(a) Income from continuing operations b) Net income (c) Net income attributable to Sunland Company's controlling shareholders %24 %24
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- Presented below is information related to Sunland Company as of and for the year ended December 31, 2017. This was Sunland Company's first year of operations. (Ignore income tax effects.) Sales revenue $ 1,380,000 Cost of goods sold 700,000 Selling and administrative expenses 320,000 Loss on sale of plant assets 68,000 Unrealized gain on available-for-sale investments 17,000 Interest expense 5,800 Interest revenue 3,900 Loss on discontinued operations 2,600 Allocation to noncontrolling interest 8,700 Dividends declared and paid 27,200Use the following information from Eiffel Company’s financial statements. 2018 IncomeStatement BalanceSheets Sales $309,000 Cost of Goods Sold (145,000) Operating Expenses, other than Depreciation Expense (27,000) Depreciation expense (16,000) Gain on Sale of Plant Assets 16,000 Net Income $137,000 Dec. 31,2018 Accounts Receivable $45,300 Inventory 1,600 Accounts Payable 22,500 Accured Liabilities 900 Dec. 31, 2017 Accounts Receivable $22,250 Inventory 1,800 Accounts Payable 22,250 Accured Liabilities 1,150 Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Eiffel Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating…Use the following excerpts from Yardley Company’s financial information. 2018 IncomeStatement BalanceSheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $175,400 Dec. 31,2018 Cash $323,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $40,000; book value $16,500. Dividends of $23,000 were declared and paid. Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a…
- Presented below is information related to Blossom Company as of and for the year ended December 31, 2017. This was Blossom Company’s first year of operations. (Ignore income tax effects.) ● Sales revenue $1,500,000 ● Cost of goods sold 600,000 ● Selling and administrative expenses 300,000 ● Loss on sale of plant assets 60,000 ● Unrealized gain on available-for-sale investments 12,000 ● Interest expense 5,000 ● Interest revenue 3,500 ● Loss on discontinued operations 2,000 ● Allocation to noncontrolling interest 7,500 ● Dividends declared and paid 26,000 Compute the following: (a) Income from continuing operations $enter a dollar amount (b) Net income $enter a dollar amount (c) Net income attributable to Blossom Company’s controlling shareholders $enter a dollar amount (d) Comprehensive income $enter a dollar amount (e) Retained earnings balance at December 31,…Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 Sales $ 1,625.0 $ 2017 1,300.0 Operating costs excluding depreciation and amortization 1,300.0 1,105.0 EBITDA $ 325.0 $ 195.0 Depreciation and amortization 39.0 31.0 Earnings before interest and taxes (EBIT) $ 286.0 $ 164.0 Interest 36.0 29.0 Earnings before taxes (EBT) $ 250.0 $ 135.0 Taxes (40%) 100.0 54.0 Net income $ 150.0 $ 81.0 Common dividends $ 135.0 $ 65.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 Assets Cash and equivalents $ 23.0 $ 2017 18.0 Accounts receivable 164.0 143.0 Inventories 343.0 312.0 Total current assets $ 530.0 $ 473.0 Net plant and equipment 390.0 312.0 Total assets $ 920.0 $ 785.0 Liabilities and Equity…Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compute asset turnover (AT) to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit $69,960 $700,400 $360,600 $1,356,504 35% Question 24 options: A) 3.76 B) 5.17 C) 0.27 D) 17.30
- Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $475,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $195,400 Dec. 31,2018 Cash $347,450 Accounts Receivable 39,750 Inventory 33,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $22,000 were declared and paid Cash Flow from Financing Activities: $Dividends Paid I just need the answer on dividends answer box?Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $475,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $195,400 Dec. 31,2018 Cash $347,450 Accounts Receivable 39,750 Inventory 33,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $22,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia CompanyStatement of…Use the following information from Eiffel Company's financial statements. 2018 Income Balance Statement Sheets Sales $309,000 Cost of Goods Sold (145,000) Operating Expenses, other than Depreciation Expense (27,000) Depreciation expense (15,000) Gain on Sale of Plant Assets 18,000 Net Income $140,000 Dec. 31,2018 Accounts Receivable $47,300 Inventory 1,600 Accounts Payable 24,500 Accured Liabilities 900 Dec. 31, 20O17 Accounts Receivable $23,250 Inventory 1,800 Accounts Payable 23,250 Accured Liabilities 1,150 Prepare the operating activities section of the statement of cash flows (indirect method) for tlte year 2018. U cash or cash payments. Eiffel Company
- Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $ 1,800.0 $ 1,500.0 Operating costs excluding depreciation and amortization 1,395.0 1,275.0 EBITDA $ 405.0 $ 225.0 Depreciation and amortization 43.0 39.0 Earnings before interest and taxes (EBIT) $ 362.0 $ 186.0 Interest 40.0 33.0 Earnings before taxes (EBT) $ 322.0 $ 153.0 Taxes (40%) 128.8 61.2 Net income $ 193.2 $ 91.8 Common dividends $ 174.0 $ 73.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash and equivalents $ 23.0 $ 18.0 Accounts receivable 248.0 225.0 Inventories 396.0 360.0 Total current assets $ 667.0 $ 603.0 Net plant and equipment 429.0 390.0 Total assets $ 1,096.0 $ 993.0 Liabilities and Equity Accounts…Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (58,600) Depreciation Expense (20,000) Gain on Sale of Plant Assets 23,500 Net Income $178,400 Dec. 31,2018 Cash $329,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $24,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia CompanyStatement of…Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (58,600) Depreciation Expense (20,000) Gain on Sale of Plant Assets 23,500 Net Income $178,400 Dec. 31,2018 Cash $329,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $24,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia CompanyStatement of…
