Complete the 2006 Balance Sheet for O'Keefe Industries using the information that follows it.O'Keefe Industries Balance Sheet December 31, 2012AssetsLiabilities and Stockholders' EquityAccounts payableNotes payableCash$32,72025,000$120,000Marketable securitiesAccounts receivableАсcruals20,000InventoriesTotal current liabilitiesLong-term debtStockholders' equityTotal current assetsNet fixed assets$600,000Total assetsTotal liabilities and stockholders' equity $The following financial data for 2012 are also available:1. Sales totaled S$1,800,000.2. The gross profit margin was 25%.3. Inventory turnover was 6.0.4. There are 365 days in the year.5. The average collection period was 40 days.6. The current ratio was 1.60.7. The total asset turnover ratio was 1.20.8. The debt ratio was 60%.

Name: Complete the 2006 Balance Sheet for O'Keefe Industries using the info
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Complete the 2006 Balance Sheet for O'Keefe Industries using the information that follows it.O'Keefe Industries Balance Sheet December 31, 2012AssetsLiabilities and Stockholders' EquityAccounts payableNotes payableCash$32,72025,000$120,000Marketable

1. Average collection period = No. of working days * (Accounts receivable ÷ Sales) 40 = 360 *…

Business

Accounting

Accounts receivable Accruals 20,000 Inventories Total current liabilities Total current assets Long-term debt Stockholders' equity Total liabilities and stockholders' equity S Net fixed assets $600,000 Total assets

Accounts receivable Accruals 20,000 Inventories Total current liabilities Total current assets Long-term debt Stockholders' equity Total liabilities and stockholders' equity S Net fixed assets $600,000 Total assets

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

Balance Sheet Jack and Jill Corporation's year-end 2018 balance sheet lists current assets of $246,000, fixed assets of $796,000, current liabilities of $193,000, and long-term debt of $296,000. What is Jack and Jill's total stockholders' equity?
Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Blue Corporation Balance Sheets December 31 Net income 2025 $31,000 $21,000 51,000 95,000 60,000 500,000 $86,000 150,000 370,000 $737,000 $612,000 $81,000 325,000 176,000 $737,000 Blue Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 2024 46,000 100.000 2025 75,000 90,000 315,000 $745,000 41,000 704,000 430,000 2023 $19,000 49,000 126,000 114,000 $612,000 $545,000 69,000 2024 50,000 358,000 $545,000 $71,000 55,000 305,000 $605,000 31,000 574,000 355,000 219,000 151,000 274,000 181,000 $93,000 $68,000
Balance Sheet as of December 31, 2021 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for December 31, 2021 (Thousands of Dollars) Sales $36,000 Operating costs 34,000 Earnings before interest and taxes $ 2,000 Interest 160 Pre-tax earnings $ 1,840 Taxes (25%) 460 Net income $ 1,380 Dividends 552 Addition to retained earnings 2$ 828
Debt to Assets ratio? Current assets $22400 Net income $44500 Stockholders' Current liabilities 13400 66400 equity Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding was 17000. 21.7 percent 43.8 percent 32.9 percent 33.7 percent
Assets Cash $ 15,050 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable 8,260 13,400 11,100 165,500 (12,000) $201,310 $ 8,180 3,880 4,350 Common stock Retained earnings 21,480 113,900 49,520 $ 201,310 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,400. Required Compute each of the following: Note: Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45. a. Current ratio per share b. Earnings per share c. Quick (acid-test) ratio d. Return on investment + % % e. Return on equity f. Debt to equity ratio
View Policies Current Attempt in Progress Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $31500 Net income $41100 Stockholders' Current liabilities 15400 79400 equity Average assets 162500 Total liabilities 42300 Total assets 114000 Average common shares outstanding was 15500. 37 percent O 70 percent O 15 percent O 28 percent Attempts: 0 of 1 used Save for Later
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2021 (millions of dollars) Assets Liabilities and Equity Cash and equivalents $ 20 Accounts payable $ 140 Accounts receivable 475 Accruals 310 Inventories 890 Notes payable 225 Total current assets $ 1,385 Total current liabilities $ 675 Net plant and equipment 2,560 Long-term bonds 1,500 Total liabilities $ 2,175 Common stock (100 million shares) 270 Retained earnings $ 1,500 Common equity $ 1,770 Total assets $ 3,945 Total liabilities and equity $ 3,945 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 8,500 Operating costs excluding depreciation and amortization 5,650 EBITDA $ 2,850 Depreciation and amortization 500 EBIT $ 2,350 Interest 230 EBT $ 2,120…
Below are the 2018 and 2019 year-end balance sheets for Walker Inc.:. Assets Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities and equity Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total common equity Total liabilities and equity 2019 $200,000 864,000 2,000,000 $3,064,000 6,000,000 $9,064,000 $2,400,000 1,600,000 $3,000,000 2,400,000 2,000,000 664,000 $2,664,000 $9,064,000 2018 $170,000 700,000 1,400,000 $2,270,000 5,600,000 $7,870,000 $1,090,000 800,000 $1,890,000 2,400,000 3,000,000 580,000 $3,580,000 $7,870,000 Walker has never paid a dividend on its common share, and it issued $2,400,000 of 10-year non- callable, long-term debt in 2018. As of the end of 2019, none of the principal on this debt had been repaid. Assume that the company's sales in 2018 and 2019 were the same. Which of the following statements must be correct? O a. Walker issued new common shares in 2019. O b.…
The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (24%) CROSBY, INCORPORATED 2021 Income Statement Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory $31,335 69,745 $ 20,640 43,580 91,960 $747,000 582,000 18,000 FA $147,000 14,000 $ 133,000 31,920 $ 101,080 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Seved Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total $ 54,800 14,000 $ 68,800 MA000
Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200
Accounting Item Prior year Current year Accounts payable 8,191.00 7,813.00 Accounts receivable 6,005.00 6,798.00 Accruals 1,036.00 1,622.00 Cash ??? ??? Common Stock 10,961.00 12,712.00 COGS 12,797.00 18,122.00 Current portion long-term debt 4,914.00 5,086.00 Depreciation expense 2,500 2,842.00 Interest expense 733 417 Inventories 4,175.00 4,807.00 Long-term debt 13,319.00 14,034.00 Net fixed assets 51,854.00 54,984.00 Notes payable 4,372.00 9,863.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,779.00 29,650.00 Sales 35,119 47,875.00 Taxes 2,084 2,775 What is the firm's cash flow from operations,financing and investing?
The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $ 235,000 762,000 $997,000 $160,000 457,000 617,000 380,000 $997,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) ace Working capital Current ratio Debt to assets ratio