Income Statement: The income statement of Taco Bell company is given for theyears 2020 & 2019.20202019General and administrative expenses25,00024,000Interest expense1,2001,500Net sales$124,000$138,000Selling expenses11,88012,720Income taxes$1,109.51,883COGS108,00095,000Gain on Sale of land4506001. What is the operating profit marain for the company over the years 2020 and+ O d) ENGTOSHIBA zvcHy9vKm0jUnAg/formResponse?pli= 13. What is the gross profit margin for the company over the years 2020 and 2019respectively? *O A) 2.6%; 4.5%O B) 1.3%; 2,5%C) 1.8%; 3.4%O D) 27.4%; 31.1%O E) None of the above4. According to your answer in the previous question (3), the gross profit marginhas decreased from 2019 to 2020. This decline in gross profit could be due to:A) A decrease in prices caused by competition, deflation, or slow-moving goods thathave been discounted.B) An increase in the cost of goods and the firm has been unable to pass along theincreases to customers. This is happened while the selling prices have remained thesame.C) All of the above.D) None of the aboveO O O

Gross Profit margin: When all expenses associated with making and selling a company's goods or…

Answered: Income Statement: The income statement…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Consider the following information for Handley Stores for 2020 and 2021: 2020 2021 Total assets $72,590,000 $68,832,000 Noninterest-bearing current liabilities 5,368,000 6,039,000 Net income 4,453,000 6,039,000 Interest expense 2,944,000 3,640,000 Sales 55,572,000 117,425,000 Tax rate 35% 35% X Your answer is incorrect. Compute ROI for both years. (Round answers to 2 decimal places, e.g. 15.32%.) 2020 2021 ROI 6.13 % 8.77 % * Your answer is incorrect. Break ROI down into profit margin and investment turnover. (Round answers to 4 decimal places, eg. 15.3215.) 2020 2021 Profit margin 8.01 5.14 Investment turnover 0.78 1.72
The following information related to TRT Company for the years 2019 and 2020. 1. Income Statement Information 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 00,000 n6,000 Operating Expense 46,000 41,000 Interest Expernse 9,000 10,200 Income Tax Expense 10,200 9,600 Net Income 154,000 103 200 2. Other Infomation: 2019 2020 Total Assets $250,000 $190,000 Construction in Progress 15,000 14,200 intangible Assets 7,000 7,000 Long-term debts 70,000 70,000 Current liabilities 40,000 50,000 Preferred Stocks, 5% 10,000 10,000 Common Stocks. 210,000 150,000 Dividend For Common shares 84,000 60,000 Market Price of Common Shares 16 10 3. Common Stock outstanding information: *No change in outstanding common shares during 2019. in 2020 the following changes occurred: January 1.2020 (Beginning) 40,000 April 1. 2020 Shares issued 20,000 July 1. 2020 Purchased Treasury shares 6,000 Sept 30. 2020 Shares issued 8,000 November 1.2020 Stock Dividend 10% issued Dec 31.2020 Shares issued 1,950…
Philly Corporation Philly Corporation Income Statement Comparative Account Information Relating to Operations For the Year Ended December 31, 2020 For the Year Ended December 31, 2020 2020 2019 Sales Revenue 680,000 Accounts receivable -net 78,000 65,000 Cost of goods sold 355,000 Prepaid insurance 5,000 6,000 Salaries expense 50,000 Equipment 111,100 122,400 Depreciation expense equipment 6,800 Accumulated Depreciation 13,800 14,600 Interest expense 8,000 Land 56,000 36,000 Bad debt expense 2,400 Accounts Payable 59,000 47,000 Loss on sale of equipment 4,800 Interest payable 600 1,500 Miscellaneous…
Using Financial Statements for 2020, current ratio for the year 2020 is 1.62.
How much net income did Wolf Enterprises earn during 2021? Net income for 2021 was Cost of services sold Accumulated depreciation Selling, general, and administrative expenses Retained earnings, December 31, 2020 $ 14,500 Service revenue 40,800 Depreciation expense Other revenue 6,100 Dividends declared Income tax expense 2,700 Income tax payable 32,400 4,200 700 700 500 1,100
The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales $ 270,000 Costs 185,000 EBIT $ 85,000 Interest expense 17,000 Taxable income $ 68,000 Taxes (at 21%) 14,280 Net income $ 53,720 Dividends $ 21,488 Addition to retained earnings $ 32,232 BALANCE SHEET, YEAR-END, 2019 Assets Liabilities Current assets Current liabilities Cash $ 3,000 Accounts payable $ 10,000 Accounts receivable 8,000 Total current liabilities $ 10,000 Inventories 29,000 Long-term debt 170,000 Total current assets $ 40,000 Stockholders’ equity Net plant and equipment 210,000 Common stock plus additional paid-in capital 15,000 Retained earnings 55,000 Total assets $ 250,000 Total liabilities plus stockholders' equity $ 250,000 Sales and…
Using Financial Statements for 2020, sales to working capital for the year 2020 is 2.41. True or False?
Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 25,000 24,000 Interest expense 1,200 1,500 Net sales $124,000 S138,000 Selling expenses 11,880 12,720 Income taxes $1,109.5 1,883 108 000 95,000 COGS 450 600 Gain on Sale of land l2020 and
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2019 Sales $ 5,000 Cost 3,900 Net income $ 1,100 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $ 7,500 $ 12,100 Debt $ 833 $ 1,000 Equity 6,667 11,100 Total $ 7,500 $ 12,100 Total $ 7,500 $ 12,100 a. If sales increase by 10% in 2020 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 10%), what must be the balancing item? b. What will be the value of this balancing item?
MOSS COMPANY Selected Balance Sheet Information 2020 At December 31 Current assets Cash Accounts receivable. Inventory Current liabilities. Accounts payable Income taxes payable $ 84,650 25,000 60,000 Sales Cost of goods sold Gross profit 30,400 2,050 2019 $26,800 32,000 54,100 MOSS COMPANY Income Statement For Year Ended December 31, 2020 25,700 2,200 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 515,000 331,600 183,400 121,500 36,000 25,900 7,700 $ 18,200 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities
LOGIC COMPANYComparative Income StatementFor Years Ended December 31, 2019 and 2020 2020 2019 Gross sales $ 19,000 $ 15,000 Sales returns and allowances 1,000 100 Net sales $ 18,000 $ 14,900 Cost of merchandise (goods) sold 12,000 9,000 Gross profit $ 6,000 $ 5,900 Operating expenses: Depreciation $ 700 $ 600 Selling and administrative 2,200 2,000 Research 550 500 Miscellaneous 360 300 Total operating expenses $ 3,810 $ 3,400 Income before interest and taxes $ 2,190 $ 2,500 Interest expense 560 500 Income before taxes $ 1,630 $ 2,000 Provision for taxes 640 800 Net income $ 990 $ 1,200 LOGIC COMPANYComparative Balance SheetDecember 31, 2019 and 2020 2020 2019 Assets Current assets: Cash $ 12,000 $ 9,000 Accounts receivable 16,500 12,500 Merchandise inventory 8,500 14,000 Prepaid expenses 24,000 10,000 Total current assets $ 61,000 $ 45,500 Plant and…
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019Sales $ 11,000 $ 10,000Operating costs excluding depreciation 9,618 8,730Depreciation and amortization 370 330 Earnings before interest and taxes $ 1,012 $ 940Less interest 280 200 Pre-tax income $ 732 $ 740Taxes (25%) 183 185Net income available to common stockholders $ 549 $ 555Common dividends $ 204 $ 200Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019AssetsCash $ 650 $ 600Short-term investments 230 200Accounts receivable 2,750 2,500Inventories 1,250 1,200 Total current assets $ 4,880 $ 4,500Net plant and equipment 3,750 3,500Total assets $ 8,630…

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