Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,000 $ 41,000 33,000 Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity 41,000 199,000 198,000 118,000 111,000 431,000 419,000 250,000 232,000 36,000 Net income 31,000 Stealth Company's 2021 receivables turnover ratio is:

elected items from Lemus Enterprises 12-31-2019 and 12-31-2018, financial statements are presented below:   2019   2018 Accounts receivable $ 40,000     $ 36,000   Merchandise inventory $ 28,000       35,000   Net sales   190,000       186,000   Cost of goods sold   114,000       108,000   Total assets   425,000       405,000   Total shareholders' equity   240,000       225,000   Net income   32,500       28,000   Lemus's 2019 asset turnover is (rounded): Group of answer choices 3.73. 2.79. 2.24. 0.46.

Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOM Income Statement For the Year Ended December 31, 2021 Revenues $619,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses $366,000 119,000 33,000 50,500 568,500 $ 50,500 Net Income HORIZON TELECOM Selected Balance Sheet Data December 31, 2021 Increase in accounts receivable Increase in inventory Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in income tax payable $ 4,500 12,300 9,200 5,200 7,500 20,300 Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.) HORIZON TELECOM Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities:…

The following are financial statements of Carla Vista Co.. Carla Vista Co.Income StatementFor the Year Ended December 31, 2022 Net sales   $2,247,500 Cost of goods sold   1,018,500 Selling and administrative expenses   901,000 Interest expense   82,000 Income tax expense   75,000 Net income   $ 171,000   Carla Vista Co.Balance SheetDecember 31, 2022 Assets     Current assets       Cash   $ 56,300   Debt investments   81,000   Accounts receivable (net)   169,500   Inventory   118,900    Total current assets   425,700 Plant assets (net)   574,000 Total assets   $ 999,700 Liabilities and Stockholders’ Equity     Current liabilities       Accounts payable   $ 161,000   Income taxes payable   37,000    Total current liabilities   198,000 Bonds payable   201,880    Total liabilities   399,880 Stockholders’ equity       Common stock   355,000   Retained earnings   244,820…

The condensed income statement of Nestle Cereal Company is as follows: NESTLE CEREAL COMPANY Income Statements for the years Ended December 31 2020 2019 $ $ Revenue 11,776 10,907 Cost of sales 6,597 6,082 Gross profit 5,179 4,825 Selling and Administrative Expenses 3,311 3,059 PBIT 1,868 1,766 Interest Expense 321 294 PBT 1,547 1,472 Income Tax 444 468 Net Profit 1,103 1,004 Other Information Number of Ordinary Shares 418 418 Stock price at year end $52.92 $50.06 Calculate the following ratios for the year 2020 1. Price Earnings Ratio 2.Dividend Yield

Consider the following information for Handley Stores for 2020 and 2021: 2020 2021 Total assets $72,590,000 $68,832,000 Noninterest-bearing current liabilities 5,368,000 6,039,000 Net income 4,453,000 6,039,000 Interest expense 2,944,000 3,640,000 Sales 55,572,000 117,425,000 Tax rate 35% 35% X Your answer is incorrect. Compute ROI for both years. (Round answers to 2 decimal places, e.g. 15.32%.) 2020 2021 ROI 6.13 % 8.77 % * Your answer is incorrect. Break ROI down into profit margin and investment turnover. (Round answers to 4 decimal places, eg. 15.3215.) 2020 2021 Profit margin 8.01 5.14 Investment turnover 0.78 1.72

Memphis Co. reported the following information for 2021: Sales revenue:  $780,000 Interest revenue on note receivable:  $4,500 Cost of goods sold:  $525,000 Operating expenses:  $82,500 Gain on sale of equipment: $105,000 On a multiple-step income statement, Memphis would report other income of:   Question 14 options:   $109,500   $277,500   $4,500   $105,000   Super Ltd. reported the following select account balances in its trial balance as at December 31, 2020: Accounts receivable $ 150,000 Accounts payable 65,000 Accumulated depreciation 125,000 Cash 30,000 Equipment 250,000 Income tax payable 5,000 Inventory 95,000 Mortgage payable (in 5 years) 175,000 Common shares 200,000 What is Super Ltd.'s current ratio on December 31? Question 15 options:   3.93   1.63   4.23   1.46

Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead cost:         Indirect factory labor $44,800       Power and light 10,360       Indirect materials 21,000         Total variable overhead cost   $ 76,160 Fixed overhead cost:         Supervisory salaries $54,380       Depreciation of plant and equipment 14,310       Insurance and property taxes 26,710         Total fixed overhead cost   95,400 Total factory overhead cost   $171,560 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost:         Indirect factory labor $40,560…

Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:    2021 2020 Accounts receivable $82,000 $81,000 Inventory 90,000 73,000 Net sales 420,000 375,000 Cost of goods sold 260,000 221,000 Total assets 825,000 760,000 Total stockholders' equity 490,000 450,000 Net income 78,000 58,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.)   Multiple Choice   61.9%.   43.1%.   47.1%.   38.1%.

Condensed financial data are presented below for the Tulsa Corporation: Accounts receivable Inventory C. d. Total current assets Total assets Current liabilities Long-term liabilities Sales Cost of goods sold Interest expense Net income Tax rate 2021 $277,500 310,000 675,000 800,000 700,000 250,000 200,000 77,500 75,000 1,640,000 985,000 10,000 130,000 25% 2020 $230,000 250,000 565,000 The profit margin used to calculate return on assets for 2021 is (rounded): a. b. 8.9% 16.3% 17.2% 18.3%