PenTech Corporation - Financial Projection (FIN 4596 Private Case) -Student Spreadsheet

Excerpts from the annual report of XYZ Corporation follow: 2019 $675,138 $241,154 $64,150 $93,650 $25,100 2020 Cost of goods sold Inventory Net income $754,661 $219,686 $31,185 $68,685 $26,900 Retained earnings LIFO reserve Tax rate 20% 20% If XYZ used FIFO, its net income for fiscal 2020 would be O a. $34,165 O b. $30,375 O c. $32,625 d. $36,545

please explain the result of income statement that provided in image below

Operating data for Joshua Corporation are presented below.     2020   2019 Sales revenue   $ 755,000   $ 604,000 Cost of goods sold   464,325   386,560 Selling expenses   118,535   75,500 Administrative expenses   58,135   54,360 Income tax expense   37,750   24,764 Net income   76,255   62,816 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)

Veery Beery Company Statement of Comprehensive Income For the Year-ended December 31 2019 2020 Sales P 10,040,000 P 8,760,000 Cost of Goods Sold 5,680,000 5,860,000 Gross Profit 4,360,000 2,800,000 Operating Expenses Operating Income Interest Expense 1.160,000 1.680,000 1,220,000 3,200,000 100,000 28.000 Net Income P 3.1000,000 PI192,000 Veery Beery Company Statement of Financial For the Year-ended December 31 2019 2020 Cash P 400,000 180,000 Short-term investments 5,600,000 1,800,000 Accounts receivable 1,480,000 1,060,000 Inventory Other Current Assets Total Current Assets 1,380,000 1,640,000 8,860,000 4,680,000 10,860,000 5,040,000 Equipment 6,800,000 5,200,000 P 17,660,000 10,240,000 P 6,600,000 Total Assets Accounts Payable Notes Payable - long term Owner, Capital 2,620,000 2,460,000 2,120,000 8.600.000 5.500.000 Total liabilities and equity P 17,660,000 10,240,000 Requirements: a. Compute for the company's profitability and operating efficiency ratios for 2020. b. Compute for the…

2021 2020 2019 2018 2017 Sales $ 489,967 $ 322,347 $ 256,850 $ 180,880 $ 136,000 Cost of goods sold 252,383 166,097 134,444 94,199 69,360 Accounts receivable 23,763 18,857 17,594 10,600 9,302 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.

Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 2019 Sales $ 429,809 $ 329,269 $ 228,500 Cost of goods sold 258,745 207,439 146,240 Gross profit 171,064 121,830 82,260 Selling expenses 61,033 45,439 30,162 Administrative expenses 38,683 28,976 18,966 Total expenses 99,716 74,415 49,128 Income before taxes 71,348 47,415 33,132 Income tax expense 13,271 9,720 6,726 Net income $ 58,077 $ 37,695 $ 26,406 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 58,039 $ 38,846 $ 51,928 Long-term investments 0 1,100 3,100 Plant assets, net 106,146 96,441 57,969 Total assets $ 164,185 $ 136,387 $ 112,997 Liabilities and Equity Current liabilities $ 23,971 $ 20,322 $ 19,774 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 5,444 Retained earnings 64,839 40,690 38,779 Total liabilities and equity $ 164,185 $ 136,387 $…

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Calculate the FCFE of this financial statement.

Using Financial Statements for 2020, return on sales for the year 2020 is 0.18. True or False?

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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31   2021 2020 2019 Sales $ 426,799 $ 326,963 $ 226,900 Cost of goods sold 256,933 204,352 145,216 Gross profit 169,866 122,611 81,684 Selling expenses 60,605 45,121 29,951 Administrative expenses 38,412 28,773 18,833 Total expenses 99,017 73,894 48,784 Income before taxes 70,849 48,717 32,900 Income tax expense 13,178 9,987 6,679 Net income $ 57,671 $ 38,730 $ 26,221   KORBIN COMPANY Comparative Balance Sheets December 31   2021 2020 2019 Assets       Current assets $ 60,849 $ 40,727 $ 54,442 Long-term investments 0 700 3,020 Plant assets, net 111,285 101,564 61,006 Total assets $ 172,134 $ 142,991 $ 118,468 Liabilities and Equity       Current liabilities $ 25,132 $ 21,306 $ 20,732 Common stock 63,000 63,000 45,000 Other paid-in capital 7,875 7,875 5,000 Retained earnings 76,127 50,810…

Selected comparative financial statements of Korbin Company follow.  KORBIN COMPANY Comparative Income Statements For Years Ended December 31   2021 2020 2019 Sales $ 508,246 $ 389,358 $ 270,200 Cost of goods sold 305,964 246,853 172,928 Gross profit 202,282 142,505 97,272 Selling expenses 72,171 53,731 35,666 Administrative expenses 45,742 34,264 22,427 Total expenses 117,913 87,995 58,093 Income before taxes 84,369 54,510 39,179 Income tax expense 15,693 11,175 7,953 Net income $ 68,676 $ 43,335 $ 31,226   KORBIN COMPANY Comparative Balance Sheets December 31   2021 2020 2019 Assets       Current assets $ 60,248 $ 40,324 $ 53,904 Long-term investments 0 1,000 3,350 Plant assets, net 113,627 103,113 62,412 Total assets $ 173,875 $ 144,437 $ 119,666 Liabilities and Equity       Current liabilities $ 25,386 $ 21,521 $ 20,942 Common stock 66,000 66,000 48,000 Other paid-in capital 8,250 8,250 5,333 Retained earnings 74,239 48,666…

Selected comparative financial statements of Korbin Company follow.  KORBIN COMPANY Comparative Income Statements For Years Ended December 31   2021 2020 2019 Sales $ 508,246 $ 389,358 $ 270,200 Cost of goods sold 305,964 246,853 172,928 Gross profit 202,282 142,505 97,272 Selling expenses 72,171 53,731 35,666 Administrative expenses 45,742 34,264 22,427 Total expenses 117,913 87,995 58,093 Income before taxes 84,369 54,510 39,179 Income tax expense 15,693 11,175 7,953 Net income $ 68,676 $ 43,335 $ 31,226   KORBIN COMPANY Comparative Balance Sheets December 31   2021 2020 2019 Assets       Current assets $ 60,248 $ 40,324 $ 53,904 Long-term investments 0 1,000 3,350 Plant assets, net 113,627 103,113 62,412 Total assets $ 173,875 $ 144,437 $ 119,666 Liabilities and Equity       Current liabilities $ 25,386 $ 21,521 $ 20,942 Common stock 66,000 66,000 48,000 Other paid-in capital 8,250 8,250 5,333 Retained earnings 74,239 48,666…

Selected assumptions for 2018 Sales growth rate 9 % Cost of goods sold/Sales 62 % Dividends/Net income 40 %     Income Statement   Balance Sheet   Actual   Forecast     Actual   Forecast   2017   2018     2017   2018 Sales $ 1,000             Cash $ 100           Cost of goods sold   600             Accounts receivable   200           Operating expense   200             Inventory   500           Depreciation expense   100              Total Current Assets   800           EBIT   100             Net PP&E   1,000           Interest expense   35              Total Assets   1,800           Pre-tax income   65             Accounts payable   300           Tax   26             Bank loan   100           Net Income $ 39             Total Current Liabilities   400                             Long-Term Debt   400                             Shareholders' Equity   1,000                             Total Liabilities & Equity $ 1,800…

Percentage of Sales Models Here are the abbreviated financial statements for Planner's Peanuts Income Statement , 2019 Sales $2,000 Cost 1,500 Net Income $ 500     Balance Sheet, Year End         2018 2019   2018 2019 Assets $2,500 $3,000 Debt $ 833 $1,000       Equity 1,667 2,000 Total $2,500 $3,000 Total $2,500 $3,000 a. if sales increase by 20% in 2020 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 20%), what must be the balancing item? b. what will be the value of this balancing item?

Assignment COMPARATIVE STATEMENTS Sikat Manufacturing Corporation Income Statement For the year ended Dec. 31, 2020 and 202019 2020 2019 P 5,150,000 -150,000 5,000,000 3,200,000 1,800,000 Sales 4,250,000 na 250.000 4,000,000 2.600,000 1,400,000 Less: Sales Returns and Allowances Net Sales Less: Cost of Sales Gross Profit Less: Operating Expenses Selling Expenses General and Administrative Expenses Total Operating Expenses Operating Income Less: Interest expense Net Income before tax Less: Income tax.(32% ) Net Income 720,000 780,000 1,500,000 300,000 60,000 240,000 76,800 P 163.200 600,000 600,000 1,200,000 200,000 40,000 160,000 51,200 P 108,800 Sikat Manufacturing Corporation Balance Sheet Dec. 31, 2020 and 2019 2020 2019 ASSETS P 225,000 150,000 240,000 260,000 120,000 150,000 70,000 550,000 P1.765.000 P 1,520,000 Cash P140.000 125,000 180,000 160,000 145,000 170,000 80,000 520,000 Marketable Securities Accounts Receivable Inventories: Finished Goods Work-in-Process Raw Materials…