Income Statement for December 31, 2019 Sales $4,000,000 Operating costs 3,200,000  EBIT $  800,000 Interest 120,000  Pre-tax earnings $  680,000 Taxes (25%) 170,000 Net income 510,000 Dividends $  190,000 Balance Sheet as of December 31, 2019 Cash $   160,000   Accounts payable $   360,000 Receivables 360,000   Line of credit 0 Inventories 720,000   Accruals 200,000  Total CA $1,240,000    Total CL $   560,000 Fixed assets 4,000,000   Long-term bonds 1,000,000  Total Assets $5,240,000   Common stock 1,100,000       RE 2,580,000        Total L&E $5,240,000 Suppose that in 2020 sales increase to $4.4 million and that 2020 dividends will increase to $218,000. Forecast the financial statements using the forecasted financial statement method. Assume the firm operated at full capacity in 2019. The long-term bonds have an interest rate of 11%. New financing will be with a line of credit. Assume it will be added at the end of the year. Cash does not earn any interest income. Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollar.  Income Statement December 31, 2020 Sales   $   Operating costs   $   EBIT   $   Interest   $   Pre-tax earnings   $   Taxes (25%)   $   Net income   $   Dividends:   $   Addition to RE:   $   Balance Statement December 31, 2020 Cash   $   Receivables   $   Inventories   $    Total current assets   $   Fixed assets   $    Total assets   $   Accounts payable   $   Line of credit   $   Accruals   $    Total current liabilities   $   LT bonds   $   Common stock   $   Retained earnings   $    Total L&E   $

Financing Deficit Stevens Textile Corporation's 2019 financial statements are shown below: Balance Sheet as of December 31, 2019 (Thousands of Dollars) Cash $ 1,080   Accounts payable $ 4,320 Receivables 6,480   Accruals 2,880 Inventories 9,000   Line of credit 0    Total current assets $16,560   Notes payable 2,100 Net fixed assets 12,600      Total current liabilities $ 9,300       Mortgage bonds 3,500       Common stock 3,500       Retained earnings 12,860    Total assets $29,160      Total liabilities and equity $29,160 Income Statement for December 31, 2019 (Thousands of Dollars) Sales $36,000 Operating costs 34,000    Earnings before interest and taxes $ 2,000 Interest 160    Pre-tax earnings $ 1,840 Taxes (25%) 460 Net income $ 1,380 Dividends (40%) $    552 Addition to retained earnings $ 828 Stevens grew rapidly in 2019 and financed the growth with notes payable and long-term bonds. Stevens expects sales to grow by 15% in the next…

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%.

December 31, 2025 Cash $45,000 Notes payable (short-term) $50,000 Receivables $110,000 Accounts payable 32,000 Less: Allowance 15,000 95,000 Accrued liabilities 5,000 Inventory 170,000 Common stock (par $5) 260,000 Prepaid insurance Land 8,000 Retained earnings 141,000 20,000 Equipment (net) 150,000 $488,000 $488,000 CARVER INC. Income Statement For the Year Ended December 31, 2025 Sales revenue $1,400,000 Cost of goods sold Inventory, Jan. 1, 2025 $200,000 Purchases 790,000 Cost of goods available for sale 990,000 Inventory, Dec. 31, 2025 (170,000) Cost of goods sold 820,000 Gross profit on sales Operating expenses Net income $580,000 170,000 $410,000 (a) Compute the following ratios or relationships of Carver Inc. Assume that the ending account balances are representative unless the information provided indicates differently. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (1) Current ratio (2) Inventory turnover (3) Accounts receivable turnover (4) Earnings per share (5)…

The trial balance of Novak Ltd. at December 31, 2020, follows:     Debits   Credits Cash   $295,000         Sales revenue         $10,299,000   FV-NI investments (at fair value)   323,000         Cost of goods sold   6,400,000         Bond investment at amortized cost   429,000         FV—OCI investments (fair value $445,000)   378,000         Notes payable (due in six months)         99,000   Accounts payable         805,000   Selling expenses   2,460,000         Investment income or loss*         11,000   Land   320,000         Buildings   2,940,000         Dividends payable         56,000   Income tax payable         106,000   Accounts receivable   705,000         Accumulated depreciation—buildings         232,000   Allowance for doubtful accounts         37,000   Administrative expenses   930,000         Interest expense   251,000         Inventory   767,000         Gain on disposal of land…

Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2019. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. (Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent.) 2019 (dollars in millions) 2018 (dollars in millions) Difference % CHG Cash and cash equivalents $ 15,980 $ 15,499 Marketable securities 9,222 16,148 Inventories 13,642 14,324 Goodwill 1,278 Total liabilities and equity $ 103,249 $ 144,603

BnB Construction Inc.Balance Sheet (Millions of Dollars)   Assets  2021 Est  2020  2019 Liabilities 2021 Est 2020   2019 Cash and Cash Equivalents  15 10 15 Accounts payable 115 60 30 Short-Term Investments 10 0 65 Overdrafts 115 110 60 Accounts Receivable 420 375 315 Accruals 260 140 130 Inventories 700 615 415 Total Current Liabilities 490 310 220 Total Current Assets 1145 1000 810 Long -Term Bonds and New Loan 1300 754 580 Net Plant and Equipment 1884 1190 870 Total Debt 1790 1064 800         Preferred Stock 40 40 40         Common Stock 130 130 130         Retained Earnings 1069 956 710         Total Common Equity 1199 1086 840 Total Assets 3029 2190 1680 Total Liabilities and Equity 3,029 2,190 1,680 Included is the Income Statement. Requirements: 1. Calculate the EPS, DPS, and BVPS, and Cash…

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The 2019 financial statements for Growth Industries are presented below.   INCOME STATEMENT, 2019 Sales       $ 270,000   Costs         185,000   EBIT       $ 85,000   Interest expense         17,000   Taxable income       $ 68,000   Taxes (at 21%)         14,280   Net income       $ 53,720   Dividends $ 21,488         Addition to retained earnings $ 32,232              BALANCE SHEET, YEAR-END, 2019   Assets         Liabilities       Current assets         Current liabilities       Cash $ 3,000     Accounts payable $ 10,000   Accounts receivable   8,000     Total current liabilities $ 10,000   Inventories   29,000     Long-term debt   170,000   Total current assets $ 40,000     Stockholders’ equity       Net plant and equipment   210,000     Common stock plus additional paid-in capital   15,000             Retained earnings   55,000   Total assets $ 250,000     Total liabilities plus stockholders' equity $ 250,000        Sales and…

What is Naboo Manufacturing's 2019 Current Ratio?