Empire_Students_F23 (2)

PNG Company Comparative Balance Sheets For the year ended December 31   20X1 20X0 Current assets     Cash $157,000 $105,000 Accounts receivable 49,000 62,000 Inventory 53,700 36,100 Prepaid rent 11,400 8,300 Total current assets $271,100 $211,400 Long-term assets     Investment in bonds $30,000 $14,800 Land 216,300 184,200 Equipment (net) 114,500 137,900 Total long-term assets $360,800 $336,900 Total assets $631,900 $548,300       Current liabilities     Accounts payable $61,300 $52,700 Interest payable 4,900 8,500 Income tax payable 15,400 12,600 Total current liabilities $81,600 $73,800 Long-term liabilities     Bonds payable $173,800 $205,400 Stockholders' equity     Common stock…

Title INGRAM INDUSTRIES Balance Sheet June 30, 2008 Assets Current assets: Cash (including $13,000 in... Description INGRAM INDUSTRIES Balance Sheet June 30, 2008   Assets Current assets: Cash (including $13,000 in sinking fund for bonds payable) $ 70,000 Marketable securities 23,400 Investment in subsidiary company 23,000 Accounts receivable 21,000 Inventories (lower-of-cost-or-market) 117,00 $254,400 Plant assets: Land and buildings $160,000 Less: Accumulated depreciation 100,000 60,000 Investments: Treasury stock 4,000 Deferred charges: Discount on bonds payable $ 6,000 Prepaid expenses 2,000 8,000 Total Assets $326,400 Liabilities and Stockholders’ Equity Liabilities: Notes payable to bank $ 60,000 Accounts payable 18,000 Bonds payable 61,000 Total liabilities $139,000 Stockholders’ equity: Preferred and common (each $10 par, 5,000 shares preferred and 6,000 shares common) $110,000 Capital in excess of par 61,000 Retained earnings 16,400 187,400 Total liabilities and…

Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1        20Y2      20Y1 Assets   Current assets       Cash $1,013,530   $917,700     Marketable securities 1,533,990   1,520,760     Accounts receivable (net) 978,200   919,800     Inventories 730,000   569,400     Prepaid expenses 191,756   183,540       Total current assets $4,447,476   $4,111,200   Long-term investments 2,479,894   1,119,115   Property, plant, and equipment (net) 5,330,000   4,797,000   Total assets $12,257,370   $10,027,315   Liabilities Current liabilities $1,347,720   $1,776,965   Long-term liabilities:       Mortgage note payable, 8% $1,840,000   $0     Bonds payable, 8% 2,260,000   2,260,000       Total long-term liabilities $4,100,000   $2,260,000   Total liabilities $5,447,720   $4,036,965   Stockholders' Equity     Preferred $0.70 stock, $50 par $850,000   $850,000   Common stock, $10 par 970,000   970,000   Retained earnings 4,989,650…

MONTGOMERY INC.Comparative Balance SheetsDecember 31   Current Year   Prior Year Assets                         Cash   $ 30,800         $ 31,000       Accounts receivable, net     8,900           10,900       Inventory     79,800           63,000       Total current assets     119,500           104,900       Equipment     44,200           37,300       Accum. depreciation—Equipment     (19,900 )         (13,800 )     Total assets   $ 143,800         $ 128,400       Liabilities and Equity                         Accounts payable   $ 21,200         $ 22,900       Salaries payable     400           500       Total current liabilities     21,600           23,400       Equity                         Common stock, no par value     102,400           94,100       Retained earnings     19,800           10,900       Total liabilities and equity   $ 143,800         $ 128,400           MONTGOMERY INC.Income StatementFor Current Year Ended December 31…

SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets       Current assets:       Cash   $ 52,200 Marketable securities     24,400 Accounts receivable (net)     222,000 Inventory     238,000 Total current assets   $ 536,600 Investments     65,900 Plant and equipment. $615,000     Less: Accumulated depreciation 271,000     Net plant and equipment     344,000 Total assets   $ 946,500 Liabilities and Stockholders' Equity       Current liabilities:       Accounts payable   $ 93,400 Notes payable     70,600 Accrued taxes     17,000 Total current liabilities   $ 181,000 Long-term liabilities:       Bonds payable     153,200 Total liabilities   $ 334,200 Stockholders' equity       Preferred stock, $50 par value   $ 100,000 Common stock, $1 par value     80,000 Capital paid in excess of par     190,000 Retained earnings     242,300 Total stockholders' equity   $ 612,300 Total liabilities and stockholders' equity   $ 946,500…

Assets Cash FORTEN COMPANY Comparative Balance Sheets December 31 Current Year $ 49,800 65,810 275,656 Prior Year $ 73,500 50,625 251,800 Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 1,250 392,516 157,500 1,875 377,800 108,000 (46,000) (36,625) $ 513,391 $ 53,141 10,000 63,141 $ 439,800 $ 114,675 6,000 120,675 65,000 48,750 128,141 169,425 162,750 150,250 120,125 ,391 $ 439,800 37,500 185,000 $ 513,5 FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net…

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)

Lydex Company Comparative Balance Sheet Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% Total liabilities Stockholders' equity: $ 1,260,000 This Year Last Year $960,000 0 2,700,000 3,900,000 240,000 7,800,000 9,300,000 $ 17,100,000 300,000 1,800,000 2,400,000 180,000 5,940,000 8,940,000 $ 14,880,000 $ 3,900,000 3,600,000 7,500,000 7,800,000 1,800,000 9,600,000 $ 2,760,000 3,000,000 5,760,000 7,800,000 1,320,000 9,120,000 Common stock, $ 78 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Lydex Company $ 17,100,000 $ 14,880,000 Comparative Income Statement and Reconciliation Sales (all on account) Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes…

CABOT CORPORATIONBalance SheetDecember 31 Assets       Liabilities and Equity       Cash $ 10,000   Accounts payable $ 19,500   Short-term investments   8,000   Accrued wages payable   3,400   Accounts receivable, net   33,600   Income taxes payable   2,900   Merchandise inventory   42,150   Long-term note payable, secured by mortgage on plant assets   66,400   Prepaid expenses   2,800   Common stock   83,000   Plant assets, net   147,300   Retained earnings   68,650   Total assets $ 243,850   Total liabilities and equity $ 243,850      Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)

CABOT CORPORATIONBalance SheetDecember 31 Assets       Liabilities and Equity       Cash $ 10,000   Accounts payable $ 19,500   Short-term investments   8,000   Accrued wages payable   3,400   Accounts receivable, net   33,600   Income taxes payable   2,900   Merchandise inventory   42,150   Long-term note payable, secured by mortgage on plant assets   66,400   Prepaid expenses   2,800   Common stock   83,000   Plant assets, net   147,300   Retained earnings   68,650   Total assets $ 243,850   Total liabilities and equity $ 243,850      Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)

CABOT CORPORATIONBalance SheetDecember 31 Assets       Liabilities and Equity       Cash $ 10,000   Accounts payable $ 19,500   Short-term investments   8,000   Accrued wages payable   3,400   Accounts receivable, net   33,600   Income taxes payable   2,900   Merchandise inventory   42,150   Long-term note payable, secured by mortgage on plant assets   66,400   Prepaid expenses   2,800   Common stock   83,000   Plant assets, net   147,300   Retained earnings   68,650   Total assets $ 243,850   Total liabilities and equity $ 243,850      Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)

CABOT CORPORATIONBalance SheetDecember 31 Assets       Liabilities and Equity       Cash $ 10,000   Accounts payable $ 19,500   Short-term investments   8,000   Accrued wages payable   3,400   Accounts receivable, net   33,600   Income taxes payable   2,900   Merchandise inventory   42,150   Long-term note payable, secured by mortgage on plant assets   66,400   Prepaid expenses   2,800   Common stock   83,000   Plant assets, net   147,300   Retained earnings   68,650   Total assets $ 243,850   Total liabilities and equity $ 243,850      Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)

Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))

The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (24%) CROSBY, INCORPORATED 2021 Income Statement Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory $31,335 69,745 $ 20,640 43,580 91,960 $747,000 582,000 18,000 FA $147,000 14,000 $ 133,000 31,920 $ 101,080 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Seved Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total $ 54,800 14,000 $ 68,800 MA000

Current Year Previous Year Current assets: Cash $532,000 $439,200 Marketable securities 616,000 494,100 Accounts and notes receivable (net) 252,000 164,700 Inventories 554,400 297,700 Prepaid expenses 285,600 190,300 Total current assets $2,240,000 $1,586,000 Current liabilities: Accounts and notes payable (short-term) $406,000 $427,000 Accrued liabilities 294,000 183,000 Total current liabilities $700,000 $610,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $ 2. Current ratio 3. Quick ratio

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)

Sh19

Privett Company Line Item Description Amount Accounts payable $27,815 Accounts receivable 70,978 Accrued liabilities 6,525 Cash 22,970 Intangible assets 43,640 Inventory 74,446 Long-term investments 100,209 Long-term liabilities 78,528 Marketable securities 34,768 Notes payable (short-term) 25,264 Prepaid expenses 2,065 Property, plant, and equipment 646,687 Based on the data for Privett Company, what is the amount of working capital? a. $205,227 b. $995,763 c. $128,716 d. $145,623