This is part a and b please answer both Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:20212020Accounts receivable$ 88,000 $ 82,000Inventory90,00078,000Net sales430,000383,000Cost of goods sold264,000225,000Total assets830,000790,000Total stockholders' equity500,000420,000Net income77,00055,000TPX Company's 2021 profit margin is: (Round your answer to 1 decimal place.)Multiple Choice1.5%.9.5%. Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:1120212020Accounts receivable$ 88,000$ 80,000Inventory89,00078,000Net sales500,000384,000eBookCost of goods sold260,000222,000Total assets820,000760,000Total stockholders' equity515,000420,000Net income78,00059,000TPX Company's 2021 return on assets is: (Round your answer to 1 decimal place.)Multiple Choice9.9%.0.3%.

Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 88,000 $ 82,000 Inventory 90,000 78,000 Net sales 430,000 383,000 Cost of goods sold 264,000 225,000 Total assets 830,000 790, ее0 Total stockholders' equity 500,000 420,000

Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 88,000 $ 82,000 Inventory 90,000 78,000 Net sales 430,000 383,000 Cost of goods sold 264,000 225,000 Total assets 830,000 790, ее0 Total stockholders' equity 500,000 420,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.1C: Leverage Cook Corporation issued financial statements at December 31, 2019, that include the...

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Leverage Cook Corporation issued financial statements at December 31, 2019, that include the following information: Balance sheet at December 31,2019 Assets $8,000,000 Liabilities $1,200,000 Stockholders' equity (300,000 shares) $6,800,000 Income statement for 2019: Income from operations $1,200,000 Less: Interest expense (100,000) Income before taxes $1,100,000 Less: Income taxes expense (0,30) (330,000) Net income $ 770,000 The levels of assets, liabilities, stockholders' equity, and operating income have been stable in recent years; however, Cook Corporation is planning a 51,800,000 expansion program that will increase income from operations by $350,000 to $1,550,000, Cook is planning to sell 8.5% notes at par to finance the expansion. Required: What earnings per share does Cook report before the expansion?
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $…
Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing CorporationBalance Sheet 2020 2019 ASSETS Cash $41,847 $50,643 Accts. receivable 261,201 201,804 Inventory 504,430 450,954 Total current assets 807,478 703,401 Fixed assets, net 400,000 300,000 Total assets $1,207,478 $1,003,401 LIABILITIES AND EQUITY Accts. payable $170,208 $134,265 Bank loan 91,242 91,242 Accruals 70,000 50,000 Total current liabilities 331,450 275,507 Long-term debt, 12% 392,625 293,723 Common stock, $10 par 300,000 300,000 Capital surplus 48,173 48,173 Retained earnings 135,230 85,998 Total liabilities & equity $1,207,478 $1,003,401 Genatron Manufacturing CorporationIncome Statement 2020 2019…
CASE STUDY INFORMATION: The following information has been extracted from the accounting records of Lubners Limited on 31 December 2020. 2020 2019 Dr Cr Dr Cr Ordinary share capital 1728 000 1728 000 Non-current assets 3 462 964 2910206 inventories 665 856 584 640 Accounts payable Accounts receivable cash Retained earnings ( 1 Jan) Long term Loan 311 328 290 304 832 608 800 064 338 688 362 304 244 276 1 090 944 809 568 932 256 Other Current liabilities 1 057 824 Total Sales (80% credit sales) Cost of sales (80% credit purchases) 4 816 512 4 535 424 2 530 656 2 340 288 Interest income 7776 9 504 taxation 207 009 192 159 Selling and admin expenses 1 141 344 1 069 056 Interest expenses Other expenses 149 161 174 551 263 808 274 752 REQUIRED: QUESTION 1 (25) Compile the Statement of Comprehensive Income for the year ended 31 December 2020. (with 2019 comparative figures) QUESTION 2 (25) Compile the Statement of Financial Position as at 31 December 2020. (with 2019 comparative figures)
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $45,000 $37,000 Inventory 29,000 39,000 Net sales 196,000 189,000 Cost of goods sold 124,000 118,000 Total assets 432,000 410,000 Total stockholders' equity 243,000 232,000 Net income 37,000 37,000 TPX Company's 2021 debt to equity ratio is: Multiple Choice 15.23%. 8.79%. 30.58%. 77.78%.
Xyz tradingCondensed comparative balance sheet 2021 2020 2019Assets:Current assets 468,000. 345,600. 300,000Property and equipment 600,000. 560,400. 500,400Other assets(advances ). 72,000. 126,000. 150,000Total assets. 1,140,000. 1,032,000. 950,400Liabilities and stockholders’ equityLiabilitiesCurrent liabilities 134,400. 112,800. 100,00012 % long-term notes payable. 240,000. 300,000 350,000Total liabilities. 374,400. 412,800. 450,000Stockholders’ equity10% preferred stock 120,000. 120,000. 120,000Common stock 300,000 240,000 200,000Additional paid in capital 84,000. 48,000 40,000Retained earnings…
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $82,000 $68,000 Inventory 91,000 77,000 Net sales (all credit) 460,000 383,000 Cost of goods sold 256,000 225,000 Total assets 830,000 775,000 Total stockholders' equity 475,000 445,000 Net income 70,000 57,000 TPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.) Multiple Choice 5.6 times. 0.2 times. 1.0 times. 6.1 times.
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 Net plant and equipment $240,750 $310,600 a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio $8,850 $14,200 15,750 23,000 34,650 52,200 $ 59,250 $89,400 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 300,000 400,000 2020 times times times % times times times times Liabilities and Owners' Equity Current liabilities 2021 Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for…
What is Ratio Corporation's Fiscal 2021 Times Interest Earned Ratio? 1.41 2.57 4.5 1.63
You have compiled the following information on Winslow, Inc.: 2019 2020 Assets Cash $ 298 $ 306 Accounts receivable 3,006 3,422 Inventory 5,210 5,650 Net fixed assets 32,780 36,400 Total assets $ 41,294 $ 45,778 Liabilities and Equity Accounts payable $ 6,219 $ 6,184 Other current liabilities 1,880 1,625 Long-term debt 17,951 21,991 Stockholders’ equity 15,244 15,978 Total liabilities and equity $ 41,294 $ 45,778 Sales $ 11,418 Cost of goods sold 6,320 General and administrative 2,419 Depreciation 967 EBIT $ 1,712 Interest 230 EBT $ 1,482 Taxes 519 Net income $ 963 What is the cash flow to creditors for 2020?
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.