Net salesTotal assetsEnd of year balance in cashTotal stockholders' equityGross profit (SalesNet increase in cash for the yearOperating expenses-Cost of Sales)Net operating cash flowOther income (expense), netCompute Amazon's cost of goods sold for the year.$10,7744,4491,0714932,532152,064676(18)

A crucial financial indicator known as Cost of Goods Sold (COGS) shows the actual expenses incurred…

Net sales Total assets End of year balance in cash Total stockholders' equity Gross profit (Sales - Cost of Sales) Net increase in cash for the year Operating expenses Net operating cash flow Other income (expense), net Compute Amazon's cost of goods sold for the year. $10,774 4,449 1,071 493 2,532 15 2,064 676 (18)

Net sales Total assets End of year balance in cash Total stockholders' equity Gross profit (Sales - Cost of Sales) Net increase in cash for the year Operating expenses Net operating cash flow Other income (expense), net Compute Amazon's cost of goods sold for the year. $10,774 4,449 1,071 493 2,532 15 2,064 676 (18)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Refer the following table. Cash Accounts receivable (net) Inventory Prepaid rent Plant and equipment (net) Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings Required: Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) Net sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations Interest expense Income tax expense Profit Ratio Current ratio Quick ratio Accounts receivable turnover Days sales uncollected Inventory turnover Days sales in inventory Total asset turnover Accounts payable turnover Airspace Technologies Inc. Income Statement 2023 For Year Ended November 30 (millions of $) 1 1 days times days times times 2022 1 1 2023 times days time $.63 112 194 74 days times times 740 98 $ 122 242 600 86 19 2023 $1,240 466 $774 52 484 536 $ 238 21 28 $ 189 2022 nequieu. Calculate Airspace's liquidity and…
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Comparative Balance SheetsConsider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands): Current Year Previous Year Cash and Cash Equivalents $113,756 $12,848 Accounts Receivables 100,593 68,342 Merchandise Inventories 1,212,105 449,983 Other Current Assets 26,303 17,692 Total Current Assets 1,452,757 548,865 Property and Equipment (net) 328,175 227,596 Other Assets 28,804 13,993 Total Assets $1,809,736 $790,454 Current Liabilities $763,853 $334,809 Long-Term liabilities 454,141 127,537 Total Liabilities 1,217,994 462,346 Common Stock 3,965 2,068 Additional Paid-in-Capital 425,768 246,871 Retained Earnings 162,009 79,169 Total Stockholders' Equity 591,742 328,108 Total Liabilities and Stockholders' Equity $1,809,736 $790,454 Prepare a comparative balance sheet, showing increases in dollars and percentages. Note: Round "Percent Change" answers to one decimal place (ex:…
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Net sales Cost of goods sold Gross margin Operating expenses Net income Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity Goliath Company Comparative Income Statements For Years Ended December 31 Current Year One Year Ago $ 206,000 $ 184,000 108,000 121,000 85,000 45,000 $ 40,000 76,000 40,000 $ 36,000 Goliath Company Comparative Balance Sheets For Years Ended December 31 Current Year $ 153,000 58,000 30,000 170,000 $ 411,000 $ 36,000 190,000 60,000 125,000 $ 411,000 Required: Using the above information, compute the following: Two Years Ago $ 160,000 92,000 68,000 36,000 $ 32,000 One Year Ago $ 158,000 52,000 17,000 170,000 $ 397,000 $ 32,000 220,000 60,000 85,000 $ 397,000 Three Years Ago $ 114,000 78,000 36,000 19,000 $ 17,000 Two Years Ago $ 129,000 45,000 23,000 140,000 $ 337,000 $ 28,000 200,000 60,000 49,000 $ 337,000 Three Years Ago $ 156,000…
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Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year 1 Year Ago $ 31,099 $ 26,605 89, 200 114,500 62,900 85,000 8,568 221, 258 8,163 209,503 $ 460, 131 $ 396,665 Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 112,281 84,775 162,500 100,575 $ 460,131 $ 396,665 $ 65,696 89,408 162,500 79, 061 Current Year The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: $364,884 185,433 10, 169 7,776 $598,170 2 Years Ago 568, 262 $ 29,908 $ 1.84 $ 32,725 50,800…
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