Following are the income statement and balance sheet items for Faison Corporation from the company’s books and records at the end of fiscal year-end 20x1:   ($ millions)   Contributed capital $1,702 Cost of sales 13,567 Cash 1,393 Long-term liabilities 3,719 Accounts receivable 2,662 Other current assets 604 Other long-term assets 2,079 Other current liabilities 1,299 Other operating expenses 1,212 Other non-operating expenses 161 Inventory 1,093 Accounts payable 2,595 Property, net 3,216 Retained earnings 1,209 Sales 16,463 Tax expense 256 Equity income, net of tax 34 Other equity 523   Required: Using the information above, prepare the company’s year-end income statement and a balance sheet.

Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (4,000 shares) Retained earnings Common equity Total llabilities and equity Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization EBIT Interest EBT Taxes (25%) Net Income Dividends pald Income Statement for Year Ending December 31, 2021 2021 Balances, 12/31/20 2021 Net Income Cash Dividends Addition to retained earnings Balances, 12/31/21 $ 15,000 35,000 34,190 $ 84,190 48,000 $132,190 $ 10,100 7,300 6,200 $ 23,600 15,000 $ 38,600 60,000 33,590 $ 93,590 $132,190 c. Construct Arlington's 2021 statement of stockholders' equity. Shares $ 2020 $ 13,000 30,000 28,000…

The following are selected account balances of Rule Corporation at the end of the current year: Debit Credit Operating Expenses $3,200 Sales Revenue $17,780 Cost of Goods Sold 8,500 Interest Expense 790 Gain on Sale of Land 590 Rule is subject to a 30% income tax rate, and shareholders own 1,200 shares of its capital stock. Required: Prepare the income statement for Rule. RULE CORPORATION Income Statement For the Year Ended December 31, Current Year Other items: Earnings per share

Cold Duck Manufacturing Inc. has the following end-of-year balance sheet: Cold Duck Manufacturing Inc. Balance Sheet For the Year Ended on December 31 Assets   Liabilities   Current Assets:   Current Liabilities:   Cash and equivalents $150,000 Accounts payable $250,000 Accounts receivable 400,000 Accrued liabilities 150,000 Inventories 350,000 Notes payable 100,000 Total Current Assets $900,000 Total Current Liabilities $500,000 Net Fixed Assets:   Long-Term Bonds 1,000,000 Net plant and equipment(cost minus depreciation) $2,100,000 Total Debt $1,500,000     Common Equity       Common stock 800,000     Retained earnings 700,000     Total Common Equity $1,500,000 Total Assets $3,000,000 Total Liabilities and Equity $3,000,000   The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Cold Duck Manufacturing Inc. generated $350,000 net income on sales of…

Below is the financial information for AXZ Corporation for fiscal year-ending June 30, 2020.   (Amounts in millions $s)   Cash flows from operations $2,908.3 Total revenues 14,892.2 Shareholders’ equity 4,482.3 Cash flows from financing (110.0) Total liabilities 7,034.4 Cash, ending year 2,575.7 Expenses 14,883.4 Noncash assets 8,941.0 Cash flows from investing (1,411.2) Net earnings 8.8 Cash, beginning year 1,188.6   Required: Using the information above, prepare the company’s: Balance sheet as of June 30, 2020. Income Statement for the fiscal year ended June 30, 2020. Cash Flow Statement for the fiscal year ending June 30, 2020.

You are provided with the following information taken from Splish Brothers Inc.’s March 31, 2022, balance sheet. Cash   $ 12,330 Accounts receivable   20,370 Inventory   36,900 Property, plant, and equipment, net of depreciation   120,500 Accounts payable   22,640 Common stock   153,800 Retained earnings   12,460 Additional information concerning Splish Brothers Inc. is as follows. 1.   Gross profit is 26% of sales.     2.   Actual and budgeted sales data:         March (actual)   $47,000     April (budgeted)   73,100   3.    Sales are both cash and credit. Cash collections expected in April are:     March   $18,800   (40% of $47,000)     April   43,860   (60% of $73,100)         $62,660       4.    Half of a month’s purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are:     Purchases March $22,640…

Consider the following statement of comprehensive Income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets $2,500 7,862 EFN Assets DARTMOOR CORPORATION Statement of Financial Position $ 2,950 4,100 6,400 $13,458 $41,300 $54,750 31,300 $15,700 5,338 $10,362 Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a constant payout ratio. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign In your response.) Current liabilities Accounts payable Notes payable Total Long-term…

Portions of the financial statements for Parnell Company are provided below.  PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains:             Sales $ 750         Gain on sale of building   11   $ 761   Expenses and loss:             Cost of goods sold $ 275         Salaries   115         Insurance   35         Depreciation   118         Interest expense   45         Loss on sale of equipment   13     601   Income before tax         160   Income tax expense         80   Net income       $ 80       PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands)   Year         2021     2020   Change Cash $ 129   $ 105   $ 24   Accounts receivable   319     221     98   Inventory   326     420     (94 ) Prepaid insurance   71     83     (12 ) Accounts payable   205     122     83   Salaries payable   112     98     14…

Presented below is selected financial data for Teague Industries for the current year: Current assets: ​ Current liabilities ​ Cash and cash equivalents $3503​ Accounts payable $5385​ Short-term investments 1555​ Other current liabilities 2892​ Receivables, net 1811​ Total current liabilities 8277​ Merchandise inventories 6205​ Noncurrent liabilities 5196​ Other current assets 1975​ Shareholders' Equity 6250​ Total current assets ​ 15,049 ​ Total liabilities and shareholders' equity $19,723​ Noncurrent assets 4674​ ​ ​ Total assets $19,723​ ​ ​ ​ ​ ​ ​ Revenues $50,826 ​ ​ Costs and Expenses 45,963 ​ ​ Operating Income 4,863 ​ ​ Other income/expense (including interest expense of $60) (36) ​ ​ ​ Income before income tax 4827​ ​ ​ Income tax expense (1449) ​ ​ Net income $3378​ ​ ​ Previous Years' Financial Data Total Assets $17,020​ Shareholders' Equity 4000​ The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)

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