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- Using the following Company X information, prepare a Retained Earnings Statement: Retained earnings balance January 1, 2019, $121,500 Net income for year 2019, $145,800 Dividends declared and paid for year 2019, $53,000Using the information below calculate the ROC of the company Years Revenue ($M) Net Income ($M) 2012 221.8 2.9 2013 473.8 20.2 2014 627.7 36.4 2015 947.8 45.0 2016 1,015.5 50.3 2017 1,046.2 64.9 2018 1,293.2 90.4 Years Total Assets ($M) Fixed Assets ($M) Current Assets ($M) Total Equity ($M) Retained Earnings ($M) 2012 430 286 144 293 12.8 2013 956 501 455 558 33.0 2014 922 668 324 620 69.4 2015 1103 796 307 665 114.4 2016 1120 835 285 729 164.7 2017 1294 738 556 805 229.6 2018 2053 703 1350 934 320K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
- Abcde Trading has reported the following from its business operation from period 2008 through 2019: a. Sales (32,067, 35,422, 70,881, 95,519, 122,128, 165,654, 188,793, 232,834, 263,159, 273,046, 269,693, 294,619) b. Expenses (28,320, 31,490, 69, 371, 84, 747, 105,310, 144,175, 164,799, 198,966, 224,105, 236,388, 240,171, 261,738) c. Other Income (534, 849, 1,039, 2,103, 660, 662, 816, 829, 899, (932), 1,937, 4,509) d. Interest (465, 913, 2,171, 2,465, 2,385, 2,982, 3,560, 4,749, 4,861, 4,889, 4,283, 4,682) e. Prevailing tax rate is 28.23% (round off amount) Prepare the following: 1. Individual P & L using multiple worksheets. 2. Consolidated P & L for the period 2008 - 2019.Bauman 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 11.8Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
- How much uncollectible accounts expense should be presented on the statement of comprehensive income for the year ended December 31, 2018? 160,600 194,000 240,600 254,600Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%Liverton Co.’s income statement for the year ended 31 March 2019 and statements of financial position at 31 March 2019 and 2018 were as follows in the images. Calculate for the financial year ended 31 March 2019 and, where possible, for 31 March 2018, the following ratios: i) Gross profit marginii) Assets usageiii) Current ratioiv) Acid testv) Inventories holding periodvi) Debt to Equity ratio
- The following information is taken Aiello Corporation's fiscal 2016 annual report. Selected Balance Sheet Data 2016 2015 Inventories........................ $221,418 $226,893 Accounts Receivable........... $121,333 $122,087 Assume that Aiello Corporation had $1,003,881 sales on credit during fiscal year 2016. What amount did the company collect from credit customers during the year? a. $1,003,881 b. $1,004,635 c. $1,003,127 d. $1,247,301Lily Company's income statement contained the following condensed information. LILY COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 2021 $75,500 $61,000 28,300 Lily's balance sheets contained the comparative data at December 31, shown below. 41.000 For Income Taxes 12,200 For Operating Expenses Cash Flows from Operating Activities Cash Receipts from Customers Less V cash payments: $624,200 6,700 Net Cash Provided by Operating Activities 55,500 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) 25,000 $969,000 $ 704,700 264,300 39,700 $224,600 LILY…Access the February 21, 2017, filing of the December 31, 2016, 10-K report of The Hershey Company (ticker: HSY) at SEC.gov and complete the following requirements. Required Compute or identify the following profitability ratios of Hershey for its years ending December 31, 2016, and December 31, 2015. Interpret its profitability using the results obtained for these two years. 1. Profit margin ratio (round the percent to one decimal). 2. Gross profit ratio (round the percent to one decimal). 3. Return on total assets (round the percent to one decimal). (Total assets at year-end 2014 were $5,622,870 in thousands.) 4. Return on common stockholders’ equity (round the percent to one decimal). (Total shareholders’ equity at year-end 2014 was $1,519,530 in thousands.) 5. Basic net income per common share (round to the nearest cent).