Condensed balance sheet and income statement data for Oriole Corporation are presented here.CashAccounts receivable (net)Other current assetsInvestmentsProperty, plant, and equipment (net)Current liabilitiesLong-term debtCommon stock, $10 parRetained earningsOriole CorporationBalance SheetsDecember 312022$ 30,10049,80089,60055,100500,100$724,70024$84,500145.700381,000113.500$724,700SalesLess: Sales returns and allowancesNet salesCost of goods soldGross profitOperating expenses (including income taxes)Net incomeOriole CorporationIncome StatementFor the Years Ended December 312022$16,10045,50095,00070,000370,800$597,400$79,40084,300319,000114,700$597,4002021$744.50039 200705 300424.700280,600188.911$91.6892021$605,40030,700574.700366.000208.700151 200$57.4702020$18,30047,90063,00046,000358,600$533,800306,000107,400$533,800$69,70050,700Additional information:The market price of Oriole's common stock was $7.00,57.50 and $8.50 for 2020 2021 and 2022, respectivelyYou must compute dividends declared. All declared dividends were cald in cash in the year of declaration (a)Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payoutratio and debt to assets ratio to O decimal places, eg. 18%. Round all other answers to 1 decimal place, eg. 6.8 or 6.8%)(1)(2)(3)(4)(5)(6)Profit margin.Gross profit rateAsset turnoverEarnings per sharePrice-earnings ratioPayout ratioDebt to assets ratio$2021%timestimes$2022%Ntimestimes

Ratio Analysis -The ratio is the technique used by the prospective investor or an individual or…

Condensed balance sheet and income statement data for Oriole Corporation are presented here. Oriole Corporation Balance Sheets December 31 Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross proft 2022 $ 30,100 49,800 89,600 55,100 Additional information 500,100 $724,700 $84.500 145,700 381,000 113.500 $724,700 Oriole Corporation Income Statement For the Years Ended December 31 2022 $744.500 Operating expenses including Income taxes Net income 95,000 70,000 370,800 $597,400 $79,400 2021 39.200 $ 16,100 45,500 319,000 114,700 $597,400 705.300 424.700 280.600 188.911 $91.609 84,300 2021 2020 $ 18,300 47,900 63,000 46,000 358,600 $533,800 $605,400 30,700 574.700 $533,800 366.000 208.700 151200 $57470 $69,700 50,700 306,000 107,400 The market price of Oriole's common stock was $7.00 57.50 and 58.50 for 2020 2021 and 2022, respectively You must compute dividends declared All declared divid

Condensed balance sheet and income statement data for Oriole Corporation are presented here. Oriole Corporation Balance Sheets December 31 Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross proft 2022 $ 30,100 49,800 89,600 55,100 Additional information 500,100 $724,700 $84.500 145,700 381,000 113.500 $724,700 Oriole Corporation Income Statement For the Years Ended December 31 2022 $744.500 Operating expenses including Income taxes Net income 95,000 70,000 370,800 $597,400 $79,400 2021 39.200 $ 16,100 45,500 319,000 114,700 $597,400 705.300 424.700 280.600 188.911 $91.609 84,300 2021 2020 $ 18,300 47,900 63,000 46,000 358,600 $533,800 $605,400 30,700 574.700 $533,800 366.000 208.700 151200 $57470 $69,700 50,700 306,000 107,400 The market price of Oriole's common stock was $7.00 57.50 and 58.50 for 2020 2021 and 2022, respectively You must compute dividends declared All declared divid

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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Here are comparative financial statement data for Vaughn Company and Mary Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities $ Long-term liabilities Common stock, $10 par Retained earnings (a) Vaughn Company Dollars 2022 $1,842,000 1,040,730 268,932 9,210 53,418 323,500 $314,800 520,500 501,500 64,000 109,000 497,500 173,500 $ 2021 74,800 Vaughn Company 91,000 497,500 153,000 Dollars I Condensed Income Statement Percent % 2022 % Mary Company $561,000 297,330 77.979 3,927 Prepare a vertical analysis of the 2022 income statement data for Vaughn Company and Mary Company. (Round percentages to 1 decimal place, e.g. 12.1%) 83,200 6,732 30,600 138,300 125,400 34,000 28,600 Vaughn Company 2021 4 $78,600 117,000 117,000 39,900 $ 24,200 Condensed Income Statement 34,200 Percent Dollars % % % % % % % % % $ Mary Company…
Provided below are the financial statements for J Ltd.: Income statement Balance Sheet Net sales $984 2021 2020 Assets Cost of goods sold $752 Current assets $452 $354 Depreciation $27 Long-term assets $389 $374 EBIT $205 Total assets $841 $728 Interest expense $25 Liabilities and shareholders' equity Current liabilities $247 $164 Income before taxes $180 Long-term debt $157 $145 Taxes $27 Shareholders' equity $437 $419 Net income $153 Total liabilities and shareholders' equity $841 $728 Calculate economic value added (EVA), assuming cost of capital is 7.5%. (Round all the intermediate calculations and the final answer to 2 decimal places) $131.95 $135.70 $98.40 $129.70
es MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable $ 85,650 26,000 61,000 Cash flows from operating activities: Net income 32,400 2,150 2020 $ 525,000 335,600 189,400 123,000 38,000 28,400 9,500 $ 18,900 Changes in current operating assets and liabilities $ 27,800 34,000 54,300 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. 26,700 2,400 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 38,000 $ $ 18,300 38,000 56,300
Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales. Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Blossom Company Oriole Company 2022 Net Income $2,592,000 1,692,000 407,520 9,980 $ 122,500 496,600 766,000 95,500 157,020 198,720 129,600 51,840 80,000 2022 $892,800 489,600 141,120 4,240 51,840 213,840 201,160 (a) Compute the net income and earnings per share for each company for 2022. (Round Earnings per share to 2 decimal places, eg $2.78) Earnings per share 48,600 58,470 51,840 28,800 21,600 50,000
Below are the Income Statement and Balance Sheet for Palmer Corporation for the years ended 2020 and 2021. Calculate the liquidity ratios in the table to the right for the year ended 2021. Palmer Corporation Comparative Income Statement For the Years Ended December 31, 2021 and 2020 2021 2020 Amount Amount Sales $5,750,900 $4,894,800 Cost of goods sold 3,646,700 3,195,600 Gross profit 2,104,200 1,699,200 Selling expenses 775,500 688,700 Administrative expenses 863,900 815,200 Total operating expenses 1,639,400 1,503,900 Income from operations 464,800 195,300 Other income 102,500 84,600 Income before income tax 567,300 279,900 Income tax expense 200,600 101,200 Net income $366,700 $178,700 Palmer Corporation…
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[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets 2020 2021 $548,688 $ 420,340 330,310 263,974 218,378 156,366 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 Common stock Other paid-in capital Retained earnings Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income December 31 2021 $ 62,574 % 0 % $ 41,881 $ 55,985 1,200 3,920 114,438 103,962 61,920 $177,012 $ 147,043 $ 121,825 $ 25,844 65,000 8,125…
The following are financial statements of Carla Vista Co.. Carla Vista Co.Income StatementFor the Year Ended December 31, 2022 Net sales $2,247,500 Cost of goods sold 1,018,500 Selling and administrative expenses 901,000 Interest expense 82,000 Income tax expense 75,000 Net income $ 171,000 Carla Vista Co.Balance SheetDecember 31, 2022 Assets Current assets Cash $ 56,300 Debt investments 81,000 Accounts receivable (net) 169,500 Inventory 118,900 Total current assets 425,700 Plant assets (net) 574,000 Total assets $ 999,700 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 161,000 Income taxes payable 37,000 Total current liabilities 198,000 Bonds payable 201,880 Total liabilities 399,880 Stockholders’ equity Common stock 355,000 Retained earnings 244,820…
Financial statements for Askew Industries for 2024 are shown below (in thousands): 2024 Income statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income Assets Cash $ 9,400 (6,400) 3,000 (2,200) (240) (224) $ 336 Bonds payable Common stock Retained earnings Comparative Balance Sheets. Accounts receivable Inventory Property, plant, and equipment (net) Liabilities and Shareholders' Equity Current liabilities December 31 2024 $ 640 640 840 2,400 $ 4,520 $ 1,340 1,600 640 940 $ 4,520 2023 $ 540 440 640 2,500 $4,120 $ 1,090 1,600 640 790 $ 4,220 Required: Calculate the following ratios for 2024 Note: Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.
Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required: What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. P.S- Answer is not 26.48%
Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 152,250 99,300 4,500 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes Income tax expense Net income $ 10,000 Accounts payable Accrued wages payable 9,200 31,400 Income taxes payable 30,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 152,300 Retained earnings $ 236,100 Total liabilities and equity CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 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…
CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 297,150 151,450 98,600 5,000 47,850 19,276 $ 28,574 Cost of goods sold Gross profit Operating expenses Interest expense Profit before taxes Income tax expense Net profit Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Property, plant and equipment, net Total assets Req 1 and 2 Req 3 Req 4 CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity Req 5 8,000 Accounts payable 8,800 Accrued wages payable 32,400 Income taxes payable 2,750 Share capital 150,300 Retained earnings $ 238,400 Total liabilities and equity Complete this question by entering your answers in the tabs below. Compute the current ratio and acid-test ratio. 36,150 Long-term note payable, secured by mortgage on property, plant and equipment Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days'…