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Net Sales Cost of Goods Sold Gross Profit Selling & Administrative Expenses Income From Operations Simpson Company Income Statements For Years Ended December 31 Other Expenses and Losses: Interest Expense Income Before Income Tax Income Tax Expense Net Income ASSETS Current Assets: Cash Debt Investments (short-term) Accounts Receivable (net) Inventory Total Current Assets Plant Assets (net) Total Assets Accounts Payable Income taxes Payable Bonds Payable Total Current Liabilities Total Liabilities 2022 780,000 440,000 Stockholders Equity - Common Common Stock ($10 par) Retained Earnings 340,000 Simpson Company Balance Sheets December 31 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Total Stockholders Equity Total Liabilities & Stockholders Equity 176,880 163,120 9,920 153,200 34,000 119,200 2022 23,100 44,800 2021 624,00 0 138,200 25,300 163,500 132,000 295,500 405,00 0 218,40 0 149,76 0 68,640 7,200 61,440 14,000 47,440 2021 106,200 116,400 290,500 212,400 485,000 439,600 775,800 652,000 21,600 33,000 83,800 74,000 [T 132,000 24,000 156,000 120,000 276,000 150,000 130,000 330,300 246,000 480,300 376,000 775,800 652,000 ▬ All sales were on credit. Net cash provided by operating activities for 2022 was $108,000. Capital expenditures were $47.000. and cash dividends were $30.900.

Net Sales Cost of Goods Sold Gross Profit Selling & Administrative Expenses Income From Operations Simpson Company Income Statements For Years Ended December 31 Other Expenses and Losses: Interest Expense Income Before Income Tax Income Tax Expense Net Income ASSETS Current Assets: Cash Debt Investments (short-term) Accounts Receivable (net) Inventory Total Current Assets Plant Assets (net) Total Assets Accounts Payable Income taxes Payable Bonds Payable Total Current Liabilities Total Liabilities 2022 780,000 440,000 Stockholders Equity - Common Common Stock ($10 par) Retained Earnings 340,000 Simpson Company Balance Sheets December 31 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Total Stockholders Equity Total Liabilities & Stockholders Equity 176,880 163,120 9,920 153,200 34,000 119,200 2022 23,100 44,800 2021 624,00 0 138,200 25,300 163,500 132,000 295,500 405,00 0 218,40 0 149,76 0 68,640 7,200 61,440 14,000 47,440 2021 106,200 116,400 290,500 212,400 485,000 439,600 775,800 652,000 21,600 33,000 83,800 74,000 [T 132,000 24,000 156,000 120,000 276,000 150,000 130,000 330,300 246,000 480,300 376,000 775,800 652,000 ▬ All sales were on credit. Net cash provided by operating activities for 2022 was $108,000. Capital expenditures were $47.000. and cash dividends were $30.900.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hi I had posted this question but they did not complete the bottom half, please help?

i) Times Interest Earned j) Asset Turnover k) Debt to Assets I) Current Cash Debt Coverage m) Cash Debt Coverage n) Free Cash Flow
Transcribed Image Text:i) Times Interest Earned j) Asset Turnover k) Debt to Assets I) Current Cash Debt Coverage m) Cash Debt Coverage n) Free Cash Flow
Net Sales Cost of Goods Sold Gross Profit Selling & Administrative Expenses Income From Operations Simpson Company Income Statements For Years Ended December 31 Other Expenses and Losses: Interest Expense Income Before Income Tax Income Tax Expense Net Income ASSETS Current Assets: Cash Debt Investments (short-term) Accounts Receivable (net) Inventory Total Current Assets Plant Assets (net) Total Assets Accounts Payable Income taxes Payable Bonds Payable Total Current Liabilities Total Liabilities 2022 780,000 Stockholders Equity - Common Common Stock ($10 par) Retained Earnings 440,000 Total Stockholders Equity Total Liabilities & Stockholders Equity 340,000 Simpson Company Balance Sheets December 31 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: 176,880 163,120 9,920 153,200 34,000 119,200 2022 23,100 44,800 106,200 116,400 290,500 485,000 775,800 138,200 25,300 163,500 132,000 295,500 150,000 330,300 480,300 775,800 2021 624,00 0 405,00 0 218,40 0 149,76 0 68,640 7,200 61,440 14,000 47,440 2021 21,600 33,000 83,800 74,000 212,400 439,600 652,000 132,000 24,000 156,000 120,000 276,000 130,000 246,000 376,000 652,000 All sales were on credit. Net cash provided by operating activities for 2022 was $108,000. Capital expenditures were $47,000, and cash dividends were $30,900.
Transcribed Image Text:Net Sales Cost of Goods Sold Gross Profit Selling & Administrative Expenses Income From Operations Simpson Company Income Statements For Years Ended December 31 Other Expenses and Losses: Interest Expense Income Before Income Tax Income Tax Expense Net Income ASSETS Current Assets: Cash Debt Investments (short-term) Accounts Receivable (net) Inventory Total Current Assets Plant Assets (net) Total Assets Accounts Payable Income taxes Payable Bonds Payable Total Current Liabilities Total Liabilities 2022 780,000 Stockholders Equity - Common Common Stock ($10 par) Retained Earnings 440,000 Total Stockholders Equity Total Liabilities & Stockholders Equity 340,000 Simpson Company Balance Sheets December 31 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: 176,880 163,120 9,920 153,200 34,000 119,200 2022 23,100 44,800 106,200 116,400 290,500 485,000 775,800 138,200 25,300 163,500 132,000 295,500 150,000 330,300 480,300 775,800 2021 624,00 0 405,00 0 218,40 0 149,76 0 68,640 7,200 61,440 14,000 47,440 2021 21,600 33,000 83,800 74,000 212,400 439,600 652,000 132,000 24,000 156,000 120,000 276,000 130,000 246,000 376,000 652,000 All sales were on credit. Net cash provided by operating activities for 2022 was $108,000. Capital expenditures were $47,000, and cash dividends were $30,900.
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