net operating profit after taxes
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 24CE
Related questions
Question
What is National Co.’s
![NATIONAL CO.: INCOME STATEMENTS FOR YEAR ENDING DECEMBER 31
(MILLIONS OF PHP)
2022
2021
P3,600.0 P3,000.0
3.060.0
P 540.0
90.0
P 450.0
65.0
P 385.0
154.0
Р 231.0
P 181.5
Sales
Operating costs (excluding depreciation and amortization)
Е ВITDA
Depreciation and amortization
E arnings before interest and taxes
Interest
E arnings before taxes
Taxes (40%)
Net income available to common stockholders
2,550.0
P 450.0
75.0
P 375.0
60.0
P 315.0
126.0
P 189.0
P 13.2
Common dividends
NATIONAL CO.: BALANCE SHEETS FOR YEAR ENDING DECEMBER 31
(MILLIONS OF PHP)
2022
2021
Assets:
Cash and marketable securities
P 36.0
540.0
P 30.0
450.0
Accounts receivable
Inventories
Total current assets
540.0
P1,116.0
900.0
P2.016.0
600.0
P1,080.0
750.0
P1.830.0
Net plant and equipment
Total assets
Liabilities and equity:
Accounts payable
Notes payable
P 324.0
P 270.0
155.0
201.0
Accruals
Total current lia bilties
Long-term bonds
Total debt
Common stock (50 million shares)
Retained earnings
Total com mon equity
Total liabilities and equity
216.0
P 741.0
450.0
P1,191.0
180.0
P 605.0
450.0
P1,055.0
150.0
150.0
675.0
P 825.0
P2.016.0
625.0
P 775.0
P1.830.0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4018bc5b-16ab-467c-b7c9-d09c5e9dc54e%2F8e2bd131-2ba4-48c8-b50f-8b0fb963f976%2F48wh5e_processed.png&w=3840&q=75)
Transcribed Image Text:NATIONAL CO.: INCOME STATEMENTS FOR YEAR ENDING DECEMBER 31
(MILLIONS OF PHP)
2022
2021
P3,600.0 P3,000.0
3.060.0
P 540.0
90.0
P 450.0
65.0
P 385.0
154.0
Р 231.0
P 181.5
Sales
Operating costs (excluding depreciation and amortization)
Е ВITDA
Depreciation and amortization
E arnings before interest and taxes
Interest
E arnings before taxes
Taxes (40%)
Net income available to common stockholders
2,550.0
P 450.0
75.0
P 375.0
60.0
P 315.0
126.0
P 189.0
P 13.2
Common dividends
NATIONAL CO.: BALANCE SHEETS FOR YEAR ENDING DECEMBER 31
(MILLIONS OF PHP)
2022
2021
Assets:
Cash and marketable securities
P 36.0
540.0
P 30.0
450.0
Accounts receivable
Inventories
Total current assets
540.0
P1,116.0
900.0
P2.016.0
600.0
P1,080.0
750.0
P1.830.0
Net plant and equipment
Total assets
Liabilities and equity:
Accounts payable
Notes payable
P 324.0
P 270.0
155.0
201.0
Accruals
Total current lia bilties
Long-term bonds
Total debt
Common stock (50 million shares)
Retained earnings
Total com mon equity
Total liabilities and equity
216.0
P 741.0
450.0
P1,191.0
180.0
P 605.0
450.0
P1,055.0
150.0
150.0
675.0
P 825.0
P2.016.0
625.0
P 775.0
P1.830.0
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning