Green Caterpillar Garden Supplies Inc. has the following end-of-year balance sheet: Green Caterpillar Garden Supplies Inc. Balance Sheet For the Year Ended on December 31 Assets Liabilities Current Assets: Current Liabilities: Cash and equivalents Accounts payable Accounts receivable Accrued liabilities Inventories: Total Current Assets Net Fixed Assets: Net plant and equipment (cost minus depreciation) Total Assets, $150,000 400,000 350,000 $900,000 $2,100,000 $3,000,000 Notes payable D Total Current Liabilities Long-Term Bonds Total Debt Common Equity Common stock Retained earnings Total Common Equity Total Liabilities and Equity $250,000 150,000 100,000 $500,000 1,000,000 $1,500,000 800,000 700,000 $1,500,000 $3,000,000
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- The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were $34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts receivable Inventories End a. $370,545 b. $208,919 c. $347,601 Od. $278,217 $47,146 124,126 102,601 4,506 45,924 Beginning $57,260 104,236 93,932 7,914 66,937 Prepaid expenses Accounts payable (merchandise creditors) What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?Green Moose Industries has the following end-of-year balance sheet: Green Moose Industries Balance Sheet For the Year Ended on December 31 Assets Liabilities Current Assets: Current Liabilities: Accounts payable Accrued liabilities. Notes payable Total Current Liabilities Cash and equivalents Accounts receivable Inventories Total Current Assets Net Fixed Assets: Net plant and equipment (cost minus depreciation) Total Assets O $64,000 $150,000 400,000 350,000 $900,000 O $57,600 Long-Term Bonds O $54,400 $2,100,000 Total Debt O $51,200 Common Equity Common stock Retained earnings Total Common Equity $3,000,000 Total Liabilities and Equity 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, Green Moose Industries generated $400,000 net income on sales of $13,500,000. The firm expects sales to increase by 16% this coming year and also expects to maintain its long-run dividend payout ratio of…The net income reported on the income statement for the current year was $313,659. Depreciation recorded on fixed assets and amortization of patents for the year were $38,968, and $9,722, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $42,392 $55,782 Accounts receivable 126,305 101,016 Inventories 100,582 80,433 Prepaid expenses 4,060 7,575 Accounts payable (merchandise creditors) 50,302 78,390 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $214,402 Ob. $432,360 Oc. $412,916 Od. $292,338
- If Net Working Capital Current Assets - Current Liabilities, what is Kelley Corp's net working capital for the year ending December 31, 2023, given the following account balances? Accounts Receivable: $40 Equipment: $20 Accumulated Depreciation: $10 Patent: $50 Inventory: $15 Accounts payable: $30 Goodwill: $65 Long-term note payable: $70 =The net income reported on the income statement for the current year was $281,847. Depreciation recorded on fixed assets and amortization of patents for the year were $32,101 and $10,127, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $37,628 $62,683 Accounts Receivable 120,761 105,004 Inventories 105,470 86,078 Prepaid Expenses 4,242 8,185 Accounts Payable (merchandise creditors) 47,812 74,478 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a.$351,049 b.$288,926 c.$266,203 d.$255,489The net income reported on the income statement for the current year was $256,674. Depreciation recorded on fixed assets and amortization of patents for the year were $30,601 and $9,816, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $47,547 $67,419 Accounts Receivable 120,692 102,958 Inventories 101,043 92,516 Prepaid Expenses 3,347 6,561 Accounts Payable (merchandise creditors) 49,242 66,779 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a. $327,049 b. $270,830 c. $256,507 d. $251,558
- Account MNO Corporation had the following information regarding its fixed assets: Beginning of the year: $500,000Additions during the year: $100,000Disposals during the year: $50,000Accumulated depreciation at the beginning of the year: $200,000Depreciation expense for the year: $50,000Calculate the net book value of fixed assets at the end of the year.The net income reported on the income statement for the current year was $315,287. Depreciation recorded on fixed assets and amortization of patents for the year were $40,641, and $10,191, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors) End Beginning $37,456 $65,345 121,519 101,361 109,151 93,765 3,426 57,828 6,921 64,298 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a. $404,638 b. $246,318 c. $327,600 d. $384,256Financial Information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) Interest Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Earnings before taxes (EBT) Taxes (25%) Net Income Common dividends Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars) 2020 2021: $ b. What was the 2021 free cash flow? 2021 $3,300.0 2,805.0 $495.0 $ 2020 $3,000.0 2,550.0 $450.0 72.0 $378.0 66.0 $312.0 124.8 $187.2 $181.6 $149.8 -Select- 86.0 $ 409.0 72.6 $ 336.4 134.6 $201.8 2021 50.0 $ 483.0 725.0 $1,258.0 864.0 $2,122.0 $264.0 225.0 Notes payable 66.0 Total current liabilities $ 555.0 Long-term bonds 660.0 Total liabilities…
- Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earningsUsing the following information, determine the net operating income (NOI) for the first year of operations of the subject property using "above-line" treatment of capital expenditures. Subject Property Number of apartments Market rent (per month) Vacancy and collection losses Operating expenses Capital expenditures O $135,000 $162,000 $137.700 $153,900 15 1000 10% of PGI 5% of EGI 10% of EGICondensed financial data of Waterway Company for 2020 and 2019 are presented below. WATERWAY COMPANYCOMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,820 $1,130 Receivables 1,730 1,280 Inventory 1,590 1,870 Plant assets 1,940 1,690 Accumulated depreciation (1,220 ) (1,180 ) Long-term investments (held-to-maturity) 1,300 1,450 $7,160 $6,240 Accounts payable $1,200 $920 Accrued liabilities 190 230 Bonds payable 1,430 1,530 Common stock 1,930 1,710 Retained earnings 2,410 1,850 $7,160 $6,240 WATERWAY COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,840 Cost of goods sold 4,630 Gross margin 2,210 Selling and administrative expenses 930 Income from…