Cash Flowsfrom OperHoriz Analysis Horiz Analysis Vertic Analysis Vertic AnalysisInc StRatiosBal StInc StBal SheetRequirementPrepare a vertical analysis on the partial income statements for 2017 and 2018. Enter decreases as negativeamounts/percents.C. Kleln Inc.PARTIAL INCOME STATEMENT (HORIZONTAL ANALY SIS)For the yeara ended December 31, 2017 and 2018Increase/decrease20182017AmountPercentSales422,000Cost of goods soldGross marginExpensesDepreciation expenseOther operating expenses85,000Total operating expensesOperating income< Cash Flowa from OperHoriz Analyala Bal st> rehensive Problem 2- St of Cash Flows and Ratios AlgoC. Klein Inc.C. Klein Inc.Income StatementComparative Balance SheetsDecember 31, 2018 and 2017For years ended December 31, 2017 and 201820182017Change20182017$469,000 $422,000(303,000) (248,000)166,000 174,000Current assets:Sales (all on credit)Cost of goods soldGross marginCash$52.26034,000$37,900 $14,360Accounts receivable (net)28,0006,000InventoryPrepaid expenses44,00042,00021002,000-1,200900Depreciation expenseOther operating563136,00051,000Other current assets13102000-690102,00085,000Totol current assets132,470112,000 20,470expensesTotal operating138,000 136,000expensesokOperating income28.00038,000Long-term Investments75,00052,000 23,000Other income(expenses)Plant assets302,000253,000 49,000ncesInterest expense(4,700)(3,500)Less: accumulated(76,800)(51,000) 25,800depreciationGain on sale of4,9003,400Total plant assets225,200202,000 23,200investmentsLoss on sale of plant(2100)(2.500)Total assets432670366,000 66.670OssetsTotal other income(expenses)(11,700)(2,600)Current liabilities:Income before incometaxes26,10035.400Accounts payeble$25,500$26,000S-500Income taxes expense(7,830)(10,620)Accrued liabilities2,40050028,4002000200030,000400Net income$18,270 $24.780Income taxes payableTotal current liobilities-1.500-1,600C. Kleln Inc.Statement of Retained EarningsLong term liabilities:Notes Payable236,000175,000 61.000For the year ended December 31, 2018Total lisbilities264.400205.000 59.40020182017Ret esrnings, Jan. 1$0Stockholders' equityCommon stock, $5 par$23,000Add: net income18,27024,780110,000110,000valueDeduct: DividendsIncreose in retainedearningsRet eornings, Dec. 31(11,000),(1.780)Additional paid-in capital28,00028,0007.27023,000Retained earnings30.27023.0007.270Total stockholders' equityTotal liobilities andstockholders' equity$30.270 $23.000168,270161,0007,270$432.670$366.000 $66,670Other informotion:Shares of commonstock outstondingEamings per shareDividends per shareMarket price pershore, common stock22,00022,000$0.83S0.5$113$0.08$13$12

Vertical analysis mainly refers to the method of financial statement analysis that, helps in figure…

Answered: C. Klein Inc. Income Statement For…

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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What are the firm’s net profit margins for 2018 and 2019? Income Statements ($ in millions) Balance Sheets ($ in millions) 2018 2019 Assets 2018 2019 Sales Revenue $2,580 $2,865 Cash $70 $50 Less: Cost of goods sold $1,060 $1,500 Short-Term investments $35 $9 Less: Operating Expenses $105 $162 Accounts rec. 400 460 Less: Depreciation $85 $80 Inventory 490 556 Earnings before interest and taxes $1,330 $1,123 Total Current Assets $995 $1,075 Less: Interest paid $350 $380 Net fixed assets 1890 1,910 Taxable Income $980 $743 Less: Taxes (40%) $392 $297 Total assets $2,885 2,985 Net income $588 $446 Liabilities and Owner's Equity Dividends (45%) $265 $201 2018 2019 Additions to Retained Earnings $323 $245 Accounts payable $240 $210 Accruals $20 $20 Notes payable 65 74 Total Current…
Direct and Indirect Methods Dauve Company reported the following condensed income statement for 2016: Sales $100,000 Cost of goods sold (58,000) Gross profit $42,000 Operating expenses: Depreciation expense $8,000 Salaries expense 12,000 (20,000) Income before income taxes $22,000 Income tax expense (6,600) Net income $15,400 During 2016, the following changes occurred in the company's current assets and current liabilities: Increase (Decrease) Cash $3,700 Accounts receivable (5,500) Inventories 8,900 Accounts payable (purchases) (4,600) Salaries payable 2,800 Required: 1. By visual inspection, prepare the net cash flow from the operating activities section of Dauve's 2016 statement of cash flows using the indirect method. Use a minus sign to indicate cash outflows or decreases in cash.
Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 11,000 Cost of goods sold 8,200 Depreciation 395 Earnings before interest and taxes $ 2,405 Interest paid 110 Taxable income $ 2,295 Taxes 689 Net income $ 1,606 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 420 $ 445 Accounts payable $ 2,060 $ 2,005 Accounts rec. 1,210 1,110 Long-term debt 1,120 1,580 Inventory 1,980 1,820 Common stock 3,460 3,190 Total $ 3,610 $ 3,375 Retained earnings 700 950 Net fixed assets 3,730 4,350 Total assets $ 7,340 $ 7,725 Total liab. & equity $ 7,340 $ 7,725 What were the total dividends paid for 2017?
($n millions) Net soles Cost of goods sold Depreciation Earnings before interest and taxes Interest paidl Taxable incone 7,010 470 $1,320 165 $1,214 425 Taxes Net. incone $789 windswept, Inc. 2016 and 2017 Balance sheets, ($ in nillions) 2016 2017 2016 2017 Cash Accounts re. Inventory Total Net fixed 33sets Accounts payable Long-tera debt, Conmon stock Retained earnings $240 S 270 $1,410 $1,410 1,110 1,318 1,820 920 1,848 1,710 3,368 3,280 658 3,430 4,008 Total assets $6,530 S6,9 Total 11ab. & equity $6,530$6.988
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Use the following information to answer this question. Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 9,000 Cost of goods sold 7,350 Depreciation 360 Earnings before interest and taxes $ 1,290 Interest paid 87 Taxable income $ 1,203 Taxes 421 Net income $ 782 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 160 $ 190 Accounts payable $ 1,150 $ 1,332 Accounts rec. 840 740 Long-term debt 1,000 1,233 Inventory 1,570 1,565 Common stock 3,190 2,910 Total $ 2,570 $ 2,495 Retained earnings 470 720 Net fixed assets 3,240 3,700 Total assets $ 5,810 $ 6,195 Total liab. & equity $ 5,810 $ 6,195 What is the equity multiplier for 2017?
Problem: Remesh Corporation prepared the following income statement and statement of retained earnings for the year ended December 31, 2021. Remesh Corporation December 31, 2021 Expense and Profit Statement Dollars in thousands Sales (net) $206,000 Less: Selling Expenses (20,600) Net Sales $185,400 Add: Interest Revenue 2,400 Add: Gain on sale of equipment 3,600 Gross Sales Revenue $191,400 Less: Cost of operations: Cost of Goods Sold $126,100 Correction of overstatement in last years income because of error $5,500 (net of tax credit) $3850 Dividend cost ($0.50 per share for 8k common shares) $4000 Unusual loss due to a hurricane, $6,400 (net of tax credit) $1,920 ($135,870) Taxable Revenues $55,530 Less: Income tax on income from continuing operations $16,659 Net income $38871 Miscellaneous Deductions Loss from operations of…
Based on the financial statement information of Monster Inc. in the following table, answer the following questions: Unit in Million US$ accounts receivable annual sales Cost of goods depreciation fixed assets inventory 2019 150 71 31 Start of 2019 52 222 91 End of 2019 59 275 106 1) Calculate the Fixed-asset turnover, Inventory turnover ratio and Days receivable of Monster Inc 0.87 0.63 72 2) Compare the above results with the following industry average information, comment on their implications in terms of efficiency of asset utilisation. Industry average (Unit 2019 in Million US$) Fixed-asset turnover Inventory turnover ratio Days receivable
Return on Assets Ratio and Asset Turnover Ratio Northern Systems reported the following financlal data (in millions) In its annual report: 2018 2019 Net Income $9,050 $7.500 Net Sales 52,350 37,200 Total Assets 58,734 68,128 If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.79%6) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 96 b. Asset Turnover Ratio Check O Prevlous Save Answers
Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Assets Net income Dividends Retained earnings $ 2,757 $ 2,881 4,712 12,698 5,671 13,672 $20,291 $ 22,100 1. Profit margin n. Return on equity SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 $57,432 $77,723 $12,015 24,206 Short-term solvency ratios a. Current ratio b. Quick ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio Profitability ratios $ 83,529 $105,629 $189,570 127,303 5,223 $ 57,044 1,320 $ 55,724 19,503 $36,221 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated…

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