The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s) 2016 2015 Assets Cash $ 125 $ 110 Accounts receivable 151 155 Short-term investment 56 20 Inventory 155 150 Land 114 140 Buildings and equipment 740 560 Less: Accumulated depreciation (211) (155) $ 1,130 $ 980 Liabilities Accounts payable $ 46 $ 51 Salaries payable 4 7 Interest payable 5 4 Income tax payable 9 13 Notes payable 0 36 Bonds payable 332 260 Shareholders' Equity Common stock 435 360 Paid-in capital—excess of par 200 180 Retained earnings 99 69 $ 1,130 $ 980 WRIGHT COMPANY Income Statement For Year Ended December 31, 2016 ($ in 000s) Revenues: Sales revenue $ 640 Expenses: Cost of goods sold $ 290 Salaries expense 95 Depreciation expense 56 Interest expense 19 Loss on sale of land 4 Income tax expense 96 560 Net income $ 80 Additional information from the accounting records: a. Land that originally cost $26,000 was sold for $22,000. b. The common stock of Microsoft Corporation was purchased for $36,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $180,000 cash. d. A $36,000 note was paid at maturity on January 1. e. On January 1, 2016, bonds were sold at their $72,000 face value. f. Common stock ($75,000 par) was sold for $95,000. g. Net income was $80,000 and cash dividends of $50,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2016. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).)

Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2018 and 2017, and the increases or decreases in each account from 2017 to 2018. Also presented is selected income statement information for the year ended December 31, 2018, and additional information.  Selected Balance Sheet Accounts 2018 2017 Increase(Decrease) Assets                   Accounts receivable $ 54,000   $ 34,000   $ 20,000   Property, plant, and equipment   297,000     257,000     40,000   Accumulated depreciation   (198,000 )   (177,000 )   21,000   Liabilities and Stockholders’ Equity                   Bonds payable   79,000     66,000     13,000   Dividends payable   13,000     9,000     4,000   Common stock, $1 par   42,000     29,000     13,000   Additional paid-in capital   14,000     7,000     7,000   Retained earnings   124,000     101,000     23,000                       Selected Income Statement Information for the Year Ended December 31, 2018   Sales…

Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Bramble Company 2022 $1,896,000 1.020,048 257,856 Return on assets 7,584 54,984 322,500 520,800 O 64,200 Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 2021 Return on common stockholders' equity 520,800 64,200 Debra Company $561,000 297,330 79,662 3,927 6,171 $310,000 83,500 $78,000 500,300 139,800 123,000 75,600 29,600 108,400 498,000 172,700 2022 34,400 500,300 2021 498,000 146,300 Bramble Company 75,600 90,400 67.2 % % 139,800 34,400 28,400 122,500 Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) 38,000 123,000 Debra Company 29,600…

[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets 2020 2021 $548,688 $ 420,340 330,310 263,974 218,378 156,366 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 Common stock Other paid-in capital Retained earnings Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income December 31 2021 $ 62,574 % 0 % $ 41,881 $ 55,985 1,200 3,920 114,438 103,962 61,920 $177,012 $ 147,043 $ 121,825 $ 25,844 65,000 8,125…

Our Selected account balances of Connell Company for 2015 along with additional information as of December 31 are as follows: LEI Bad Debt Expense $ 32,000 DIvidend Revenue $ 35,000 Delivery Expense 425,000 Dividends 150,000 Depreciation Expense- Employee Pension Expense 190,000 Delivery Trucks Depreciation Expense-- Office Building Depreciation Expense- Office Equipment Depreciation Expense- Store Equipment Loss on Write-Down of Obsolete Inventory $ 75,000 Miscellaneous General Expenses Miscellaneous Selling Expenses Officers' and Office Salaries 29,000 Freight-In 145,000 Gain on Sale of Office Equipment 8,000 25,000 Income Taxes, 2015 427,425 Interest Revenue 10,000 10,000 Inventory, January 1, 2015 Loss on Sale of Investment 775,000 25,000 Securities 20,000 Purchases $4,633,200 45,000 Retained Earnings, January 1, 2015 550,000 50,000 Sales 8,125,000 55,000 95,000 550,000 Sales Discounts Property Taxes Expense Purchase Discounts 100,000 Sales Returns and Allowances 47,700 Sales…

Use the following tables to answer the question:   LOGIC COMPANY Income Statement For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Gross sales 19,800 15,600 Sales returns and allowances 900 100 Net sales 18,900 15,500 COGS 11,800 8,800 Gross profit 7,100 6,700 Depreciation 780 640 Selling and administrative expenses 2,800 2,400 Research 630 540 Miscellaneous 440 340 Total operating expenses 4,650 3,920 Income before interest and taxes 2,450 2,780 Interest expense 640 540 Income before taxes 1,810 2,240 Provision for taxes 724 896 LOGIC COMPANY Balance Sheet For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Current assets 12,300 9,400 Accounts receivable 16,900 12,900 Merchandise inventory 8,900 14,400 Prepaid expenses 24,400 10,400 Total current assets 62,500 47,100 Building (net) 14,900 11,400 Land 13,900 9,400 Total plant and equipment 28,800 20,800 Total assets 91,300 67,900 Accounts payable 13,400 7,400 Salaries payable 7,500 5,400 Total current…

Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 10,950 8,000 425 $ 2,525 102 $ 2,423 848 $ 1,575 Windswept, Incorporated 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 Cash $ 290 $ 320 Accounts payable $ 1,830 2017 $ 1,887 Accounts receivable 1,130 1,030 Long-term debt 1,080 Inventory 2,030 1,760 Common stock Total $ 3,450 $ 3,110 Retained earnings 3,380 660 1,363 3,040 910 Net fixed assets 3,500 4,090 Total assets $ 6,950 $7,200 Total liability & equity $ 6,950 $ 7,200 What is the equity multiplier for 2017? Multiple Choice ○ 2.37 times ○ 1.35 times ○ 2.77 times ☐ 1.82 times о 3.60 times

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts rec.. Inventory Total Net fixed assets Total assets $11,400 8,150 440 $ 2,810 108 $ 2,702 946 $1,756 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 320 $ 350 What is the equity multiplier for 2017? Accounts payable 1,190 1,090 Long-term debt 2,120 1,805 Common stock $3,630 $3,245 Retained earnings 3,560 4,180 $7,190 $7,425 Total liab. & equity 2016 2017 $1,950 $2,022 1,110 1,393. 3,440 3,070 690 940 $7,190 $7,425

opines Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (N) Dividend Accessibility: Investigate $ 200 450 550 $1,200 2.200 (1,000) 1,200 2015 $2,400 $ 200 0 $ 200 $ 2015 300 600 700 $1,600 $2,400 $1,200 700 30 220 $ 250 50 $ 200 1180 $ 120 600 mm 2016 $1,450 850 40 200 $ 360 60 $ 300 120 180 80 $ 2016 $…

Required information   [The following information applies to the questions displayed below.]  Simon Company’s year-end balance sheets follow.   At December 31 2017 2016 2015 Assets                   Cash $ 31,800   $ 35,625   $ 37,800   Accounts receivable, net   89,500     62,500     50,200   Merchandise inventory   112,500     82,500     54,000   Prepaid expenses   10,700     9,375     5,000   Plant assets, net   278,500     255,000     230,500   Total assets $ 523,000   $ 445,000   $ 377,500   Liabilities and Equity                   Accounts payable $ 129,900   $ 75,250   $ 51,250   Long-term notes payable secured bymortgages on plant assets   98,500     101,500     83,500   Common stock, $10 par value   163,500     163,500     163,500   Retained earnings   131,100     104,750     79,250   Total liabilities and equity $ 523,000   $ 445,000   $ 377,500       The company’s income statements for the years ended December 31, 2017 and 2016, follow.…