Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:Current YearPrevious YearCurrent assets$285,820$179,920Property, plant, and equipment516,320463,640Intangible assets119,86048,440Current liabilities175,18096,880Long-term liabilities378,020283,720Common stock92,20089,960Retained earnings276,600221,440Prepare 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 CompanyComparative Balance SheetFor the Years Ended December 31CurrentCurrentPrevious PreviousyearyearyearyearAmount PercentAmountPercentCurrent assets$285,820$179,920Property, plant, and equipment516,320%463,640%Intangible assets119,86048,440Total assets$922,000$692,000Current liabilities$175,180%$96,880%Long-term liabilities378,020%283,720%Common stock92,20089,960%Retained earnings276,600%221,440Total liabilities and stockholders' equity $922,000$692,000%

Comparative balance sheets are used to compare data of one or more years. It is also helpful in…

Answered: Balance sheet data for Kwan Company on…

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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FROM THE FOLLOWING, CALCULATE PROFITABILITY RATIOS.TRADING AND PROFIT AND LOSS ACCOUNT OF MMR & CO.FOR THE YEAR ENDING 31.12. 2019(HORIZONTAL FORMAT)PARTICULARS $ PARTICULARS $Opening stock 199,000 Sales 1,700,000Purchases 1,119,000 Closing stock 298,000Gross profit 680,0001,998,000 1,998,000Administrationexpenses300,000 Gross profit 680, 000Selling expenses 60,000 Interest 18,000Financeexpenses30,000Loss on sale ofplant8,000Net profit 300,000698,000 698,000
Here is financial information for Windsor, Inc. December 31, 2022 December 31, 2021 Current assets $104,753 $ 89,000 Plant assets (net) 367,169 319,000 Current liabilities 108,936 72,000 Long-term liabilities 109,986 83,000 Common stock, $1 par 120,946 106,000 Retained earnings 132,054 147,000 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) WINDSOR, INC. Assets Current Assets Condensed Balance Sheet December 31 2022 2021 $104,753 $89,000 Plant assets (net) 367,169 319,000 Total assets Liabilities Current Liabilities $471,922 $408,000 $108,936 $72,000 Long-term liabilities 109,986 83,000 +A +A Increase or (Decrease) Amount Percentage % de % % do % % de Total liabilities $218,922 $155,000 do % Stockholders' Equity Common stock, $1 par 120,946 106,000 % Retained earnings 132,054 147,000 %…
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Find for Armstrong Company and Blair Company : Liquidity Ratio (a) Current Ratio Market tests (b) Price/earnings ratio (c) Divident yield ratio (%)
Wichita, Inc. reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net income Current assets; Long-term assets Total assets Current liabilities Long-term liabilities Total liabilities. Common stock Retained earnings Total equity Total liabilities and equity What is the company's debt-to-assets ratio? $200,000 180,000 $50,000 150,000 $ 20,000 80,000 $ 40,000 60,000 $ 20,000 $200,000 100,000 100,000 $200,000
Compute basic earnings per share for 2021 Compute the diluted earnings per share for 2021
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WD Corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals: Cash $ 42,000 Current liabilities $ 77,000 Accounts receivable 57,000 Long-term liabilities 28,000 Inventory 62,000 Common stock 102,000 Equipment 147,000 Retained earnings 101,000 Total assets $ 308,000 Total liabilities and equity $ 308,000
The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Balance sheet Cash Accounts receivable (net) Inventory Property & equipment (net) Blue Water Prime Fish $ 42,400 45,000 $ 19,600 35,200 Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity $ 425,800 Income statement Sales revenue (1/3 on credit) Cost of goods sold Operating expenses Net income Other data Per share stock price at end of current year Average income tax rate $ 426,000 (234,000) (163,800) 92,000 161,000 85,400 $ 425,800 $ 92,000 74,800 157,800 30,400 70,800 48,400 417,800 319,000 $ 840,000 $ 70,000 62,800 526,000 107,400 73,800 $ 840,000 $ 788,000 (401,400) (312,400) $ 28,200 $ 74,200 $ 23.4 30% $ 29 30% Dividends declared and paid in current year $ 34,400 $ 155,000 Both companies are in the fish catching and manufacturing…
Prepare a vertical analysis for Carson Corporation’s balance sheet to determine the component percentages of its assets, liabilities, and stockholders’ equity. Round percentages to the nearest one-hundredth percent. Carson Corporation Balance Sheet as of December 31, 2020 Assets Total current assets $ 124,000 Long-term investments 351,000 Property, plant, and equipment, net 950,000 Total assets $1,425,000 Liabilities Total current liabilities $ 460,000 Long-term debt 230,000 Total liabilities $ 690,000…
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (4,000 shares) Retained earnings Common equity Total llabilities and equity Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization EBIT Interest EBT Taxes (25%) Net Income Dividends pald Income Statement for Year Ending December 31, 2021 2021 Balances, 12/31/20 2021 Net Income Cash Dividends Addition to retained earnings Balances, 12/31/21 $ 15,000 35,000 34,190 $ 84,190 48,000 $132,190 $ 10,100 7,300 6,200 $ 23,600 15,000 $ 38,600 60,000 33,590 $ 93,590 $132,190 c. Construct Arlington's 2021 statement of stockholders' equity. Shares $ 2020 $ 13,000 30,000 28,000…

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