CashAccounts receivable (net)Other current assets1.InvestmentsPlant and equipment (net)Net sales2.NOVAK CORPORATIONBalance SheetsDecember 31Current liabilitiesLong-term debtCommon stock, $10 parRetained earningsSales revenueLess: Sales returns and allowancesNet incomeAdditional information:2022$32,00052,00093,00058,000500,000$735,000148,000Cost of goods soldGross profitOperating expenses (including income taxes)323,000177,000NOVAK CORPORATIONIncome StatementsFor the Years Ended December 312021$ 22,00047,000$87,000 $82,000202298,000370,000$610,00073,000313,000127,00088,000699,400428,311271,0892021$20,0002020$743,000 $603,00043,600115,000$735,000 $610.000 $543,00050,00032,265570,735352,878217,857181,870 ▷ 151,764$89,219$66,09367,00048,000358,000$543,000$72,00053,000303,000The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively.You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2021 and 2022. (Round earnings per share and asset turnover to 2 decimal places; eg 1.83 andanswers to 1 decimal place, e.g. 1.8 or 1.8%)Profit marginGross profit rateAsset turnoverEarnings per sharePrice-earnings ratioPayout ratioDebt to assets ratio2022%%timestimes%%4$2021%timestimes%%

Name: CashAccounts receivable (net)Other current assets1.InvestmentsPlant a
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: CashAccounts receivable (net)Other current assets1.InvestmentsPlant and equipment (net)Net sales2.NOVAK CORPORATIONBalance SheetsDecember 31Current liabilitiesLong-term debtCommon stock, $10 parRetained earningsSales revenueLess: Sales returns and a

The ratio is the technique used by the prospective investor or an individual or strategist to read…

Business

Accounting

Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 1. NOVAK CORPORATION Balance Sheets December 31 Current liabilities Long-term debt Common stock, $10 par Retained earnings Net sales Sales revenue Less: Sales returns and allowances Net income Additional information: 2022 $32,000 52,000 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) 2021 2022 $22,000 $20,000 47,000 98,000 370,000 $610,000 73,000 313,000 127,000 $82,000 $72,000 88,000 53,000 $743,000 43,600 181,870 699,400 428,311 271,089 $89,219 $735,000 $610.000 $543,000 2020 2021 67,000 48,000 358,000 $543,000 50,000 $603,000 32,265 570,735 352,878 217,857 151,764 $66,093 303,000 115,000 The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively. 2. You must compute dividends paid. All dividends were paid in cash.

Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 1. NOVAK CORPORATION Balance Sheets December 31 Current liabilities Long-term debt Common stock, $10 par Retained earnings Net sales Sales revenue Less: Sales returns and allowances Net income Additional information: 2022 $32,000 52,000 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) 2021 2022 $22,000 $20,000 47,000 98,000 370,000 $610,000 73,000 313,000 127,000 $82,000 $72,000 88,000 53,000 $743,000 43,600 181,870 699,400 428,311 271,089 $89,219 $735,000 $610.000 $543,000 2020 2021 67,000 48,000 358,000 $543,000 50,000 $603,000 32,265 570,735 352,878 217,857 151,764 $66,093 303,000 115,000 The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively. 2. You must compute dividends paid. All dividends were paid in cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000
A comparative statement of financial position for Blue Spruce Industries Inc. follows: BLUE SPRUCE INDUSTRIES INC. Statement of Financial Position December 31, 2023 Assets Cash Accounts receivable Inventory. Land Equipment Accumulated depreciation-equipment Total Liabilities and Shareholders' Equity Accounts payable Bonds payable Common shares Retained earnings Total Additional information: 1 2. 3. vi December 31 2023 $22,800 122,000 234,000 77,000 269,000 (70,300) $654,500 $52,400 163,800 233,000 205,300 $654,500 No equipment was sold during the year. 2022 $35,800 55,600 191.000 Net income for the fiscal year ended December 31, 2023, was $130,000. Cash dividends of $48,300 were declared and paid. Dividends paid are treated as financing activities. Bonds payable amounting to $50,000 were retired through the issuance of common shares. 4. Land was sold at a gain of $4,000 125.000 216.000 (43,500) $579,900 $59,500 213,800 183,000 123.600 $579,900
Madsen Company reported the following information for :2020 Sales revenue Cost of goods sold Operating expenses O dividends 220,000 Unrealized holding gain on available-for-sale debt securities 180,000 Cash O $420,000 $2,040,000 1,400,000 $128,000 For 2020, Madsen would report other comprehensive income of 8,000 .a .b
1.Prepare the balance sheet 2. and the income statement for Belmond Inc
CABOT CORPORATIONBalance SheetDecember 31 Assets Liabilities and Equity Cash $ 10,000 Accounts payable $ 19,500 Short-term investments 8,000 Accrued wages payable 3,400 Accounts receivable, net 33,600 Income taxes payable 2,900 Merchandise inventory 42,150 Long-term note payable, secured by mortgage on plant assets 66,400 Prepaid expenses 2,800 Common stock 83,000 Plant assets, net 147,300 Retained earnings 68,650 Total assets $ 243,850 Total liabilities and equity $ 243,850 Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)
What is the debit to asset ratio?
Accounts Payable Notes Payable Long Term Debt Common Stock Retained Earnings Total Liabilities & Equity $ 275,000 $ 315,000 $ 495,000 $ 925,000 $2,450,000 $4,460,000 Pre-Tax Cost of Debt: Intermediate Debt: 4.5% Long Term Debt: 6.5% Tax Rate: 21% Return on Equity: 11% Dividends per share: $0.20 Earnings per share: $0.90 C/S market price: $55 C/S outstanding: 80000 shares This company uses intermediate debt, long-term debt and common equity to finance its operations. With the information presented above: a. Calculate the firm's debt ratio (book value and market value based) b. Calculate the firm's WACC c. Calculate the new firm's WACC if the firm issued 150,000 new common stock at a flotation cost of $1.20 per share. The new issuance generates $4.5 million.
The following information is available in respect of Vegas plc for the last 2 years ended 31 December. Non-current Assets (at Net Book Value) Current Assets: Inventory Trade receivables Cash at bank Equity and Liabilities: Equity Share capital £1 Share premium Revenue reserve Vegas plc: Statement of Financial Position 31.12.2021 Non-current Liabilities: Loan Current Liabilities: Trade payables Taxation (accrual) Operating profit Taxation £000 390 462 80 88 142 £000 2,100 932 3.032 900 50 852 1,802 1,000 230 3.032 274 (156) 118 (87) 31 31.12.2020 Vegas plc: Income Statement (Extract) for the year ended 31.12.2021 £000 Dividends Retained profit for the year The following information is also available: • There were no non-current asset disposals during the year. • Depreciation for the year was £240,000. £000 210 346 50 73 137 £000 1,975 606 2.581 700 821 1,521 850 210 2.581 Prepare, in a suitable format, the Statement of Cash Flow for Vegas plc for the year ended 31.12.2021, presenting…
Please answer all requirements
CABOT CORPORATIONBalance SheetDecember 31 Assets Liabilities and Equity Cash $ 10,000 Accounts payable $ 19,500 Short-term investments 8,000 Accrued wages payable 3,400 Accounts receivable, net 33,600 Income taxes payable 2,900 Merchandise inventory 42,150 Long-term note payable, secured by mortgage on plant assets 66,400 Prepaid expenses 2,800 Common stock 83,000 Plant assets, net 147,300 Retained earnings 68,650 Total assets $ 243,850 Total liabilities and equity $ 243,850 Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)
Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 Year 7 Year 6 Current Assets Cash and cash equivalents $ 634,527 $ 335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430 Current Liabilities Short-term borrowings $ 306,376 $ 170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…
Assets Line Item Description Amount Cash and short-term investments $42,572 Accounts receivable (net) 33,774 Inventory 37,691 Property, plant, and equipment 215,705 Total assets $329,742 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,960 Long-term liabilities 98,919 Common stock, $10 par 64,740 Retained earnings 97,123 Total liabilities and stockholders’ equity $329,742 Income Statement Line Item Description Amount Sales $91,805 Cost of goods sold (41,312) Gross profit $50,493 Operating expenses (28,002) Net income $22,491 Number of shares of common stock 6,474 Market price of common stock $28 What is the current ratio?