Net incomeDividendsAddition to retained earnings$ 86,110$ 26,69459,416CROSBY, INCORPORATEDBalance Sheet as of December 31, 2023AssetsCurrent assetsLiabilities and Owners' EquityCurrent liabilitiesCashAccounts receivableInventoryTotal$ 21,84044,780103,960Accounts payableNotes payable$ 170,580Fixed assetsNet plant and equipment$ 435,000Total assetsTotalLong-term debtOwners' equityCommon stock and paid-in surplusAccumulated retained earningsTotal$ 56,00015,200$ 71,200$ 142,000$ 120,500271,880$ 392,380$ 605,580Total liabilities and owners' equity$ 605,580If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 20percent growth rate in sales?Note: Do not round intermediate calculations.EFN

Calculate the projected salesIf sales are expected to grow by 20%, the new sales figure would…

Answered: Net income Dividends Addition to…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 98.3C

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The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (24%) CROSBY, INCORPORATED 2021 Income Statement Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory $31,335 69,745 $ 20,640 43,580 91,960 $747,000 582,000 18,000 FA $147,000 14,000 $ 133,000 31,920 $ 101,080 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Seved Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total $ 54,800 14,000 $ 68,800 MA000
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2821 $ 75 115 200 $390 ROA ROE $580 110 $470 50 $520 $910 Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: 96 96 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 $ 65 110 198 $365 DuPont Analysis times times $471 100 $371 LAK OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020…
Calculate operating EPS and Gearing for the year 2018 and 2019
Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74
The following table shows an abbreviated income statement and balance sheet for McDonald's Corporation for 2012. INCOME STATEMENT OF MCDONALD'S CORP., 2012 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Taxes Net income 27,570 17,572 1,405 8,593 520 8,073 2,620 5,453
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 Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700…
HARTFORD INCORPORATED Comparative Balance Sheets At December 31, 2023 and 2022 \table[[, 2023, 2022], [Assets:], [Current assets:], [Cash,,, $, 105, 600], [Accounts receivable,,,,87,600], [ Inventory,,67,200,,], [Total current assets], [Land,,,, 48,000], [Buildings and equipment,,312,000,,], [Less: Accumulated depreciation....(147,600) Following is a statement of cash flows (indirect method) for Hartford Incorporated for the year ended December 31, 2023. Also shown is a partially completed comparative balance sheet as of December 31, 2023 and 2022: HARTFORD INCORPORATED Statement of Cash Flows For the year Ended December 31, 2023 Cash Flows from Operating Activities: Net income $ 10,800 Add (deduct) items not affecting cash: Depreciation expense 54,000 Decrease in accounts receivable 27,600 Increase in Inventory (8,400) Increase in notes payable 14,400 Decrease in accounts payable (7,200) Net cash provided by operating activities $91,200 Cash Flows from Investing Activities: Purchase…
Pot Inc. acquired all Seed Inc.'s outstanding $27 par common stock on December 31, 20X3, in exchange for 41,000 shares of its $27 par common stock. Pot's common stock closed at $58.50 per share on a national stock exchange on December 31, 20X3. Both corporations continued to operate as separate businesses maintaining separate accounting records with years ending December 31. On December 31, 20X4, after year-end adjustments and the closing of nominal accounts, the companies had condensed balance sheet accounts. Assets Cash Accounts & Other Receivables Inventories Land Depreciable Assets (net) Investment in Seed Inc. Long-Term Investments & Other Assets Total Assets Liabilities and Stockholders' Equity Accounts Payable and Other Current Liabilities. Long-Term Debt Common Stock, $27 Par Value Additional Paid-In Capital Retained Earnings Total liahilities and Stockholders' Fruity Additional Information Common Stock Additional Paid-In Capital Retained Earnings Pot Inc. $830,000 $331,000…
Assets Fixed assets: Property, plant equipment (net) Total fixed assets Current assets: Inventory and Accounts Receivable (net) Cash and cash equivalents Total current assets Total assets 20X8 750,000 750,000 574,800 235,600 81,200 891,600 1,641,600 Sanborn Corporation Comparative Balance Sheets in € December 31, 20X8 and 20X7 Liabilities 20X7 720,000 720,000 594,800 229,200 40,800 864,800 1,584,800 Stockholders' Equity Stockholders' equity: Common stock 10 par value Retained earnings Total equity Long-term liabilities: Bonds payable Total stockholders' long-term liabilities Current liabilities: Notes payable Accounts payable Total current liabilities Total liabilities Total liabilities stockholders' equity 20X8 400,000 374,000 774,000 400,000 400,000 200,000 267.600 467,600 867,600 & 1,641,600 20X7 400,000 307,600 707,600 400,000 477,200 877,200 877,200 1,584,800 Comment on the results in requirements 1 and 2 by identifying favourable and unfavourable changes in the components and…
Financed by: Paid-up: Share Capital Retained Earnings Reserves Long Term Liabilities Current Other payables Trade creditors Liabilities Accrued expense Barakah Company Balance Sheet as at 31st December 2019 100,000 245,500 30,000 Additional Information: i) ii) 600,000 155,500 75,000 830,500 25,000 375,500 1,231,000 Fixed Assets (net after depreciation) $ Land & Buildings Equipment Vehicles Fixtures & Fittings Current Assets Inventory Accounts Receivable Prepayments Cash at Bank Cash in Hand Work-in-Progress is one-sixth of the total Inventory. Prepayments are related to the rental of buildings. Bad debt is 5% for the year. Non-Muslim ownership is at 20%. 350,500 200,500 150,000 50,000 751,000 Required: Determine the zakat base and due for the company using: (a) Net Current Assets method; and (b) Net Invested Fund Method. 125,000 215,000 10,000 110,000 20,000 1,231,000
Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings Profit margin Total asset turnover Equity multiplier Return on equity $ 187,570 126,303 5,323 $ 55,944 1,420 $ 3,181 4,762 12,498 $20,441 $ 54,524 19,083 $ 35,441 $ 11,915 23,526 % SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other $ 51,022 $ 75,789 $ 71,463 $ 98,589 $ 3,257 5,771 13,772 $ 22,800 times times % Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 2,158 1,755 91 $4,004 $ 13,300 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your…

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