d) Book value per share
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The following information pertains to Walrus Inc.:
Cash $60,000
Inventory 100,000
Plant assets (net) 430,000
Total assets $760,000
Accounts payable $110,000
Accrued taxes and expenses payable 42,000
Long-term debt 120,000
Common stock ($10 par) 260,000
Paid-in capital in excess of par 50,000
Total equities $760,000
Net sales (all on credit) $2,000,000
Cost of goods sold 1,400,000
Net income 120,000
Required:
Compute the following:
d) Book value per share
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- Data pertaining to the current position of Forte Company follow:Cash $412,500Marketable securities 187,500Accounts and notes receivable (net) 300,000Inventories 700,000Prepaid expenses 50,000Accounts payable 200,000Notes payable (short-term) 250,000Accrued expenses 300,000 Instructions1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios in parts b through j to one decimal place.2. List the following captions on a sheet of paper:Transaction Working Capital Current Ratio Quick Ratio Compute the working capital, the…Marin Company provides you with the following condensed balance sheet information: Assets Current assets $ 41,700 Equity investments 60,000 Equipment (net) 227,600 Intangibles 55,500 Total assets $384,800 Liabilities and Stockholders’ Equity Current and long-term liabilities $96,400 Stockholders’ equity Common stock ($5 par) $ 19,700 Paid-in capital in excess of par 107,300 Retained earnings 161,400 288,400 Total liabilities and stockholders’ equity $384,800 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.)(a) Marin declares and pays a $0.55 per share cash dividend. (1) Total assets $…MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 ASSETS Cash $ 50,000 Accounts receivable 70,000 Inventory 110,000 Net plant and equipment 220,000 Total assets $ 450,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable $ 70,000 Accrued expenses 50,000 Long-term debt 130,000 Common stock 70,000 Paid-in capital 40,000 Retained earnings 90,000 Total liabilities and stockholders’ equity $ 450,000 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Sales (all on credit) $ 875,000 Cost of goods sold 600,000 Gross profit $ 275,000 Sales and administrative expenses 30,000 Depreciation 55,000 Operating profit $ 190,000 Interest expense 25,000 Profit before taxes $ 165,000 Taxes (30%) 49,500 Net income $ 115,500 Refer to the tables above. What is Megaframe Computer's total asset turnover?
- MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash $ 50,000 Accounts receivable 100,000 Inventory 200,000 Net plant and equipment 650,000 Total assets $ 1,000,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable $ 100,000 Accrued expenses 90,000 Long-term debt 250,000 Common stock 100,000 Paid-in capital 50,000 Retained earnings 410,000 Total liabilities and stockholders’ equity $ 1,000,000 MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $ 2,000,000 Cost of goods sold 1,750,000 Gross profit $ 250,000 Sales and administrative expenses 30,000 Fixed lease expenses 10,000 Depreciation 60,000 Operating profit $ 150,000 Interest expense 25,000 Profit before taxes $ 125,000 Taxes (40%) 50,000 Net income $ 75,000 Refer to the tables above. What is Marni's total asset turnover?Lloyd Inc. has sales of $500,000, a net income of $45,000, and the following balance sheet: Cash $133,200 Accounts payable $142,800 Receivables 180,000 Notes payable to bank 90,000 Inventories 612,000 Total current liabilities $232,800 Total current assets $925,200 Long-term debt 158,400 Net fixed assets 274,800 Common equity 808,800 Total assets $1,200,000 Total liabilities and equity $1,200,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2x, without affecting sales or net income. If inventories are sold and not replaced (thus reducing the current ratio to 2x); if the funds generated are used to reduce common equity (stock can be repurchased at book value); and if no other changes occur, by how much will the ROE change? Do not round intermediate calculations. Round your answer to two decimal places. % What will be the firm's new quick ratio? Do not round intermediate calculations. Round…A company has the following balance sheet. What is its total net operating capital? (Round it to a whole dollar, if necessary) Cash $ 20 Accounts payable $ 45 Short-term investments 30 Accruals 50 Accounts receivable 50 Notes payable 10 Inventory 50 Current liabilities xxx Current assets xxx Long-term debt 70 Net fixed assets 100 Common equity 30 Retained earnings xx Total assets $xxx Total liab. & equity $xxx
- Myers Company provides you with the following condensed balance sheet information. Assets 0000 Liabilities and Stockholders’ Equity Current assets $ 40,000 Current and long-term liabilities 00 $100,000 Equity investments 60,000 Stockholders’ equity 00 00 Equipment (net) 250,000 00Common stock ($5 par) $ 20,000 00 Intangibles $160,000 00Paid-in capital in excess of par 110,000 00 00Total assets $410,000 00Retained earnings 0180,000 $310,000 00 00 0000Total liabilities and stockholders’ equity 00 $410,000 Instructions For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.) a. Myers declares and pays a $0.50 per share cash dividend. b. Myers declares and issues a 10% stock dividend when the market price of the stock is $14 per share. c.…The following is the balance sheet of Sameed Brothers Corporation (000s omitted). Sameed Brothers CorporationBalance SheetDecember 31, 2020 Assets Current assets Cash $26,000 Marketable securities 18,000 Accounts receivable 25,000 Inventory 20,000 Supplies 4,000 Stock investment in subsidiary company 20,000 $113,000 Investments Treasury stock 25,000 Property, plant, and equipment Buildings and land 91,000 Less: Reserve for depreciation 31,000 60,000 Other assets Cash surrender value of life insurance 19,000 Total assets $217,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable $22,000 Reserve for income taxes 15,000 Customers' accounts with credit balances 1 $ 37,001 Deferred credits Unamortized premium on bonds payable 2,000 Long-term liabilities Bonds payable 60,000 Total liabilities 99,001 Common…The following summarized balance sheets were prepared for the Gold Company and Mythic Corporation. Gold Mythic Current Assets 350,000 185,000 Land 80,000 25,000 Building, net 250,000 325,000 Goodwill 195,000 100,000 Total Assets 875,000 635,000 Accounts Payable 115,000 85,000 Bonds Payable 170,000 150,000 Common stocks,P10 par 150,000 75,000 APIC…