Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 560 **=*=* 392 168 112 $39 Ending Beginning Balance Balance $ 30 51 42 426 213 $336 $ 83 216 85 (48) $ 336 $ 35 56 43 400 200 $ 334 $69 260 84 (79) $ 334 Cash dividends were $8. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities for the year was:

Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 560 **== 392 168 112 $39 Ending Beginning Balance Balance $ 30 51 42 426 213 $336 $ 83 216 85 (48) $ 336 $ 35 56 43 400 200 $ 334 $69 260 84 (79) $ 334 Cash dividends were $8. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities for the year was:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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G.84.
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The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Total Assets Current liabilities Long-term liabilities Stockholders' equity-common Total Liabilities and stockholders' equity Sales Cost of goods sold Gross margin Operating expenses Net income Number of shares of common stock Market price of common stock Dividends per share Cash provided by operations Liabilities and Stockholders' Equity Income Statement What is the current ratio for this company? Round your answer to one decimal point. 0.00 Ob.0.80 Oc 1.16 Od 1.42 $ 40,000 25,000 20,000 210.000 $295.000 60,000 85,000 150.000 $295.000 $85.000 45.000 40,000 20.000 5.20.000 6.000000 $20 0.90 $30,000 D
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Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 152,250 99,300 4,500 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes Income tax expense Net income $ 10,000 Accounts payable Accrued wages payable 9,200 31,400 Income taxes payable 30,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 152,300 Retained earnings $ 236,100 Total liabilities and equity CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total…
Hw.24.
Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Total assets Fixed assets Net plant and equipment $336,695 Sales Cost of goods sold Depreciation Taxable income Taxes (22%) Net income SMOLIRA GOLF CORPORATION 2021 Income Statement Earnings before interest and taxes Interest paid Dividends Retained earnings a. Current ratio b. Quick ratio c. Cash ratio Short-term solvency ratios: Asset utilization ratios: d. Total asset turnover e. Inventory tumover 1. Receivables turnover 2020 $23,066 $25,300 13,648 16,400 27,152 28,300 $63,866 $70,000 g. Total debt ratio h. Debt-equity ratio I. Equity multiplier Long-term solvency ratios: Times Interest emned K Cash coverage ratio Profitability ratios: SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 $ 400,561 $ 434,000 1. Profit margin m. Return on assels n. Return on equity $ 364,000 $ 22,000 19,891 Find the following financial ratios for Smolira Golf…
Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Operating activities: Comparative Balance Sheet Income Statement @ 550 D RSA $ 891 Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Thunder Corporation Statement of Cash Flows For This Year Ended December 31 334 $ 116 Santa Ending Balance 72 53 466 206 $ 425 53 $ 425 SER SIS The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase a stock during the year. The company…
What does the vertical analysis reveal on ABC Corporation in terms of Statement of Financial Position
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700…
Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation Taxable income Taxes (22%) Earnings before interest and taxes Interest paid Net income Dividends Retained earnings 2020 $35,585 $38,940 28,846 43,112 18,401 3,970 SMOLIRA GOLF CORPORATION 2021 Income Statement a. Price-earnings ratio b. Dividends per share c. Market-to-book ratio d. PEG ratio SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $57,956 $110,898 $ 465,585 $ 27,000 37,022 Accounts payable Notes payable Other $ 521,433 Total $ 523,541 $ 632,331 Total liabilities and owners' equity Long-term debt times Owners' equity Common stock and paid-in surplus Accumulated retained earnings times times Total $ 512,454 363,528 45,963 $102,963 20,883 $ 82,080 18,058 $ 64,022 Smolira Golf Corporation has 52,000…
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