What is the net income for lakeshore technology? General accounting Lakeshore Technologies Ltd. reported the followingbalances: Assets = $900 Total Liabilities = $500 Paid-inCapital (PIC) = $250 Beginning Retained Earnings$100 Dividends Paid during the Period= $30 what isthe net income for Lakeshore Technologies Ltd.?==

Step 1: Definition of Net IncomeNet Income is the profit a company earns after subtracting all…

Answered: Lakeshore Technologies Ltd. reported…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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The average liabilities, average stockholders' equity, and average total assets are as follows: 1. Determine the following ratios for both companies, rounding ratios and percentagesto one decimal place: a. Return on total assets b. Return on stockholders' equity c. Times interest earned d. Ratio of total liabilities to stockholders' equity 2. Based on the information in (1), analyze and compare the two companies'solvency and profitability. Comprehensive profitability and solvency analysis Marriott International, Inc., and Hyatt Hotels Corporation are two major owners and managers of lodging and resort properties in the United States. Abstracted income statement information for the two companies is as follows for a recent year (in millions): Balance sheet information is as follows:
Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.
What is the net income for lakeshore technology?
The following information pertains to Cachet Company. Assume that allBalance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit.AssetsCash and short-term investments P 40,000Accounts receivable (net) 30,000Inventory 25,000Property, plant and equipment 215,000Total Assets P310, 000Liabilities and Stockholders’ EquityCurrent liabilities P 60,000Long-term liabilities 95,000Stockholders’ equity—common 55,000Total Liabilities and Stockholders’ Equity P310, 000Income StatementSales P 90,000Cost of goods sold 45,000Gross margin 45,000Operating expenses 20,000Net income P 25,000Number of shares of common stock 6,000Market price of common stock P20Dividends per share P1.00What is the price-earnings ratio for this company?A. 6 timesB. 4.2 timesC. 8 times D. 4.8 times Can you please give me a coherent solution for this?
Additionally, the company informed the following: Net income = $156,042 Sales = $4,063,589 Determine the following values for the company: Current ratio _____________ Quick ratio _____________ Days’ sales outstanding (DSO) _____________
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Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year $ 16,553 718,855 89,932 109,201 Total stockholders' equity, beginning-year 204,935 Total stockholders' equity, end-of-year 130,851 What is the return on total assets? (Do not round intermediate calculations.).
What is the return on total assets ?
How is the year-end balance of the NCI in Net Income (NCINI) account calculated? O A) NC1% of S's book/reported net income - NCI's % of Amort of Differential. B) NCI% of S's book/reported net income - NCI's % of Amort of Differential - NCI's% of S's dividends. C) NCI% of S's book/reported net income + NCI's % of Amort of Differential. D) NC1% of S's book/reported net income - NCI's % of Amort of Differential + NCI's% of S's dividends.
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The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,202,600 Property, plant, and equipment (net) Liabilities: $173,000 Current liabilities 859,000 Note payable, 6%, due in 15 years $1,032,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $619,200 Common stock, $10 par (no change during year) 619,200 Retained earnings: $660,000 Balance, beginning of year Net income $974,000 314,000 Preferred dividends $24,768 148,400 Common dividends 123,632 Balance, end of year 825,600 Total stockholders' equity $2,064,000 $19,922,100 Sales Interest expense $51,540 Assuming that total assets were $2,941,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
Accounting selected current year company information follow:

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Lakeshore Technologies Ltd. reported the following balances: Assets = $900 Total Liabilities = $500 Paid-in Capital (PIC) = $250 Beginning Retained Earnings $100 Dividends Paid during the Period = $30 what is the net income for Lakeshore Technologies Ltd.? ==