Birch Campsite is a private camping ground Pinecrest National Park. It has compiled the financial information as of December 31, 2024. near the following Service revenue (from camping $178,600 fees) Sales revenue (from general store) $48,700 Accounts payable Cash Equipment Dividends Notes payable Expenses during 2024 Supplies Common stock Retained earnings (1/1/2024) Determine Birch Campsite's net income for 2024. $22,500 $16,800 $185,400 $16,200 $82,300 $168,500 $11,200 $68,000 $9,800
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- S Find online the annual 10 - K report for Costco Wholesale Corporation (COST) for September 28, 2023 f. Did the company have any contingent liabilities at the balance sheet date? Discuss the specific nature of these contingencies and how (or whether) they are expected to affect the firm's financial health h ASSEN s Ope TOTAL ASSETS CURRENT LIABILITIES LABILITIES AND EQUITY A Der Cap OTT L se org TOTAL LIATES COMMITMENTS AND CONTINGENCIES COUNTY 10 suhted this Consescanda Talk sil TOTAL LIABUTES AND EQUITY 2/12 3/18 2241 17667 Sa 24741 2/14 4 04.15 17482 s 52.545 2321 7301 топ 2337 2174 1.589 22 5611 TRE 3377 242 2482 2555 2.558 BUX 4351 = - 2 7.340 084 138931 21842 25194 21547 94111Assets Current assets Net fixed assets INCOME STATEMENT, 2022 (Figures in $ millions) Revenue Cost of goods sold Depreciation Interest expense 2021 $ 101 2022 $ 195 910 1,010 $ 2,005 1,085 405 251 Req A and B Req C and D BALANCE SHEET AT END OF YEAR (Figures in $ millions) Liabilities and Shareholders' Equity Current liabilities Long-term debt Req E Complete this question by entering your answers in the tabs below. a&b. What is shareholders' equity in 2021 and 2022? c&d. What is net working capital in 2021 and 2022? e. What are taxes paid in 2022? Assume the firm pays taxes equal to 21% of taxable income. f. What is cash provided by operations during 2022? g.Net fixed assets increased from $910 million to $1,010 million during 2022. What must have been South Sea's gross investment in fixed assets during 2022? Answer is complete but not entirely correct. h. If South Sea reduced its outstanding accounts payable by $46 million during the year, what must have happened to its other current…Use the following financial statements for Lake of Egypt Marina, Incorporated LAKE OF EGYPT MARINA, INCORPORATED Balance Sheet as of December 31, 2024 and 2023 (in millions of dollars) 2024 2023 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities Accounts receivable Inventory $ 82 45 180 $ 48 Accrued wages and taxes 52 Accounts payable 92 Notes payable Total Fixed assets: $ 307 $ 192 Total Long-term debt: Gross plant and equipment $ 265 Less: Depreciation 70 40 Net plant and equipment Other long-term assets Total $ 195 25 $ 184 24 $ 220 $ 208 Total Total assets $ 527 $ 224 Stockholders' equity: Preferred stock (2 million shares) Common stock and paid-in surplus (24 million shares) Retained earnings $ 400 Total liabilities and equity Net sales (all credit) Less: Cost of goods sold Gross profits LAKE OF EGYPT MARINA, INCORPORATED Income Statement for Years Ending December 31, 2024 and 2023 (in millions of dollars) 2024 $ 600 216 $ 384 30 354…
- Locate Gap Inc.’s 2020 Annual Report (for fiscal year 2/2/20-1/30/21) There are 10 sections of questions. You will find the information necessary to answer the questions in “Item 8. Financial Statements and Supplementary Data,” of the report. Read through the questions carefully and answer in the space provided. What are the following amounts at 1/30/21: Total Assets : Total Liabilities: Total Owner’s Equity : At 1/30/21: What is the percentage of debt used to finance Gap? What is the percentage of owner’s equity used to finance Gap? What is the significance of these two percentages?Need help filling in the blank area'sWhispering Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Date Voucher Terms UnitsReceived Unit InvoiceCost Gross InvoiceAmount 1/15 10624 Net 30 61 $26 $1,586 3/15 11437 1/5, net 30 76 21 1,596 6/20 21332 1/10, net 30 101 20 2,020 9/12 27644 1/10, net 30 95 16 1,520 11/24 31269 1/10, net 30 87 14 1,218 Totals 420 $7,940 A physical inventory on December 31, 2020, reveals that 118 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Whispering Football Shop uses the invoice price less discount for recording purchases. (a) Correct answer icon Your answer is correct. Compute the December 31, 2020, inventory using the FIFO method. (Round per unit and final answer to 2 decimal…
- Whispering Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Date Voucher Terms UnitsReceived Unit InvoiceCost Gross InvoiceAmount 1/15 10624 Net 30 61 $26 $1,586 3/15 11437 1/5, net 30 76 21 1,596 6/20 21332 1/10, net 30 101 20 2,020 9/12 27644 1/10, net 30 95 16 1,520 11/24 31269 1/10, net 30 87 14 1,218 Totals 420 $7,940 A physical inventory on December 31, 2020, reveals that 118 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Whispering Football Shop uses the invoice price less discount for recording purchases. (a) Incorrect answer icon Your answer is incorrect. Compute the December 31, 2020, inventory using the FIFO method. (Round per unit and final answer to 2 decimal…VaiTypes of accounts answer choices: Asset Equity Expense Liability Revenue Normal balance answer choices: Credit Debt Increase (Dr. or Cr.) Credit Debt
- Tamarisk Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Date Voucher Terms UnitsReceived Unit InvoiceCost Gross InvoiceAmount 1/15 10624 Net 30 66 $28 $1,848 3/15 11437 1/5, net 30 81 22 1,782 6/20 21332 1/10, net 30 106 21 2,226 9/12 27644 1/10, net 30 100 17 1,700 11/24 31269 1/10, net 30 92 15 1,380 Totals 445 $8,936 A physical inventory on December 31, 2020, reveals that 110 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Tamarisk Football Shop uses the invoice price less discount for recording purchases. Compute the December 31, 2020, inventory using the FIFO method. Ending Inventory using the FIFO method LIFOCheyenne Inc. had the following balance sheet at December 31, 2024. Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. 7. Cheyenne Inc. Balance Sheet December 31, 2024 8. $23,760 24,960 35,760 81,000 43,760 $209,240 Accounts payable Notes payable (long-term) Common stock Retained earnings $33,760 44,760 103,760 26,960 $209,240 Cheyenne Inc. sold part of its debt investment portfolio for $17,060. This transaction resulted in a gain of $5,460 for the firm. The company classifies these investments as available-for-sale. A tract of land was purchased for $16,760 cash. Long-term notes payable in the amount of $18,060 were retired before maturity by paying $18,060 cash. An additional $22,060 in common stock was issued at par. Dividends of $10,260 were declared and paid to stockholders. Net income for 2025 was $35,760 after allowing for depreciation of $13,060. Land was purchased through the issuance of $38,760 in bonds. At…Perform February 2023, journal entries and balance sheet.

