Crane Company's income statement for the year ended December 31, 2025, contained the following condensed information. Service revenue Operating expenses (excluding depreciation) $621,000 Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income $849,000 60,000 27,000 708,000 141,000 40,000 $101,000 Crane's balance sheet contained the following comparative data at December 31. 2025 2024 Accounts receivable $36,000 $52,000 Accounts payable 43,000 32,000 Income taxes payable 4,100 8.200 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method. CRANE COMPANY Partial Statement of Cash Flows

Oriole Company's income statement contained the following condensed information ORIOLE COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $624.500 Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 $74,400 40.300 Oriole's balance sheets contained the comparative data at December 31, shown below. 12.900 2021 54,600 $61000 27.000 6.400 24.100 $972,000 703,200 268,800 40,100 $228.700 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15.000 or in parenthesis e.g. (15.000))

The income statement of Price Ltd for the year ended 31 December 2020, reported the following condensed information: Revenue from fees                                    $600,000 Operating expenses              360,000 Income from operations      240,000 Income tax expense              60,000 Net income                                                                      $180,000   Price's balance sheet contained the following comparative data at December 31:                                                  2020                                     2019 Accounts receivable       $50,000                               $45,000 Accounts payable           35,000                                   41,000 Income taxes payable    6,000                                       3,000   Price has no depreciable assets. Accounts payable pertains to operating expenses.     Required: (a) Calculate: Cash receipts from customers.  Cash payments for operating expenses.  (b) Prepare the operating activities…

Provided below are the financial statements for J Ltd.: Income statement Balance Sheet Net sales $984 2021 2020 Assets Cost of goods sold $752 Current assets $452 $354 Depreciation $27 Long-term assets $389 $374 EBIT $205 Total assets $841 $728 Interest expense $25 Liabilities and shareholders' equity Current liabilities $247 $164 Income before taxes $180 Long-term debt $157 $145 Taxes $27 Shareholders' equity $437 $419 Net income $153 Total liabilities and shareholders' equity $841 $728 Calculate economic value added (EVA), assuming cost of capital is 7.5%. (Round all the intermediate calculations and the final answer to 2 decimal places) $131.95 $135.70 $98.40 $129.70

he current sections of Skysong, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here.Skysong’s net income for 2022 was $152,700. Depreciation expense was $27,600.     2022   2021 Current assets            Cash   $107,600   $95,900    Accounts receivable   78,400   89,400    Inventory   167,800   172,100    Prepaid expenses   26,800   22,000       Total current assets   $380,600   $379,400 Current liabilities            Accrued expenses payable   $15,800   $8,600    Accounts payable   84,900   95,500       Total current liabilities   $100,700   $104,100 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, 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).)

Concord Ltd. had the following 2023 income statement data: Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,900) Income before income taxes Income taxes Net income $207,500 (a) 119,000 88,500 48,000 40,500 16,000 $24,500 The following accounts increased during 2023 by the amounts shown: Accounts Receivable, $15,900; Inventory, $10,800; Accounts Payable (relating to inventory), $13,900; Taxes Payable, $2,200; and Mortgage Payable, $40,500. Prepare the cash flows from operating activities section of Concord's 2023 statement of cash flows using the indirect method and following IFRS. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows Indirect Mothed)

PARNELL COMPANY Income Statement For the Year Ended December 31, 2024 ($ in thousands) Revenues and gains:     Sales $ 790   Gain on sale of building 10 $ 800 Expenses and loss:     Cost of goods sold $ 295   Salaries 119   Insurance 39   Depreciation 122   Interest expense 49   Loss on sale of equipment 12 636 Income before tax   164 Income tax expense   82 Net income   $ 82 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands)   Year Change 2024 2023 Cash $ 133 $ 101 $ 32 Accounts receivable 323 217 106 Inventory 322 424 (102) Prepaid insurance 67 87 (20) Accounts payable 209 118 91 Salaries payable 104 94 10 Deferred tax liability 62 53 9 Bond discount 188 201 (13)   Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. 2. Prepare the cash flows from operating activities…

The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company. Additional information from Wright's accounting records is provided also.  WRIGHT COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands)   2021   2020   Assets                 Cash $ 116     $ 95     Accounts receivable   136       140     Short-term investment   47       14     Inventory   137       135     Land   102       125     Buildings and equipment   695       530     Less: Accumulated depreciation   (193 )     (140 )     $ 1,040       899     Liabilities                 Accounts payable $ 40     $ 48     Salaries payable   2       6     Interest payable   8       5     Income tax payable   5       10     Notes payable   0       33     Bonds payable   296       230     Shareholders’ Equity                 Common stock   390       330     Paid-in capital—excess of par   187       165…

Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $157,080 Interest expense 27,720 Average total assets 2,800,000 Determine the return on total assets? If required, round the answer to one decimal place.

The current sections of Crane Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Crane’s net income for 2022 was $154,700. Depreciation expense was $26,300.     2022   2021 Current assets            Cash   $102,700   $97,700    Accounts receivable   79,400   90,000    Inventory   168,200   173,000    Prepaid expenses   26,900   22,900       Total current assets   $377,200   $383,600 Current liabilities            Accrued expenses payable   $15,000   $9,300    Accounts payable   84,000   95,600       Total current liabilities   $99,000   $104,900 Prepare the operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method