Assets Cash Comparative Balance Sheets December 31, 2018 and 2017 Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense Net income $ 9,400 7,400 2018 $ 53,800 13,400 120,100 $ 32,000 600 32,600 187,300 165,100 66,500 56,100 (30,100) (20,700) $223,700 $200,500 2017 $ 60,900 (25,300) 35,600 $ 53,900 16,400 94,800 16,800 18,800 4,500 $ 14,300 159,400 147,900 31,700 17,400 $223,700 $200,500 $ 34,400 800 35, 200

Assets Cash Comparative Balance Sheets December 31, 2018 and 2017 Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense Net income $ 9,400 7,400 2018 $ 53,800 13,400 120,100 $ 32,000 600 32,600 187,300 165,100 66,500 56,100 (30,100) (20,700) $223,700 $200,500 2017 $ 60,900 (25,300) 35,600 $ 53,900 16,400 94,800 16,800 18,800 4,500 $ 14,300 159,400 147,900 31,700 17,400 $223,700 $200,500 $ 34,400 800 35, 200

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

Comparable balance sheets are presented below:Dec. 31, 2015 Dec. 31, 2014AssetsCash 1.2 1.9Accounts Receivable 0.4 0.3Inventory 1.3 1.0Property, Plant & Equipmen 6.0 3.0Less: Accumulated Depreciation (0.8) (0.4)8.1 5.8Liabilities & Stockholder's EquityAccounts Payable 2.6 2.1Dividends Payable - -Bonds Payable 4.4 2.8Common Stock, $1 Par Value 0.2 0.1Paid-in Capital in Excess of Par Value 3.2 2.2Retained Earnings (2.3) (1.4)8.1 5.8Additional Information:1. The change in PP&E represent cash expenditures for a new factory2. There were no disposals of PP&E during the year3. There were no dividends declared during the year4. The common stock was issued for cash5. A review of the income statement noted a gross profit margin of 20% and Research & Development costs of $0.7 for the yearRequired:1. Prepare a statement of cash flows using the indirect method2. Is the operating cash flow sustainable?3. What are the major sources and uses of cash?4. How are the operations being…
Comparable balance sheets are presented below:Dec. 31, 2015 Dec. 31, 2014AssetsCash 1.2 1.9Accounts Receivable 0.4 0.3Inventory 1.3 1.0Property, Plant & Equipmen 6.0 3.0Less: Accumulated Depreciation (0.8) (0.4)8.1 5.8Liabilities & Stockholder's EquityAccounts Payable 2.6 2.1Dividends Payable - -Bonds Payable 4.4 2.8Common Stock, $1 Par Value 0.2 0.1Paid-in Capital in Excess of Par Value 3.2 2.2Retained Earnings (2.3) (1.4)8.1 5.8Additional Information:1. The change in PP&E represent cash expenditures for a new factory2. There were no disposals of PP&E during the year3. There were no dividends declared during the year4. The common stock was issued for cash5. A review of the income statement noted a gross profit margin of 20% and Research & Development costs of $0.7 for the yearRequired:1. Prepare a statement of cash flows using the indirect method ANSWER : Net Profit (0.90) WHY IS THE NET PROFIT .90 PLEASE EXPLAIN
Sh7
V6
what is the answer of a?
Calculate the dividend payout ratio.
Compute and analyse the trend analysis of the company. attached the Income statement and balance sheet
* CengageNOW2 | Onlin x 2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false 人 еВook Show Me How Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $288,750 $177,120 Property, plant, and equipment 498,750 452,640 Intangible assets 87,500 26,240 Current liabilities 175,000 85,280 Long-term liabilities 376,250 301,760 Common stock 78,750 72,160 Retained earnings 245,000 196,800 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets…
Which statement is correct? O A. current ratio 1.00 D. gross margin > net margin
calculated the current ratio, acid test ratio, account receivable turnover ratio, net profit margin ratio, gross profit margin ratio, asset turnover ratio, asset turnover ratio, debt ratio, debt to total assets ratio. tq
4) 16.63 5) 16.07 Please help me with correct answer thanku
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