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Below is selected information from Marker's financial statements: Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current assets Total Current Assets Plant, Property and Equipment, net Intangible Assets Total Assets Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Current Liabilities Long-term Debt Total Liabilities Shareholders' Equity Total Liabilities and Shareholders' Equity Dec. 31, Year 2 $1,109,493 125,850 195,650 45,300 $1,476,293 1,478,320 125,600 $3,080,213 $ 25,190 45,000 285,400 916,722 125,400 $1,397,712 450,000 $1,847,712 $1,232,501 $3,080,213 Selected Income Statement Data - for the year ending December 31, Year 2: Net Sales $3,210,645 Cost of Goods Sold (2,310,210) Operating Income $ 900,435 Net Income $ 321,000 Dec. 31, Year 1 $ 745,800 135,400 175,840 30,860 $1,087,900 1,358,700 120,400 $2,567,000 $ 38,108 40,000 325,900 705,891 115,600 $1,225,499 430,000 $1,655,499 $911,501 $2,567,000

Below is selected information from Marker's financial statements: Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current assets Total Current Assets Plant, Property and Equipment, net Intangible Assets Total Assets Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Current Liabilities Long-term Debt Total Liabilities Shareholders' Equity Total Liabilities and Shareholders' Equity Dec. 31, Year 2 $1,109,493 125,850 195,650 45,300 $1,476,293 1,478,320 125,600 $3,080,213 $ 25,190 45,000 285,400 916,722 125,400 $1,397,712 450,000 $1,847,712 $1,232,501 $3,080,213 Selected Income Statement Data - for the year ending December 31, Year 2: Net Sales $3,210,645 Cost of Goods Sold (2,310,210) Operating Income $ 900,435 Net Income $ 321,000 Dec. 31, Year 1 $ 745,800 135,400 175,840 30,860 $1,087,900 1,358,700 120,400 $2,567,000 $ 38,108 40,000 325,900 705,891 115,600 $1,225,499 430,000 $1,655,499 $911,501 $2,567,000

FINANCIAL ACCOUNTING
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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A. 34.0% B. 28.7% C. 29.4% D. 25.4% (D is wrong, so what is right?)
Transcribed Image Text:A. 34.0% B. 28.7% C. 29.4% D. 25.4% (D is wrong, so what is right?)
Below is selected information from Marker's financial statements: Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current assets Total Current Assets Plant, Property and Equipment, net Intangible Assets Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Assets Total Current Liabilities Long-term Debt Total Liabilities Shareholders' Equity Total Liabilities and Shareholders' Equity Net Sales Cost of Goods Sold Operating Income Net Income Dec. 31, Year 2 $1,109,493 Interest Expense Income Tax Expense 125,850 195,650 45,300 Selected Income Statement Data - for the year ending December 31, Year 2: $3,210,645 (2,310,210) $900,435 $ 321,000 Marker's Year 2 Long-term Debt to Long-Term Capital ratio is: $1,476,293 1,478,320 125,600 $3,080,213 $25,190 45,000 285,400 916,722 125,400 $1,397,712 450,000 $1,847,712 $1,232,501 $3,080,213 Selected Statement of Cash Flow Data - for the year ending December 31, Year 2: Cash Flows from Operations $147,513 42,400 171,607 Dec. 31, Year 1 $ 745,800 135,400 175,840 30,860 $1,087,900 1,358,700 120,400 $2,567,000 $38,108 40,000 325,900 705,891 115,600 $1,225,499 430,000 $1,655,499 $911,501 $2,567,000
Transcribed Image Text:Below is selected information from Marker's financial statements: Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current assets Total Current Assets Plant, Property and Equipment, net Intangible Assets Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Assets Total Current Liabilities Long-term Debt Total Liabilities Shareholders' Equity Total Liabilities and Shareholders' Equity Net Sales Cost of Goods Sold Operating Income Net Income Dec. 31, Year 2 $1,109,493 Interest Expense Income Tax Expense 125,850 195,650 45,300 Selected Income Statement Data - for the year ending December 31, Year 2: $3,210,645 (2,310,210) $900,435 $ 321,000 Marker's Year 2 Long-term Debt to Long-Term Capital ratio is: $1,476,293 1,478,320 125,600 $3,080,213 $25,190 45,000 285,400 916,722 125,400 $1,397,712 450,000 $1,847,712 $1,232,501 $3,080,213 Selected Statement of Cash Flow Data - for the year ending December 31, Year 2: Cash Flows from Operations $147,513 42,400 171,607 Dec. 31, Year 1 $ 745,800 135,400 175,840 30,860 $1,087,900 1,358,700 120,400 $2,567,000 $38,108 40,000 325,900 705,891 115,600 $1,225,499 430,000 $1,655,499 $911,501 $2,567,000
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