anges in current operating assets and liabilities-indirect method ovington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 2012 Dec. 31, 20Y1 Accounts receivable $25,400 $24,400 Enventory 59,400 60,100 Accounts payable 17,100 15,600 Dividends payable 19,000 18,000 Adjust net income of $80,500 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
Q: Current Position Analysis The following data were taken from the balance sheet of Albertini Company…
A: Accounting ratio is the comparison of two or more financial data which are used for analyzing the…
Q: Changes in current operating assets and liabilities-indirect method Covington Corporation's…
A: Cash flow statement :— It is one of the financial statements that shows change in cash and cash…
Q: Return on Total Assets A company reports the following income statement and balance sheet…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio.…
A: Working Capital=Current Assets-Current Liabilities Current Ratio=Current Assets/Current Liabilities…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: The liquidity ratios include current ratio, quick ratios and working capital. The current ratio is…
Q: Exercise in Calculating Activity Ratios United Instruments, Inc. Selected Financial Statement…
A: By analyzing financial records such as the financial statement, ratio analysis is a quantitative…
Q: A company reports the following income statement and balance sheet information for current year: Net…
A: Return on total assets: It is the ratio between the earnings of the company and the total assets.…
Q: Use the common-size financial statements found here: ommon-Size Balance Sheet 2016 Cash and…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair…
A: Financial Statement -
Q: Return on Total Assets A company reports the following income statement and balance sheet…
A: Return on total assets shows the firm's ability to use the total assets to generate expected…
Q: A company reports the following income statement and balance sheet information for the current year:…
A: Formula: Return on total Assets = Net Income / Average total Assets Division of Net income with…
Q: Using the information below calculate the ROC of the company Years Revenue ($M) Net…
A: Return on capital is a measure of profitability. It also used in valuation. In simple words ROC…
Q: Prepare the Operating Activities section of the statement of cash flows using the indirect method.…
A: Under Indirect method, the cash flow statement has three parts namely Cash flows from Operating…
Q: Cash Accounts receivable (net) Inventories Total current assets Noncurrent assets Current…
A: Financial Ratios: The relationship between two financial matters or items that reflect the solvency,…
Q: A company reports the following income statement and balance sheet information for the current year:…
A: Return on Total Assets= Earnings Before Interest and Tax/ Average Total Assets
Q: Required information [The following information applies to the questions displayed below.] Simon…
A: The debt-to-equity ratio is a financial metric that compares a company's total debt to its total…
Q: Changes in current operating assets and liabilities-indirect method Covington Corporation's…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Return on total assets A company reports the following income statement and balance sheet…
A: Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity, capabilities,…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: Current and quick ratios are the measures computed to determine the liquidity position of the…
Q: Crane Company has these comparative balance sheet data: CRANE COMPANY Balance Sheets December 31…
A: Hey, since there are multiple requirements posted, we will answer the first three requirements. If…
Q: [The following information applies to the questions displayed below.] Simon Company's year-end…
A: Common size balance sheets have the benefit of enabling rapid comparisons between line items and…
Q: Determine for each year 1 capital, 2 the current ratio, and 3 the quick ratio. Round ratio to one…
A: Current Ratio: This ratio represents the liquidity ratio measuring the capability of the firm to pay…
Q: Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis.…
A: The vertical analysis for balance sheet is prepared as percentage of different accounts values on…
Q: Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable…
A: "Since you posted a question with multiple sub-parts, we will solve first three sub-parts for you.…
Q: Return on Total Assets A company reports the following income statement and balance sheet…
A: The question is based on the concept of Financial Ratios. Return on total assets is calculated by…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: The ratio analysis is performed by the companies to compare the financial statements of the business…
Q: Current Position Analysis The following data were taken from the balance sheet of Albertini Company…
A: Working capital is an indicator of short term financial position of an entity. It is determined as…
Q: The following data were taken from the balance sheet of Albertini Company at the end of two recent…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Sales revenue Less: Cost of goods sold Operating expenses, excluding depreciation Depreciation…
A: A cash flow statement indicates cash inflow and cash outflow information for a particular time…
Q: Return on total assets A company reports the following income statement and balance sheet…
A: Calculation of return on assets.
Q: 1-a) Compute days' sales uncollected. 1-b) For each ratio, determine if it improved or worsened in…
A: Days sales uncollected is the ratio which shows thr average number of days the receivables remains…
Q: Accounts receivable Merchandise inventory Accounts payable Dividends payable Dec. 31, Year 2 $7,639…
A: Net income. $48103 Less: Decrease in AP $1067 Less: increase in AR $3605 Less:…
Q: The following data are available for XYZ Corporation for years 2014 and 2013. XYZ Corporation…
A: We are provided with the financial data of the two years of XYZ corporation. Wherein we need to…
Q: The following data were taken from the balance sheet of Albertini Company at the end of two recent…
A: Working capital = Total current assets - Total current liabilities Current ratio = Total current…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Fiscal Year Ended Make-ThemCorporation Consolidated Balance Sheet (in thousands except share data) Dec. 31, 2008 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Long-term debt $ LIABILITIES AND SHAREHOLDERS' EQUITY Total current liabilities Total liabilities Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ Assume the following information for both years: Net Profit Margin (NPM) was 4%. Interest rate on Long-term Debt 10% $ 369 58 489 107 43 1,066 5,137 1,168 7,371 429 104 132 89 754 2,630…A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,180 $1,836Accounts receivable, net 3,600 3,180Inventories 2,738 3,019Other current assets 1,932 1,590Total current assets $11,450 $9,625Current liabilities $4,830 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million Link to Text
- Vertical Analysis of Balance Sheet Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below. Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings Current assets 20Y2 Assets 266,240 457,600 108,160 183,040 324,480 91,520 232,960 20Y1 $266,240 162,240 % 418,080 43,680 106,080 Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. 249,600 87,360 180,960 Hanes Company Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent $162,240 %Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,200 $1,845Accounts receivable, net 3,450 3,180Inventories 2,639 3,042Other current assets 1,872 1,549Total current assets $11,161 $9,616Current liabilities $4,853 $5,893 (a)Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million (b)The parts of this question must be completed in order. This part will be available when you complete the part above.The comparative statements of financial position of Amman Inc. at the beginning and the end of the year 2020 appear as follows: Total Equipment Less: Accumulated Depreciation-Equip. Accounts receivable Cash Assets Note: Share capital-ordinary Retained earnings Accounts payable Total STATEMENT Equity and Liabilities Instructions: AMMAN INC. OF FINANCIAL POSITION Jan.1, 2020 Dec. 31, 2020 $39.000 (17,000) 91,000 45,000 $158,000 $100,000 38,000 20,000 $158,000 $22,000 (11,000) 88,000 13,000 $112,000 Prepare a statement of cash flows for the year 2020. $80,000 17,000 15,000 $112,000 Increase / Decease $17,000 Inc. 6,000 Inc. 3,000 Inc. 32,000 Inc. Net income of $ 34,000 was reported, and dividends of $ 13,000 were paid in 2020. New equipment was purchased, and none was sold. 20,000 Inc. 21,000 Inc. 5,000 Inc.
- This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780Crane Company has these comparative balance sheet data: CRANE COMPANYBalance SheetsDecember 31 2022 2021 Cash $ 27,105 $ 54,210 Accounts receivable (net) 126,490 108,420 Inventory 108,420 90,350 Plant assets (net) 361,400 325,260 $623,415 $578,240 Accounts payable $ 90,350 $ 108,420 Mortgage payable (15%) 180,700 180,700 Common stock, $10 par 252,980 216,840 Retained earnings 99,385 72,280 $623,415 $578,240 Additional information for 2022: 1. Net income was $27,900. 2. Sales on account were $382,300. Sales returns and allowances amounted to $29,000. 3. Cost of goods sold was $207,500. 4. Net cash provided by operating activities was $57,000. 5. Capital expenditures were $28,900, and cash dividends were $17,900. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…Data extracts from Gamma's accounts are shown below Turnover Gross Profit Expenses Operating Profit Interest and Tax Profit for Year Non-current assets Inventory Receivables Cash at Bank Payables Other Current Liabilities Net current assets Shareholder funds 10% Debenture (2030) Required: Ye-Dec-20 Ye-Dec-19 18,500 16,000 4,500 4,000 1,500 2,400 3,000 1,600 1,100 700 1,900 900 19,600 16,400 840 640 2,790 1,890 450 350 830 570 340 460 2,910 1,850 15,510 13,250 7,000 5,000 22,510 18,250 A) Calculate the following accounting ratios for each year-end 1) Return on Capital Employed 2) Profit Margin on Sales 3) Gearing Ratio 4) Interest Cover Ratio 5) Return to Shareholders 6) Quick Asset or Acid test Ratio 7) Cash Conversion Period (Operating Cash Cycle) B) Outline the limitations of accounting ratios
- Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents $3,040 $1,908 Accounts receivable, net 3,370 3,180 Inventories 2,774 3,016 Other current assets 1,956 1,628 Total current assets $11,140 $9,732 Current liabilities $4,882 $5,875 Calculate the current ratio and working capital for 3M for 2019 and 2020.View Policies Current Attempt in Progress The comparative statement of financial position for Sunland Corporation shows the following noncash current asset and liability accounts at March 31: 2021 2020 Accounts receivable $65,000 $42,000 Inventory 80,000 63,500 Accounts payable 35,000 44,000 Dividends payable 1,400 2,400 Sunland's statement of income reported the following selected information for the year ended March31, 2021: net income was $270,000, depreciation expense was $65,000, and a loss on the disposal of land was $15,000. Sunland uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SUNLAND CORPORATION Statement of Cash Flows (Partial) Operating activities Adjustments to reconcile net income toss