Condensed financial data of Novak Company for 2020 and 2019 are presented below. NOVAK COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019     2020   2019 Cash   $1,830     $1,180   Receivables   1,710     1,320   Inventory   1,590     1,920   Plant assets   1,890     1,710   Accumulated depreciation   (1,220 )   (1,190 ) Long-term investments (held-to-maturity)   1,320     1,440       $7,120     $6,380                 Accounts payable   $1,190     $890   Accrued liabilities   210     260   Bonds payable   1,400     1,580   Common stock   1,940     1,660   Retained earnings   2,380     1,990       $7,120     $6,380     NOVAK COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue   $6,720 Cost of goods sold   4,680 Gross margin   2,040 Selling and administrative expenses   920 Income from operations   1,120 Other revenues and gains        Gain on sale of investments   80 Income before tax   1,200 Income tax expense   550 Net income   650 Cash dividends   260 Income retained in business   $390 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOVAK COMPANY Statement of Cash Flows choose the accounting period                                                            (Indirect Method) select an opening name for section one                                                                select an item                                                              $enter a dollar amount  Adjustments to reconcile net income to     select a subsection name                                                                select an item                                                            $enter a dollar amount    select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount       enter a subtotal of the adjustments select a closing name for section one                                                              enter a total amount for section one       select an opening name for section two                                                                select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount   select a closing name for section two                                                              enter a total amount for section two       select an opening name for section three                                                                select an item                                                            enter a dollar amount   select an item                                                            enter a dollar amount

Presented below are data taken from the records of Wildhorse Company.     December 31,2020   December 31,2019 Cash   $15,200   $8,100 Current assets other than cash   84,700   60,600 Long-term investments   10,000   52,900 Plant assets   332,400   215,200     $442,300   $336,800           Accumulated depreciation   $20,100   $40,100 Current liabilities   39,600   22,100 Bonds payable   74,800   –0– Common stock   254,500   254,500 Retained earnings   53,300   20,100     $442,300   $336,800 Additional information: 1.   Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2.   Plant assets that cost $50,500 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3.   Net income as reported on the…

2. Calculate each ratio for Company A using the 2020 information from the balance sheets and income statements given below. Current Ratio Quick Ratio Debt/Equity Times Interest Earned Inventory Turnover Return on Assets (ROA) Return on Equity (ROE) Market-to-book Ratio Company A Consolidated Balance Sheet (in thousands) December 31 2020 2019 Assets Current Assets: Cash and Cash Equivalents $380,626 $349,953 Accounts Receivable, net $80,545 $62,312 Inventory $30,096 $21,555 Prepaid Expenses and other current assets $57,076 $54,129 Total Current Assets $548,343 $914,794 Property and Equipment $1,458,690 $1,379,254 Operating Lease Assets $2,800,222 $1,258,293

Here is financial information for Sheridan Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Assets Current assets Plant assets (net) Total assets December 31, 2022 Liabilities $123,000 395,300 89,279 130,592 166,959 131,470 2022 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) $123,000 December 31, 2021 395,300 $100,000 335,000 73,000 88,000 117,000 157,000 2021 SHERIDAN INC. Condensed Balance Sheets December 31 $100,000 335,000 $518,300 $435,000 Increase or (Decrease) Amount Percentage % % %

Wildhorse Inc., had the following condensed balance sheet at the end of operations for 2019. Cash Current assets other than cash Equity invesments Plant assets (net) Land 1. During 2020, the following occurred. 2. 3. 4. 5. 6. 7. WILDHORSE INC. BALANCE SHEET DECEMBER 31, 2019 $8,400 28,800 8. 20,000 67,100 40,300 $164,600 Current liabilities Long-term notes payable Bonds payable Common stock Retained earnings A tract of land was purchased for $8,900. Bonds payable in the amount of $15,000 were redeemed at par. An additional $9,900 in common stock was issued at par. Dividends totaling $9,400 were paid to stockholders. Net income was $30,600 after allowing depreciation of $13,300. Land was purchased through the issuance of $22,800 in bonds. $15,200 25,500 25,000 75,000 23,900 $164,600 Wildhorse Inc. sold part of its investment portfolio for $12,900. This transaction resulted in a gain of $1,900 for the company. No unrealized gains or losses were recorded on these investments in 2020. Both…

10. Comparative balance sheet accounts of Sage Inc. are presented below. SAGE INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019     December 31 Debit Accounts   2020   2019 Cash   $42,400   $33,800 Accounts Receivable   70,500   59,700 Inventory   30,300   24,200 Equity investments   22,100   38,300 Machinery   30,200   18,500 Buildings   67,500   55,800 Land   7,400   7,400     $270,400   $237,700           Credit Accounts         Allowance for Doubtful Accounts   $2,300   $1,500 Accumulated Depreciation—Machinery   5,500   2,300 Accumulated Depreciation—Buildings   13,500   8,900 Accounts Payable   34,700   24,700 Accrued Payables   3,300   2,700 Long-Term Notes Payable   20,800   31,000 Common Stock, no-par   150,000   125,000 Retained Earnings   40,300   41,600     $270,400   $237,700 Additional data (ignoring taxes): 1.   Net income…

Problem 17-2A (Algo) Ratios, common-size statements, and trend percer [The following information applies to the questions displayed below.] 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 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 $546,242 328,838 217,404 77,566 49,162 126,728 90,676 16,866 $ 73,810 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 418,466 263,634 2021 % 154,832 57,748 36,825 94,573 60, 259 12,353 $ 47,906 % $61,141 0 113,547…

Prepare a financial statement analysis in terms of liquidity, solvency, profitability and efficiency of the following company. Financial Ratios Fiscal Year Ended Previous Fiscal Year Formula Dec 31, 2019 Dec 31, 2018 Liquidity Analysis Ratios: Current Assets / Current Liabilities Current Ratio or 1.46 1.36 Working Capital Ratio (Current Assets - Inventory - Prepayments) / Current Liabilities Quick Ratio 0.96 0.86 Solvency Ratio Total Assets / Total Liabilities 1.46 1.44 Financial Leverage Ratios Debt Ratio Total Debt/Total Assets 0.47 0.48 Total Debt/Total Stockholders Equity Debt-to-Equity Ratio 1.48 1.57 Earnings Before Interest and Taxes (EBIT) / Interest Charges Total Assets / Total Stockholders' Equity Interest Coverage 2.38 2.61 Asset to Equity Ratio 3.16 3.28 Profitability Ratios Gross Profit Margin Sales - Cost of Goods Sold or Cost of Service / Sales 19.76 19.43 Net Profit Margin Net Profit / Sales 11.34 11.42 Net Income / Total Assets 2.67 2.9 Return on Assets Net Income /…

PERFORM A LIQUIDITY AND PROFITABILITY ANALYSIS ON THE FOLLOWING COMPANY UTILIZING THE FOLLOWING RATIOS: ASSET TURNOVER RETURN ON ASSESTS 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 (192,962,000) (177,619,000) Loss on extinguishment of debt (37,399,000)   Other income (expense), net (460,000) 369,000 Loss before income…