Based on the information above, what is the is the firm's EPS?Group of answer choices$7.55$6.80$5.84$6.47 Great Inc.The balance sheet and income statement shown below are for Great Inc. Note that the firm has noamortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years,and the notes payable will be rolled over.Balance Sheet (Millions of $)2016$ 1,554.09,660.013.440.0$24,654.017,346.0$42,000.0AssetsCash and securitiesAccounts receivableInventoriesTotal current assetsNet plant and equipmentTotal assetsLiabilities and EquityAccounts payableNotes payable$ 7,980.05,880.0AccrualsTotal current liabilitiesLong-term bondsTotal liabilities4,620.0$18,480.010,920.0$29,400.0Common stockRetained earningsTotal common equityTotal liabilities and equity3,360.09,240.0$12,600.0$42.000.0Income Statement (Millions of $)Net salesOperating costs except depr'nDepreciationEarnings bef int and taxes (EBIT)Less interest2016$58,800.0$54,978.0$ 1,029.0$ 2,793.01.050.0$ 1,743.0$ 610.1$ 1,133.0Earnings before taxes (EBT)ТахesNet incomeOther data:Shares outstanding (millions)Common dividends150.00$ 509.83Int rate on notes payable & L-T bondsFederal plus state income tax rateYear-end stock price6.25%35%$105.75

Earning Per Share Earning per share shows the total amount of net income earned by an individual on…

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SWFT Individual Income Taxes

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Author:YOUNG

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Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 49P

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The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Acco nts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes (25%) Net income 2021 $ 3,000 15,000 18,000 $36,000 24,000 $60,000 $20,100 9,900 7,000 $37,000 11,000 $48,000 2,520 9,480 $12,000 $60,000 2021 $96,000 89,280 1,920 $ 4,800 1,080 $ 3,720 930 $ 2,790 Other data: Shares…
The following data concern Tech Corporation for the 2022 financial year. Credit sales during the year $2 400 000 Accounts receivable 30 June 2022 410 000 Allowance for bad debts 30 June 2022 55 000 Bad debt expense for the year 70 000 What amount will Tech Corporation show on its year-end balance sheet for the net realisable value of its accounts receivable? a. 410 000 b. $285 000 c. $340 000 d. $ 355 000
The balance sheet and income statement shown below (in the picture) for Zenzo Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years and the notes payable will be rolled over. Based on the balance sheet, find: 1. Current ration 2. Quick ratio 3. Days sales outstanding. Assume a 365 day year for this calculation.
Income, Cash Flow, and Future Losses On January L 2017, Cermack National Bank loaned 55,000,000 under a 2-year, zero coupon note to a real estate developer. The bank recognized interest revenue on this note of approximately $400,000 per year. Due to an economic downturn, the developer was unable to pay the $5,800,000 maturity amount on December 31, 2018. The bank convinced the developer to pay $800,000 on December 31, 2018, and agreed to extend $5,000,000 credit to the developer despite the gloomy economic outlook for the next several years. Thus, on December 31, 2018, the bank issued a new 2-year, zero coupon note to the developer to mature on December 31, 2020, for $6,000,000. The bank recognized interest revenue on this note of approximately $500,000 per year. The banks external auditor insisted that the riskiness of the new loan be recognized by increasing the allowance for uncollectible notes by $1,500,000 on December 31, 2018, and $2,000,000 on December 31, 2019. On December 31, 20201 the bank received $1,200,000 from the developer and learned that the developer was in bankruptcy and that no additional amounts would be recovered. Required: 1. Prepare a schedule showing annual cash flows fur the two notes in each of the 4 years.
Income, Cash Flow, and Future Losses On January L 2017, Cermack National Bank loaned 55,000,000 under a 2-year, zero coupon note to a real estate developer. The bank recognized interest revenue on this note of approximately $400,000 per year. Due to an economic downturn, the developer was unable to pay the $5,800,000 maturity amount on December 31, 2018. The bank convinced the developer to pay $800,000 on December 31, 2018, and agreed to extend $5,000,000 credit to the developer despite the gloomy economic outlook for the next several years. Thus, on December 31, 2018, the bank issued a new 2-year, zero coupon note to the developer to mature on December 31, 2020, for $6,000,000. The bank recognized interest revenue on this note of approximately $500,000 per year. The banks external auditor insisted that the riskiness of the new loan be recognized by increasing the allowance for uncollectible notes by $1,500,000 on December 31, 2018, and $2,000,000 on December 31, 2019. On December 31, 20201 the bank received $1,200,000 from the developer and learned that the developer was in bankruptcy and that no additional amounts would be recovered. Required: Prepare a schedule showing the effect of the notes on net income in each of the 4 years.
Income, Cash Flow, and Future Losses On January L 2017, Cermack National Bank loaned 55,000,000 under a 2-year, zero coupon note to a real estate developer. The bank recognized interest revenue on this note of approximately $400,000 per year. Due to an economic downturn, the developer was unable to pay the $5,800,000 maturity amount on December 31, 2018. The bank convinced the developer to pay $800,000 on December 31, 2018, and agreed to extend $5,000,000 credit to the developer despite the gloomy economic outlook for the next several years. Thus, on December 31, 2018, the bank issued a new 2-year, zero coupon note to the developer to mature on December 31, 2020, for $6,000,000. The bank recognized interest revenue on this note of approximately $500,000 per year. The banks external auditor insisted that the riskiness of the new loan be recognized by increasing the allowance for uncollectible notes by $1,500,000 on December 31, 2018, and $2,000,000 on December 31, 2019. On December 31, 20201 the bank received $1,200,000 from the developer and learned that the developer was in bankruptcy and that no additional amounts would be recovered. Required: Which figure, net income or net cash flow, does the better job of telling the banks stock-holders about the effect of these notes on the bank? Explain by reference to the schedules prepared in Requirements 1 and 2.
Marmol Corporation uses the allowance method for bad debts. During 2019, Marmol charged 50,000 to bad debt expense and wrote off 45,200 of uncollectible accounts receivable. These transactions resulted in a decrease in working capital of: a. 0 b. 4,800 c. 45,200 d. 50,000
The following financial information relates to Sunland Enterprises Inc. (amounts in thousands): 2022 2023 2024 Income before depreciation, amortization, interest, and taxes $1,491 $2,373 $3,600 Interest expense 154 348 400 Cash 53 112 214 Current liabilities (does not include any debt) 601 727 1,182 Bank loan payable (all long-term) 1,810 3,780 4,560 Shareholders' equity 3,880 5,280 7,282 (a) Calculate the debt to equity, net debt as a percentage of total capitalization, and interest coverage ratios. (Round answers to 1 decimal place, e.g. 18.4 or 15.3%.) Debt to equity ratio 2022 % 2023 % Net debt as a percentage of total capitalization Interest coverage % times % times 2024 % % times
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The net changes in the balance sheet accounts of Amy Corporation for the year 2021 are shown below. Account Debit Credit Cash $ 103,530 Short-term investments $143,990 Accounts receivable 93,058 Allowance for doubtful accounts 15,827 Inventory 88,298 Prepaid expenses 27,132 Investment in subsidiary (equity method) 29,750 Plant and equipment 249,900 Accumulated depreciation 154,700 Accounts payable 96,033 Accrued liabilities 25,585 Deferred tax liability 18,445 8% serial bonds 83,300 Common stock, $10 par 107,100 Additional paid-in capital 178,500 Retained earnings—Appropriation for bonded indebtedness 71,400 Retained earnings—Unappropriated 45,220 $765,884 $765,884 An analysis of the Retained Earnings—Unappropriated account follows: Retained earnings unappropriated, December 31, 2020 $1,547,000 Add: Net income…
how do i prepare the proft and loss account and the balanc esheet extract for the following depreciates at 5%. so year 2017 provison for bad debt would be $350 2018 is $425 and 2019 is $400

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Based on the information above, what is the is the firm's EPS? Group of answer choices $7.55 $6.80 $5.84 $6.47