Baltimore Company experienced an increase in total assets of $15,500 during the current year. During the same time period, total liabilities increased by $4,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income?
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Baltimore Company experienced an increase in total assets of $15,500 during the current year. During the same time period, total liabilities increased by $4,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income?
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- Baltimore Company experienced an increase in total assets of $15,500 during the current year. During the same time period, total liabilities increased by $4,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income? General Account.Baltimore Company experienced an increase in total assets of $12,500 during the current year. During the same time period, total liabilities increased $9,100. Shareholders made no investments during the and no dividends were paid. How much was Baltimore's net income? yearnet income? Cost Account
- At the beginning of the year, Pharoah Ltd. had total assets of $806,400 and total liabilities of $470,400. Use this information to answer each of the following independent questions. During the year, Pharoah's total liabilities decreased by $112,000. The company reported net income of $100,800, sold additional shares for $140,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year? Assets $During the current year, the total assets of Mifflinburg Corporation decreased by $60,000 and totalliabilities decreased by $300,000. The company issued $100,000 of new stock, and its net incomefor the year was $250,000. No other changes to stockholders’ equity occurred during the year.Determine the dollar amount of dividends declared by the company during the year.Please solve this problem
- Gilmore, Inc., had equity of $215,000 at the beginning of the year. At the end of the year, the company had total assets of $370,000. During the year, the company sold no new equity. Net income for the year was $45,000 and dividends were $6,600. a. Calculate the internal growth rate for the company. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. Calculate the internal growth rate using ROA × b for beginning of period total assets. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. Calculate the internal growth rate using ROA × b for end of period total assets. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)What was the net income?The following shows Petroxy Oil Co.'s income statement for the last two years. The company had assets of $3,525 million in the first year and $5,639 million in the second year. Common equity was equal to $1,875 million in the first year, and the company distributed 100% of its earnings out as dividends during the first and the second years. In addition, the firm did not issue new stock during either year. Petroxy Oil Co. Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Year 1 1,905 1,500 1,610 1,495 Net Sales Operating costs except depreciation and amortization Depreciation and amortization Total Operating Costs Operating Income (or EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes (25%) Net Income 95 1,705 200 20 180 45 135 60 1,555 -55 -7 -48 -12 -36
- The income statement for Stretch-Tape Corporation reports net sales of $540,000 and net income of $65,700. Average total assets for the year are $900,000. Stockholders’ equity at the beginning of the year was $600,000, and $30,000 was paid to stockholders as dividends during the year. There were no other stockholders’ equity transactions that occurred during the year. Required: Calculate the return on assets, profit margin, asset turnover, and return on equity ratios.Maynard enterprises paid $ 1,384 in dividends and $1,067 in interest over the past year.The common stock account increased by $ 1,272 and retainef earnings decreased by $ 379. What was the company net Income?At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $12,400 and liabilities of $6,400. During the year, liabilities decreased by $1,400. Net income for the year was $3,050, and net assets at the end of the year were $6,650. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Stockholders' Equity Assets Liabilities + PIC RE Beginning: Changes: $ 12,400 = $ (750) = 6,400 + (1,400) + $ 0+ $ 6,000 0+ Changes: Ending: $ 11,650 = $ 5,000 + 0+ EA $ 3,050 +Net income (2,400) Dividends 6,650