Financial Accounting: Consider the following information for Lals Stores for 2021 and 2022: 2021 2022 Total assets $59,700,000 $56,200,000 Noninterest-bearing current liabilities 4,480,000 4,970,000 Net income 3,620,000 4,900,000 Interest expense 2,410,000 2,970,000 Sales 66,000,000 96,250,000 Tax rate 40% 40% Compute ROI for both years.
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- The financial statements for Barrington Service Company include the following items: 2025 2024 $44,500 33,000 52,000 Cash Short-term Investments Net Accounts Receivable. Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable OA. 0.86 OB. 6.60 OC. 3.82 OD. 1.17 164,000 535,000 126,500 24,000 61,000 $44,000 20,000 56,000 49,000 554,000 128,000 17,000 50,000Comprehensive Problem Happy Hearts Company provided the following statements of financial position at year-end and other financial data relating to activities during the current year 2021 2020 200,000 1,040,000 600,000 1,100,000 150,000 1,200,000 110,000 300,000 3,400,000 (900,000) Cash and cash equivalents Accounts receivable, net of allowance Trade notes payable Inventory Prepaid expenses Investment in equity securities, at cost Property, plant and equipment Accumulated depreciation 200,000 1,360,000 120,000 500,000 2,000,000 (600,000) Patent 80.000 4.900.000 Total 5.960.000 Accounts payable Trade notes payable Accrued expenses 880,000 60,000 100,000 400,000 3,000,000 530,000 990,000 840,000 240,000 330,000 Notes payable (short-term debt) Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 2,400,000 400,000 790,000 (100,000) 4.900.000 Total 5.960.000 The statement of retained earnings for the year ended December 31, 2021 showed the following Retained…Need help filling in the blank area's
- Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners' Equity 2020 2021 Current assets Current liabilities Cash $ 10, 620 $ 13, 275 Accounts payable $ 52, 560 $ 60, 750 Accounts receivable 21,420 29, 925 Notes payable 19, 260 24,075 Inventory 67, 860 82, 575 Total $ 99,900 $ 125, 775 Total $ 71,820 $ 84, 825 Long-term debt $ 36,000 $ 27,000 Owners' equity Common stock and paid - in surplus $ 45,000 $ 45,000 Retained earnings 207, 180 293, 175 Net plant and equipment $ 260, 100 $ 324, 225 Total $ 252, 180 $ 338, 175 Total assets $ 360,000 $ 450,000 Total liabilities and owners' equity $ 360,000 $ 450,000 For each account on this company's balance sheet, show the change in the account during 2021 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter…Ratio Analysis Consider the following information taken from GER's financial statements: September 30(in thousands) 2020 2019 Current assets: Cash and cash equivalents $1,274 $6,450 Receivables 30,071 16,548 Inventories 31,796 14,072 Other current assets 4,818 2,620 Total current assets $67,959 $39,690 Current liabilities: Current portion of long-term debt $97 $3,530 Accounts payable 23,124 11,228 Accrued compensation costs 5,606 1,929 Accrued expenses 9,108 5,054 Other current liabilities 874 777 Total current liabilities $38,809 $22,518 Also, GER's operating cash flows were $11,255 and $13,736 in 2020 and 2019, respectively. 4. Calculate the operating cash flow ratios for 2020 and 2019. Operating Cash Flow Ratio 2020 fill in the blank 7 2019 fill in the blank 8The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…
- Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,200 $1,845Accounts receivable, net 3,450 3,180Inventories 2,639 3,042Other current assets 1,872 1,549Total current assets $11,161 $9,616Current liabilities $4,853 $5,893 (a)Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million (b)The parts of this question must be completed in order. This part will be available when you complete the part above.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 $…Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,180 $1,836Accounts receivable, net 3,600 3,180Inventories 2,738 3,019Other current assets 1,932 1,590Total current assets $11,450 $9,625Current liabilities $4,830 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million Link to Text
- Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31 2020 2019 Cash $ 16,350 $ 32,700 Accounts receivable (net) 76,300 65,400 Inventory 65,400 54,500 Plant assets (net) 218,000 196,200 $376,050 $348,800 Accounts payable $ 54,500 $ 65,400 Mortgage payable (15%) 109,000 109,000 Common stock, $10 par 152,600 130,800 Retained earnings 59,950 43,600 $376,050 $348,800 Additional information for 2020: 1. Net income was $34,000. 2. Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $200,600. 4. Net cash provided by operating activities was $59,000. 5. Capital expenditures were $26,400, and cash dividends were $16,500. Compute the following ratios at December 31, 2020. (Round current ratio and inventory turnover to 2 decimal places, e.g.…Calculate the following Ratio: Current ratio Liquid RatioCarla Vista Co. has these comparative balance sheet data: CARLA VISTA CO.Balance SheetsDecember 31 2020 2019 Cash $ 16,140 $ 32,280 Accounts receivable (net) 75,320 64,560 Inventory 64,560 53,800 Plant assets (net) 215,200 193,680 $371,220 $344,320 Accounts payable $ 53,800 $ 64,560 Mortgage payable (15%) 107,600 107,600 Common stock, $10 par 150,640 129,120 Retained earnings 59,180 43,040 $371,220 $344,320 Additional information for 2020: 1. Net income was $32,500. 2. Sales on account were $392,900. Sales returns and allowances amounted to $27,300. 3. Cost of goods sold was $217,300. 4. Net cash provided by operating activities was $57,200. 5. Capital expenditures were $30,000, and cash dividends were $19,000. Compute the following ratios at December 31, 2020. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83…
