Homework Help is Here – Start Your Trial Now!
Business
Accounting
Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from Five Below for its fiscal year ended February 2, 2019 ($ thousands). Noncash assets, end of year $615,094 (5,582) Cash from investing activities Cash, end of year $700,516 Stockholders' equity, end of year (39,472) Cash from financing activities 251,748 Total assets, beginning of year 337,170 Cost of goods sold (COGS) 695,708 Total liabilities, end of year 994,478 Revenue 1,559,563 Cash, beginning of year 112,669 Stockholders' equity, beginning of year 458,558 Total expenses, other than COGS and income tax 373,278 Cash from operating activities 42,162 184,133 Income tax expense Required a. Prepare the income statement for the year ended February 2, 2019. Note: Do not use negative signs with any of your answers. Five Below Income Statement ($ thousands) For the year ended February 2, 2019 $ Revenues Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income + Cash Noncash assets Total assets : • + • ÷ $ b. Prepare the balance sheet as of February 2, 2019. Five Below Balance Sheet ($ thousands) February 2, 2019 $ + $ ● Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.

Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from Five Below for its fiscal year ended February 2, 2019 ($ thousands). Noncash assets, end of year $615,094 (5,582) Cash from investing activities Cash, end of year $700,516 Stockholders' equity, end of year (39,472) Cash from financing activities 251,748 Total assets, beginning of year 337,170 Cost of goods sold (COGS) 695,708 Total liabilities, end of year 994,478 Revenue 1,559,563 Cash, beginning of year 112,669 Stockholders' equity, beginning of year 458,558 Total expenses, other than COGS and income tax 373,278 Cash from operating activities 42,162 184,133 Income tax expense Required a. Prepare the income statement for the year ended February 2, 2019. Note: Do not use negative signs with any of your answers. Five Below Income Statement ($ thousands) For the year ended February 2, 2019 $ Revenues Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income + Cash Noncash assets Total assets : • + • ÷ $ b. Prepare the balance sheet as of February 2, 2019. Five Below Balance Sheet ($ thousands) February 2, 2019 $ + $ ● Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Cash Noncash assets Total assets Cash from investing activities Cash from financing activities Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ ROA PM AT ROE Balance sneet (> thousands) February 2, 2019 ♦ $ d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). g. Compute ROE. Previous % % c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. ◆ → ◆ % $ Notes: Round ROA, PM, & ROE to one decimal place (ex: 10.5%) Round Asset turnover to two decimal places (0.33) $ ¶ Save Answers ◆ ◆ $ +A $
Transcribed Image Text:Cash Noncash assets Total assets Cash from investing activities Cash from financing activities Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ ROA PM AT ROE Balance sneet (> thousands) February 2, 2019 ♦ $ d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). g. Compute ROE. Previous % % c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. ◆ → ◆ % $ Notes: Round ROA, PM, & ROE to one decimal place (ex: 10.5%) Round Asset turnover to two decimal places (0.33) $ ¶ Save Answers ◆ ◆ $ +A $
Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from Five Below for its fiscal year ended February 2, 2019 ($ thousands). Noncash assets, end of year $615,094 $700,516 Stockholders' equity, end of year (39,472) Cash from financing activities Cash from investing activities (5,582) Cash, end of year 251,748 Total assets, beginning of year 695,708 337,170 Cost of goods sold (COGS) 994,478 Total liabilities, end of year Revenue 1,559,563 Cash, beginning of year 112,669 373,278 458,558 Total expenses, other than COGS and income tax 184,133 Income tax expense 42,162 Stockholders' equity, beginning of year Cash from operating activities Required a. Prepare the income statement for the year ended February 2, 2019. Note: Do not use negative signs with any of your answers. Five Below Income Statement ($ thousands) For the year ended February 2, 2019 $ Revenues Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income → Cash Noncash assets Total assets ¶¶¶¶¶¶ ◆ → $ b. Prepare the balance sheet as of February 2, 2019. Five Below Balance Sheet ($ thousands) February 2, 2019 ♦ $ → $ ◆ Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ < D $ +A $ c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.
Transcribed Image Text:Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from Five Below for its fiscal year ended February 2, 2019 ($ thousands). Noncash assets, end of year $615,094 $700,516 Stockholders' equity, end of year (39,472) Cash from financing activities Cash from investing activities (5,582) Cash, end of year 251,748 Total assets, beginning of year 695,708 337,170 Cost of goods sold (COGS) 994,478 Total liabilities, end of year Revenue 1,559,563 Cash, beginning of year 112,669 373,278 458,558 Total expenses, other than COGS and income tax 184,133 Income tax expense 42,162 Stockholders' equity, beginning of year Cash from operating activities Required a. Prepare the income statement for the year ended February 2, 2019. Note: Do not use negative signs with any of your answers. Five Below Income Statement ($ thousands) For the year ended February 2, 2019 $ Revenues Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income → Cash Noncash assets Total assets ¶¶¶¶¶¶ ◆ → $ b. Prepare the balance sheet as of February 2, 2019. Five Below Balance Sheet ($ thousands) February 2, 2019 ♦ $ → $ ◆ Five Below Statement of Cash Flow ($ thousands) For the year ended February 2, 2019 $ < D $ +A $ c. Prepare the statement of cash flows for the year ended February 2, 2019. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS