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- You have been provided with the following extracts of the financial statements of Provision Ltd for the year ended 31 December 2018. Statement of financial position for the year ended 31 December 2018 Non-current assets Current assets Inventories Trade receivables Cash Total assets Equity and Liabilities Shareholders equity and reserves Contributed equity (ordinary shares) Retained income Preference shares - Non-current liabilities Loan Current liabilities Trade payables Dividends payable Inland Revenue Total equity and liabilities Note 1 S S SSS S $ SSS S SSS S S S 2018 328,000 S 498,000 S 170,000 S 90,000 $ 62,000 $ 55,000 18,000 $ 5,000 $ 2017 80,000 $ 48,000 $ 12,000 $ 20,000 $ 286,000 170,000 110,000 418,000 $ 290,000 170,000 $ 198,000 $ 50,000 $ S S 456,000 110,000 130,000 50,000 100,000 66,000 44,000 10,000 12,000 498,000 S 456,000 Extract from the statement of profit and loss for the year ended 31 December 2018: Gross revenue S 375,000 Cost of sales $ 217,000 S 158,000 Net…A corporation using the equity method of accounting for its investment in a 80%–owned investee, which earned $20,000 and paid $5,000 in dividends What is the ending balance of investment on 31/12 if investment in 1/1 amount 100,000$ ? Select one: a. 112,000 b. 115,000 c. 120,000 d. 100,00Changes in Equity Homework Problem Equity Common stock with $.01 par value 80 (9,000 million shares authorized, 8,019 million shares issued) Additional paid in capital 15,557 Earnings reinvested 421,341 Accumulated other comprehensive income (19,493) Common stock held in treasury (3,785 million shares in 2019) (225,835) ExxonMobil share of equity 191,650 Above is the stockholders equity section of EX’s balance sheet at the end of 2019 in millions. The following happened in 2020 (everything in millions): Net income of $19,710 Total other comprehensive income for 2020 is $3,910. Stock was repurchased in the open market on February 1 and September 1. Both times EX spent exactly 7,000. The share price on Feb 1 was $154 and on Sep 1 was $168. Stock options granted in 2013 (already earned) were exercised on July 1 to purchase 400 million shares at $125 each. The stock released from the treasury to cover these shares was originally purchased by EX for $105 per share. A stock split that is…
- 1. statement of changes in equity for the year 2020 2. statement of financial positionThe management of Kosoko traders wants to establish theamount of financial needs for the next two years.Thebalance sheet of the firm as at 31stDecember 2016 is asfollows:Shs.‘000’Net fixed assets 124,800Stock 38,400Debtors 28,800Cash 7,200TotalAssets 199,200Financedby:Ordinary share capital 84,000Retained earnings 35,20012%long-term debt 20,000Trade creditors 36,000Accrued expenses 24,000TOTAL 199,200For the year ended 31st December,2016sales amounted to sh.240,000,000.The firm projects that the sales will increase by15%in 2017and 20% in 2018.After tax profit on sales has been 11% but the management ispessimistic about future operating costs and use anafter-tax profit on sales rate of 8%per annum by 2018.The firmintends to maintain it's dividend pay out ratio 80%.Assets areexpected to vary with sales,while trade creditors and accruedexpenses form the spontaneous sources of financing.Any external financing will be effected through the use of commercial paper.calculate amount of external…A1 Pet Supply Company issued 20,000 shares of $1 par common stock for $40 per share during 2025. The company paid dividends of $48,000 and issued a long-term note payable for $440,000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows? OA) $12,000 net cash inflow O B) $705,000 net cash outflow OC) $1,192,000 net cash inflow D) $352,000 net cash inflow
- Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $355,300 $211,680 Property, plant, and equipment 543,400 509,600 Intangible assets 146,300 62,720 Current liabilities 188,100 94,080 Long-term liabilities 428,450 321,440 Common stock 104,500 109,760 Retained earnings 323,950 258,720 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current year year Amount Percent Previous Previous year year Amount Percent Current assets $355,300 $211,680 % Property, plant, and equipment 543,400 509,600 % Intangible assets % 146,300 62,720 % % %GodoPlease do not give solution in image format thanku
- QUESTION 6 Southeast Systems has the following balance sheet and the income statement. The company had 10 million shares of common stock outstanding and its market price of the common stock was $78 at the end of 2014. Make sure the unit is in million dollars. (unit: $ in millions) Southeast Systems Balance Sheets 2013 2014 2013 2014 Cash $50 $100 Accounts payable $450 $500 Accounts receivable 600 700 Notes payable 300 400 Inventory 500 550 Long-term debt 650 650 Net fixed assets 1,000 1,000 Common equity 300 300 Retained earnings 450 500 Total Assets $2,150 $2,350 Total Liabilities & Owner’s Equity $2,150 $2,350 Income Statement 2014 Sales $2,370 Cost of goods sold 2,070 Depreciation 200 EBIT 100 Interest expenses 20 Taxable income 80 Taxes 28 Net income $52 Dividends $2 (1) What is the…An analyst gathered the following information about the company: 2021 net sales R10 000 000 2021 net profit margin 5.0% 2022 expected sales growth -15.0% 2022 expected profit margin 5.4% 2022 expected ordinary shares outstanding 120 000 The analyst's estimate of the company's 2022 earnings per share should be closest to... a. R2.26 b. R2.72 C. R3.83 d. R4.17M Summer 2023 i The balance sheet for Quinn Corporation is shown here in market value terms. There are 6,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $45,200 Equity 460,000 $ 505,200 Total $505,200 a. Shares outstanding b. New stock price $ 505,200 Instead of a dividend of $1.50 per share, the company has announced a share repurchase of $9,000 worth of stock. a. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
