A company began the year with total liabilities of $145,000 and stockholders' equity of $35,000. During the year, the company had a net income of $275,000 and paid its shareholders $65,000. Total liabilities at the end of the year were $52,000. What is the total amount of assets at the end of the year?
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $34,000; Liabilities = ?; Common Stock = $6,400; Revenue = $13,800; Dividends = $1,450; Beginning Retained Earnings = $4,450; Ending Retained Earnings = $8,400.The amount of liabilities reported on the end-of-period balance sheet was:
- Cauce Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: Total assets $ 620,000 Total noncurrent assets 314,000 Liabilities: Notes payable (8%, due in 5 years) 24,000 Accounts payable 55,000 Income taxes payable 10,000 Liability for withholding taxes 1,000 Rent revenue collected in advance 9,000 Bonds payable (due in 15 years) 109,000 Wages payable 9,000 Property taxes payable 5,000 Note payable (10%, due in 6 months) 15,000 Interest payable 800 Common stock 180,000 Required: 1-a. What is the amount of current liabilities? 1-b. Compute working capital. 2. Would your computation be different if the company reported $350,000 worth of contingent liabilities in the notes to its financial statements?The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.Rosalind Company reported revenues of $111,500, expenses of $92,545, and net income of $18,955 for the year. Assets totaled $200,000 at the beginning of the year and $246,000 at the end of the year. The company's return on assets for the year (round the percent to one decimal) is:
- Assuming that total assets were $8,037,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity % % %Selected current year-end financial statements of Genesis Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. Compute the following: total asset turnover, return on total assets, and return on equity. Round to one decimal place.Benson Company’s net income was $225,000 for Year 1, $243,750 for Year 2, and $293,160 for Year 3. Assume trend percentages for net income over the three-year period are computed, with Year 1 serving as the base year.The trend percentage for Year 3’s net income is: Select one: A. 117.30% B. 86.36% C. 120.92% D. 130.29%
- At the end of last year, the company's assets totaled $877,000 and it's liabilities totaled $748,500.....The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $38,000; Liabilities = ?; Common Stock = $6,800; Revenue = $14,600; Dividends = $1,650; Beginning Retained Earnings = $4,650; Ending Retained Earnings = $8,800.The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%