Sunlight, Inc. had the following assets and liabilities as of September 30, 2016 Assets $60,600 Liabilities $27,500 If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016
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Sunlight, Inc. had the following assets and liabilities as of September 30, 2016
Assets $60,600
Liabilities $27,500
If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $ 1,800.0 $ 1,500.0 Operating costs excluding depreciation and amortization 1,395.0 1,275.0 EBITDA $ 405.0 $ 225.0 Depreciation and amortization 43.0 39.0 Earnings before interest and taxes (EBIT) $ 362.0 $ 186.0 Interest 40.0 33.0 Earnings before taxes (EBT) $ 322.0 $ 153.0 Taxes (40%) 128.8 61.2 Net income $ 193.2 $ 91.8 Common dividends $ 174.0 $ 73.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash and equivalents $ 23.0 $ 18.0 Accounts receivable 248.0 225.0 Inventories 396.0 360.0 Total current assets $ 667.0 $ 603.0 Net plant and equipment 429.0 390.0 Total assets $ 1,096.0 $ 993.0 Liabilities and Equity Accounts…Selected information from the comparative financial statements of Barcelona Company for the year ended December 31 appears below: 2017 2016 Accounts receivable (net) $200,000 175,000 Inventory 170,000 130,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 300,000 410,000 Net credit sales 900,000 700,000 Cost of goods sold 530,000 600,000 Interest expense 40,000 25,000 Income tax expense 60,000 29,000 Net income 120,000 85,000 Net cash provided by operating activities 250,000 135,000 Instructions Answer the following questions relating to the year ended December 31, 2017. Show computations. 1. The inventory turnover for 2017 is 2. The number of times interest earned in 2017 is 3. The accounts receivable turnover for 2017 is 4. The return on assets for 2017 is
- Ivanhoe Automotive’s balance sheet at the end of its most recent fiscal year shows the following information: Ivanhoe AutomotiveBalance Sheet as of March 31, 2017 Assets: Liabilities and Equity: Cash and marketable sec. $40,000 Accounts payable and accruals $168,000 Accounts receivable 158,000 Notes payable 27,000 Inventory 232,000 Total current assets $430,000 Total current liabilities $195,000 Long-term debt 172,000 Total liabilities $367,000 Net plant and equipment 780,000 Common stock 317,000 Goodwill and other assets 92,000 Retained earnings 618,000 Total assets $1,302,000 Total liabilities and equity $1,302,000 In addition, it was reported that the firm had a net income of $159,000 on net sales of $4,200,000.Excel Template(Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using…The current sections of Bridgeport Corp.'s balance sheets at December 31, 2016 and 2017, are presented here. Bridgeport Corp.'s net income for 2017 was $153,459. Depreciation expense was $27,081. 2017 2016 Current assets Cash $105,315 $ 99,297 Accounts receivable 80,240 89,267 Inventory 168,504 172,516 Prepaid expenses 27,081 22,066 Total current assets $381,140 $383,146 Current liabilities Accrued expenses payable $ 15,045 $ 5,015 Accounts payable 85,255 92,276 Total current liabilities $100,300 $ 97,291 ember 31, 2017, using Prepare the net cash provided (used) by operating activities section of the company's statement (15,000).) cash flows or the year ende indirect ethod. (Show am that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. Bridgeport Corp. Partial Statement of Cash Flows $ Adjustments to reconcile net income to $ $1Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 Sales $ 1,625.0 $ 2017 1,300.0 Operating costs excluding depreciation and amortization 1,300.0 1,105.0 EBITDA $ 325.0 $ 195.0 Depreciation and amortization 39.0 31.0 Earnings before interest and taxes (EBIT) $ 286.0 $ 164.0 Interest 36.0 29.0 Earnings before taxes (EBT) $ 250.0 $ 135.0 Taxes (40%) 100.0 54.0 Net income $ 150.0 $ 81.0 Common dividends $ 135.0 $ 65.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 Assets Cash and equivalents $ 23.0 $ 2017 18.0 Accounts receivable 164.0 143.0 Inventories 343.0 312.0 Total current assets $ 530.0 $ 473.0 Net plant and equipment 390.0 312.0 Total assets $ 920.0 $ 785.0 Liabilities and Equity…
- Selected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23Bauman Company's total current assets, total current liabilities, and inventory for each of the past4 years follow:Item 2016 2017 2018 2019Total current assets $17,230 $21,720 $22,390 $26,190Total current liabilities 8,860 12,370 13,560 17,120Inventory 5,650 6,930 7,340 7,560a. Calculate the firm's current and quick ratios for each year. Compare the resulting time series for these measures ofliquidity.b. Comment on the firm's liquidity over the 2016-2019 period.c. If you were told that Bauman Company's inventory turnover for each year in the - period and the industryaverages were as follows, would this information support or conflict with your evaluation in part (b).? Why?2016 2019Item 2016 2017 2018 2019Bauman Company 6.3 6.8 7.0 6.4Industry Average 11.4 12.0 11.6 11.8The 2017 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Compute the following ratios for Tootsie Roll for 2017. (a) Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.) enter the asset turnover rounded to 4 decimal places times (b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.) enter the return on assets in percentages rounded to 2 decimal places % (c) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.) enter the profit margin on sales in percentages rounded to 3 decimal places %
- Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Cash Accounts receivable Inventory Net fixed assets 21,900 24,300 Common stock $ 850 $ 1,210 126 Accounts payable 1,370 Short-term notes payable $ 1,080 $ 970 500 0 4,350 4,610 Long-term debt 11,900 13,500 6,000 6,200 Retained earnings Total assets $28,310 $30,406 Total liabilities and owners' equity 8,830 $28,310 $30,406 9,736 2016 Income Statement Sales Cost of goods sold Depreciation Interest Taxes Net income $30,710 18,470 6,132 744 1,824 $ 3,540 What are the values of the three components of the DuPont identity? Use ending balance sheet values. Multiple ChoiceThe 2017 annual report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 0000 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Instructions Compute the following ratios for Tootsie Roll for 2017. a. Asset turnover. b. Return on assets. c. Profit margin on sales. d. How can the asset turnover be used to compute the return on assets?At May 31, 2016, FedEx Corporation reported the following amounts (in millions) in its financial statements: 2016 2015 Total Assets $ 13,200 $ 12,300 Total Liabilities 8,316 7,503 Interest Expense 300 300 Income Tax Expense 480 290 Net Income 1,080 1,000 Required: 1.Compute the debt-to-assets ratio and times interest earned ratio for 2016 and 2015. (Round your answers to 2 decimal places.)
