Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetAssetsCashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJoel de Paris, Inc.Income StatementSalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income.$116,000204,000$4,462,0003,792,700669,300$320,000349,300BeginningBalance133,000 $333,000580,000874,000407,000249,000$ 2,576,000EndingBalance128,000470,000488,000874,000430,000254,000$ 2,644,000$ 373,000 $ 344,0001,017,0001,017,0001,186,0001,283,000$ 2,576,000 $ 2,644,000 Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetAssetsCashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJoel de Paris, Inc.Income StatementSalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income.$116,000204,000$4,462,0003,792,700669,300$320,000349,300BeginningBalance133,000 $333,000580,000874,000407,000249,000$ 2,576,000EndingBalance128,000470,000488,000874,000430,000254,000$ 2,644,000$ 373,000 $ 344,0001,017,0001,017,0001,186,0001,283,000$ 2,576,000 $ 2,644,000

Lets understand the basics.Financial ratios also referred to as accounting ratios are the ratios…

ssets ash ccounts receivable nventory ant and equipment, net Joel de Paris, Inc. Balance Sheet nvestment in Buisson, S.A. and (undeveloped) otal assets Habilities and Stockholders' Equity ccounts payable ong-term debt tockholders' equity otal liabilities and stockholders' equity Beginning Balance $ 133,000 $ 128,000 333,000 470,000 580,000 874,000 407,000 249,000 $ 2,576,000 Ending Balance. $ 373,000 1,017,000 1,186,000 $ 2,576,000 488,000 874,000 430,000 254,000 $ 2,644,000 $ 344,000 1,017,000. 1,283,000 $ 2,644,000

ssets ash ccounts receivable nventory ant and equipment, net Joel de Paris, Inc. Balance Sheet nvestment in Buisson, S.A. and (undeveloped) otal assets Habilities and Stockholders' Equity ccounts payable ong-term debt tockholders' equity otal liabilities and stockholders' equity Beginning Balance $ 133,000 $ 128,000 333,000 470,000 580,000 874,000 407,000 249,000 $ 2,576,000 Ending Balance. $ 373,000 1,017,000 1,186,000 $ 2,576,000 488,000 874,000 430,000 254,000 $ 2,644,000 $ 344,000 1,017,000. 1,283,000 $ 2,644,000

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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