Ellison Corporation compiled the following financial information as of December 31, 2015: Sales Common stock Equipment Expenses Cash $180,000 40,000 50,000 150,000 45,000 Dividends 12,000 Inventory 8,000 Accounts payable 25,000 Accounts receivable 18,000 Retained earnings, 1/1/15 85,000 Ellison Corporation's total assets on December 31, 2015, are
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- HCB, Inc.'s financial partial statements are shown below. HCB Income Statement 2021 Sales 2,000.0 Assets 2021 Cash 86.0 Accounts receivable 360.0 Inventory 320.0 Short-term investments 223.0 Total current assets 989.0 Net fixed assets 1,940.0 Total assets 2,929.0 Liabilities and equity 2021 Accounts payable 200.0 Accruals 240.0 Short-term debt 292.9 Total current liabilities 732.9 Long-term debt 1,757.4 Total liabilities 2,490.3 Par + paid in capital less treasury 238.7 Retained earnings 200.0…Selected comparative statement data for Oriole Company are presented below. All balance sheet data are as of December 31. 20222021Net sales$1,165,000 $1,125,000Cost of goods sold705,000 645,000Interest expense20,000 15,000Net income154,945 145,000Accounts receivable145,000 125,000Inventory105,000 100,000Total assets785,000 700,000Preferred stock (6%)205,000 200,000Total stockholders’ equity635,000 525,000 Compute the following ratios for 2022. (Round answers to 1 decimal place, e.g. 1.8 or 2.5%) (a)Profit marginenter the profit margin in percentages %(b)Asset turnoverenter the asset turnover in times times(c)Return on assetsenter the return on assets in percentages %(d)Return on common stockholders’ equityenter the return on common stockholders' equity in percentages %Selected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23
- The following balance sheets were reported on January 1, 2014, for Peach Company and Stream Company: Peach Stream Cash $103,800 $19,410 Inventory 303,700 98,100 Equipment (net) 946,730 416,580 Total $1,354,230 534,090 Total Liabilities $321,800 $104,000 Common stock, $20 par value 406,600 190,300 Other contributed capital 269,700 71,160 Retained earnings 356,130 168,630 Total $1,354,230 $534,090 Appraisals reveal that the inventory has a fair value of $124,020, and the equipment has a current value of $453,380. The book value and fair value of liabilities are the same. Assuming that Peach Company wishes to acquire Stream for cash in an asset acquisition, determine the following cutoff amounts: (a) The purchase price above which Peach would record goodwill. Purchase price $perating data for Navarro Corporation are presented below. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Instructions December 31, 2017 $125,000 396,000 91,000 133,000 161,000 136,000 December 31, 2016 $100,000 330,000 70,000 95,000 115,000 150,000 Prepare horizontal and vertical analyses. (LO 1) Prepare a schedule showing a vertical analysis for 2017 and 2016. E18-3 The comparative condensed balance sheets of Gurley CorporationThe following financial statement information is available for XYZ Corporation: Inventory Current assets P 44,000 80,000 432,000 Current liabilities 25,000 Total liabilities 102,000 Total assets The current ratio for 2022 O 4.24:1 O 4.07:1 2022 O 2.94:1 O 3.2:1 2021 P 43,000 106,000 358,000 36,000 88,000
- General AccountingComparative financial statement data for Culver Corporation and Flint Corporation, 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 Culver Corporation 2022 $2,412,000 1.574,500 379,220 9,080 114,000 488,950 710,050 88,900 138,910 184,920 120,600 48,240 80,000 Flint Corporation 2022 $830,800 455,600 131,320 3,140 48,240 198,880 185,020 45,200 31.580 48,240 26,800 20,100 50,000Here are the comparative condensed income statements of Cheyenne Corporation. CHEYENNE CORPORATIONCondensed Income StatementsFor the Years Ended December 31 2022 2021 Net sales $588,000 $490,000 Cost of goods sold 474,516 416,010 Gross profit 113,484 73,990 Operating expenses 80,556 44,100 Net income $ 32,928 $ 29,890 (a)Prepare a horizontal analysis of the income statement data for Cheyenne Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) CHEYENNE CORPORATIONCondensed Income Statementschoose the accounting period Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $588,000 $490,000 $enter a dollar amount enter…
- The following amounts were taken from the financial statements of Concord Corporation: 2017 2016 Total assets $818000 $1020000 Net sales 726000 655000 Gross profit 376000 332000 Net income 118000 130000 Weighted average number of 90200 80000 common shares outstanding Market price of common stock $42 $36 The return on assets for 2017 is 12%. 13%. 14%. 6%.(Comprehensive Income) Roxanne Carter Corporation reported the following for 2017: net sales $1,200,000, cost of goods sold $750,000, selling and administrative expenses $320,000, and an unrealized holding gain on available-for-sale securities $18,000. InstructionsPrepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and earnings per share.)Here are comparative financial statement data for Sheridan Company and Pina Company, two competitors. All data are as of December 31, 2025, and December 31, 2024. 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 Sheridan Company 2025 $1,874,000 1,069,000 266,000 8,100 71,600 488,963 $468,615 750,000 113,723 135,000 750,000 219,892 790,200 99,488 170,985 750,000 2024 258,690 Pina Company 2025 $563,000 281,000 91,000 2,500 35,000 125,004 209,592 53,022 44,430 180,000 57,144 2024 $119,201 188,718 45,422 37,500 180,000 44,997
