MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable $ 86,150 26,500 61,500 Cash flows from operating activities: 33,400 2,200 2020 $530,000 337,600 192,400 Changes in current operating assets and liabilities 123,500 39,000 29,900 9,900 $ 20,000 $ 28,300 35,000 54,400 27,200 2,500 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 39,000

The 2021 income statement of Adrian Express reports sales of $14,097,000, cost of goods sold of $8,154,000, and net income of $1,540,000. Balance sheet information is provided in the following table.  ADRIAN EXPRESSBalance SheetsDecember 31, 2021 and 2020       2021   2020   Assets                 Current assets:                 Cash $ 540,000     $ 700,000     Accounts receivable   1,280,000       940,000     Inventory   1,680,000       1,340,000     Long-term assets   4,740,000       4,180,000     Total assets $ 8,240,000     $ 7,160,000     Liabilities and Stockholders' Equity                 Current liabilities $ 1,960,000     $ 1,600,000     Long-term liabilities   2,240,000       2,340,000     Common stock   1,880,000       1,880,000     Retained earnings   2,160,000       1,340,000     Total liabilities and stockholders' equity $ 8,240,000     $ 7,160,000       Industry averages for the following four risk ratios are as follows:…

Skysong Inc., a greeting card company, had the following statements prepared as of December 31, 2020. SKYSONG INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $6.900 Accounts receivable 61.900 50,500 Short-term debt investments (available-for-sale) 34,800 18,200 Inventory 39,900 59,800 Prepaid rent 4,900 4.000 Equipment 155,500 131,200 Accumulated depreciation-equipment (34,800 ) (25,300 ) Copyrights 45,700 50.200 Total assets $314,000 $295,500 Accounts payable $46,200 $39,700 Income taxes payable 4,000 6,100 Salaries and wages payable 7,900 4,000 Short-term loans payable 7,900 10,000 Long-term loans payable 59.800 68,600 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 58,200 37,100 Total liabilities & stockholders' equity $314,000 $295,500

Retail Corporation reported the following Income Statement for the past two years: Retail Corporation Comparative Income Statement For the Years Ended December 31, 2021 and 2020       2021   2020         Amount   Amount     Sales    $  30,100,100    $  26,210,200     Cost of goods sold      22,425,500        18,950,800     Gross profit          7,674,600          7,259,400     Selling expenses        1,525,500          1,480,600     Administrative expenses        1,425,300          1,325,000     Total operating expenses        2,950,800          2,805,600     Income from operations        4,723,800          4,453,800     Interest Expense            190,500              210,600     Other income                62,500                55,500     Income before income tax        4,595,800          4,298,700     Income tax expense        1,608,500          1,312,400     Net income    $    2,987,300    $    2,986,300                 a. What was Retail…

Here are simplified financial statements for Watervan Corporation:   INCOME STATEMENT (Figures in $ millions) Net sales $ 900.00 Cost of goods sold   760.00 Depreciation   50.00 Earnings before interest and taxes (EBIT) $ 90.00 Interest expense   31.00 Income before tax $ 59.00 Taxes   12.39 Net income $ 46.61     BALANCE SHEET (Figures in $ millions)   End of Year   Start of Year Assets               Current assets $ 388     $ 350   Long-term assets   296       241   Total assets $ 684     $ 591   Liabilities and shareholders’ equity               Current liabilities $ 213     $ 176   Long-term debt   127       140   Shareholders’ equity   344       256   Total liabilities and shareholders’ equity $ 684     $ 572     The…

es MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable $ 85,650 26,000 61,000 Cash flows from operating activities: Net income 32,400 2,150 2020 $ 525,000 335,600 189,400 123,000 38,000 28,400 9,500 $ 18,900 Changes in current operating assets and liabilities $ 27,800 34,000 54,300 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. 26,700 2,400 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 38,000 $ $ 18,300 38,000 56,300

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[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets 2020 2021 $548,688 $ 420,340 330,310 263,974 218,378 156,366 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 Common stock Other paid-in capital Retained earnings Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income December 31 2021 $ 62,574 % 0 % $ 41,881 $ 55,985 1,200 3,920 114,438 103,962 61,920 $177,012 $ 147,043 $ 121,825 $ 25,844 65,000 8,125…

Income Statement For the year Ended December 31, 2020 Sales Cost of Goods Sold $ 390,000 235,000 Gross Profit S 155,000 Wages Expenses Depreciation Expense Other Operating Expenses Income Tax Expense S61000 14,000 26,000 17,000 120,000 Net Income $35000 Terry Company Balance Sheets Dec. 31, 2020 Dec. 1L Assets 2019 $ 30,000 35,000 84,000 8,000 130,000 (62.000) Cash Accounts Receivable (net) Inventory Prepaid Expense Plant Assets Accumulated Depreciation S16.000 28,000 110,000 12,000 178,000 (76,000) Total Assets $ 268,000 $ 225,000 I Liabilities and Stockholders' Equity Accounts Payable Wages Payable Income Tax Payable Common Stock Retained Earnings $ 27.000 6,000 3,000 135,000 97,000 S 14,000 2,500 4,500 125,000 79,000 Total Liabilities and S 268,000 $ 225,000 Stockholders' Equity Cash dividends of $17,000 were declared and paid during 2020 Plant assets of $48,000 were purchased for cash, and later in the year, an additional $10,000 common stock was issued for cash REQUIRED Prepare…

Net sales Windswept, Incorporated 2021 Income Statement Cost of goods sold Depreciation ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 10,800 7,950 420 $ 2,430 100 $ 2,330 489 $ 1,841 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 Cash $ 280 $ 310 Accounts payable $ 1,790 2021 $ 1,842 Accounts received 1,110 1,010 Long-term debt Inventory 2,000 1,745 Common stock 1,070 3,360 1,353 3,030 Total $ 3,390 $ 3,065 Retained earnings 650 900 Net fixed assets 3,480 4,060 Total assets $ 6,870 $ 7,125 Total liabilities & equity $ 6,870 $ 7,125 What is the equity multiplier for 2021?