Please do not give solution in image format thanku Income Statement Data for Calendar Year 2014Sales RevenueCost of Goods SoldGross ProfitExpenses:Depreciation ExpenseSalaries ExpenseInterest ExpenseRent ExpenseBad Debt ExpenseNet Income$1.350.000OC.$869,000OD. None of the above1,600,000(980.000)620,000(150,000)(350,000)(40,000)(98,000)(12.000)$(30,000)$1,400,000How much cash did Johnston pay to suppliers of merchandize in 2014?OA $954,000OB. $895,000 QUESTION 2Selected financial statement information for Johnston Enterprises is presented belowBalance Sheet DataCashAccounts ReceivableLess: Allowance for Bad DebtsPrepaid RentInventoryProperty, Plant, and EquipmentLess Accumulated DepreciationTotal AssetsUnearned RevenueAccounts Payable (merchandise suppliers)Bank LoanCommon StockRetained EarningsTotal Liabilities & Stockholders' EquityIncome Statement Data for Calendar Year 2014Salee De...December 31, December 31,20132014$104,000246,000(27,000)15,000332,0001,122,000(442,000)$1.350.00050,000$102,000391,000467,000340,000$1,350,000$36,000178,000(32,000)42,000391,0001,377,000(592,000)$1.400.00053,000$187,000350,000510,000300,000$1.400.000

Cost of goods sold is actual cost of goods that are sold to customers. Cash paid to suppliers means…

DIOCATIONICTs Equity Income Statement Data for Calendar Year 2014 Sales Revenue Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries Expense Interest Expense Rent Expense Bad Debt Expense Net Income $1,350.000 OC$869,000 OD. None of the above 1,600,000 (980.000) 620,000 (150,000) (350,000) (40,000) (98,000) (12.000) $(30,000) $1,400,000 How much cash did Johnston pay to suppliers of merchandize in 2014? OA $954,000 OB. $895,000

DIOCATIONICTs Equity Income Statement Data for Calendar Year 2014 Sales Revenue Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries Expense Interest Expense Rent Expense Bad Debt Expense Net Income $1,350.000 OC$869,000 OD. None of the above 1,600,000 (980.000) 620,000 (150,000) (350,000) (40,000) (98,000) (12.000) $(30,000) $1,400,000 How much cash did Johnston pay to suppliers of merchandize in 2014? OA $954,000 OB. $895,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 92PSA: A Preparation of Ratios Refer to the financial statements for Burch Industries in Problem 12-89A and...

See similar textbooks

Similar questions

Comparable balance sheets are presented below:Dec. 31, 2015 Dec. 31, 2014AssetsCash 1.2 1.9Accounts Receivable 0.4 0.3Inventory 1.3 1.0Property, Plant & Equipmen 6.0 3.0Less: Accumulated Depreciation (0.8) (0.4)8.1 5.8Liabilities & Stockholder's EquityAccounts Payable 2.6 2.1Dividends Payable - -Bonds Payable 4.4 2.8Common Stock, $1 Par Value 0.2 0.1Paid-in Capital in Excess of Par Value 3.2 2.2Retained Earnings (2.3) (1.4)8.1 5.8Additional Information:1. The change in PP&E represent cash expenditures for a new factory2. There were no disposals of PP&E during the year3. There were no dividends declared during the year4. The common stock was issued for cash5. A review of the income statement noted a gross profit margin of 20% and Research & Development costs of $0.7 for the yearRequired:1. Prepare a statement of cash flows using the indirect method2. Is the operating cash flow sustainable?3. What are the major sources and uses of cash?4. How are the operations being…
Comparable balance sheets are presented below:Dec. 31, 2015 Dec. 31, 2014AssetsCash 1.2 1.9Accounts Receivable 0.4 0.3Inventory 1.3 1.0Property, Plant & Equipmen 6.0 3.0Less: Accumulated Depreciation (0.8) (0.4)8.1 5.8Liabilities & Stockholder's EquityAccounts Payable 2.6 2.1Dividends Payable - -Bonds Payable 4.4 2.8Common Stock, $1 Par Value 0.2 0.1Paid-in Capital in Excess of Par Value 3.2 2.2Retained Earnings (2.3) (1.4)8.1 5.8Additional Information:1. The change in PP&E represent cash expenditures for a new factory2. There were no disposals of PP&E during the year3. There were no dividends declared during the year4. The common stock was issued for cash5. A review of the income statement noted a gross profit margin of 20% and Research & Development costs of $0.7 for the yearRequired:1. Prepare a statement of cash flows using the indirect method ANSWER : Net Profit (0.90) WHY IS THE NET PROFIT .90 PLEASE EXPLAIN
How to calculate gross profit percentage will be mItaned
please dont provide answer in image format thank you
Calculate the following ratios from the income statement and balance sheet all are required 1-Equity Turnover 2-Gross Profit Margin 3-Operating Profit Margin 4-Net Profit Margin 5-ROA 6- ROE Statement of financial position as at 31 December 2018 2018 2017 Note RO RO ASSETS Non-current assets Property, plant and equipment 14 8,407,572 9,300,442 Deferred tax assets 12 40,977 18,550 8,448,549 9,318,992 Current assets Inventories 15 430,885 422,421 Trade and other receivables 16 1,129,440 1,235,724 Due from related parties 24 70,300 73,050 Cash and bank balances 17 6,856,734 6,439,709 Total current assets 8,487,359 8,170,904 Total assets 16,935,908 17,489,896 EQUITY…
Compute and analyse the trend analysis of the company. attached the Income statement and balance sheet
Calculate following ratios If you are not able to calculate with the given the information shown, indicate what is missing. After calculating each ratio indicate whether the trend from 2017 to 2018 is good or bad and why. Year 2018 Year 2017 Net Profit Margin Total Asset turnover Debt to Tangible Net Worth Ratio Operating Cash Flow / Total Debt
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 900s) Less: Treasury stock DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 800s) Revenues Sales revenue Dividend revenue Expenses Cost of goods sold. Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense Net income $325 9 $334 134 39 33 1 22 6 31 266…
Analyze the financial statements of the company to you in terms of: 1. Debt Management Ratio * TIE Ratio or Time Interest Earned Ratio 2. Asset Management Ratio *Inventory Turnover Ratio *Fixed Asset Turnover Ratio *Total Asset Turnover Ratio 2020 Analysis BUT also compare with 2018 - 2019. Show solution on computaion.
Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…
Prepare a financial statement analysis in terms of liquidity, solvency, profitability and efficiency of the following company. Financial Ratios Fiscal Year Ended Previous Fiscal Year Formula Dec 31, 2019 Dec 31, 2018 Liquidity Analysis Ratios: Current Assets / Current Liabilities Current Ratio or 1.46 1.36 Working Capital Ratio (Current Assets - Inventory - Prepayments) / Current Liabilities Quick Ratio 0.96 0.86 Solvency Ratio Total Assets / Total Liabilities 1.46 1.44 Financial Leverage Ratios Debt Ratio Total Debt/Total Assets 0.47 0.48 Total Debt/Total Stockholders Equity Debt-to-Equity Ratio 1.48 1.57 Earnings Before Interest and Taxes (EBIT) / Interest Charges Total Assets / Total Stockholders' Equity Interest Coverage 2.38 2.61 Asset to Equity Ratio 3.16 3.28 Profitability Ratios Gross Profit Margin Sales - Cost of Goods Sold or Cost of Service / Sales 19.76 19.43 Net Profit Margin Net Profit / Sales 11.34 11.42 Net Income / Total Assets 2.67 2.9 Return on Assets Net Income /…
Subject : Accounting