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- Reynoso Manufacturing has a current ratio of 1.42:1 and current assets of $643 million. What are their current liabilities? O $913.1 million $381.4 million O $643 million O $452.8 millionQuestion: The ABC Company has forecast a sales growth rate of . Percent (see appendix) for next year. The current financial statements are shown here: Income Statement sales growth rate 14.5% Amount (Tk.) 26,000 21,000 5,000 1,350 3,650 Sales Costs Taxable Income -Taxes Net Income 1,095 2,555 Dividends Addition to Retained EarningsComputing Earnings per Share The income statement, statement of retained earnings, and balance sheet for Jeanette Company are as follows: Jeanette CompanyIncome StatementFor the Year Ended December 31, 20X2 Amount Percent Net sales $8,281,989 100.0% Less: Cost of goods sold (5,383,293) 65.0 Gross margin $2,898,696 35.0 Less: Operating expenses (1,323,368) 16.0 Operating income $1,575,328 19.0 Less: Interest expense (50,000) 0.6 Income before taxes $1,525,328 18.4 Less: Income taxes (40%)* (610,131) 7.4 Net income $915,197 11.0 * Includes both state and federal taxes. Jeanette CompanyStatement of Retained EarningsFor the Year Ended December 31, 20X2 Balance, beginning of period $1,979,155 Net income 915,197 Total $2,894,352 Preferred dividends (80,000) Dividends to common stockholders (201,887) Balance, end of period $2,612,465 Jeanette CompanyComparative Balance SheetsAt December 31,…
- Given the following information for the Green Company:Net sales (all on account) $5,200,000Interest expense 240,000Income tax expense 280,000Net income 420,000Income tax rate 40%Total assets: January 1, 2010 $1,800,000 December 31, 2010 2,400,000Stockholders' equity: January 1, 2010 1,500,000 December 31, 2010 1,600,000Current assets, December 31, 2010 700,000Quick assets, December 31, 2010 400,000Current liabilities, December 31, 2010 300,000Net accounts receivable: January 1, 2010 200,000 December 31, 2010 180,000 Green's accounts receivable turnover for 2010 was: Question 16 options: a) 2.2 times…Vertical Analysis of Income StatementFor 20Y2, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure of an additional $40,000 for advertising. At the end of theyear, Leif Grando, the president, is presented with the following condensed comparative income statement:3. PR.14-05BFielder Industries Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Sales $1,300,000 $1,180,000Cost of goods sold 682,500 613,600Gross profit $617,500 $566,400Selling expenses $260,000 $188,800Administrative expenses 169,000 177,000Total operating expenses $429,000 $365,800Income from operations $188,500 $200,600Other income 78,000 70,800Income before income tax $266,500 $271,400Income tax expense 117,000 106,200Net income $149,500 $165,200Required:1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round toone decimal place. Enter all amounts…Selected information for 5 companies is reproduced below: a) Calculate the net profit ratio for each of the companies below. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) Zcom Inc. X-cell Inc. Velor Inc. Allarco Inc. Gulf Corp. $93,000 $67,000 $75,000 $17,000 $15,000 Net Income. Net Sales Net profit Ratio 164,000 188,000 96,000 54,000 123,000 b) Which of the companies is the most profitable according to the net profit ratio? c) Which of the companies generates the least profit as a percentage of sales?
- fSegment Revenue Vertical Analysis Newton Corporation is one of the world's largest entertainment companies that includes Gravity films, Apple Broadcasting, Gravity News, the GR, and various satellite properties. The company provided revenue disclosures by its major product segments in the notes to its financial statements as follows: a. Using the revenue disclosures by major product segment listed below, provide a vertical analysis of the product segment revenues. Round all percents to one decimal place. For a Recent Year Major Product Segments (in millions) Percent (%) Cable Network Programming $23,925 Television 8,338 Filmed Entertainment 5,154 Direct Broadcast Satellite Television 4,483 Total revenues of major segments $41,900 %Vertical analysis The following income statement data for AT&T Inc. and Verizon Communications Inc. were taken from their recent annual reports (in millions): AT&T Verizon Revenues $132,447 $127,079 Cost of services (expense) 60,611 49,931 Selling and marketing expense 39,697 41,016 Depreciation and other expenses 20,393 16,533 Operating income $ 11,746 $ 19,599 Required: a. Prepare a vertical analysis of the income statement for AT&T. Round to one decimal place. AT&T Income Statement Amount Percent Revenues Cost of services (expense) Selling and marketing expense Depreciation and other expenses Operating income b. Prepare a vertical analysis of the income statement for Verizon. Round to one decimal place. Verizon Income Statement Amount Percent Revenues Cost of services (expense) Selling and marketing expense Depreciation and other expenses Operating…
- Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $982,500 Liabilities: Current liabilities $131,000 Note payable, 6%, due in 15 years 655,000 Total liabilities $786,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $471,600 Common stock, $10 par (no change during year) 471,600 Retained earnings: Balance, beginning of year $504,000 Net income 254,000 $758,000 Preferred dividends $9,432 Common dividends 119,768 129,200 Balance, end of year 628,800 Total stockholders' equity $1,572,000 Sales $11,035,200 Interest expense $39,300 Assuming that total assets were $2,240,000 at the beginning of the current fiscal year, determine the…Mm. 130.VERTICAL ANALYSIS Give the analysis per line item. Sabina Electronics Comparative Income Statement This year Last year This year 5,000,000 3,875,000 1,125,000 653,000 472,000 72,000 400,000 120,000 280,000 110,000 Last year 4,350,000 3,450,000 900,000 548,000 352,000 72,000 280,000 84,000 196,000 95,000 Sales 100% 100% Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes 78% 79% 23% 21% 13% 13% 9% 8% 1% 2% 6% 2% 5% 2% 8% Income taxes (30%) Net income 2% 6% Common dividends 2% 101,000 579,000 680,000 Net income retained 170,000 3% 2% Beginning retained earnings Ending retained earnings 680,000 850,000