Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories $13,954 11,321 17,595 Other current assets 2,125 24,040 Total current assets 69,035 Long-term investments 131,120 Property, plant, and equipment, net 20,776 Other noncurrent assets 12,616 Total assets $233,547 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $30,420 Accrued expenses 18,591 Unearned revenue Short-term debt 8,557 6,355 Total current liabilities 63,923 Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): 29,205 28,064 121,192 1 24,412 87,942 112,355 $233,547 Journal entry worksheet < 1 2 3 4 5 6 Record the $18,287 loan from banks due in two years. Note: Enter debits before credits. Transaction a General Journal Debit Credit View general journal Record entry Clear entry く

The condensed financial statements of Carla Vista Co. for the years 2021 and 2022 are presented below. CARLA VISTA CO.Balance SheetsDecember 31 (in thousands)20222021Current assets   Cash and cash equivalents$330$360   Accounts receivable (net)590520   Inventory640570   Prepaid expenses130160     Total current assets1,6901,610Property, plant, and equipment (net)410380Investments130130Intangibles and other assets530510     Total assets$2,760$2,630Current liabilities$940$910Long-term liabilities660560Stockholders’ equity—common1,1601,160     Total liabilities and stockholders’ equity$2,760$2,630 CARLA VISTA CO.Income StatementsFor the Year Ended December 31 (in thousands)20222021Sales revenue$3,980$3,640Costs and expenses   Cost of goods sold1,0901,010   Selling & administrative expenses2,4002,330   Interest expense1020     Total costs and expenses3,5003,360Income before income taxes480280Income tax expense192112Net income$ 288$ 168 Compute the following ratios for 2022 and 2021.…

The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,139 4,957 2,099 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities Total stockholders' equity 606 477 648 Profit margin on sales 12/31/2024 $ 1,165 1,200. 1,245 13,690 $ 17,300 $ 5,937 5,781 $ 11,718 $5,582 Required: Compute the profit margin on sales for 2024. Note: Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%. 12/31/2023 $ 83 854 709 4,034 $ 5,680 $ 2,399 2,411 $ 4,810 $ 870

Tech Supplies Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February 1, 2020, are shown below. Tech Supplies Company, IncorporatedBalance SheetAt February 1, 2020($ in millions)Assets     Current assets:     Cash and cash equivalents    $ 2,126Accounts receivable (net)    1,237Inventory    5,066Other current assets    422Total current assets    8,851Long-term assets    3,708Total assets    $ 12,559Liabilities and Shareholders’ Equity     Current liabilities:     Accounts payable    $ 5,200Other current liabilities    3,975Total current liabilities    9,175Long-term liabilities    2,246Shareholders’ equity    1,138Total liabilities and shareholders’ equity    $ 12,559Tech Supplies Company, IncorporatedIncome StatementFor the Year Ended February 1, 2020($ in millions)Revenues    $ 39,603Costs and expenses    38,168Operating income    1,435Other income (expense)*    (80)Income…

Bridgeport Corporation’s balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000)   $236,480     Current liabilities   $151,480 Land   32,960     Bonds payable   101,480 Buildings   121,480     Common stock   182,960 Equipment   92,960     Retained earnings   46,960 Accum. depr.-buildings   (31,480 )       Total   $482,880 Accum. depr.-equipment   (11,000 )         Patents   41,480               Total   $482,880           The following information is available for 2020. 1.   Net income was $54,810. 2.   Equipment (cost $21,480 and accumulated depreciation $9,480) was sold for $11,480. 3.   Depreciation expense was $5,480 on the building and $10,480 on equipment. 4.   Patent amortization was $2,500. 5.   Current assets other than cash increased by $29,000. Current liabilities increased by $14,480. 6.   An addition to the building was completed at a cost of $28,480. 7.   A long-term investment in stock was…

Bridgeport Corporation’s balance sheet at the end of 2019 included the following items. Current assets (Cash $ 82,000)   $ 236,480     Current liabilities   $ 151,480 Land   32,960     Bonds payable   101,480 Buildings   121,480     Common stock   182,960 Equipment   92,960     Retained earnings   46,960 Accum. depr.-buildings   ( 31,480 )       Total   $ 482,880 Accum. depr.-equipment   ( 11,000 )         Patents   41,480               Total   $ 482,880           The following information is available for 2020. 1.   Net income was $ 54,810. 2.   Equipment (cost $ 21,480 and accumulated depreciation $ 9,480) was sold for $ 11,480. 3.   Depreciation expense was $ 5,480 on the building and $ 10,480 on equipment. 4.   Patent amortization was $ 2,500. 5.   Current assets other than cash increased by $ 29,000. Current liabilities increased by $ 14,480. 6.   An addition to the building was completed at a cost of $ 28,480. 7.   A long-term investment in…

Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets   $  486,360   Current liabilities   $  381,360 Investments   641,360   Long-term liabilities   1,001,360 Property, plant, and equipment   1,721,360   Stockholders’ equity   1,771,360 Intangible assets   305,000       $3,154,080     $3,154,080         The following information is presented. 1.   The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2.   The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…

The Davidson Corporation's balance sheet and income statement are provided here.   Davidson Corporation: Balance Sheet as of December 31, 2021 (millions of dollars) Assets     Liabilities and Equity   Cash and equivalents $ 20    Accounts payable $ 140 Accounts receivable   475    Accruals   310 Inventories   890    Notes payable   225   Total current assets $ 1,385      Total current liabilities $ 675 Net plant and equipment   2,560    Long-term bonds   1,500            Total liabilities $ 2,175          Common stock (100 million shares)   270          Retained earnings $ 1,500            Common equity $ 1,770 Total assets $ 3,945    Total liabilities and equity $ 3,945     Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 8,500 Operating costs excluding depreciation and amortization   5,650 EBITDA $ 2,850 Depreciation and amortization   500 EBIT $ 2,350 Interest   230 EBT $ 2,120…

The balance sheets for Sports Unlimited for 2021 and 2020 are provided below.SPORTS UNLIMITED Balance Sheets For the years ended December 31                                                                    2021                     2020AssetsCurrent assets:Cash                                                          $ 103,500             $ 70,400Accounts receivable                                       46,800                32,000Inventory                                                        44,550                71,200Prepaid rent                                                     7,200                  3,600Long-term assets:Investment in bonds                                       54,900                      0Land                                                              117,450               141,600Equipment                                                     106,200               102,000Less: Accumulated depreciation                    (30,600)               (20,800)Total…

Selected financial statement information for 2018, 2019, and 2023 for End Run Corporation is presented below (amounts in millions of dollars): Accounts receivable Current assets Property, plant, and equipment (net) Total assets Current liabilities Long-term debt Sales Cost of goods sold Selling and administrative expenses Income from continuing operations Cash flow from operations Depreciation expense 2020 A. 2020 SAI B. 2020 LVGI C. 2020 TATA D. 2020 Y E. 2020 earnings manipulation probability 10508 30945 11284 68787 29417 8776 101573 92207 3931 946 4837 518 2019 3905 7438 10744 31289 6595 7223 47860 32090 3315 1063 1127 550 2018 2985 5743 10493 26213 6048 7223 33906 27772 2582 739 1863 550 For 2019 and 2020, compute the following amounts relative to Beneish's eight-factor earnings manipulation model: