Homework Help is Here – Start Your Trial Now!
Business
Accounting
Balance sheet and income statement below. Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets 2021 **** 86 203 327 $ 616 $1,115 174 $941 162 $1,103 $1,719 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) S 2020 85 195 305 $ 585 $ 910 127 $ 783 162 $ 945 $1,530 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equitu S 2021 62 168 145 $ 375 $ 632 $ 6 120 586 $ 712 $ 55 155 145 $ 355 $ 584 2020 $ 6 120 465 $ 591

Balance sheet and income statement below. Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets 2021 **** 86 203 327 $ 616 $1,115 174 $941 162 $1,103 $1,719 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) S 2020 85 195 305 $ 585 $ 910 127 $ 783 162 $ 945 $1,530 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equitu S 2021 62 168 145 $ 375 $ 632 $ 6 120 586 $ 712 $ 55 155 145 $ 355 $ 584 2020 $ 6 120 465 $ 591

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Common stock dividends .....

And 

Preferred stock dividends.....

Great on how you explained everything.  Appreciate it. 

Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ 86 203 327 $ 616 2021 $1,115 174 941 162 $1,103 $1,719 $ Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Earnings before interest, taxes, depreciation, and amortization (EBITDA) CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings. Per (common) share data: 2020 $ 85 195 305 $ 585 $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 910 127 $ 783 162 $945 $1,530 2021 $ 920 403 $ 517 61 $ 456 47 $ 409 62 $ 347 145 $ 202 $ 6 $196 75 $121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity. 2020 $ 830 366 $ 464 55 $ 409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 2021 $ 62 168 145 $ 375 $ $ 632 $ 6 120 586 $ 712 $1,719 2020 $ 55 155 145 355 584 $ 6 120 465 $591 $1,530
Transcribed Image Text:Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ 86 203 327 $ 616 2021 $1,115 174 941 162 $1,103 $1,719 $ Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Earnings before interest, taxes, depreciation, and amortization (EBITDA) CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings. Per (common) share data: 2020 $ 85 195 305 $ 585 $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 910 127 $ 783 162 $945 $1,530 2021 $ 920 403 $ 517 61 $ 456 47 $ 409 62 $ 347 145 $ 202 $ 6 $196 75 $121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity. 2020 $ 830 366 $ 464 55 $ 409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 2021 $ 62 168 145 $ 375 $ $ 632 $ 6 120 586 $ 712 $1,719 2020 $ 55 155 145 355 584 $ 6 120 465 $591 $1,530
is deducted should be Indicated with a minus sign.) x Answer is complete but not entirely correct. Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): P Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: S Dog Biscult Corporation. (Enter your answers in millions of dollars. Amounts to be 16-17 Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities $ 202 47 $ WH (22) (8) $ 239 13 7 $ (205) 0 $ (205) 69 0 48 0 (6) (75) $ (33) $ 1 X X ×››>
Transcribed Image Text:is deducted should be Indicated with a minus sign.) x Answer is complete but not entirely correct. Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): P Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: S Dog Biscult Corporation. (Enter your answers in millions of dollars. Amounts to be 16-17 Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities $ 202 47 $ WH (22) (8) $ 239 13 7 $ (205) 0 $ (205) 69 0 48 0 (6) (75) $ (33) $ 1 X X ×››>
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Intangible assets
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS