Intro The balance sheet for Reddit Rebels for December 31 of 2020 and 2021 is shown below: Assets Cash 2020 2021 2,650 3,680 Liabilities & equity 2020 2021 Accounts payable 2,650 7,320 Accounts receivable 5,830 0.150 Inventory 7,950 6,710 Notes payable Accruals 1,590 4,270 2,650 2,440 Current assets 16,430 19,520 Current liabilities Land Buildings Equipment 13.250 13,250 7,950 12.200 21,200 27 450 Total liabilities Common stock Long-term debt 16,430 24,430 6,890 14,030 9,540 10,400 6.890 6,890 Accumulated depr 5,830 11.420 Retained earnings 29,680 29,680 Net fixed assets 36,570 41,480 Total equity 36,570 36,570 53,000 61,000 Total assets The company did not repurchase any stock during those years. Total liab. & equity 53,000 61,000 Part 1 Attempt 3/5 for 8 pts. Which of the following statements are true about 2021? Check all that apply The company invested more in fixed assets than it paid in dividends. The company issued new stock. Dividends equaled net income for the year. The company had zero net income. Submit
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- Comparative balance sheet accounts of Flounder Inc. are presented below. FLOUNDER INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019December 31Debit Accounts 2020 2019Cash $42,300 $34,000Accounts Receivable 70,600 59,600Inventory 30,000 23,900Equity investments 22,500 38,700Machinery 29,700 18,600Buildings 67,900 56,600Land 7,500 7,500 $270,500 $238,900Credit Accounts Allowance for Doubtful Accounts $2,200 $1,500Accumulated Depreciation—Machinery 5,700 2,300Accumulated Depreciation—Buildings 13,600 8,900Accounts Payable 34,800 24,500Accrued Payables 3,300 2,700Long-Term Notes Payable 21,200 31,200Common Stock, no-par 150,000 125,000Retained Earnings 39,700 42,800 $270,500 $238,900 Additional data (ignoring taxes): 1. Net income for the year was $43,100.2. Cash dividends declared and paid during the year were $21,200.3. A 20% stock dividend was declared during the…Use the table for the questions below. Consider the following balance sheets: PharmPic DosageDoc Reported Dec. 31, 2020 2021 2020 2021 Assets Cash 224,224 200,400 301,540 230,876 Accounts Receivable 129,000 118,125 130,316 110,345 Inventories 154,890 171,147 184,717 186,000 Total Current Assets 508,114 489,672 616,573 527,221 Net Property Plant & Equipt. 421,162 431,795 456,462 460,000 Patents and Trademarks 212,770 210,110 201,348 199,990 Total Assets 1,142,046 1,131,577 1,274,383 1,187,211 Liabilities and Stockholders' Equity: Short Term Borrowings (Bank) 257,000 264,023 302,453 270,000 Accounts Payable 212,900 209,000 267,004 225,000 Current Portion of LTD (Interest Bearing Debt) 39,532 29,081 32,611 46,048 Total Current Liabilities 509,432 502,104 602,068…S Find online the annual 10 - K report for Costco Wholesale Corporation (COST) for September 28, 2023 f. Did the company have any contingent liabilities at the balance sheet date? Discuss the specific nature of these contingencies and how (or whether) they are expected to affect the firm's financial health h ASSEN s Ope TOTAL ASSETS CURRENT LIABILITIES LABILITIES AND EQUITY A Der Cap OTT L se org TOTAL LIATES COMMITMENTS AND CONTINGENCIES COUNTY 10 suhted this Consescanda Talk sil TOTAL LIABUTES AND EQUITY 2/12 3/18 2241 17667 Sa 24741 2/14 4 04.15 17482 s 52.545 2321 7301 топ 2337 2174 1.589 22 5611 TRE 3377 242 2482 2555 2.558 BUX 4351 = - 2 7.340 084 138931 21842 25194 21547 94111
- Please input numbers in boxes below based on data provided for year 2018. Current assets - current liabilities = net working capitalUsing the Balance Sheet and Income Statement please calculate the following: Balance Sheet Assets Liabilities and Owner’s Equity 2018 2019 2018 2019 Current Assets Current Liabilities Cash 300 325 Acts Pay 480 400 Accs Rec 275 270 Notes Pay 560 500 Inventory 600 675 Total 1,040 900 Total 1,175 1,270 Long Term Debt 950 1,200 Fixed Assets Net Fixed 2,350 2,875 Owners Equity Preferred Stock 750 845 Retained Earn 785 1,200 Total 1,535 2,045 Total Assets 3,525 4,145 Total Liabilities & OE 3,525 4,145 2019 Income Statement Net Sales 3,456 COGS 1,895 Depreciation 235 EBIT 1,326 Interest 320 Taxable Income 1,006 Taxes 211.26 Net Income 794.74 Dividends 147 Additions to Retained Earnings 647.74…How did they get 12 million from this question? Explain
- The summarized balance sheet of WIPRO Itd forthe year ended 31/03/2020 and 31/03/2021 are given below. Prepare funds flow statement. Liabilities Equity share capital General Reserve Pro fit&loss a/c Sundry Creditor Provision for Tax 2020 5,00,000 2,00,000 40,000 1,58,000 45,000 2021 Assets 2020 2021 Land & Building 6,00,000 2,20,000 1,32,000 1,72,000 30,000 1,80,000 Plant and Machinery 2,10,000 80,000 2,00,000 1,70,000 1,03,000 9,43,000 3,00,000 2,76,000 95,000 1,90,000 1,95,000 98,000 11,54,000 Other fixed Assets Stock Debtors Cash at bank Total 9,43,000 The following adjustment the company faces during the year. 11,54,000 Total Dividend Rs. 30,000 was paid during the year. An old machinery costing 1,20.000 was sold for 1,00,000 and the depreciation Rs 50,000.The balance sheets for Sports Unlimited for 2021 and 2020 are provided below.SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020AssetsCurrent assets:Cash $ 103,500 $ 70,400Accounts receivable 46,800 32,000Inventory 44,550 71,200Prepaid rent 7,200 3,600Long-term assets:Investment in bonds 54,900 0Land 117,450 141,600Equipment 106,200 102,000Less: Accumulated depreciation (30,600) (20,800)Total…Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities January 31, 2020 Working capital Current ratio 6 EL EL $ 21 $ 15 January 31, 2019 01/31/2020 01/31/2019 9 18 $ 25 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (1.e.. 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) $12 b. Evaluate the firm's liquidity at each balance sheet date. Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. O Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the firm operated at a loss…
- A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.Problem 17-2A (Algo) Ratios, common-size statements, and trend percer [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 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 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 $546,242 328,838 217,404 77,566 49,162 126,728 90,676 16,866 $ 73,810 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 418,466 263,634 2021 % 154,832 57,748 36,825 94,573 60, 259 12,353 $ 47,906 % $61,141 0 113,547…The following selected information (in thousands) is available for Granger Limited: Total assets Type here to Total liabilities Interest expense Income tax expense Net income Cash provided by operating activities Net capital expenditures Dwidends paid or common shares E 2021 $3,909 2.155 16 176 407 845 402 110 2020 $3,668 1.942 23 151 379 576 300 90