Oliver Supplies has assets equal to $320,000 and liabilities equal to $285,000 at year-end. What is the total equity for Oliver Supplies at year-end?
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- What is summits net income for the year? General accountingThe following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,426,600 Liabilities: Current liabilities $205,000 Note payable, 6%, due in 15 years 1,019,000 Total liabilities $1,224,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during $1,224,000 year) Common stock, $10 par (no change during year) 1,224,000 Retained earnings: Balance, beginning of year $1,306,000 Net income 571,000 $1,877,000 Preferred dividends $48,960 Common dividends 196,040 245,000 Balance, end of year 1,632,000 Total stockholders' equity $4,080,000 Sales $27,926,100 Interest expense $61,140What is summits net income for the year?
- BI's income for the year ended December 31, 2021 was $ 4,000,000. This was earned evenly over the year. In addition BI paid dividends of $ 300,000 each on March 31, June 30, September 30 and December 31, 2021 to their shareholders of records on that date. The inventory on July 1, 2021 was 75% sold as of December 31, 2021. Required. For the investment in AI 1. Using IFRS 9 prepare the journal entries for DC for all of 2021. 2. Using ASPE prepare the journal entries for DC for all of 2021. For the investment in BI 3. Using IFRS prepare the journal entries for DC for 2021. 4. Using ASPE prepare the joumal entries for DC for 2021 for all options available under ASPE.For the year ended December 31, 2022, Settles Incorporated earned an ROI of 7.2%. Sales for the year were $11 million, and average asset turnover was 1.8. Average stockholders' equity was $3.1 million. Required: a. Calculate Settles Incorporated's margin and net income. Note: Round "Margin" answer to 1 decimal place. Enter the net income answer in dollars, i.e., $5 million should be entered as 5,000,000. b. Calculate Settles Incorporated's return on equity. Note: Round your answer to 1 decimal place. a. Margin a. Net income b. Return on equity %A company reports the following income statement and balance sheet information for the current year: Net income $435,590 Interest expense 76,870 Average total assets 4,380,000 Determine the return on total assets. If required, round the answer to one decimal place. %
- For the year ending March 31, 2019, Northern Air Cooling Corporation has: Total assets = $109,931,999 ROA = 9.67 % ROE = 11.19 % Net profit margin = 10.59 % Determine the following: Net income: _____________ Sales: _____________ Equity Multiplier: _____________What is optima's net income for the year on these accounting question?Please Help