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- A company had total assets of $39,946 and total liabilities of $30,624. Calculate its debt ratio. Be sure to show workPlease do not give solution in image format thankuRequired Information [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit 2021 $ 85,600 36,800 77,100 4,700 204, 200 94,700 (14,700) $ 284,200 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 1. Cash paid for inventory 2. Cash paid for operating expenses $ 13,400 8,000 1,400 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 22,800 28,900 51,700…
- The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $39,569 Accounts receivable (net) 29,417 Merchandise inventory 30,907 Property, plant, and equipment 219,211 Total assets $319,104 Liabilities and Stockholders' Equity Current liabilities $66,051 Long-term liabilities 93,607 Stockholders' equity—common 159,446 Total liabilities and stockholders' equity $319,104 Income Statement Sales $93,952 Cost of merchandise sold (37,581) Gross profit $56,371 Operating expenses (26,268) Interest expense (4,698) Net income $25,405 Number of shares of common stock outstanding 6,014 Market price per share of common stock $31 Total dividends paid $8,800 Net cash flows from operating activities…Preparing an income statement) Prepare an income statement and a common-sized income statement from the following information. Click on the following icon in order to copy its contents into a spreadsheet.) Sales Cost of goods sold General and administrative expense Depreciation expense Interest expense Income taxes Complete the income statement below. (Round to the nearest dollar. NOTE: You may input expense acc as negative values.) Income Statement Gross profits Total operating expenses Operating income (EBIT) Earnings before taxes Net income $525,863 199,246 60,236 8,305 11,860 98,486 $ SSRequired Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) ALLENDALE COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount % Total Amount % Total Revenues Sales (net) $ 230,000 100.00 % $ 210,000 100.00 % Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expense 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income $ 32,000 % $ 32,800 %
- 1.) Solve the Income Statement of AAA Company using Horizontal Analysis. 2.) As a Financial Analyst how would you interpret the data?Sub : AccountingPls answer very fast.I ll upvote correct answer. Thank You Financial information for Sigma Company is presented below. Calculate the following ratios for Year 2.(a) Inventory turnover.(b) Accounts receivable turnover.(c) Return on total assets.(d) Times interest earned.(e) Total asset turnover. Year 2 Year 1 Assets: Cash $ 18,000 $ 22,000 Marketable securities 25,000 0 Accounts receivable 38,000 42,000 Inventory 61,000 52,000 Prepaid insurance 6,000 9,000 Long-term investments 49,000 20,000 Plant assets, net 218,000 225,000 Total assets $ 415,000 $ 370,000 Net income after interest expense and taxes $ 62,250 Sales (all on credit) 305,000 Cost of goods sold 123,000 Interest expense 15,600 Income tax expense 27,000Balance Sheet Prepare a horizontal analysis of the balance sheet for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (1.e., .234 should be entered as 23.4). Assets Current assets Cash Income Statement Marketable securities Accounts receivable (net) Inventories Prepaid Items Total current assets Investments Plant (net) Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Terlam Notes payable Accounts payable Salaries payable Total current liabilites Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total abilities Stockholders' equity FRANKLIN COMPANY Horizontal Analysis of Balance Sheets Preferred stock (par value $10, 4% cumulative, nonparticipating: 6,300 shares authorized and issued) EMAIA Common stock (no par; 50,000 shares authorized, 10,000 shares issued) Retained earnings Total stockholders' equity Total habilities & stockholders equity…
- 7. Problem 3-08 (Profit Margin and Debt Ratio) Profit Margin and Debt Ratio eBook Profit margin: Assume you are given the following relationships for the Haslam Corporation: Sales/total assets Return on assets (ROA) Return on equity (ROE) Calculate Haslam's profit margin and liabilities-to-assets ratio. Do not round intermediate calculations. Round your answers to two decimal places. Liabilities-to-assets ratio: % % 3 Problem Walk-Through % 1.1 4% 6% Suppose half of its liabilities are in the form of debt. Calculate the debt-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places.Required Information [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities. Equity Common stock, $5 par value Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit 2821 $ 62,700 27,000 56,600 3,500 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 1. Cash paid for inventory 2. Cash paid for operating expenses 149,800 70,500 (10,900) $ 209,400 $ 9,900 5,900 1,000 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 16,800 20,700 37,500…1. A company has the following balance sheet information: cash of $127,536, current assets of $350,647, current liabilities of $289,615, long-term debt of $345,000 and total assets of $1,304,165. It also has sales of $1,600,400. a. What is the company's owner's equity balance? b. What is the company's cash and current ratios? c. What is the company's total asset turnover? d. If the profit margin is 25%, what is the company's net income? e. If you were to create a common size balance sheet, what would the cash line be? What would the long-term debt line be? What is the company's ROE? f.
