1001.08.11Douglass Enterprises IncomeStatement for the Present YearSalesCostsTaxable incomeTaxesNet IncomeDividendsAddition to ret earningsDouglass EnterprisesBalance Sheet forthe Present YearCashAccounts recInventoryCurrent assetsFixed assetsTotal assets$1,010 Accounts payable$302 Notes payable$361 Current liabilities$1673 Long term debt$5,200 Common stockRetained earnings$6,87 Total abities &equity$4,840$4,120$720$245$475$190$285$536$1,500$2,036$1.200$3,000$637$6.873Assets, accounts payable and costs are proportional to sales. Debt and equity are notThe sales of Douglass Enterprises are expected to increase by 9% next year. The debt-equity ratio and the dividend payout ratio are to be held constantCurrently the firm is producing at 82% of capacity What is the addition to retained earnings? Multiple ChoiceOOOO$518$385$311$475$437

The income statement is a presentation of the organization's performance during the specified…

10 010811 Douglass Enterprises Income Statement for the Present Year Sales Costs Taxable income Taxes Net Income Dividends Addition to ret earnings Douglass Enterprises Balance Sheet for the Present Year Cash Accounts rec Inventory Current assets ed assets Total assets $1010 Accounts payable Notes payable Current abbes $1672 Long term debt $5.200 Common stock Retained earnings $6.87 Total sabates & equity $302 $361 $4,840 $4,120 $720 $245 $475 $190 $285 $5.30 $1,500 $2.03 $1.200 $3,000 $637 $6.873 Assets, accounts payable and costs are proportional to sales Debt and equity are not The sales of Douglass Enterprises are expected to increase by 9% next year. The debt-equity ratio and the dividend payout ratio are to be held constant Currently the firm is producing at 82% of capacity What is the addition to retained earnings?

10 010811 Douglass Enterprises Income Statement for the Present Year Sales Costs Taxable income Taxes Net Income Dividends Addition to ret earnings Douglass Enterprises Balance Sheet for the Present Year Cash Accounts rec Inventory Current assets ed assets Total assets $1010 Accounts payable Notes payable Current abbes $1672 Long term debt $5.200 Common stock Retained earnings $6.87 Total sabates & equity $302 $361 $4,840 $4,120 $720 $245 $475 $190 $285 $5.30 $1,500 $2.03 $1.200 $3,000 $637 $6.873 Assets, accounts payable and costs are proportional to sales Debt and equity are not The sales of Douglass Enterprises are expected to increase by 9% next year. The debt-equity ratio and the dividend payout ratio are to be held constant Currently the firm is producing at 82% of capacity What is the addition to retained earnings?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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vas.msst Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income Other data: Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price $98,000 91.140 1,960 $4,900 960 $3,940 1,576 $2,364 500.00 $827.40 6% 40% $56.74 Refer to Exhibit 4.1. What is the firm's ROA? Do not round your intermediate calculations,
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Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
CShsiger-ne tolowing income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Staternent Sales $48,800 34,800 Costs Taxable income Taxes (22%) Net income $14,000 3,080 $10,920 Dividends Addition to retained earnings 8,403 $ 2,517 The balance sheet for the Heir Jordan Corporation follows HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Cash Accounts receivable Current liabilities 2,650 Accounts payable $ 2,400 3,600 Notes payable 5,300 $ 7,700 24,000 Common stock and paid-in surplus 18,000 Inventory 9,000 Total Total s 15,250 Long-term debt Owners' equity Fixed assets Net plant and equipment 38,400 Retained earnings 3,950 $ 21,950 53,650 Total liabilities and owners' equity 53,50 Total Total assets Prepare a pro forma balance sheet assuming an increase in sales of 12 percent, no new external debt and a constant payout ratio (Do not round intermediate calculations and round you answers to 2 decimal places, e.g., 32.16.)
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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
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