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- The income statement of Barela Corporation for 2020 included the following items: Interest income P100,000; Salaries expense 85,000; Rent expense 18,000; The interest receivable, salaries payable and prepaid rent for the year were increased by P12,000, P3,000 and P 2,000 respectively. The cash paid for rental during 2020 was Choices; 18,000 16,000 20,0001. Calculate the cash operating cycle of Stone Limited for the year ended 30 April, 2018 and 2019.2. Calculate the comparative ratios for Stone limited for the year ended 30 April 2019. (to two decimal places where appropriate).3. Based on the result of the previous year end and the industry average. Draft a report addressed to the Board of Directors of Stone Limited analysing the performance of the company for the year 2019The income statement of Barela Corporation for 2020 included the following items: Interest income P100,000; Salaries expense 85,000; Rent expense 18,000; The interest receivable, salaries payable and prepaid rent for the year were increased by P12,000, P3,000 and P 2,000 respectively. The cash paid for salaries during 2020 was Choices; 85,000 88,000 82,000
- Bannister Company reported operating expenses of $375,000 for 2020. The following data were extracted from the company's financial records: 12/31/19 12/31/20 $ 60,000 $ 69,000 Prepaid Expenses Accrued Expenses 210,000 255,000 On a statement of cash flows for 2020, using the direct method, cash payments for operating expenses should be O a. $339,000 O b. $321,000 O C. $411,000 O d. $429,000Consider the following balance sheets and income statement for Cruyff Enterprises. Cruyff paid $25,000 for rent in 2020. Compute the cash that Cruyff paid for dividends. Cruyff Enterprises Balance Sheets As of December 31, 2020 and 2019 2020 2019 Assets: Cash $18,650 $ 14,900 Accounts Receivable 42,000 36,000 Inventory 60,500 50,000 Prepaid Rent 3,000 1,400 Property, Plant and Equipment 230,000 205,600 Less: Accumulated Depreciation (75,000) (65,000) Total Assets $279,150 $242,900 Liabilities and Stockholders’ Equity: Accounts Payable $26,500 $21,000 Interest Payable 650 400 Unearned Revenue 7,000 10,000 Bonds Payable 37,000 37,000 Common Stock 20,000 15,000 Additional Paid-In Capital 48,000 40,000 Retained Earnings 140,000 119,500…Based on the following quotes 1/1/20 CAD/USD = 1.85 1/1/21 CAD/USD = 2.25 During 2020, the CAD (against the USD). O appreciated by 21.62% O depreciated by 21.62% appreciated by 17.78% O depreciated by 17.78%
- You are considering two possible companies for investment purposes. The following data is available for each company. Company A Net credit sales, Dec. 31, 2019 $540,000 Net Accounts receivable, Dec 31, 2018 $120,000 Net accounts receivable, Dec 31, 2019 $180,000 Number of days sales in receivables ratio, 2018 103 days Net Income, Dec. 31, 2018 $250,000 Company B Net credit sales, Dec. 31, 2019 $620,000 Net Accounts receivable, Dec 31, 2018 $145,000 Net accounts receivable, Dec 31, 2019 $175,000 Number of days sales in receivables ratio, 2018 110 days Net Income, Dec. 31, 2018 $350,000 Additional Information: Company A: Bad debt estimation percentage using the income statement method is 6%, and the balance sheet…Consider the following balance sheet and income statement for Metro Eagle Outfitters, in condensedform, including some information from the cash flow statement:Balance Sheet 2019 2018 2017Cash and short-term investments $ 630,992 $ 745,044 $ 734,693Accounts receivable 46,321 40,310 36,721Inventory 332,452 367,514 301,208Other current assets 132,035 134,620 101,788Total current assets 1,141,800 1,287,488 1,174,410Long-lived assets 582,832 647,482 593,802Total assets $ 1,724,632 $ 1,934,970 $ 1,768,212Current liabilities $ 432,902 $ 405,401 $ 387,837Total liabilities 503,445 517,786 417,141Shareholders’ equity 1,221,187 1,417,184 1,351,071Total debt and equity $ 1,724,632 $ 1,934,970 $ 1,768,212Income StatementSales $ 3,475,802 $ 3,120,065 $ 2,945,294Cost of sales 2,085,480 1,975,471 1,763,143Gross margin $ 1,390,322 $ 1,144,594 $ 1,182,151Operating expenses 988,284 869,385 864,776Earnings before interest and taxes $ 402,038 $ 275,209 $ 317,375Net income $ 232,108 $ 151,705 $…Please do not give solution in image format thanku