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P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Bondi ASA Statements of Financial Position December 31 Assets 2020 Plant assets (net) €4,355,000 Current assets Accounts receivable (net) 375,000 Cash Total current assets 3,145,000 Total assets €7,500,000 Equity and Liabilities Share capital-ordinary, €l par 2020

P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Bondi ASA Statements of Financial Position December 31 Assets 2020 Plant assets (net) €4,355,000 Current assets Accounts receivable (net) 375,000 Cash Total current assets 3,145,000 Total assets €7,500,000 Equity and Liabilities Share capital-ordinary, €l par 2020

FINANCIAL ACCOUNTING
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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P15.7

hicago/financial-actountilig/itct Sign in Register O Download A Save Share capital-ordinary, €1 par 400,000 000'000'E Retained carnings 375,000 3,375,000 Total cquity 3,300,000 000'S 4,125,000 Long-term notes payable Current liabilitics Total liabilities Total cquity and liabilities 000'00S'L3 Additional information: 1. The accounts receivable turnover for 2020 is 8 times. 2. All sales are on account. 3. The profit margin for 2020 is 14.5%. 4. Return on assets is 20% for 2020. 5. The current ratio on December 31, 2020, is 2.5. 6. The inventory turnover for 2020 is 4.9 times. 15-46 CHAPTER 15 Financial Analysis: The Big Picture Instructions Compute the missing information given the ratios above. Show computations. (Note: Start with one ratio and derive as much information as possible from it before trying another ratio. List all missing amounts under the ratio used to find the information.) Prepare statement of comprehensive income with discontinued operutions PI5.8 (LO 3) Violet Bick SA owns a number of cruise ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on September 1, 2020. The 2020 operating results for the O Help company were as follows. OO0 U00 C19
Transcribed Image Text:hicago/financial-actountilig/itct Sign in Register O Download A Save Share capital-ordinary, €1 par 400,000 000'000'E Retained carnings 375,000 3,375,000 Total cquity 3,300,000 000'S 4,125,000 Long-term notes payable Current liabilitics Total liabilities Total cquity and liabilities 000'00S'L3 Additional information: 1. The accounts receivable turnover for 2020 is 8 times. 2. All sales are on account. 3. The profit margin for 2020 is 14.5%. 4. Return on assets is 20% for 2020. 5. The current ratio on December 31, 2020, is 2.5. 6. The inventory turnover for 2020 is 4.9 times. 15-46 CHAPTER 15 Financial Analysis: The Big Picture Instructions Compute the missing information given the ratios above. Show computations. (Note: Start with one ratio and derive as much information as possible from it before trying another ratio. List all missing amounts under the ratio used to find the information.) Prepare statement of comprehensive income with discontinued operutions PI5.8 (LO 3) Violet Bick SA owns a number of cruise ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on September 1, 2020. The 2020 operating results for the O Help company were as follows. OO0 U00 C19
O Download A Sa g. Return on assets. P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing information given a ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Pjos spoos jo 1so Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense 550,000 Net income Bondi ASA Statements of Financial Position December 31 2020 2019 Assets €4,355,000 Plant assets (net) Current assets €4,620,000 1,720,000 Accounts receivable (net) Cash 3,145,000 Total current assets O Help €7,500,000 Total assets 2020 610 Equity and Liabilities Share capital-ordinary, €l par 7:10 AM ENG
Transcribed Image Text:O Download A Sa g. Return on assets. P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing information given a ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Pjos spoos jo 1so Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense 550,000 Net income Bondi ASA Statements of Financial Position December 31 2020 2019 Assets €4,355,000 Plant assets (net) Current assets €4,620,000 1,720,000 Accounts receivable (net) Cash 3,145,000 Total current assets O Help €7,500,000 Total assets 2020 610 Equity and Liabilities Share capital-ordinary, €l par 7:10 AM ENG
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