STEM EXAM 1 File

Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74

ect Assignment The preliminary 2024 income statement of Alexian Systems, Incorporated, is presented below: ALEXIAN SYSTEMS, INCORPORATED Income Statement. For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains. Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 435 6 128 569 247 158 41 446 $123 $ 12.30 Saved Help Additional information: 1. Selling and administrative expense includes $28 million in restructuring costs. 2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $8 million is from the gain on sale of investments. 3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.…

A10

21p1

C1

E 18-1 Comprehensive The following is from the 2018 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December 31 income • LO18-2 2018 2017 2016 Net income $856 $766 $594 Other comprehensive income: Change in net unrealized gains on investments, net of tax of $22, ($14), and $15 in 2018, 2017, and 2016, respectively 34 (21) 23 Other (2) $888 (1) $744 $618 Total comprehensive income Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders equity as follows: ($ in millions) 2018 2017 Shareholders' equity: Common stock 355 355 Additional paid-in capital Retained earnings Accumulated other comprehensive income 8,567 6,544 8,567 5,988 107 75 Total shareholders'equity $15,573 $14,985 Required: 1. What is comprehensive income and how does it differ from net income? 2. How is comprehensive income reported in a balance sheet? 3. Why is Kaufman's 2018 balance sheet amount different from the 2018 amount…

6

Perform a horizontal analysis of the company

Company C had the following investment. Help them determine the financial statement implications of the investment. Tax rate Estimated tax payment 21% 21,000 Investment cost and ending fair values for 20X1 and 20X2: 20X1 20X2 Cost Fair value Total gain 100,000 110,000 10,000 100,000 134,000 34,000 20X1 income statement information: Sales Expenses 1,670,200 1,536,600 Assuming the investement is short-term, what is the deferred taxes payable on the 20X1 balance sheet?

Compute NET Profit margin ratio

ACC610

Problem 19-4 Per-Share Ratios (LO3, CFA6) You are given the following information for Smashville, Incorporated. Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: $ 200,000 $ 2,700 $ 333,000 $ 47,000 $ 7,400 $ 16,000 21% $ 26,000 $ 21,000 $ 21,000 Other assets: $ 43,000 $ 159,000 Other liabilities: $ 5,000 Fixed assets: Investments: Operating assets: $ 47,000 $ 39,000 During the year, Smashville, Incorporated, had 20,000 shares of stock outstanding and depreciation expense of $15,000. Calculate the book value per share, earnings per share, and cash flow per share. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Book value per share Earnings per share Cash flow per share $ 12.85

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable. 2021 $ 706,675 363,004 34,274 2020 2019 $464,918 $ 371,9341 238,808 193, 136 27,058 25,477 2018 $ 260,094 133,898 15,268 2017 $ 194, 100 98,991 13,296 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.

Problem 17-5 (AICPA Adapted) Investment in Hall Company at equity statement of financial position: Accounts receivable, net of allowance Fearsome Company showed the following comparative 2021 2020 Cash and cash equivalents 2,350,000 600,000 1,000,000 2,200,000 2,000,000 5,000,000 1,050,000) ( 800,000) 400,000 350,000 700,000 850,000 2,000,000 1,500,000 4,000,000 Inventory Land Property, plant and equipment. Accumulated depreciation Goodwill 400,000 12,500,000 9,000,000 Accounts payable Note payable - long term Bonds payable Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 600,000 500,000 1,600,000 5,250,000 2,700,000 1,850,000 550,000 2,100,000 4,000,000 1,750,000 1,300,000 700,000) 12,500,000 9,000,000 Additional information for 2021 1. The net income for the current year was P3,050,000. 2. Cash dividend paid amounted to P2,500,000. 3. The entity sold equipment costing P200,000, with carrying amount of P50,000, for P70,000 cash. 4. The entity issued…

man.1

O Cambridge Busines P Module 11 I Financial Statement Forecasting LO2 M11-12. Forecast an Income Statement SATE OLOGY STX) SEAGATE TECHNOLOGY PLC Consolidated Statement of Income For Year Ended June 28, 2019, $ millions BC $10,390 Revenue. 7,458 Cost of revenue 991 Product development Marketing and administrative Amortization of intangibles. Restructuring and other, net. 453 23 (22) Total operating expenses. 8,903 Income from operations. 1,487 Interest income 84 Interest expense Other, net (224) 25 Other expense, net. (115) Income before incorne taxes (Benefit) provision for income taxes 1,372 (640) Net income.. $ 2,012 Forecast Seagate's 2020 income statement assuming the following income statement relations (ST Revenue growth. Cost of revenue Product development Marketing and administrative Amortization of intangibles. Restructuring and other, net, Interest income... Interest expense. Other, net Income tax rate. 5% 71.8% of revenue 9.5% of revenue 4.4% of revenue No change $0 No…

Correct answer please Q11

Exercise 12-JA Cvaiuate risk ratios (LU12-3) The 2021 income statement of Adrian Express reports sales of $18,957,000, cost of goods sold of $11,971,500, and net income of $1,690,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31. 2021 and 2020 2021 2020 Assets Current assets: Cash Accounts receivable Inventory $ 690, 000 1, 580, 000 $ 850, 000 1, 090, 000 1, 490, 000 1, 980, 000 4, 330, 000 $7, 760, 000 Long-term assets 4, 890, 000 Total assets $9, 140, 000 Liabilities and Stockholders' Equity Current liabilities $1,930, 000 2, 390, 000 1,910, 000 2, 910, 000 $1, 750, 000 Long-term liabilities 2, 490, 000 1,910, 000 Common stock Retained earnings 1, 610, 000 Total liabilities and stockholders' equity $9, 140, 000 $7, 760, 000 Industry averages for the following four risk ratios are as follows: Average collection period Average days in inventory Current ratio 25 days 60 days 2 to 1 Debt to equity ratio 50% Required: 1. Calculate…