64.) Using Financial Statements for 2018-2019. Net book value for 2019 is $8,394,200.TRUE OR FALSE? Balance Sheet20192018Income Statement20192018AssetsSales$ 51,000,000 $ 47,000,000Cash$5,100,000 $4,900,000Operating Expenses:Marketable Securities102,00098,000Cost of Goods Sold5,100,0004,700,000Accounts Receivable1,632,0001,568,000Depreciation2,550,0002,350,000Inventories2,856,000$2,744,000Selling & Admn. Expenses6,120,0005,640,000Total Current Assets9,690,000 $9,310,000Total Operating Expenses$ 13,770,000 $ 12,690,000Property, Plant, & Equipment3,264,0003,136,000Operating Income37,230,00034,310,000Other Fixed Assets2,703,0002$2,597,000Other Income102,00094,000Total Fixed Assets5,967,000 $5,733,000Total Income$ 37,332,000 $ 34,404,000Total Assets$ 15,657,000 $ 15,043,000Interest Expense1,530,0001,410,000Liabilities & EquityAccounts PayableEarnings Before Tax35,802,00032,994,000$1,878,840 $1,805,160Provision for Income Tax8,160,0007,520,000Notes Payable1,722,2701,654,730$7,642,00$ 25,474,000Net IncomeAccrued Expenses Payable1,409,1301,353,8701,203,4406,017,200752,150Accrued Taxes Payable1,252,560$Total Current Liabilities6,262,800 $Long-Term Debt$782,850 $Total Liabilities7,045,650 $6,769,350Stockholder's Equity:Preferred Stock ($100 par, 6%)Common Stock ($5 par value)$1,095,990 $1,053,0102,035,4101,955,590Paid-In Capital in Excess of Par4,227,3904,061,610Retained EarningsTotal Stockholder's Equity1,252,560$1,203,4408,611,350 $$ 15,657,000 $ 15,043,0008,273,650Total Liabilities & Equity

Answered: 64.) Using Financial Statements for…

Business

Accounting

64.) Using Financial Statements for 2018-2019. Net book value for 2019 is $8,394,200. TRUE OR FALSE?

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

Do we add in notes payable due 2024 into our statement of cashflows when the balance sheet has dates 2021 and 2022?
BE14.10 (LO 3), AP Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2022 2021 $ 13,606 $7,669 23,045 19,951 31,087 31,345 12,522 11,909 $80,260 $ 70,874 $245,805 $326,203 Cash Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Compute the current ratio for each year. 2021 2022 Round to hundreds (.00)
What is net income ? 251+113 = 364 ??? İs true or not
Multiple Choice Sa O 84 times 2.06 times 1.87 times 82 times. 1.22 times
Please help me with the attached problem
2021 2020 2019 2018 2017 $ 394,032 199,466 19,071 $ 262,688 132,894 15,394 $ 205,225 $ 150,348 76,774 8,780 $ 112,200 56,100 Sales Cost of goods sold Accounts receivable 106,013 14,058 7,708 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: % 2019: % %3D 2018: % = 2017: % Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent %3D 2021: % 2020: % 2019: % %3D 2018: % = 2017: %3D Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Numerator: Denominator: Trend percent %3D 2021: % 2020: % %3D 2019: % = 2018: % 2017: % %3D Is the trend percent for Accounts Receivable favorable or unfavorable? II II IL || II
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
Am. 359.
Current Attempt in Progress Suppose McDonald's 2025 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities (a1) a. b. C. $3,330.0 Compute the following values. d. 30,230.0 3,000.0 15,719.6 Interest expense Income taxes Net income $480.0 1,938.0 4,542.0 Working capital. (Round to 1 decimal place in millions, e.g. 5,275.5.) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) $ millions :1 % times
2018 2019 2020 Income before depreciation, amortization, interest, and taxes $1,598 $2,832 $3,618 Interest expense 165 318 419 Cash 51 105 239 Current liabilities (does not include any debt) 547 799 1,192 Bank loan payable (all long-term) 1,800 4,270 4,200 Shareholders' equity 4,593 6,030 6,835 (a) Calculate the debt to equity, net debt as a percentage of total capitalization, and interest coverage ratios. (Round answers to 1 decimal place, e.g. 18.4 or 15.3%.) Net debt as a percentage of total capitalization Debt to equity ratio Interest coverage 2018 51.1 33.81 % 9.68 2019 84.1 45.67 8.9 2020 78.9 44.09 % 8.63
61. Using Financial Statements for 2018-2019. Net working capital for 2019 is $4,427,200. TRUE OR FALSE?
Could you please recalculate the gross profit for 2025, 2026, and 2027? 2025 amount of 228,000 is incorrect. 2026 amount of 186,920 is incorrect. 2027 amount of 142,080 is incorrect. Thank you.