockRetained earnings.Total liabilities & equityReturn to question20212022$ 1,370 $ 1,3851,1003,3406401,3003,250890$ 6,450 $6,825

Ratio analysis s helps to analyze the financial statements of the company. Management can make…

2022 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 receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 2022? $ 9,530 7,760 465 2022 $ 260 900 $ 1,305 104 $ 1,201 420 $781 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $ 230 1,000 1,810 1,695. $3,040 $ 2,855 3,410 3,970 $ 6,450 $6,825 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity Return to qu 2021 2022 $ 1,370 $ 1,385 1,100 1,300. 3,340 3,250 640 890 $ 6,450 $ 6,825

2022 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 receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 2022? $ 9,530 7,760 465 2022 $ 260 900 $ 1,305 104 $ 1,201 420 $781 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $ 230 1,000 1,810 1,695. $3,040 $ 2,855 3,410 3,970 $ 6,450 $6,825 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity Return to qu 2021 2022 $ 1,370 $ 1,385 1,100 1,300. 3,340 3,250 640 890 $ 6,450 $ 6,825

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable 21.908 27,129 Inventory 18,776 24,247 17,500 3.825 Common stock Retained earnings Total liability & 15,000 Net fixed assets 14,160 14.080 6.357 Total assets 38.407 41,209 38,407 41,209 equity What is the times interest earned ratio for 2021?
Income statement for the 31.08.2020
* ces Use the following information to answer this question. Windswept, Incorporated. 2022 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 receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 20227 $ 9,950 8,060 495 $ 1,395 116 $ 1,279 448 $ 831 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $290 1,120 1,990 1,785 $3,400 $3,125 3,530 4,150 $ 6,930 $ 7,275 2022 $320 Accounts payable 1,020 Long-term debt Common stock. Retained earnings Total liabilities & equity 2021 $ 1,610 1,160 3,460 700 2022 $1,535 1,360 3,430 950 $ 6,930 $ 7,275
ect Assignment The preliminary 2024 income statement of Alexian Systems, Incorporated, is presented below: ALEXIAN SYSTEMS, INCORPORATED Income Statement. For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains. Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 435 6 128 569 247 158 41 446 $123 $ 12.30 Saved Help Additional information: 1. Selling and administrative expense includes $28 million in restructuring costs. 2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $8 million is from the gain on sale of investments. 3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.…
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Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Het sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 What is the equity multiplier for 20227 $11,100 8,050 430 $ 2,620 104 $2,516 881 $ 1,635 Windswept, 2921 and 2022 Balance Sheets. (in millions) 2022 $300 1,150 1,050 2,060 1,775 $ 3,510 $3,155 3,520 4,120 $7,030 $7,275 $ 330 porated Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $1,870 1,090 3,400 670 2022 $1,932 1,373 3,050 920 $7,030 $7,275.
Income statement is required year 2022
ASSETS Cash Accounts Receivable Inventory Plant and equipment Accumulated Depreciation TOTAL ASSETS LIABILITIES Accounts Payable Accrued Expenses Long Term Notes Payable TOTAL LIABILITIES EQUITIES Common Stock, No Par Retained Earnings TOTAL EQUITIES TOTAL LIABILITIES & EQUITIES COMPUTE THE 1. Current Ratio for 2020 & 2021 2. Quick Ratio for 2020 & 2021 2021 45,000.00 212,500.00 155,000.00 1,885,000.00 (480,000.00) 1,817,500.00 55,000.00 112,500.00 250,000.00 417,500.00 1,000,000.00 400,000.00 1,400,000.00 1,817,500.00 2020 50,000.00 207,500.00 140,000.00 1,662,500.00 (375,000.00) 1,685,000.00 47,500.00 110,000.00 237,500.00 395,000.00 1,000,000.00 290,000.00 1,290,000.00 1,685,000.00
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
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What is Naboo Manufacturing's 2019 Current Ratio?
Account Accounts payable Accounts receivable Accumulated depreciation 12/31/2021 Balances 12/31/2022 Balances 27,000 19,000 51,000 46,000 95,000 125,000 Notes Paya ble 22,000 22,000 Cash Common stock Depreciation expense Equipment Income tax expense 48,000 31.000 150,000 150,000 30,000 205,000 285,000 21% of pre-tax income Inventory Rent Expense 11,000 40,000 22,000 Cost of goods sold Prepaid rent Retained earnings 233.000 10,000 16,000 22,000 ?? Revenues 385,000 Dividends of 11,000 were declared during the year Income tax expense is 21% of income before taxes а. Create an income statement for the year ended 12/31/2022 Create i (Ctrl) - sheet as of 12/31/2022 (you will need to determine ending retained earnings) b.