The following information is reported for Kinney Corporation at the end of 2013. Accounts Receivable $23,000 Retained Earnings Accounts Payable $11,000 Supplies Inventory $9,000 Cash $8,000 Equipment $138,000 Common Stock $110,000 a. Compute the amount of retained earnings at the end of 2013. b. If the amount of retained earnings at the beginning of 2013 was $30,000, and $12,000 in cash dividends were declared and paid during 2013, what was its net income for 2013?
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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.Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.The following information was available for the year ended December 31, 2016: Sales $ 460,000 Net income 66,140 Average total assets 760,000 Average total stockholders' equity 365,000 Dividends per share 1.33 Earnings per share 3.00 Market price per share at year-end 27.60 a. Calculate margin, turnover, and ROI for the year ended December 31, 2016. (Round your intermediate calculations and final answers to 2 decimal places.) b. Calculate ROE for the year ended December 31, 2016. (Round your answer to 2 decimal places.) c. Calculate the price/earnings ratio for 2016. (Round your answer to 2 decimal places.) d. Calculate the dividend payout ratio for 2016. (Round your answer to 2 decimal places.) e. Calculate the dividend yield for 2016. (Round your answer to 2 decimal places.)
- Retained earnings 95,380 65,590 48,000 The 2017 net income was $30,590, and the 20Y6 net income was $18,390. No dividends on common stock were declared between 2015 and 20Y7. Preferred dividends were declared and paid in full in 2016 and 2017, a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 2016 and 2017. When required, round your answers to one decimal place. 20Y7 Return on total assets Return on stockholders' equity Return on common stockholders' equity b. The profitability ratios indicate that the company's profitability has debt. %6 96 % 20Y6 % % % the return on stockholders' equity in both years, there must be Since the return on assets is leverage from the use ofQualls Corporation reported 2017 earnings per share of $7.21. In 2018, Qualls reported earnings per share as follows. On income from continuing operations $6.40 On discontinued operations 1.88 On net income $8.28 Is the increase in earnings per share from $7.21 to $8.28 afavourable trend?s The 2021 income statement of Adrian Express reports sales of $22,110,000, cost of goods sold of $12,950,000, and net income of $2,260,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Gross profit ratio Return on assets ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 Profit margin Asset turnover Return on equity Profitability Ratios Industry averages for the following profitability ratios are as follows: Gross profit ratio Mes % $ 45% 25% 15% 15.5 times. 35% 2021 2020 980,000 1,950,000 2,490,000 5,180,000 4,480,000 $10,600,000 $8,640,000 $1,000,000 1,310,000 1,850,000 Required: 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) $ 2,228,000 $1,928,000…
- The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 2017, 20Y6, and 2015: December 31 Total assets Notes payable (8% interest) Common stock Preferred 4% stock, $100 part (no change during year) 20Y7 $204,000 70,000 28,000 14,000 20Y6 $184,000 70,000 28,000 14,000 73,380 Retained earnings 51,840 42,000 The 2017 net income was $22,100, and the 20Y6 net income was $10,400. No dividends on common stock were declared between 20Y5 and 2017. Preferred dividends were declared and paid in full in 2016 and 20Y7. a. Determine the return on total assets, the rate earned on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. When required, round to one decimal place. 20Y7 20Y6 Return on total assets Return on stockholders' equity Return on common stockholders' equity b. The profitability ratios indicate that Vidahill Inc.'s profitability has % % 20Y5 $164,000 70,000 28,000 % 14,000 M % % Since the rate…The 2021 income statement of Adrian Express reports sales of $15,642,000, cost of goods sold of $9,351,500, and net income of $1,590,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 Common stock Retained earnings Total liabilities and stockholders' equity Average collection period Average days in inventory Current ratio Debt to equity ratio Industry averages for the following four risk ratios are as follows: Risk Ratios Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days 2 to 1 50% days days 2021 Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.) to 1 % 2020 $ 590,000 1,380,000 $750,000 990,000…The following information is reported for Kinney corporation at the end of 2013.
- The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 Total assets Notes payable (8% interest) Common stock Preferred 5% stock, $100 par (no change during year) Retained earnings 20Y7 $209,000 70,000 28,000 14,000 Return on total assets debt. 20Y6 72,140 The 20Y7 net income was $20,790, and the 20Y6 net income was $10,750. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. 20Y7 $188,000 70,000 28,000 14,000 0.25 52,050 a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. Return on stockholders' equity Return on common stockholders' equity b. The profitability ratios indicate that the company's profitability has X % % 20Y5 % $167,000 70,000 28,000 14,000 42,000 the return on…The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses: Operating expenses. Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds $852,000 27,000 7,400 12,000 42,000 $3,006,000 1,944,000 1,062,000 940, 400 $ 121,600 VIRTUAL GAMING SYSTEMS Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable. Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Balance Sheets December 31 2021 $180,000 75,000 99,000 11,400 99,000 204,000 264,000 (63,000) $869,400 $ 60,000 4,800 12,000 279,000 294,000 219,600 2020 $138,000 54,000 129,000…The 2024 income statement of Adrian Express reports sales of $21,110,000, cost of goods sold of $12,700,000, and net income of $2,060,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity Industry averages for the following ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 Gross profit ratio Return on assets 45% 25% 15% Profit margin Asset turnover Return on equity 2.5 Ratios 35% times Required 1 Required 2 Calculate the five ratios listed above for Adrian Express. Note: Round your answers to 1 decimal place. Complete this question by entering your answers in the tabs below. Required: 1. Calculate the five ratios listed above for…
