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…

Answered: Current liabilities: Accounts payoble…

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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Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,500 Notes payable $ 3,000 Accruals $ 1,600 Total current liabilities $ 6,100 Long-term bonds $ 2,000 Total liabilities $ 8,100 Common stock $ 2,000 Retained earnings $ 3,000 Total common equity $ 5,000 Total liabilities & equity $ 13,100 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. Answer is not 6832.
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,000 Notes payable $ 2,500 Accruals $ 1,600 Total current liabilities $ 5,100 Long-term bonds $ 2,000 Total liabilities $ 7,100 Common stock $ 1,000 Retained earnings $ 2,000 Total common equity $ 3,000 Total liabilities & equity $ 10,100 Sales are expected to grow by 10% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. $
Knowledge Check 01 Total Assets for a company are $700,000: Accounts Payable is $75,000, Bonds Payable is $225,000; Common Stock is $300,000 and Retained Earnings is $100,000. The common-size percent for Accounts Payable is 0933% 0933.3% - 10.7% - 100.7%
Presented below are data for Cheyenne Corp. Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan. 1 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income 2025 O $1700. O $2454. O $1150. O $1054. $4220 2520 ? 860 754 Stockholders' Equity at January 1, 2025 is ? 850 2026 $5000 ? ? 637 675 ? 655
The balance sheet of QUIGGE and get the end of the current fiscal year indicated the following bonds payable 8% $1 million preferred $10 stock $100 par 117,000 common stock $13 par 1,026,675 income before and come tax expense was $200,000 in income taxes for $30,350 for the current year cash dividends paid common stock during the current. Your total is $do 47,285 common stock with selling for $20 per share at the end of the year determine each of the following round answers to one decimal place, except for dollar amounts, which should be rounded to the nearest whole cent a. Times interest earned ratio. b. Earnings per share in common stock. c. Price earnings ratio. d. Dividends per share of common stock. e. Dividend yield.
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Joel de Paris, Incorporated Income Statement $ 386,000 978,000 1,192,000 Total liabilities and stockholders' equity $ 2,556,000 Sales Operating expenses Net operating income. Interest and taxes: Interest expense Tax expense Net income Beginning Balance. $ 112,000 197,000 $ 130,000 346,000 563,000 871,000 400,000 246,000 $ 2,556,000 $ 3,860,000 3,242,400 617,600 309,000 $ 308,600 $ Ending Balance $ 139,000 477,000 486,000 848,000 431,000 253,000 2,634,000 $ 341,000 978,000 1,315,000 $ 2,634,000 The company paid dividends of $185,600 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
Total assets Notes payable (6% interest) Common stock Preferred 2.5% stock, $100 par (no change during year) Retained earnings 20Y7 $5,200,000 2,500,000 250,000 Return on total assets December 31 20Y6 $5,000,000 2,500,000 250,000 500,000 1,222,000 500,000 1,574,000 < The 20Y7 net income was $411,000, and the 20Y6 net income was $462,500. No dividends on common stock were declared between 201 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. 20Y7 a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 19.13 % X % 20Y5 $4,800,000 2,500,000 250,000 Return on stockholders' equity Return on common stockholders' equity h The profitability ratios indicate that the company's profitability has deteriorated % 500,000 750,000 20Y6 94.0 X % % % ✓. Because the return on common
Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Blue Corporation Balance Sheets December 31 Net income 2025 $31,000 $21,000 51,000 95,000 60,000 500,000 $86,000 150,000 370,000 $737,000 $612,000 $81,000 325,000 176,000 $737,000 Blue Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 2024 46,000 100.000 2025 75,000 90,000 315,000 $745,000 41,000 704,000 430,000 2023 $19,000 49,000 126,000 114,000 $612,000 $545,000 69,000 2024 50,000 358,000 $545,000 $71,000 55,000 305,000 $605,000 31,000 574,000 355,000 219,000 151,000 274,000 181,000 $93,000 $68,000
The account balances for KinderMorgan Account Title Balance Accounts Payable $8,990 Accounts Receivable, 1/1/22 4,455 Accumulated Depreciation 21,500 Building 65,000 Cash 10,300 45,000 Common Stock Delivery Truck Depreciation Expense Dividends 9,700 4.210 2,100 Marketable Equity Securities 3,400 Accounts Receivable, 12/31/22 5.250 Determine the Debt to Equity Ratio: 0.1114 0.1694 0.2101 0.1482 O 0.1783 are listed below. All balances are as of December 31, 2022, except where noted: Account Title Balance Inventory, 1/1/22 $2,040 Supplies 7,500 Salaries Expense 11,250 54,005 7,850 Retained Earnings, 1/1/22 23,480 Equipment 15,700 Prepaid Expenses 2,600 Cost of Goods Sold 16,350 Notes Payable (due 2024) 5.400 Inventory, 12/31/22 3,660 Net Revenue Rent Expense
View Policies Current Attempt in Progress Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $31500 Net income $41100 Stockholders' Current liabilities 15400 79400 equity Average assets 162500 Total liabilities 42300 Total assets 114000 Average common shares outstanding was 15500. 37 percent O 70 percent O 15 percent O 28 percent Attempts: 0 of 1 used Save for Later
The following data are provided: December 31 2021 2020 Cash $ 1300000 $ 1005000 Accounts receivable (net) 1500000 1150000 Inventories 2600000 2100000 Plant assets (net) 6000000 6600000 Accounts payable 1150000 820000 Income taxes payable 220000 90000 Bonds payable 1400000 1400000 10% Preferred stock, $50 par 1800000 1800000 Common stock, $10 par 2300000 1700000 Paid-in capital in excess of par 1650000 1400000 Retained earnings 4100000 3400000 Net credit sales 12800000 Cost of goods sold 8500000 Operating expenses 2900000 Net income 1600000 Additional information:Depreciation included in cost of goods sold and operating expenses is $1200000. On May 1, 2021, 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.At December 31, 2021,…
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $618,000 $300,000 Current maturities of serial bonds payable 550,000 550,000 Serial bonds payable, 10% 2,480,000 3,030,000 Common stock, $1 par value 90,000 120,000 Paid-in capital in excess of par 1,000,000 1,010,000 Retained earnings 3,470,000 2,750,000 The income before income tax expense was $757,500 and $662,800 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Prior year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Prior year fill in the blank 4 c. The ratio of liabilities to stockholders' equity have improved and the…

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