Kellogg Company is the world's leading producer of ready-to-eat o ading producer of grain-based convenience foods such as frozen waffles and ppose the following items were taken from its 2014 income statement a et. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable $5.481 7,184 Bonds payable Inventory Sales revenue 3,390 334 Accounts payable Common stock Income tax expense 44 Interest 205

The following information is available for Cullumber Products:     2014   2013 Accounts receivable   $76,800   $94,720 Cost of goods sold   675,840   742,400 Inventory (ending)   66,560   87,040 Net cash provided by operating activities   281,600   217,600 Net sales   1,157,760   1,203,200 Capital expenditures   51,200   48,640 Dividends   31,104   40,960 Compute the following for 2014: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times   Average collection period enter a number of days rounded to 1 decimal place days

E1-11 Kellogg Company is the world's leading producer of ready-to-eat cereal and leading producer of grain-based convenience foods such as frozen waffles and cereal bars Suppose the following items were taken from its 2014 income statement and balance sheet. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Bonds payable Inventory Sales revenue $5,481 7,184 $ 4,835 910 12,575 1,077 Accounts payable Common stock Income tax expense 3,390 Cash 334 105 Notes payable Interest expense 44 498 295 Instructions Perform each of the following. (a) In each case, identify whether the item is an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). (b) Prepare an income statement for Kellogg Company for the year ended December 31.

Income statement data for Bezos Company for the years ended December 31, 2014 and 2013, are as follows:     2014 2013 Sales $840,000 $600,000 Cost of goods sold 724,500 525,000 Gross profit $115,500 $75,000 Selling expenses $52,500 $37,500 Administrative expenses 41,400 30,000 Total operating expenses $93,900 $67,500 Income before income tax $21,600 $7,500 Income tax expense 10,800 2,700 Net income $10,800 $4,800   a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 2014 when compared with 2013. Round one to decimal place. b. What conclusion can be drawn from the horizontal analysis?

Assume a merchandising company had credit sales of $380,000, cost of goods sold of $187,000, and net income of $60,000. It provided the following excerpts from its balance sheet:     This Year Last Year Current assets:     Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities:     Accounts payable $ 39,000 $ 44,000 Income taxes payable $ 13,000 $ 10,000 If the company purchases its merchandise inventory on account, then based solely on the information provided, the company’s cash paid for inventory purchases would be: Garrison 17e Rechecks 2020-10-02   Multiple Choice   $189,000.   $185,000.   $195,000.   $179,000.

Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2021 fiscal year reported the following information ($ in millions):    Sales $ 6,255   Cost of goods sold   5,190      The company's balance sheets for 2021 and 2020 included the following information ($ in millions):    2021 2020 Current assets:             Accounts receivable, net $ 703   $ 583   Inventories   880     808      The statement of cash flows reported bad debt expense for 2021 of $8 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part)The allowance for uncollectible accounts was $10 and $7 at December 31, 2021 and 2020, respectively. All sales are on credit. InventoriesInventories are valued at the lower of cost or market. The cost of the majority of inventories is measured using the last-in, first-out (LIFO)…

Using the information​ provided, what is the length of the production cycle for the​ firm?   Allied​ Industries, Inc. Selected Income Statement​ Items, 2017 Cash Sales​ $1,500,000 Credit Sales ​$7,500,000 Total Sales​ $9,000,000 COGS​ $6,000,000   Allied​ Industries, Inc. Selected Balance Sheet Accounts ​12/31/2017​12/31/2016Change Accounts Receivable​ $270,000 $240,000​ $30,000 Inventory​ $125,000 $100,000​ $25,000 Accounts Payable​ $110,000 $90,000​ $20,000

Need a,b,c

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages.   TannenhillCompany   ElectronicsIndustryAverage Sales $800,000     100 % Cost of goods sold 512,000     70   Gross profit $288,000     30 % Selling expenses $176,000     17 % Administrative expenses 64,000     7   Total operating expenses $240,000     24 % Operating income $48,000     6 % Other revenue 16,000     2     $64,000     8 % Other expense 8,000     1   Income before income tax $56,000     7 % Income tax expense 24,000     5   Net income $32,000     2 % a.  Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers.