How much was the 2014 net income? A company reported the following asset and liabilitybalances at the end of 2013 and 2014:20132014Total Assets$7,500,000 $8,200,000Total Liabilities 4,300,000 4,500,000During 2014, cash dividends of $50,000 were declaredand paid, and common stock was issued for $100,000.How much was the 2014 net income?

To calculate the 2014 net income, we use the accounting equation and changes in retained earnings.…

Answered: A company reported the following asset…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 23MCQ

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The 2017 annual report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 0000 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Instructions Compute the following ratios for Tootsie Roll for 2017. a. Asset turnover. b. Return on assets. c. Profit margin on sales. d. How can the asset turnover be used to compute the return on assets?
The comparative current liabilities balances for December 31, end of the year, for a company are provided below. 2016 2015 Current liabilities $180,000 $150,000 Based on this information, what is the percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis? Group of answer choices (20.0%) 2.0% 20.0%
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Selected information from the comparative financial statements of Barcelona Company for the year ended December 31 appears below: 2017 2016 Accounts receivable (net) $200,000 175,000 Inventory 170,000 130,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 300,000 410,000 Net credit sales 900,000 700,000 Cost of goods sold 530,000 600,000 Interest expense 40,000 25,000 Income tax expense 60,000 29,000 Net income 120,000 85,000 Net cash provided by operating activities 250,000 135,000 Instructions Answer the following questions relating to the year ended December 31, 2017. Show computations. 1. The inventory turnover for 2017 is 2. The number of times interest earned in 2017 is 3. The accounts receivable turnover for 2017 is 4. The return on assets for 2017 is
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Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below: Pat Metheny Comparative Balance Sheet As of December 31, 2014 and 2013 2014 2013 Cash 1,800 1,100Receivables 1,750 1,300Inventory 1,600 1,900Plant assets…
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The 2017 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Compute the following ratios for Tootsie Roll for 2017. (a) Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.) enter the asset turnover rounded to 4 decimal places times (b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.) enter the return on assets in percentages rounded to 2 decimal places % (c) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.) enter the profit margin on sales in percentages rounded to 3 decimal places %
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Need to calculate for "THE YEAR" *2013* this ratio: •current ratio •quick ratio •cash ratio •total debt ratio •times interested ratio •fixed assets turnover ratio •inventory turnover •net profit margin •return on total assets •return on stockholders equity balance sheet 2013 assets cash 44,494,000 short term investment 4,531,000 net receivable 12,948,000 inventory ------- other current assets 1,310,000 ______________________________________ total current assets 23,283,00 long term investment 4,971,000 PPE 2,760,000 Goodwill 9,267,000 intangible assets 941,000 Accumulated amortization ------------ other assets 266,000 deferred long term assets charge ------- __________________________ total assets 41,488,000 liabilities current liabilities accounts payable 3,215,000 short/current long term debt 9,266,000 other current liabilities 158,000 ________________- total current liabilities 12,639,000 Long term debt 4,117,000 other liabilities 244,000 deferred long term liability charge 841,000…
Determine Profit Margin,Asset Turnover,Earnings Per Share,Price-Earning Ratios, Pay out ratio and Debt to asset ratio for 2016 and 2017 and explain briefly whether or not the company experiences improvement in the financial positon and operating for the period from 2016 to 2017.

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