Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash $3 $ 6 Accounts receivable 22 24 Inventory 50 40 Total current assets 75 70 240 200 65 50 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets 175 150 $ 250 $ 220 Liabilities and Stockholders' Equity Accounts payable Common stock $ 40 $36 150 145 Retained earnings 60 39 Total liabilities and stockholders' equity $ 250 $ 220 For this year, the company reported net income as follows: Sales $ 275 Cost of goods sold 150 Gross margin 125 Selling and administrative expenses 90 Net income $ 35 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equip company did not repurchase any of its own stock this year. Required: Using the direct method, convert the company's income statement to a cash basis. (Adjustment amount should be indicated with a minus sign.)

Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 64 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1        20Y2      20Y1 Retained earnings, January 1 $ 3,099,650   $ 2,623,250   Net income 681,600   537,300   Total $ 3,781,250   $ 3,160,550   Dividends           On preferred stock $ 9,100   $ 9,100     On common stock 51,800   51,800       Total dividends $ 60,900   $ 60,900   Retained earnings, December 31 $ 3,720,350   $ 3,099,650   Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1        20Y2      20Y1 Sales $ 4,210,640   $ 3,879,520   Cost of goods sold 1,554,900   1,430,510   Gross profit $ 2,655,740   $ 2,449,010   Selling expenses $ 893,140   $ 1,089,600   Administrative expenses 760,830…

Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:   Current Year   Previous Year Current assets:             Cash $308,600     $240,000     Marketable securities 357,300     270,000     Accounts and notes receivable (net) 146,100     90,000     Inventories 689,000     427,000     Prepaid expenses 355,000     273,000       Total current assets $1,856,000     $1,300,000   Current liabilities:             Accounts and notes payable           (short-term) $336,400     $350,000     Accrued liabilities 243,600     150,000       Total current liabilities $580,000     $500,000     a.  Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.       Current Year     Previous Year 1.  Working capital $fill in the blank 1 $fill in the blank 2 2.  Current ratio fill in the blank 3 fill in the blank 4 3.…

Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1        20Y2      20Y1 Retained earnings, January 1 $ 1,024,550   $ 869,250   Net income 233,600   178,000   Total $ 1,258,150   $ 1,047,250   Dividends           On preferred stock $ 7,700   $ 7,700     On common stock 15,000   15,000       Total dividends $ 22,700   $ 22,700   Retained earnings, December 31 $ 1,235,450   $ 1,024,550   Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1        20Y2      20Y1 Sales $ 1,456,350   $ 1,341,770   Cost of goods sold 520,490   478,850   Gross profit $ 935,860   $ 862,920   Selling expenses $ 319,920   $ 392,750   Administrative expenses 272,520   230,660   Total…