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 sive Problem 2-St of Cash Flows and Ratios Algo iSived$13$12share, common stockCash Flowsfrom OperHoriz Analysis Horiz AnalysisVertic Analysis Vertic AnalysisBal SheetRatiosInc StBal StInc StRequirement Prepare a vertical analysis on the partial balance sheet for 2017 and 2018.C. Klein Inc.Partial Balance Sheet (Vertical analysis)For the years ended December 31, 2018 and 2017Liabilities20182017Current liabilities:Accounts payableAccrued liabilitiesIncome taxes payableTotal current liabilitiesNotes payable236,000175,000Total liabilitiesStockholders' EquityCommon stock, $5 parAdditional paid-in capitalRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equityRatios >< Vertic Analysis Inc StPrev1 of 1e here to search99+DELL

Under vertical analysis of balance sheet , each item in a balance sheet is shown as a percentage of…

Current liabilities: Accounts payoble $25,500 $26,000 S-500 Accrued liabilities 2,400 500 28,400 2,000 400 Income taxes payable 2000 -1.500 Total current liabilities 30,000 -1,600 Long term liabilities: Notes Payable 236,000 175,000 61,000 Total liabilities 264.400 205.000 59,400 Stockholders' equity Common stock, $5 par value 110,000 110,000 Additional paid-in capital 28,000 28,000 Retained earnings 30,270 23.000 7.270 Total stockholders' equity Total liabilities and atockholders' equity 168,270 161,000 7,270 $432.670 $366,000 $66,670

Current liabilities: Accounts payoble $25,500 $26,000 S-500 Accrued liabilities 2,400 500 28,400 2,000 400 Income taxes payable 2000 -1.500 Total current liabilities 30,000 -1,600 Long term liabilities: Notes Payable 236,000 175,000 61,000 Total liabilities 264.400 205.000 59,400 Stockholders' equity Common stock, $5 par value 110,000 110,000 Additional paid-in capital 28,000 28,000 Retained earnings 30,270 23.000 7.270 Total stockholders' equity Total liabilities and atockholders' equity 168,270 161,000 7,270 $432.670 $366,000 $66,670

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.2DC

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