CH2Q2 BALANCE SHEET The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Green Caterpillar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Green Caterpillar Garden Supplies Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Assets Current assets: Cash and equivalents Accounts receivable Inventories Total current assets. Net fixed assets: Net plant and equipment Total assets Year 2 Q1 1,266 3,712 $8,437 Q7 This statement is false, because: Q8 Q3 $18,750 Year 1 Q9 This statement is incorrect , because: Q10 Liabilities and equity Current liabilities: Accounts payable Accruals 2,970 Notes payable $6,750 Total current liabilities $2,767 1,013 $8,250 Long-term debt Total debt Common equity: Common stock. Retained earnings Statement #1: Green Caterpillar's accumulated owed financial obligations decreased from Year 1 to 2. Q5 This statement is false, because: Q6 Ao Accruals actually increased from $0 in Year 1 to $176 million at the end of Year 2. BO Long-term debt decreased from $996 million at the end of Year 1 to $937 million by the end of Year 2. The accounts payable account remained $0 for both Years 1 and 2. Year 2 $0 176 996 Q2 3,515 $4,687 9,141 Total common equity $14,063 $15,000 Total liabilities and equity $18,750 Y Q4 - Year 1 $0 0 937 $937 Given the information in the preceding balance sheet-and assuming that Green Caterpillar Garden Supplies Inc. has 50 million shares of common stock outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. 2,813 $3,750 7,313 3,937 $11,250 $15,000 Statement #2: On December 31 of Year 2, Green Caterpillar Garden Supplies Inc. had $3,459 million of actual money that it have spent immediately. Q2: $1,465 or $1,172 or $1,758 Q3: $10313 or $17484 or $15780 AO The funds recorded in Green Caterpillar's accounts receivable account represents funds that are either cash or can be converted into cash almost immediately. Bo Green Caterpillar's Year 2 cash and equivalents balance is $8,707 million. Co The funds recorded in Green Caterpillar's cash and equivalents account represents funds that are either cash or can be converted into cash almost immediately. Statement #3: One way to interpret the change in Green Caterpillar's accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts. AO The $253 million increase in accounts receivable means either that Year 1's existing credit customers are not paying off their owed balances and new or existing customers are making additional purchases on credit, or that Year 1's credit customers have repaid their owed balances and Year 2 credit sales have exceeded Year 1's credit sales. Q4: $4922 or $3937 or $18563 Q1: $3,459 or $9,196 or 10,883 Bo The decrease from $1,266 million to $1,013 million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit. Co The change from $2,970 million to $3,712 million reflects a net accumulation of new credit sales. Q11: remain the same or decrease or increase Based on your understanding of the different items reported on the balance sheet and the information they provide, if everything else remains the Q11 same, then the cash and equivalents item on the current balance sheet is likely to if the firm increases the dividends paid on its common stock.

Perform a liquidity and profitability analysis on your company utilizing the ratios listed below. Quick Ratio, Receivable Turnover, Days sales uncollected, inventory turnover, Days inventory on hand, payable turnover, days payable, asset turnover, return on assets, and return on equity.   statement of operations 12 Months Ended Jul. 31, 2020 Jul. 31, 2019 Revenues:     Revenues  $ 1,497,826,000  $ 1,684,392,000 Costs and expenses:     Operating expense - personnel, vehicle, plant and other 493,055,000 468,868,000 Operating expense - equipment lease expense 33,017,000   Equipment lease expense, preadoption   33,073,000 Depreciation and amortization expense 80,481,000 78,846,000 General and administrative expense 45,752,000 59,994,000 Non-cash employee stock ownership plan compensation charge 2,871,000 5,693,000 Asset impairments 0 0 Loss on asset sales and disposals 7,924,000 10,968,000 Operating income 148,670,000 113,028,000 Interest expense…

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Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corporation. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. BALANCE SHEET Payables $ 35 Inventories $ 50 Less accumulated depreciation 120 Receivables 35 Total current assets Total current liabilities Long-term debt $ 350 Interest expense $25 Property, plant, and equipment 520 Total liabilities Net fixed assets Shareholders' equity $90 Total assets Total liabilities and shareholders' equity INCOME STATEMENT Net sales $700 Cost of goods sold 580 Selling, general, and administrative expenses 38 EBIT Debt due for repayment $ 25 Cash 15 Taxable income Federal plus other taxes $ 15 Depreciation 12 Net income Prepare the balance sheet and income statement by rearranging the above items. Note: Be sure to…

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Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow.   Current Year Previous Year Accounts payable $79,375 $63,500 Long-term debt 43,741 52,700 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers.

Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corp. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability.   BALANCE SHEET Payables $ 39   Inventories $ 54   Less accumulated depreciation   124   Receivables   55   Total current assets       Total current liabilities       Long-term debt $ 370   Interest expense $ 29   Property, plant, and equipment   540   Total liabilities       Net fixed assets       Shareholders’ equity $ 106   Total assets       Total liabilities and shareholders’ equity           INCOME STATEMENT Net sales $ 740   Cost of goods sold   600   Selling, general, and administrative expenses   42   EBIT       Debt due for repayment $ 29   Cash   19   Taxable income       Taxes $ 19…