Questions are attached in the screenshot below thank youneed it answered asapgreatly appreciate the help! Lorna Company is a new company with a beginning retained earnings balance of zero. It has the following account balances at the end of the first year of operations:$37,000$100,000$13,000$9,000$12,000$9,000Accounts PayableRevenuesSalaries ExpenseDividendsUtilities ExpenseAdvertising ExpenseShort-term InvestmentsCashLandCommon StockA. $75,000B. $25,000C. $66.000O D. $57,000$20,000$82,000$50,000$58,000C--- Michael Company reports Total Assets of $231,000, Common Stock of $53,000, and Retained Earnings of $94,000. What are total liabilities at the end of the first year?OA. $137,000B. $178,000OC. $84,000OD. $190,000

Retained Earnings - Retained Earnings are a part of the Stockholder's Equity Statement. It includes…

Answered: Lorna Company is a new company with a…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920. Hollys stockholders equity was $280,000 at the beginning of the year and $320,000 at the end of the year. The company has 20,000 shares of stock outstanding at the end of the year. Required Compute Hollys profit margin. What other information would you need in order to comment on whether this ratio is favorable?
Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of 8,125,000, and total assets of 40,625,000. Required: Note: Round answers to two decimal places. 1. Calculate the debt ratio. 2. Calculate the debt-to-equity ratio.
Sun City Corporation's end-of-year balance sheet consisted of the following amounts: Cash Property, plant, and equipment Capital stock Retained earnings $ 25,000 70,000 100,000 Ob. $200,000 Oc. $165,000 Od. $100,000 7 Accounts receivable Long-term debt Accounts payable Inventory What amount should Sun City report on its balance sheet for total assets? Oa. $95,000 $70,000 40,000 20,000 35,000
Assume a company had sales of $372,000 (all on account) and net income of $60,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities: Accounts payable $ 38,000 $ 44,000 Accrued liabilities $ 18,000 $ 15,000 Income taxes payable $ 13,000 $ 10,000 If the credits to the company’s accumulated depreciation account were $21,000, then based solely on the information provided, the company’s cash collections from customers would be: Multiple Choice $375,000. $381,000. $366,000. $378,000.
Michael Company reports Total Assets of $252,000. Common stock of $47,000 and retaind earnings of $112,000. What are the total liabilties at the end of the year? A. $93,000 B. $140,000 C. $187,000 D.$ 205,000
Midyear on July 31st the digby corporation's balance sheet reported: TOtal liabilities of $128.513 million , cash of $10.050 million , Total assets of $209.895 million, Total common stock of $6.350 million. What were the Digby corporation retained earnings? A. $75.032 million B. $87.732 Million C. $85.082 Million D. $97.782 Million
Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning and ending total assets were $35,500 and $19,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 11.58% B. 4.04% C. 8.07% D. 6.20%
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $ 486,000 $ 500,000 Accounts receivable 210,000 200,000 Inventory 375,000 350,000 Total current assets $1,071,000 $1,050,000 Current liabilities: Current portion of long-term debt $ 145,000 $ 110,000 Accounts payable 175,000 150,000 Accrued and other current liabilities 260,000 240,000 Total current liabilities $ 580,000 $ 500,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place. Quick Ratio Previous year: fill in the blank 1 Current year: fill in the blank 2 b. How did the quick ratio change between the two balance sheet dates? Which statement below describes the change between the two balance sheet dates?
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $661,910Interest expense 116,810Average total assets 6,280,000Determine the return on total assets. If required, round the answer to one decimal place.fill in the blank 1 %
Assume a company had net Income of $72,000 and provided the following excerpts from its balance sheet: This Year Last Year Current assets: $40,000 $53,000 $13,000 $46,000 $50,000 $11,000 Accounts receivable Inventory Prepaid expenses Current liabilities: $38,000 $18,000 $13,000 $44,000 $15,000 $10,000 Accounts payable Accrued liabilities Income taxes payable If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the informatlon provlded, the company's net cash provided by (used in) operating activities would be: Multiple Cholce $94,000. $52,000. $68,000. $92,000.
Return on total assets A company reports the following income statement and balance sheet information for the current year: Net income $410,000 Interest expense 90,000 Average total assets 5,000,000 Determine the return on total assets. (Round percentages to one decimal place.) %

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