Expenses:
The expenses that occur during business are called business expenses. To earn revenue some relevant expenses have to pay. Expense may be operating expenses or non operating expense.
Liabilities:
Liabilities are generally the amount owned by the company from lenders, suppliers, or bank. Liabilities are the burden on the company that they have to pay to others.
Equity:
The Company needs finance to run the business. Equity is one of the method through which the company raise the capital.
Return on Assets:
The return on assets is the return earned on the amount invested in assets. The return on assets is also known as the
1.
To compute: Return on assets of S.D Manufactures
2.
To compare: The return on asset of S.D manufactures and its competitor in part 1.
3.
To compute: The total expenses of S.D manufacture.
4.
The average total amount of liabilities and equity of S.D Manufactures.
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FINANCIAL ACCT.FUND.(LOOSELEAF)
- View Policies Current Attempt in Progress Assume Sunland Company has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $649.599, and Operating expenses $215,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit S (c) Compute income from operations.arrow_forwardAssume a company's Income Statement for Year 12 is as follows: Income Statement Data Net Revenues from Footwear Sales Cost of Pairs Sold Warehouse Expenses Marketing Expenses Administrative Expenses Operating Profit (Loss) Interest Income (Expense) Pre-tax Profit (Loss) Income Taxes Net Profit (Loss) Year 12 (in 000s) 5.50. 4.50. 3.15. 2.20 53.0. $530,000 340,000 40,000 80,000 15,000 55,000 (10,000) 45,000 13,500 $31,500 Based on the above income statement data and the formula for calculating the interest coverage ratio described in the Help section for p. 5 of the Footwear Industry Report, the company's interest coverage ratio isarrow_forwardQuestion 8 The Sleazy Corporation prepared the following statement of income and comparative statements of financial position for 2023. SLEAZY CORPORATION Income Statement For the Year Ended 31 January 2023 Sales Less: Cost of Goods Sold Gross Profit Less: Depreciation expense Other operating expenses Plus: Gain on Sale of Equipment Income Before Taxes Income Taxes Net Income SLEAZY CORPORATION Statement of Financial Position At January 31 Assets Cash Accounts Receivable Temporary Investments Merchandise Inventory Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets Liabilities and Shareholders' Equity Accounts Payable Other Accrued Payables Bonds Payable Common Shares Retained Earnings Total Liabilities & Shareholders' Equity $840,000 385,000 455,000 68,600 85,400 49,000 350,000 70,000 $280,000 ======= 2023 $ 14,000 89,600 35,000 336,000 350,000 (75,600) $749,000 ======== $ 70,000 49,000 140,000 210,000 280,000 $749,000 ======== 2022 $ 12,600 77,000 35,000…arrow_forward
- Analyze Home Depot The Home Depot (HD) reported the following data (in millions) in its recent financial statements: a. Determine the asset turnover ratio for Home Depot for Year 2 and Year 1. Round to two decimal places. b. What conclusions can be drawn from these ratios concerning the change in the ability of Home Depot to effectively use its assets to generate sales?arrow_forwardWhat is the gross profit for the year if the net revenue from by-product is treated as additional sales revenue? b. P1,230,000 c. P1,218,000 d. P1,118,000 a. P1,200,000 What is the gross profit for the year if the net revenue from by-product is treated as additional sales revenue? b. P1,230,000 c. P1,218,000 d. P1,118,000 a. P1,200,000arrow_forwardAssume Global Cleaning Service had a net income of $570 for the year. Global Cleaning Service’s beginning and ending total assets were $4,520 and $4,180, respectively. Calculate Global Cleaning Service’s return on assets (ROA) for the year. 12.6% 13.6% 13.1% 7.63%arrow_forward
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