Financial Reporting, Financial Statement Analysis and Valuation
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN: 9781285190907
Author: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher: Cengage Learning
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Chapter 3, Problem 1CIC
To determine

State the reason for addition of stock-based compensation for computation of cash flow from operations.

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A Comparison of Firm Performance 1 2 2013 Financials 3 Net operating revenues 4 Cost of goods sold 5 Gross profit 6 Selling, general, and administrative expense 7 Other costs 8 Operating income 9 Interest expense 10 Other income (loss) - net 11 Income before income taxes 12 Income taxes 13 Net income 14 Assets 15 Cash and cash equivalents 16 Net receivables 17 Inventories 18 Prepaid expenses and other 19 Total current assets 20 Property, plant and equipment 21 Goodwill 22 Other assets 23 Total assets 24 Liabilities and Stockholder Equity 25 Accounts payable 26 Short-term debt 27 Total current liability 28 Long-term debt 29 Other liabilities 30 Total liabilities 31 Stockholder equity 32 B Walmart 469,162 352,488 116,674 88,873 27,801 2,251 187 25,737 7,981 17,756 7,781 6,768 43,803 1,588 59,940 116,681 20,497 5,987 203,105 59,099 12,719 71,818 41,417 113,235 89,870 C Macy's 27,931 16,725 11,206 8,440 88 2,678 388 (134) 2,156 767 1,389 1,836 371 5,308 361 7,876 8,196 3,743 1,176 20,991…
For this question, please refer to the Fact Pattern below (Same fact pattern as previous question). Given the set of transactions above, what was Adjusted EBITDA in 2021? O $1,107.2 O $1,082.2. O $1,068.2 $1,092.2 Activities during the year: Capital expenditures Cost of Goods Sold (excluding D&A) Dividend Payout Ratio (dividends/ net income to common shareholders) Income Tax Net Interest Expense Net Revenues Non-controlling Interest Expense (After-Tax) Litigation Expense Other Operating Expenses (excluding D&A) Purchases of intangible assets Preferred dividends Research And Development (excluding D&A) Proceeds from sale of land with book value of $15 Selling, General, & Administrative (excluding D&A) Write-down of PP&E 2021 580.0 3,256.0 40% 35% 45.6 5,800.0 25.0 97.0 16.5 45.0 5.0 56.3 20.0 1,488.0 7.0
Required: 1. Calculate the total current assets at December 31, 2021. 2. Calculate the total liabilities and stockholders' equity at December 31, 2021. 3. Calculate the earnings from operations (operating income) for the year ended December 31, 2021. 4. Calculate the net income (or loss) for the year ended December 31, 2021. 5. What was the average income tax rate for the company for 2021? 6. If 48,000 of dividends had been declared and paid during the year, what was the January 1, 2021, balance of retained earnings? Assume that all balance sheet items reflect account balances at December 31, 2021 of ABC Ind, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales 99,000…

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Financial Reporting, Financial Statement Analysis and Valuation

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