2. Calculate the carrying value per share of Heritage's investment as reflected in the investment account on January 4, 2025. (Round your answer to 2 decimal places.) Carrying value per share Equity $ 3. Calculate the change in Heritage's equity from January 2, 2023, through January 5, 2025, resulting from its Investment in Port. decreases 8.42 by S 144.800 27
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- Cash Accounts receivable (net) Other current assets 1. Investments Plant and equipment (net) Net sales 2. NOVAK CORPORATION Balance Sheets December 31 Current liabilities Long-term debt Common stock, $10 par Retained earnings Sales revenue Less: Sales returns and allowances Net income Additional information: 2022 $32,000 52,000 93,000 58,000 500,000 $735,000 148,000 Cost of goods sold Gross profit Operating expenses (including income taxes) 323,000 177,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 2021 $ 22,000 47,000 $87,000 $82,000 2022 98,000 370,000 $610,000 73,000 313,000 127,000 88,000 699,400 428,311 271,089 2021 $20,000 2020 $743,000 $603,000 43,600 115,000 $735,000 $610.000 $543,000 50,000 32,265 570,735 352,878 217,857 181,870 ▷ 151,764 $89,219 $66,093 67,000 48,000 358,000 $543,000 $72,000 53,000 303,000 The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All…Condensed balance sheet and income statement data for Oriole Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Oriole Corporation Balance Sheets December 31 2022 $ 30,100 49,800 89,600 55,100 500,100 $724,700 24 $84,500 145.700 381,000 113.500 $724,700 Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Oriole Corporation Income Statement For the Years Ended December 31 2022 $16,100 45,500 95,000 70,000 370,800 $597,400 $79,400 84,300 319,000 114,700 $597,400 2021 $744.500 39 200 705 300 424.700 280,600 188.911 $91.689 2021 $605,400 30,700 574.700 366.000 208.700 151 200 $57.470 2020 $18,300 47,900 63,000 46,000 358,600 $533,800 306,000 107,400 $533,800 $69,700 50,700 Additional information: The market price of Oriole's common stock was…The following information was available for the year ended December 31, 2022 Dividende per share Earnings per share Market price per share at year and 1.35 Required: a. Calculate the price/earrings ratio for 2022. Note: Round your answer to 2 decimal places. b. Calculate the dividend payout ratio for 2022 Note: Round your percentage answer to 2 decimal places (La, 9.1234 should be entered as c. Calculate the dividend yield for 2022. Note: Round your percentage answer to 2 decimal places (.a., 0.1234 should be entered as 12.34) Price/Eaming ratio b. Dividend payout ratio c. Dividend yield
- Q39. Balance Sheet had the following amounts as at 31st March, 2019: $ Current Assets 10% Preference Share Capital Equity Share Capital 5,00,000 15,00,000 Current Liabilities Securities Premium Reserve Reserve and Surplus 1,00,000 Investments (in other companies) 4,00,000 Fixed Assets -Cots 30,00,000 Depreciation Written off Long-term from IDBI @ 9% Calculate ratios indicating the long-term and the Short-term financial position of the company. $ 12,00,000 8,00,000 2,00,000 60,00,000 14,00,000Cash Accounts receivable (net) Other current assets December 31 Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings 2022 $ 29,100 50,000 90,100 54,500 500,500 $724,200 $85,000 144,900 342,000 152,300 $724,200 2021 $ 17,400 Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Lily Corporation Income Statements For the Years Ended December 31 2022 $737,000 $599,100 39,900 697,100 424,400 44,700 95,700 272,700 182,077 70,600 370,700 $599,100 $80,500 84,200 311,000 $ 90,623 123,400 $ 17,800 47,500 2021 2020 358,200 $531,000 63,500 44,000 $69,100 $605,400 31,000 299,000 574,400 370,500 113,400 $531,000 203,900 146,460 $ 57,440 49,500a. Define the equity method b. Use the following example to describe the equity method Presume that Company A bought 30% of Company B’s outstanding common stocks at $400,000 (cash) on 01/01/2020 During 2020, Company B earned net income of $200,000 and paid dividends of $40,000 Provide the journal entries for this equity investment in fiscal year 2020 What is the balance for this equity investment on 12/31/2020? Explain why the accounting numbers obtained using the equity method are misleading
- Highland Company provided the following information c 3. What is the total shareholders' equity after Problem 22-14 (IFRS) bAA9DL on December 31, 2020: Cash Trade and other receivables Property, plant and équipment - net Trade and other payables Share capital Revaluation surplus -Retained earnings 2,000,000 2,600,000 4,600,000 1,800,000 4,000,000 400,800 3,000,000 The general price index numbers are 112 on January 1, 2017 which is the date of incorporation, 125 on December 31, 2019 and 280 on December 31, 2020. The property, plant and equipment were acquired on January 1, 2017 but were revalued on December 31, 2019. 1. What amount should be reported as total assets in a hyperinflationary statement of financial position? a 14,904,000 b. 13,800,000 c. 10,800,000 d. 16,100,000 2. What is the balance of retained earnings after restatement? a 3,104,000 b. 3,000,000 c. 3,504,000 d. 3,400,000 restatement? 13,104,000 10,000,000 c. 13,504,000 d. 7,000,000 698The following financial information is for Cullumber Company. CULLUMBER COMPANY Balance Sheets December 31 Assets 2022 2021 Cash $ 70,000 $64,000 Debt investments (short-term) 53,000 39,000 Accounts receivable 108,000 90,000 Inventory 229,000 162,000 Prepaid expenses 30,000 25,000 Land 130,000 130,000 Building and equipment (net) 264,000 185,000 Total assets $884,000 $695,000 Liabilities and Stockholders' Equity Notes payable $172,000 $102,000 Accounts payable 65,000 51,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 250,000 172,000 Common stock, $10 par 202,000 202,000 Retained earnings 154,000 127,000 Total liabilities and stockholders' equity $884,000 $695,000 CULLUMBER COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $890,000 $786,000 Cost of goods sold 641,000 575,000 Gross profit 249,000 211,000 Operating expenses 194,000 159,000 $ 5000 $ 52,000 Net income Additional information: Inventory at the beginning of 2021 was $116,000. 1. 2.…10. The following information relates to the Smith Company for 2021: $ 1,600 Cash dividend declared for 2021 Retained earnings, January 1, 2021 Net income for 2021 4,680 1,920 Retained earnings, December 31, 2021 ? What was the December 31, 2021, balance of retained earnings? a. $4,360 b. $4,680 c. $5,000 d. $8,200 11. The method of valuation under the US GAAP is 1. accounts receivable at net realizable value. 2. short-term marketable securities at fair value. 3. inventories at current cost if current cost is higher than historical cost. a. b. C. d. 1 and 2 2 and 3 1 and 3 1, 2, and 3
- Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are as follows. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2022 $5,050.3 3,700.7 65.1 65.0 1,250.1 2,950.1 940.6 2021 $5,800.9 3,200.1 190.9 106.6 1,350.1 3,250.1 1,100.5If you are told that LSJ Company accounts payable at December 31, 2023 represents 15% of the company's total liabilities on their balance sheet…this would represent an example of what type of analysis: a. Vertical Analysis b. Horizontal Analysis c. Ratio AnalysisAssume Skyler Industries has debt of $4,386,000 with a cost of capital of 7.5% and equity of $5,814,000 with a cost of capital of 10.2%. What is Skyler’s weighted average cost of capital? Round your intermediate calculations and final answer to 3 decimal places. _____%