3-7. (Working with an income statement and balance sheet) Prepare a balance sheet and a. Prepare a common-sized income statement and a common-sized balance income statement for Kronlokken Company from the following scrambled list of PART I. The Scope and Environment of Financial Management 3-9. (Work a statemer a. Prepare a common-sized income statement and a common-sized bal sheet. Interpret your findings. income statement for Kronlokken Company from the following scrambled and Increase in a Ancrease in a $66,000 Depreciation expense. Operating in 225,000 Cash Interest exp 334,000 Long-term debt Increase in 573,000 Sales Dividends 102,000 Accounts payable Increase in 79,000 General and administrative expense Increase in Buildings and equipment 895,000 Depreciatie 75,000 Notes payable Income tax Accounts receivable 153,000 Beginning Interest expense 4,750 Accrued expenses 7,900 3-10. (A 289,000 ing Wes Common stock Cost of goods sold 297,000 Net incom Inventory 99,300 Deprecia Taxes Profits be 50,500 Accumulated depreciation 263,000 Increase Prepaid expenses Increase 14,500 Taxes payable Increase 53,000 Retained earnings Increase 262,900 Cash flo 3-8. (Working with an income statement and balance sheet) Prepare an income statement and a balance sheet for Lippo Group from the following scrambled list of items. What is the firm's net working capital and debt ratio? Sales Investm Change Financi Increas $553,000 Accumulated depreciation Comme 192,000 Cash Tota Cost of goods sold Chang 325,000 Accounts receivable Begins 74,000 Depreciation expenses Ending 40,000 Accounts payable 66,000 3-11. Interest expense 24.000 a stat Short-term notes payable 30,000 Begim Income taxes 59,850 Divid Inventories 46,000 Marketing, general and administrative expenses Incre 47,000 Gross fixed assets Incre 650,000 Long-term debt Incre 365,000 Common stock 125.000 Oper Other assets 17,000 Incre Retained earnings 138,500 Inter In addition, the firm has 12.000 shares outstanding and paid $18,000 in common stock dividends during the vaa Dep Incr Incr Ince Ince

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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PART I. The Scope and Environment of Financial Management
3-9. (Work
a. Prepare a common-sized income statement and a common-sized bal
sheet. Interpret your findings.
income statement for Kronlokken Company from the following scrambled and
a statemer
Increase in a
Ancrease in a
$66,000
225,000
Depreciation expense.
Operating in
Cash
Interest exp
334,000
Increase in
Long-term debt
573,000
Sales
Dividends
102,000
Accounts payable
Increase in
79,000
General and administrative expense
Increase in
895,000
Buildings and equipment
Depreciatie
75,000
Notes payable
Income tax
Accounts receivable
153,000
Beginning
Interest expense
4,750
Accrued expenses
7,900
3-10. (A
289,000
ing Wes
Common stock
Cost of goods sold
297,000
Net incom
Inventory
99,300
Deprecia
Taxes
Profits be
50,500
Accumulated depreciation
263,000
Increase
Prepaid expenses
14,500
Increase
Increase
Taxes payable
Retained earnings
53,000
Increase
262,900
Cash flo
3-8. (Working with an income statement and balance sheet) Prepare an income statement
and a balance sheet for Lippo Group from the following scrambled list of items. What
is the firm's net working capital and debt ratio?
Sales
Investm
Change
Financi
$553,000
Increas
Accumulated depreciation
Comma
192,000
Cash
Tota
Cost of goods sold
Chang
325,000
Accounts receivable
Begins
74,000
Depreciation expenses
Ending
40,000
Accounts payable
66,000
3-11.
Interest expense
24.000
a stat
Short-term notes payable
30,000
Begim
Income taxes
59,850
Divid
Inventories
46,000
Marketing, general and administrative expenses
Incre
47,000
Gross fixed assets
Incre
650,000
Long-term debt
Incre
365,000
Common stock
125.000
Oper
Other assets
17,000
Incre
Retained earnings
138,500
Inter
In addition, the firm has 12.000 shares outstanding and paid $18,000 in common stock dividends during the vea
Dep
Incr
Incr
Ince
Ince
Transcribed Image Text:PART I. The Scope and Environment of Financial Management 3-9. (Work a. Prepare a common-sized income statement and a common-sized bal sheet. Interpret your findings. income statement for Kronlokken Company from the following scrambled and a statemer Increase in a Ancrease in a $66,000 225,000 Depreciation expense. Operating in Cash Interest exp 334,000 Increase in Long-term debt 573,000 Sales Dividends 102,000 Accounts payable Increase in 79,000 General and administrative expense Increase in 895,000 Buildings and equipment Depreciatie 75,000 Notes payable Income tax Accounts receivable 153,000 Beginning Interest expense 4,750 Accrued expenses 7,900 3-10. (A 289,000 ing Wes Common stock Cost of goods sold 297,000 Net incom Inventory 99,300 Deprecia Taxes Profits be 50,500 Accumulated depreciation 263,000 Increase Prepaid expenses 14,500 Increase Increase Taxes payable Retained earnings 53,000 Increase 262,900 Cash flo 3-8. (Working with an income statement and balance sheet) Prepare an income statement and a balance sheet for Lippo Group from the following scrambled list of items. What is the firm's net working capital and debt ratio? Sales Investm Change Financi $553,000 Increas Accumulated depreciation Comma 192,000 Cash Tota Cost of goods sold Chang 325,000 Accounts receivable Begins 74,000 Depreciation expenses Ending 40,000 Accounts payable 66,000 3-11. Interest expense 24.000 a stat Short-term notes payable 30,000 Begim Income taxes 59,850 Divid Inventories 46,000 Marketing, general and administrative expenses Incre 47,000 Gross fixed assets Incre 650,000 Long-term debt Incre 365,000 Common stock 125.000 Oper Other assets 17,000 Incre Retained earnings 138,500 Inter In addition, the firm has 12.000 shares outstanding and paid $18,000 in common stock dividends during the vea Dep Incr Incr Ince Ince
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