A2Category3Sales4 Cost of Goods Sold15a. Calculate ROA for current values.16 Note: Round your answers to 2 decimal places.1718 SPM Outputs19Gross Profit20BCurrent Input Values$3,237,000.00$2,490,000.00$415,000.00$161,850.00$465,000.00$162,000.00$546,000.00$492,000.005 Variable Expenses6 Fixed Expenses7 Inventory8 Accounts Receivable9 Other Current Assets10Fixed Assets1112 Required:13 Note: Use cells A2 to C10 from the given information to complete this question.14Total Expenses21Net Profit22 Net Profit Margin23Current Assets24 Total Assets25 Asset turnover26 ROA (%)2728 b. Calculate ROA for new values.29 Note: Round your answers to 2 decimal places.3031 SPM Outputs32Gross Profit33 Total Expenses34 Net Profit35 Net Profit Margin36 Current Assets37 Total Assets38 Asset turnover39 ROA (%)404142CNew Input Values$3,560,700.00$2,490,000.00$383,875.00$161,850.00$395,250.00$162,000.00$546,000.00$492,000.00DEFTIGHIJKLMM

Gross profit is the amount of money earned by the entity after deducting the cost of goods sold from…

2 Category 3 Sales A 4 5 Variable Expenses 6 Fixed Expenses 7 Cost of Goods Sold Inventory Accounts Receivable 8 9 Other Current Assets 10 Fixed Assets 11 B Current Input Values $3,237,000.00 $2,490,000.00 $415,000.00 $161,850.00 $465,000.00 $162,000.00 $546,000.00 $492,000.00 15 a. Calculate ROA for current values. 16 Note: Round your answers to 2 decimal places. 17 18 SPM Outputs 19 Gross Profit 20 Total Expenses 21 Net Profit 22 Net Profit Margin 23 Current Assets 24 Total Assets 25 Asset turnover 26 ROA (%) 27 33 Total Expenses 34 Net Profit 35 Net Profit Margin 36 Current Assets 37 Total Assets 12 Required: 13 Note: Use cells A2 to C10 from the given information to complete this question. 14 28 b. Calculate ROA for new values. 29 Note: Round your answers to 2 decimal places. 30 31 SPM Outputs 32 Gross Profit 38 Asset turnover 39 ROA (%) 40 C New Input Values $3,560,700.00 $2,490,000.00 $383,875.00 $161,850.00 $395,250.00 $162,000.00 $546,000.00 $492,000.00 D E

2 Category 3 Sales A 4 5 Variable Expenses 6 Fixed Expenses 7 Cost of Goods Sold Inventory Accounts Receivable 8 9 Other Current Assets 10 Fixed Assets 11 B Current Input Values $3,237,000.00 $2,490,000.00 $415,000.00 $161,850.00 $465,000.00 $162,000.00 $546,000.00 $492,000.00 15 a. Calculate ROA for current values. 16 Note: Round your answers to 2 decimal places. 17 18 SPM Outputs 19 Gross Profit 20 Total Expenses 21 Net Profit 22 Net Profit Margin 23 Current Assets 24 Total Assets 25 Asset turnover 26 ROA (%) 27 33 Total Expenses 34 Net Profit 35 Net Profit Margin 36 Current Assets 37 Total Assets 12 Required: 13 Note: Use cells A2 to C10 from the given information to complete this question. 14 28 b. Calculate ROA for new values. 29 Note: Round your answers to 2 decimal places. 30 31 SPM Outputs 32 Gross Profit 38 Asset turnover 39 ROA (%) 40 C New Input Values $3,560,700.00 $2,490,000.00 $383,875.00 $161,850.00 $395,250.00 $162,000.00 $546,000.00 $492,000.00 D E

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

For 20Y2, Macklin Inc. reported a significant increase in net income. At the end of the year, Chris Jenkins, the president, is presented with the following condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $910,000 441,000 $469,000 $139,150 99,450 $238,600 $230,400 65,000 $295,400 65,000 $230,400 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue Income before income tax Income tax expense Net income 20Y1 $700,000 350,000 $350,000 $115,000 85,000 $200,000 $150,000 50,000 $200,000 50,000 $150,000 Required: Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. Use the minus sign to indicate a decrease in the "Difference".columns.
Total assets turnover: 1.1x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 3.75x Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. 1 Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $ $ $330,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 49,500 115,500 Check My Work (2 remaini
CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 297,150 151,450 98,600 5,000 47,850 19,276 $ 28,574 Cost of goods sold Gross profit Operating expenses Interest expense Profit before taxes Income tax expense Net profit Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Property, plant and equipment, net Total assets Req 1 and 2 Req 3 Req 4 CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity Req 5 8,000 Accounts payable 8,800 Accrued wages payable 32,400 Income taxes payable 2,750 Share capital 150,300 Retained earnings $ 238,400 Total liabilities and equity Complete this question by entering your answers in the tabs below. Compute the current ratio and acid-test ratio. 36,150 Long-term note payable, secured by mortgage on property, plant and equipment Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days'…
53 Category Sales Cost of goods sold As the operations manager for Valley Kayaks (as described in the previous problem), you find yourself faced with an interesting situation. Marketing has informed you that they have lost a number of sales because of a lack of inventory. Kayaks, being seasonal in nature, have to be in stock at your dealers if they are to be sold (customers are not willing to wait). The director of marketing proposes that you increase inventories by 20 percent (a major investment to you). She has also given the information in the following table. Use Figure 2.3. Variable expenses Fixed expenses Inventory Accounts receivable Other current assets Fixed assets Category Sales Cost of goods sold Variable expenses Fixed expenses Inventory Current Values $ 5,390,000 $ 3,850,000 770,000 269,500 315,000 350,000 741,000 444,000 $ $ Current Values $ 5,390,000 S 3.850,000 770.000 $ 269,500 315.000 $ Proposed Impact of Inventory Increase 20% + (improvement) 0% a.Using the…
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 Gross sales $ 23,800 $ 18,600 Sales returns and allowances 1,000 100 Net sales $ 22,800 $ 18,500 Cost of merchandise (goods) sold 10,800 7,200 Gross profit $ 12,000 $ 11,300 Operating expenses: Depreciation $ 1,180 $ 840 Selling and administrative 5,800 4,400 Research 1,030 740 Miscellaneous 840 540 Total operating expenses $ 8,850 $ 6,520 Income before interest and taxes $ 3,150 $ 4,780 Interest expense 1,040 740 Income before taxes $ 2,110 $ 4,040 Provision for taxes 844 1,616 Net income $ 1,266 $ 2,424 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $…
Question (8) While analyzing Winter Company's 20Y1 and 2012 financial statements, you note the following: [000s omitted) Sales Cost of goods sold Gross profit SG&A expenses Accounts receivable Inventory Accounts payable O $70,000 O $100,000 20Y1 $8,000 5,000 3,000 1,800 O $120,000 $ 600 800D 400 2012 $9,600 Approximately how much of the increase in Winter's accounts payable is due to a lengthening of Winter Company's accounts payable days on hand? O $57,000 6.500 3,100 2,000 $ 750 1,040 620
THE ATHLETIC ATTICIncome StatementFor the Year Ended December 31, 2024Net sales $8,900,000Cost of goods sold 5,450,000Gross profit 3,450,000Expenses: Operating expenses $1,600,000 Depreciation expense 210,000 Interest expense 50,000 Income tax expense 360,000 Total expenses 2,220,000Net income $1,230,000 THE ATHLETIC ATTICBalance SheetsDecember 31 2024 2023Assets Current assets: Cash $164,000 Accounts receivable 790,000 Inventory 1,405,000 Supplies 110,000Long-term assets: Equipment 1,150,000 Less: Accumulated depreciation (420,000) Total assets $3,199,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $115,000 Interest payable 0 Income tax payable 40,000 Long-term liabilities: Notes payable 600,000 Stockholders' equity: Common stock 700,000…
GE MINDTAP omework 5065600. 6500550 36055055 f6 Complete the balance sheet and sales information using the following financial data: 6 Total assets turnover: 1.1x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales Q Search 80000 eBook f7 & 7 f8 * 4+ 8 $ $240,000 fg @MO hp IAA 9 ISBN 9780357517642&nbld-3626933&snap... ✰ f10 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold ▶II O 99+ f11 O f12 S $ B + g ins 60,000 84,000 prt sc @ 0 delete Q Check My Wo backspace Check hor
Review the following: Data Table Cost of Goods Sold $101 Gross Sales 181 Sales Returns and Allowances 16 Sales Discounts 21 Operating Expenses 47 From the information provided, calculate: a. Gross profit b. Net income or net loss Calculate (a) Gross profit. - = Gross profit - = Calculate (b) Net income or net loss. (Use parentheses or a minus sign to show a net loss.) - = Net income or net loss - =
Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Gross profit 2022 Selling expenses $754,000 465,218 122,148 61,828 33,176 71,630 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) BRAMBLE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Amount $754,000 465,218 288,782 2021 122.148 $605,000 392,645 69,575 54,450 21,780 66,550 Percent 100 % 65 % Amount % $605,000 392,645 % 212,355.0 69,575 2021 Percent 100 % % % %
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 8,500 200 6,000
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 285,468 2819 $363, 276 228,864 188, 732 134,412 67,336 50, 132 42,678 31, 968 119,014 82, 198 78, 718 52,312 14,642 19,724 $ 64,976 $ 41,588 S Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Common-Size Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 100.00 % 2019 100.00 % Assets Current assets Long-term investments Plant assets,…