Financial statement data for years ending December 31 for Davenport Company follows: _________________________2016 _____________2015 Sales ……………………. $1,668,000 ………….. $1,125,000 Fixed assets: Beginning of year …………. 670,000 ……………… 580,000 End of year ……………….. 720,000 ………………. 670,000 a. Determine the fixed asset turnover ratio for 2016 and 2015. b. Does the change in the fixed asset turnover ratio from 2015 to 2016 indicate a favorable or an unfavorable trend? View Solution: Financial statement data for years ending December 31 for Davenport

The income statement of Metallic Item Inc., is as follows:                    Metallic Item               Income Statement For the Month Ended April 30, 2014   Revenue          Service Revenue............................................................................                      $9,500 Expenses          Salaries and Wages Expense.........................................................     $4,200          Depreciation Expense.....................................................................          350          Utilities Expense.............................................................................           400          Rent Expense.................................................................................           600          Supplies Expense...........................................................................        1,050                  Total Expenses........................................................................…

Calculate liquidity measures The following amounts were reported on theDecember 31, 2013, balance sheet: Cash.......................................... $ 8,000Accounts receivable .................. 22,000Common stock ......................... 40,000Wages payable ......................... 5,000Retained earnings ..................... 80,000Land .......................................... 20,000Accounts payable ..................... $ 15,000Bonds payable .......................... 120,000Merchandise inventory .............. 30,000Buildings and equipment, net ofaccumulated depreciation ..... 180,000 Required:a. Calculate working capital at December 31, 2013.b. Calculate the current ratio at December 31, 2013.c. Calculate the acid-test ratio at December 31, 2013.

For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income Statement: McDade CompanyComparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1   20Y2 20Y1 Sales.......................... $16,800,000 $15,000,000 Cost of goods sold.............. 11,500,000 10,000,000 Gross profit.................... $ 5,300,000 $ 5,000,000 Selling expenses............... $ 1,770,000 $ 1,500,000 Administrative expenses........ 1,220,000 $ 1,000,000 Total operating expenses....... $ 2,990,000 $ 2,500,000 Income from operations........ $ 2,310,000 $ 2,500,000 Other revenue................. 256,950 225,000 Income before income tax...... $ 2,566,950 $ 2,725,000 Income tax expense............ 1,413,000 1,500,000 Net income.................... $ 1,153,950 $ 1,225,0000 Instructions1. Prepare a comparative income statement with horizontal analysis for the…

10 - T&T Company's selected financial statements items are given as following. Total net sales equals to 100.000 TL, COGS equals to 50.000 TL, operating expenses equals to 20.000 TL, interest expenses equals to 10.000 TL, tax expenses 5.000 TL, total depreciation & amortization expenses equals to 15.000 TL. Calculate the EBITDA/Interest Expense ratio of the company for the year 2020. a) 2,50 b) O 01374 3,00 c) O 4,50 d) 5,00

Silver Diamond Company's Profit before interest and tax is OMR 360,000, the total of assets is OMR 900,000 and total of current liabilities is OMR 500,000. The Return on Capital employed (ROCE) of the company is: a. 40% b. 25.71% c. 90% d. 111.11%

The comparative balance sheet for Proctor Precision appears below:   PROCTOR PRECISION Comparative Balance Sheet Dec. 31, 2017Dec. 31, 2016 Assets Cash................................................$30,500$6,000 Accounts receivable...................................2,5004,000 Inventory............................................5,5003,500 Prepaid expenses.....................................1,0001,500 Building.............................................10,00010,000 Accumulated depreciation—building.......................   (1,500)   (1,000) Total assets..........................................$48,000$24,000   Liabilities and Stockholders' Equity   Accounts payable.....................................$  1,000$  2,000 Long-term note payable................................6,5007,000 Common stock........................................19,0009,000 Retained earnings.....................................  21,500  6,000 Total liabilities and stockholders'…