MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 ASSETS Cash $ 50,000 Accounts receivable 70,000 Inventory 110,000 Net plant and equipment 220,000 Total assets $ 450,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable $ 70,000 Accrued expenses 50,000 Long-term debt 130,000 Common stock 70,000 Paid-in capital 40,000 Retained earnings 90,000 Total liabilities and stockholders’ equity $ 450,000 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Sales (all on credit) $ 875,000 Cost of goods sold 600,000 Gross profit $ 275,000 Sales and administrative expenses 30,000 Depreciation 55,000 Operating profit $ 190,000 Interest expense 25,000 Profit before taxes $ 165,000 Taxes (30%) 49,500 Net income $ 115,500 Refer to the tables above. What is Megaframe Computer's total asset turnover?

The following information pertains to Walrus Inc.:   Cash $60,000 Accounts receivable 170,000 Inventory 100,000 Plant assets (net) 430,000 Total assets $760,000 Accounts payable $110,000 Accrued taxes and expenses payable 42,000 Long-term debt 120,000 Common stock ($10 par) 260,000 Paid-in capital in excess of par 50,000 Retained earnings 330,000 Total equities $760,000 Net sales (all on credit) $2,000,000 Cost of goods sold 1,400,000 Net income 120,000 Required:   Compute the following:     d) Book value per share

Marin Company provides you with the following condensed balance sheet information: Assets Current assets       $ 41,700 Equity investments       60,000 Equipment (net)       227,600 Intangibles       55,500    Total assets       $384,800 Liabilities and Stockholders’ Equity Current and long-term liabilities       $96,400 Stockholders’ equity            Common stock ($5 par)   $ 19,700        Paid-in capital in excess of par   107,300        Retained earnings   161,400   288,400      Total liabilities and stockholders’ equity       $384,800 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.)(a) Marin declares and pays a $0.55 per share cash dividend. (1)   Total assets                                                                 $…

Amounts are in thousands of dollars (except number of shares and price per share): Kiwi Fruit Company Balance Sheet Cash and equivalents $570 Operating assets 650 Property, plant, and equipment 2,700 Other assets 110 Total assets $ 4,030 Current liabilities $920 Long-term debt 1,280 Other liabilities 120 Total liabilities $2,320 Paid in capital $340 Retained earnings 1,370 Total equity $1,710 Total liabilities and equity $4,030 Kiwi Fruit Company Income Statement Net sales $7,800 Cost of goods sold -5,900 Gross profit $1,900 Operating expense -990 Operating income $910 Other income 70 Net interest expense -250 Pretax income $730 Income tax -200 Net income $530 Earnings per share $2.00 Shares outstanding 265,000 Recent price $34.50 Kiwi Fruit Company Cash Flow Statement Net income $530 Depreciation and amortization 175 Increase in operating assets -90 Decrease in current liabilities -120 Operating cash flow $495 Net (purchase) sale of property $180 Increase in other assets -80 Investing…

The following balance sheets were reported on January 1, 2016, for Wood Company and Rose Company:     Wood   Rose Cash $   150,000   $  30,000 Inventory 450,000   150,000 Equipment (net) 1,320,000   570,000 Total $1,920,000   $750,000         Total liabilities $   450,000   $150,000 Common stock, $20 par value 600,000   300,000 Other contributed capital 375,000   105,000 Retained earnings 495,000   195,000 Total $1,920,000   $750,000                                     Required: Appraisals reveal that the inventory has a fair value $180,000, and the equipment has a current value of $615,000.  The book value and fair value of liabilities are the same.  Assuming that Wood Company wishes to acquire Rose for cash in an asset acquisition, determine the following cutoff amounts:   The purchase price above which Wood would record goodwill. The purchase price at which Wood would…