FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- The table below shows the manufacturing costs, overhead and profit of a company between 2016 and 2019. The total bars represent the revenues. What line item experienced the biggest year-on-year growth rate across any of these years? SELECT ONLY ONE Profit Overhead $8,000 Revenues $35,000 $30,000 $9,000 $25,000 $20,000 $15,000 $4,000 $10,000 $3,000 $3,500 $3,000 $16,000 $3,000 $5,000 $2,000 $6,000 $7,000 $4,000 $- 2016 2017 2018 2019 Manufacturing cost Overhead ■Profit Manufacturing costarrow_forwardVikings Inc., is developing a pro forma income statement for the coming year. The chief financial officer estimates that sales will be $150,000,000. If gross profits are historically 36% of sales, what is the expected cost of goods sold (in dollars)? a) $36,000,000 b) $54,000,000 c) $64,000,000 d) $96,000,000 NOTE: In your Excel spreadsheet, all calculations must be includedarrow_forwardGive me correct answerarrow_forward
- Krogen Grocer’s 2016 financial statements show net income of $1,680 million, sales of $153,466 million, and average total assets of $46,350 million.How much is Krogen Grocer’s return on sales for the year? Question 22 options: A) 1.09% B) 30.20% C) 3.62% D) 6.42%arrow_forwardWhat is the sustainable growth rate for 2015? Narrow Falls Lumber 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT Interest Taxable income Taxes Net income Dividends Cash Accounts receivable Inventory Net fixed assets Total assets Select one: a. 10.91% b. 14.46% c. 15.54% d. 12.63% e. 13.97% $28,200 $848,600 542,800 147,400 $158,400 12,600 $145,800 51,800 $94.000 Narrow Falls Lumber Balance Sheets as of December 31, 2014 and 2015 2015 2014 $ 32,300 $ 26,900 74,700 72,300 99,500 97,800 707,100 705,000 $913.600 $902,000 Accounts payable Notes payable Long-term debt Common stock and paid-in surplus ($1 par value) Retained earnings Total liabilities & owners' equity 2015 2014 $ 78,900 $ 79,200 40,000 354,500 50,000 295,600 170,000 175,000 319.100 253,300 $913.600 $902,000arrow_forwardSuppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? You must use the built-in Excel function to answer this question. Input area: Year Sales 2016 2017 2018 es es e $ 1,500,000 $ 1,750,000 $ 1,400,000 2019 $ 2,000,000 2020 $ 1,600,000 Output area: Next year's salesarrow_forward
- need both answerarrow_forwardUsing the information provided, what is the length of the production cycle for the firm? Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales $7,500,000 Total Sales $9,000,000 COGS $6,000,000 Allied Industries, Inc. Selected Balance Sheet Accounts 12/31/201712/31/2016Change Accounts Receivable $270,000 $240,000 $30,000 Inventory $125,000 $100,000 $25,000 Accounts Payable $110,000 $90,000 $20,000arrow_forwardWhat is the impact on retained earnings each year?arrow_forward
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