Refer to exhibits 2.1 and 2.2 to use the data to evaluate current ratio, quick ratio, debt ratio, times interest earned, payables turnover, receivables turnover, inventory turnover, return on equity, return on sales, payables conversion period, receivables conversion period, inventory conversion period, and cash conversion cycle. Then comment on the financial strength or weakness of the corporation based on these ratios and cycles.
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Refer to exhibits 2.1 and 2.2 to use the data to evaluate
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- 2022 Income Statement: Sales revenue Cost of goods sold Fixed Costs 600,000 240,000 50,000 Selling, General, and Admin Expenses 30,000 Depreciation 50,000 2021 Balance Sheet: Assets Cash Accounts Receivable Inventories Fixed Assets Accumulated Depreciation Intangible Assets 2022 Balance Sheet: Assets Cash Accounts Receivable Inventories Fixed Assets Accumulated Depreciation, Intangible Assets 60,000 40,000 20,000 300,000 100,000 50,000 80,000 50,000 40,000 400,000 150,000 80,000 Liabilities Notes Payable Accounts Payable Long-Term Debt Owner's Equity Retained Earnings Common Stock Liabilities Notes Payable Accounts Payable Long-Term Debt Owner's Equity Retained Earnings Common Stock 30,000 40,000 150,000 60,000 120,000 50,000 40,000 180,000 ????? 150,000 What is net income for 2022? Total interest paid in 2022 is $70,000 and the tax rate is 25%.2013 2014 Sales$4,500 $4,775 Depreciation7501050COGS24222430Interest180215Cash200400Accts Receivables200300Notes Payable100150Long-term debt29561850Net fixed assets80009200Accounts Payable50100Inventory18001600Dividends225275Tax rate35%35% 1. What is the cash flow from operating activities? 2. What is the cash flow from financing activities? What is the days sales in accounts receivable or the AR period?Solve for fy22 sales and depreciation a on the 2022 income statement. remember to reference the growth rate provided by Paul.of 0.141 FY21 FY22 Sales $24884886 Blank Cost of Goods Sold $19659044 Other Expenses $2735335 Depreciation $995395 Blank Taxable Income $1493092 Taxes (21%) $313549 Net Income $1179543 Dividends $500,000 Add. to Retained Earnings $679543
- Exercise 5-9 During the next fiscal year ending June 30, 2020, Texas Company will make substantial investments in new product lines and in a modernization program. Significant changes to be made during the year are listed below: 1. Equipment with a net book value of P86,000 will be sold during the year. 2. All of the capital stock of Ohio Company will be exchanged with 5,000 shares of Texas Company at a time when the market value is P40 per share. P250,000 cash will also be given as part payment. 3. Bonds having a face value of P1,000,000 will be issued on June 30, 2020 at 4. Trading securities carried at market value of P200,000 will be sold for P215,000. 5. New equipment will be purchased during the year. 6. A new building will be purchased at a cost of P1,000,000, although there are no building retirements. 7. Cash dividends will be paid to stockholders. The financial statements forccast for the year ended June 30, 2020 are given next page:Brick & StoneIncome Statement for the year ended 31 December 2016 Notes $ $Sales 2,500,000Cost of Sales 1 1,100,000Gross Profit 1,400,000ExpensesSalaries & Wages 2 760,000Employer NIS Contribution 2,400Rent and Rates 3 240,000Insurance 50,000Maintenance 120,000Depreciation 4…Use the following information for Delta Corporation: Year 20X1 20X2 Net sales $1,500,000 $1,656,598 Cost of goods sold 675,000 745,469 Depreciation 270,000 298,188 Interest paid 43,600 44,000 Cash 127,500 140,811 Accounts receivable 450,000 496,980 Inventory 525,000 579,809 Net fixed assets 1,800,000 1,987,918 Accounts payable 375,000 414,150 Notes payable 45,000 50,000 Long-term debt 500,000 500,000 Common stock 1,000,000 1,000,000 Retained earnings 982,500 1,241,368 Tax rate 35% 35% Dividend payout 30% 30% Delta has 600,000 common shares outstanding. The firm is projecting a 20% increase in net sales for the coming year (20X3). Delta uses the percentage of sales approach to plan for its financing needs. In using this approach, the firm assumes that cost of goods sold, all assets (current and fixed), and accounts payable will all remain a constant…
- 2022 Sales revenue Cost of goods sold Gross profit $500,000 400,000 ? Operating expenses Wages expense 37,000 Rent expense 9,200 Utilities expense ? Depreciation expense Total operating expenses Profit from operations 6,000 59,400e and Environment of Financial Management The Congo Mining Company Income Statement for Years Ending 12/31/2017 and 12/31/2018 2018 2017 $1,650 $1.300 950 $ 700 $ 45 Sales 750 Cost of goods sold $ 550 Gross profit %24 35 Operating expenses 255 265 Depreciation expense $ 45 Operating profits $ 285 65 $ 380 Interest expense 55 Profit before taxes $ 230 46 76 Taxes (20%) Net income $ 184 $ 304 * 15% of sales are cash sales, with the remaining 85% being credit sales. 4-10. (Evaluating current and proforma profitability) (Financial ratios-investment anal- ysis) The annual sales for Saudi Aramco Corporation were $4.7 million last year. All sales are on credit. The firm's end-of-year balance sheet was as follows: Current assets $ 520,000 Liabilities $1,200,000 Net fixed assets 1.600,000 Owners' equity 920,000 $2.120,000 $2.120.000 The firm's income statement for the year was as follows: Sales $ 4.550,000 Less cost of goods sold (3,560,000) $ 990,000 Gross profit Less operating expenses…Problem 13-02A (Video) The comparative statements of Cullumber Company are presented here: Cullumber CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,891,640 $1,751,600 Cost of goods sold 1,059,640 1,007,100 Gross profit 832,000 744,500 Selling and administrative expenses 501,100 480,100 Income from operations 330,900 264,400 Other expenses and losses Interest expense 23,700 21,700 Income before income taxes 307,200 242,700 Income tax expense 93,700 74,700 Net income $213,500 $168,000 Cullumber CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 118,900 103,900 Inventory 127,700 117,200 Total current assets 380,700 335,300 Plant assets (net)…
- 2014 2013 Revenue $14,147,293 $13,566,296 Cost of goods sold $-8,447,560 $-8,131,586 Selling, general, andadministrative expenses $-998,843 $-980,283 Depreciation $-1,497,919 $-1,472,544 EBIT $3,202,971 $2,981,883 Interest expense $-376,259 $-355,627 Taxes $-1,074,151 $-997,977 Net income $1,752,561 $1,628,279 Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copy in order to paste its contents into a spreadsheet. Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash $191,068 $187,833 Accounts payable $1,546,427 $1,455,115 Investments…LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 2023 2022 Gross sales $ 19,000 $ 15,000 Sales returns and allowances 1,000 100 Net sales $ 18,000 $ 14,900 Cost of merchandise (goods) sold 12,000 9,000 Gross profit $ 6,000 $ 5,900 Operating expenses: Depreciation $ 700 $ 600 Selling and administrative 2,200 2,000 Research 550 500 Miscellaneous 360 300 Total operating expenses $ 3,810 $ 3,400 Income before interest and taxes $ 2,190 $ 2,500 Interest expense 560 500 Income before taxes $ 1,630 $ 2,000 Provision for taxes 640 800 Net income $ 990 $ 1,200 LOGIC COMPANY Comparative Balance Sheet December 31, 2022 and 2023 2023 2022 Assets Current assets: Cash $ 12,000 $ 9,000 Accounts receivable 16,500 12,500 Merchandise inventory 8,500 14,000 Prepaid expenses 24,000 10,000 Total current assets $ 61,000 $ 45,500 Plant and equipment: Building (net) $ 14,500 $…LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 2023 2022 Gross sales $ 19,000 $ 15,000 Sales returns and allowances 1,000 100 Net sales $ 18,000 $ 14,900 Cost of merchandise (goods) sold 12,000 9,000 Gross profit $ 6,000 $ 5,900 Operating expenses: Depreciation $ 700 $ 600 Selling and administrative 2,200 2,000 Research 550 500 Miscellaneous 360 300 Total operating expenses $ 3,810 $ 3,400 Income before interest and taxes $ 2,190 $ 2,500 Interest expense 560 500 Income before taxes $ 1,630 $ 2,000 Provision for taxes 640 800 Net income $ 990 $ 1,200 Current assets: LOGIC COMPANY Comparative Balance Sheet December 31, 2022 and 2023 2023 2022 Assets Cash $ 12,000 $ 9,000 Accounts receivable 16,500 12,500 Merchandise inventory 8,500 14,000 Prepaid expenses 24,000 10,000 Total current assets $ 61,000 $ 45,500 Plant and equipment: Building (net) $ 14,500 $…