balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Additional Information: Cash from operating activities Capital expenditures Dividends paid on common stock Average number of common shares outstanding (a1) Your answer is incorrect. Net income Earnings per share $ $ Sunland Corporation Sunland Corporation 2025 $1,805,000 1,238,000 309,000 and Carla Vista Corporation, two competitors, appear below. All 89,000 8,000 427,600 542,400 71,490 148,700 152,400 83,400 36,800 100,000 $ $ Carla Vista Corporation 2025 $610,000 365,000 99,000 4,100 37,900 131,000 Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. 15.55.) 141,000 35,822 29,730 43,500 22,200 15,100 50,000 Carla Vista Corporation

balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Additional Information: Cash from operating activities Capital expenditures Dividends paid on common stock Average number of common shares outstanding (a1) Your answer is incorrect. Net income Earnings per share $ $ Sunland Corporation Sunland Corporation 2025 $1,805,000 1,238,000 309,000 and Carla Vista Corporation, two competitors, appear below. All 89,000 8,000 427,600 542,400 71,490 148,700 152,400 83,400 36,800 100,000 $ $ Carla Vista Corporation 2025 $610,000 365,000 99,000 4,100 37,900 131,000 Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. 15.55.) 141,000 35,822 29,730 43,500 22,200 15,100 50,000 Carla Vista Corporation

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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Comparative balance sheets for Pharoah Company are as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. 2. 3. 4. 5. 6. 7. Pharoah Company Comparative Balance Sheets December 31 Balance Sheet Accounts Total Total Net income for 2025 was $136,000. Cash dividends of $67,000 were declared and paid Bonds payable with a carrying value of $46,000 were redeemed for $46,000 cash. Common stock was issued at par for $60,000 cash. Depreciation expense was $23,100. Sales revenue for the year was $970,000. Land was sold at cost, and equipment was purchased for cash. Investing activities Prepare a worksheet for a statement of cash flows for 2025 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a-sign eg-15,000 Statement of…
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Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700…