Please do not give solution in image format thanku Account TitlesCashAccounts receivableOffice supplies inventoryAutomobiles (company cars)Accumulated depreciation, automobilesOffice equipmentAccumulated depreciation, office equipmentAccounts payableIncome taxes payableSalaries and commissions payableNote payable, long-termCapital stock (par $1; 32,300 shares)Paid-in capitalRetained earnings (on April 1, 2018)Dividends declared and paid during the current yearSales revenueCost of goods soldOperating expenses (detail omitted to conserve time)Depreciation expense (on autos and including $700 on office equipment)Interest expenseIncome tax expense (not yet computed)TotalsRequired:Complete the financial statements as follows:Operating expenses:JORDAN SALES COMPANYTrial BalanceAt March 31, 2019JORDAN SALES COMPANYEarnings per shareIncome StatementTotal operating expensesDebit$58,500049,2001,30034,5003,70011,20032,10018,4007,9001,400a. Classified (multiple-step) income statement for the reporting year ended March 31, 2019. Include income tax expense, assuming a 40percent tax rate. (Round your "Earnings per share" to 2 decimal places.)$218,200Credit$ 13,8001,40022,00081,30032,00032,3004,3006,800104,300.$218,200

The Income Statement of Jordan Sales Company will be prepared based on the Globally recognised…

a. Classified (multiple-step) income statement for the reporting year ended March 31, 2019. Include income tax expense, assuming a 40 percent tax rate. (Round your "Earnings per share" to 2 decimal places.)

a. Classified (multiple-step) income statement for the reporting year ended March 31, 2019. Include income tax expense, assuming a 40 percent tax rate. (Round your "Earnings per share" to 2 decimal places.)

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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Finding operating and free cash flows Consider the balance sheets and selected data from the income statement of Keith Corporation that follow a. Calculate the firm's net operating profit after taxes (NOPAT) for this year. b. Calculate the firm's operating cash flow (OCF) for the year. c. Calculate the firm's free cash flow (FCF) for the year. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). a. The net operating profit after taxes is $ (Round to the nearest dollar.)
Assets Cash S.T. Investments Accts Receivable Inventories Total Current Assets Net PP&E Total Assets Liabilities. Accts Payable Notes Payable Accruals Balance Sheet Current Liabilities L.T. Bonds Preferred Stock Common Stock Retained Earnings Total Equity Total Liab. & Equity Less: Interest 2021 120 30 400 Pre-tax Earnings 1,200 1,750 3,000 4,750 100 100 300 500 520 200 530 3,000 3,530 4,750 Net Sales COGS except Dep Depreciation & Amortization Other Operating Expenses EBIT Income Statements 2021 5,500 3,800 180 600 920 60 860 215 Taxes (25%) Preferred Dividends 15 Net Income for CS Holders 630 2020 $102 40 384 774 1. What is the company's MVA? 2. What is the company's EVA in? 3. What is the current ratio of the Company? 1,300 1,780 3,080 180 28 370 578 350 100 500 1,552 2,052 3,080 Number of Common Stock Outstanding = 1,200 Price of Common Stock = 4.00 WACC Cost of Capital = 12.0% Return on Investment (ROI)= 15.97% 2020 4,800 3,710 180 470 440 40 400 100 7 293
Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…
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