Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income $36,408 28,225 1.760 6,423 510 5,913 Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ 24 Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable
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- Total Net Fixed Assets Total Assets O 14.97 siven, O 16.05 O 9.63 Cash Accounts Receivable Inventory Click to open: O 12.59 Net Sales Less: Cost of Goods Sold Less: Depriciation Earnings before Interest and Taxes O 10.12 Less: Interest Paid Taxable income Less: Taxes Net Income Precision Tools 2012 Income Statement ($ in Millions) What is the times interest earned ratio for 2012? 2011 2060 3411 18776 24247 14160 38407 LE 36408 28225 1760 6423 510 5913 2070 3843 Precision Tools 2011 and 2012 Balance Sheets ($ in Millions) 2012 1003 Accounts Payable 4218 Long Term Debt 21908 Common Stock 27129 Retained Earnings 14080 41209 Total Liabilities and Equity 2011 7250 9800 15000 6357 38407 2012 8384 11500 17500 3825 41209 97Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets. Total assets 2020 $ 6,170 4,440 380 $1,350 $ 130 38 $ 1,312 276 $ 1,036 2021 $ 235 1,070 910 2,100 1,745 $ 2,945 $ 3,245 3,780 3,560 $ 6,725 $ 6,805 Total liabilities & equity Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) Accounts payable Long-term debt Common stock Retained earnings How many dollars of sales were generated from every dollar of fixed assets during 2021? 2020 $ 1,635 850 3,320 920 $ 6,725 2021 $1,665 650 3,320 1,170 $ 6,805* ces Use the following information to answer this question. Windswept, Incorporated. 2022 Income Statement. (in millions) Net sales Cost of goods sold. Depreciation Earnings before interest and taxes. Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 20227 $ 9,950 8,060 495 $ 1,395 116 $ 1,279 448 $ 831 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $290 1,120 1,990 1,785 $3,400 $3,125 3,530 4,150 $ 6,930 $ 7,275 2022 $320 Accounts payable 1,020 Long-term debt Common stock. Retained earnings Total liabilities & equity 2021 $ 1,610 1,160 3,460 700 2022 $1,535 1,360 3,430 950 $ 6,930 $ 7,275
- 3 Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the return on equity for 2021? 2020 $ 8,600 7,290 400 $910 80 $ 830 174 $ 656 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2021 $ 175 700 1,5357 $ 2,410 3,640 $6,050 $ 140 900 1,500 $ 2,540 3,240 $5,780 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,150 990 3,190 450 $ 5,780 2021 $ 1,205 1,255 21890 700 $ 6,050Calculate the common-sized percentage 2023. for Gross Margin inUse the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.78 times 3.33 times 2.25 times 1.31 times 2.64 times 2020 2021 $ 250 890 $ 9,900 7,650 390 $ 1,860 88 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $220 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 $ 1,772 372 $1,400 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675
- Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 2022? Multiple Choice O O .86 times .84 times 1.85 times 2.05 times 1.19 times $ 9,740 7,910 480 2021 $ 260 1,060 1,900 $ 1,350 110 $ 1,240 434 $ 806 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2022 $ 290 960 1,740 $3,220 $ 2,990 3,470 4,060 $6,690 $ 7,050 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,490 2022 $1,460 1,330 1,130 3,400 3,340 670 920 $ 6,690 $7,050Partial Income Statement Excel Exercise Compute the Following ՀԱՐ Sales COGS SG&A Depreciation Debt Int. Rate Tax Rate* 2019 100 40 EBITDA EBIT 25 Interest 10 EBT 0.08 Tax 0.25 Net Income ? ? ? ? ? ? Partial Balance Sheet Debt and Loans 150 Total Equity 150 Total Assets 300 Inv. Change 10 A/R Change A/P Change 35 20 Net Profit Margin Equity Multiplier Verify Dupont ROE ? סיי ? ? ? ? ? * Assume all taxes paid in current period (no accrued taxes) for rest of course CF from Operations ROE Asset Turnover CED Tt O 24Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets Multiple Choice O O O $28.84 O $43.50 O $66.00 $27.00 2021 $43.26 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) $ 140 900 $ 8,650 7,250 300 $ 1,100 70 $ 1,030 309 $ 721 2022 Windswept, Incorporated, has 250 million shares of stock outstanding. Its price-earnings ratio for 2022 is 15. What is the market price per share of stock? $ 155 710 1,520 1,500 $ 2,540 $2,385 3,200 3,650 $ 5,740 $ 6,035 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $1,160 940 3,190 450 2022 $ 1,302 1,118 2,890 725 $5,740 $ 6,035
- Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income (a) 2021 $1,595 900 695 524 171 80 Your answer is incorrect. 91 25 $66 2020 $1,387 $1,208 743 644 411 233 50 183 2019 46 596 612 402 210 40 170 43 $137 $127 Using horizontal analysis, calculate the horizontal percentage of a base-year amount, assuming 2019 is the base year. (Round answers to 1 decimal place, e.g. 5.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1% or parentheses e.g. (45.1) %.)Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings COMPARATIVE BALANCE SHEETS 12/31/25 Sales revenue $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 INCOME STATEMENT For the Year Ended December 31, 2025 12/31/24 $960000 (304000) $8400000 $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash COMPARATIVE BALANCE SHEETS Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 12/31/25 $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 INCOME STATEMENT For the Year Ended December 31, 2025 12/31/24 $960000 (304000) $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000