in assets and liabilities, net of acquisitions: ease (increase) in receivables ease (increase) in inventories ease (decrease) in prepaid expenses ease (decrease) in controlled disbursements ease (decrease) in accounts payable ease (decrease) in accrued expenses ", net provided by operations 1: ported cost of goods sold of $167,514,150 in its fiscal 2021 income statem e year.
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- The following are financial data taken from the annual report of Foundotos Company: Year 2 $134,448 51,981 37,154 57,504 Net sales Gross property, plant and equipment Accumulated depreciation Intangible assets (net) A. Calculate the following ratios for Year 1 and Year 2: 1. Fixed asset turnover 2. Accumulated depreciation divided-by-gross fixed assets B. What do the trends in these ratios reveal about Foundotos? Year 1 $130,060 47,744 34,180 36,276Income S.atement For the Year Ended June 30, 2020 Net sales P2,430,500 Cost of goods sold (including depreciation of P191,500) P1,073,000 Operating expenses (including depreciation of P100,000) 500,000 7,500 (26,000) (15,000) (44,000) 356,000 P1,851,500 P 579,000 Interest expense Gain on sale of equipment Gain on sale of trading securities Unrealized holding gain on trading securities Income tax Total Net income Texas Company Balance Sheets June 30 2020 2019 Assets P442,000 325,000 P532,000 275,000 141,500 168,500 450,000 43,000 1,095,000 352,000 P3,057,000 Cash Trading Securities(market) Accounts receivable 80,500 Inventories 86,000 Investment in Associates (cost) 43,000 321,500 Land Buildings (net) Equipment (net) Total assets 242,500 P1,540,500 Liabilities & Equity P 93,500 P107,500 50,000 41,500 156,500 Accounts payable Short-term bank loans payable Accrued operating expenses Income tax payable Bonds payable (net) Common stock, P10 par value Additional paid in capital Retained…Use the following information to answer this question: Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Windswept, Incorporated 2021 Income Statement ($ in millions) Total Net fixed assets Total assets 2020 $ 270 1, 090 1, 760 $ 3, 120 3, 460 $ 6, 580 2021 $ 290 $ 9,950 7,900 365 990 1, 650 $ 1,685 98 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $ 1,587 333 $ 1,254 Accounts payable Long-term debt Common stock Retained earnings $ 2,930 4, 040 $ 6,970 Total liabilities & equity 2020 $ 1,540 1, 060 3, 340 640 $ 6, 580 2021 $ 1,812 1, 248 3, 020 890 $ 6,970 Windswept, Incorporated, has 540 million shares of stock outstanding. Its price-earnings ratio for 2021 is 15. What is the market price per share of stock?
- Accrual Basis Income Statement for the Year Ended December 31, 2012. Net sales $900,000 Expenses Cost of goods sold 550,000 Selling and administrative expense 133,000 Total expenses 683,000 Income before income taxes 217,000 Income taxes 65,400 Net income $151,600 Other data: a. Cost of goods sold includes depreciation expense of $20.000. b. Selling and administrative expense includes goodwill amortization of 10,000. c. Decrease in deferred income taxes (a liability account), $5,000. d. Increase in accounts receivable, $20,000. e. Increase in accounts payable, $10.000. f. Increase in inventories, $30,000. g. Decrease in income taxes payable, $20.000. Required: 2. Prepare the cash flows from operating activities using the indirect approach.In its income statement for the year ended December 31, 2020, Cheyenne Corp. reported the following condensed data. Operating expenses Cost of goods sold Interest expense (a) $753,390 1,293,700 72,600 V V > M Interest revenue eTextbook and Media Loss on disposal of plant assets Net sales Other comprehensive income Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cheyenne Corp. Income Statement For the Year Ended December 31, 2020 $ 30,920 $ 16,420 2.404.800 6.970 $Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash For the Years Ended December 31 2025 $ 3,560,000 2,490,000 1,070,000 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Problem 12-6A (Static) Part 1 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 965,000 40,000 0 23,000 9,000 1,037,000 $ 33,000 2024 38.3 times 15.1 times % 2024 $ 3,086,000 1,960,000 1,126,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 39.3 times 19.5 times 868,000 32,000 % 9,000 20,000…
- QUESTION : " The balance sheet of Lara Ltd are as follows: 31/12/2019 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 28,500 (11,450) 17,050 Current Assets 18,570 Inventory Account receivable 8,470 Less: Provision doubtful debts (420) 8,050 4,060 30,680 Cash and bank Total Assets Current Liabilities Account Payable 4,140 Non-Current Liabilities Loan 10,000 Total Liabilities (14,140) 16,540 Net Assets 33,590 Capital Opening Add: Net profit 35,760 10,240 Cash introduced Less: Drawing Total Capital (12,410) 33,590 31/12/2020 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 26,100 (13,010) 13,090 Current Assets 16,250 Inventory Account receivable 14,190 Less: Provision doubtful debts (800) 13,390 3,700 33,340 Cash and bank Total Assets Current Liabilities Account Payable 5,730 Non-Current Liabilities Loan 4,000 23,610 36,700 Total Liabilities (9,730) Net AssetsProblem: Remesh Corporation prepared the following income statement and statement of retained earnings for the year ended December 31, 2021. Remesh Corporation December 31, 2021 Expense and Profit Statement Dollars in thousands Sales (net) $206,000 Less: Selling Expenses (20,600) Net Sales $185,400 Add: Interest Revenue 2,400 Add: Gain on sale of equipment 3,600 Gross Sales Revenue $191,400 Less: Cost of operations: Cost of Goods Sold $126,100 Correction of overstatement in last years income because of error $5,500 (net of tax credit) $3850 Dividend cost ($0.50 per share for 8k common shares) $4000 Unusual loss due to a hurricane, $6,400 (net of tax credit) $1,920 ($135,870) Taxable Revenues $55,530 Less: Income tax on income from continuing operations $16,659 Net income $38871 Miscellaneous Deductions Loss from operations of…Based on the financial statement information of Monster Inc. in the following table, answer the following questions: Unit in Million US$ accounts receivable annual sales Cost of goods depreciation fixed assets inventory 2019 150 71 31 Start of 2019 52 222 91 End of 2019 59 275 106 1) Calculate the Fixed-asset turnover, Inventory turnover ratio and Days receivable of Monster Inc 0.87 0.63 72 2) Compare the above results with the following industry average information, comment on their implications in terms of efficiency of asset utilisation. Industry average (Unit 2019 in Million US$) Fixed-asset turnover Inventory turnover ratio Days receivable