The following data were taken from the year-end records of Nomura Export Company:Statement of Earnings ItemsYear 1Sales revenueCost of salesGross profitOperating expensesEarnings before income taxesIncome tax expense (20%)Net earningsEarnings per share (10,000 sharesoutstanding)Statement of Earnings ItemsSales revenueCost of salesGross profitOperating expensesEarnings before income taxesIncome tax expense (20%)Net earningsEarnings per share (10000 shares)Required:Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.)Year 121,750?68%?21,750???2.902.90$Year 2$ 219,000Year 2219,000?30%?30,000???30,000

Statement of earnings is presented below.Explanation:

Answered: The following data were taken from the…

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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The following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the earning per share for the company? 0.20. 0.33. 0.40. 0.50.
Waller Company does business in two regional segments: North and South. The following annual revenue information was determined from the accounting system's invoice data: Current Year Prior Year Segment North South $ 80,000 260,000 $100,000 200,000 Total revenues $340,000 $300,000 Using horizontal analysis, determine the percentage change in revenues for the North region. Round to one decimal place. Oa. (20.0)% Ob. (22.4)% Oc. 22.4% Od. 20.0%
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Sedona Corporation declared and paid a cash dividend of $6,800 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year Income Statement $ 120,000 56,000 64,000 38,000 4,200 21,800 6,540 $ 15,260 $ 107,000 52,000 55,000 34,600 4,200 16,200 4,860 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income $ 11,340 Balance Sheet Cash $ 72,110 19,000 27,000 97,000 $ 215,110 $ 44,000 1,050 42,000 87,050 91,200 36,860 Accounts Receivable, Net Inventory Property and Equipment, Net $ 36,000 14,000 40,000 107,000 $ 197,000 $ 34,800 600 42,000 77,400 91,200 28,400 Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity $ 215,110 $ 197,000
The most recent financial statements for Martin, Inc., are shown here: Income Statement $18,000 -10,800 $7,200 -1,512 Sales Costs Taxable income Taxes (21%) Net income $5,688 Balance Sheet $40,000 33,800 Assets $73,800 Debt Equity Total $73,800 Total $73,800 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $985 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $22,320. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Selected income statement data follow for Harper, Inc., for the year ended December 31 (in thousands). What is the company's times interest earned ratio? Operating income before interest Interest expense Operating income after interest Income tax Income after tax 35.6 30.6 11.2 24.4 6,617 189 6.428 1,607 4,821
Subject - account Please help me. Thankyou.
Create a Balance sheet for this information given:
The following data were taken from the year-end records of Nomura Export Company: Statement of Earnings Items Year 1 Sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (10,000 shares outstanding) Statement of Earnings Items Sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (10000 shares) Year 1 19,500 Year 2 ? $ 216,000 2.60 68% ? 19,500 ? ? ? 2.60 Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Year 2 $ 216,000 ? 30% ? 24,000 24,000 ? ? ?
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1
The following infornation relates to Hodge Unlimited for the past two years. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long - term assets Total current liabilities Total long- term liabilities Common stock, no par, 2,500 shares, market value $96 per share Retained earnings The current ratio for the current year is closest to Current year $219,000 S125,000 $94,000 $32,000 $2,000 S25,000 $75,000 $26.000 $65,000 $2,000 $168,000 $162,750 $110,000 $22,000 $40,000 $158,750 Prior year $180,000 $110,000 $70,000 $30,000 $7,000 $18.000 S17,000 $35,000 $60,000 $1,000 $113,000 $187,751 S90,000 $78,000 $40,000 $92,751 A. 1.53. B. 2.24. C. 1.29. D. 1.51.

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