Problems 827 Wal-Mart Stores, Inc. Target Corporation Total assets Total stockholders' equity Current liabilities Total liabilities Beginning-of-Year Balances $151,587 61,573 52,148 $37,349 15,633 11,117 21,716 90,014 Average net accounts receivable Average inventory Net cash provided by operating activities Other Data $ 7,124 6,517 4,125 $ 3,247 34,433 20,354 Instructions (a) For each company, compute the following ratios. (1) Current ratio. (2) Accounts receivable turmover. (3) Average collection period. (4) Inventory turnover. (7) Asset turnover. (8) Return on assets. (9) Return on common stockholders' equity. (10) Debt to assets ratio. (5) Davy in inventory (11) Times interest earned
Q: Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:…
A: The receivable turnover is calculated as ratio of credit sales and average receivables
Q: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash Marketable…
A: Through ratio analysis, companies can evaluate both their financial strengths and weaknesses.…
Q: Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION…
A: The ratio is the technique used by the prospective investor or an individual or strategist to read…
Q: Miscellaneous financial information Amount Retained earnings 786 Total stockholders’ equity 14,971…
A: Financial statement analysis:Financial statement analysis refers to the analysis of financial…
Q: Long-term solvency ratios Total debt ratio Debt-equity ratio Equity multiplier Times interest earned…
A: Long-term solvency ratio:- It is calculated to check the firm's long-term ability to meet its…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: Formula: Current ratio = Current Assets / Current liabilities. Current Assets is divided with…
Q: At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant…
A: The ratio analysis helps to analyse the financial statements of the business on the basis of various…
Q: Assets Cash $ 58,900 $ 79,500 Accounts receivable 74,830…
A: The cash flow statement assesses a corporation's ability to handle its cash balance, or how…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: Ratio analysis involves evaluation of various financial aspects of the business such as liquidity,…
Q: Selected current year-end financial statements of Cabot Corporation follow. (All sales were on…
A: Ratio Analysis -The ratio is the technique used by the prospective investor or an individual or…
Q: Privett Company Accounts payable $25,346 Accounts receivable 66,175 Accrued liabilities 6,346 Cash…
A: Quick ratio is calculated by dividing Quick Assets with current liabilities. Calculation of Quick…
Q: Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:…
A:
Q: At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant…
A: The Ratio Analysis Is Performed To Analyze The Financial Statements Of The Business On The Basis Of…
Q: Common-Size Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an…
A: A common-size balance sheet is a balance sheet or you may call it a financial statement that…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A:
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: Working capital :— It is the difference between current assets and current liabilities. Current…
Q: Problem 11-12 (Algo) Effect of transactions on liquidity measures LO 1 Selected balance sheet…
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…
Q: Assets Cash $ 58,900 $ 79,500 Accounts receivable 74,830…
A: Since, you have asked specifically for the top portion of the problem, we have solved the same for…
Q: Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented…
A: Receivable turnover ratio is calculated by dividing the net credit sales by the average receivable.…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: Cash Accounts receivable Inventory Plant and equipment Assets Total assets a. b. C. BRYAN…
A: Current ratio and quick ratio measure the liquidity of the firm. The formulas for these are: Current…
Q: Selected balance sheet accounts for Tibbetts Company on September 30, 2019, are as follows:…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Assets Liabilities and Owners' Equity 2020 2021 2020 2021 Current Assets…
A:
Q: CABOT CORPORATION Balance Sheet December 31 Assets Liabilities and Equity Cash $ 10,000…
A: Since you have posted a question with multiple sub-parts , we will do the first three sub-parts for…
Q: Ratio AnalysisPresented below are summary financial data from Pompeo’s annual report: Amounts…
A: a. Times Interest Earned Ratio38.35 times b. Quick Ratio0.77 c. Current Ratio 1.00…
Q: Consider the following financial data for Terry Enterprises: Balance Sheet as of December 31,…
A: In the given question, we have been provided with the industry average ratios on the basis of which…
Q: . 6. 1. Prepare the balance sheet for Year 1 2. Prepare the statement of cash flows for Year 1.
A: Profit and loss account, balance sheet and cash flow statement are the three main financial…
Q: presented
A: Introduction: The financial performance of the companies can be analyzed with the help of ratios as…
Q: Lloyd Inc. has sales of $700,000, a net income of $70,000, and the following balance sheet: Cash…
A: In this question we are require to calculate the ROE and quick ratio. Lets start with basic…
Q: Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION…
A: The debt-equity ratio is the ratio that is helpful in evaluating the financial leverage of the…
Q: Current Position Analysis The following data were taken from the balance sheet of Albertini Company…
A: Working capital, which comprises inventory, cash, accounts payable, accounts receivable, and…
Q: Cash and marketable securities $28,987 Accounts payable and accruals $154,807 Accounts receivable…
A: 1. Current ratio The current ratio is a type of liquidity ratio which measures a firm capability to…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: a Current Year Previous Year Total current assets 1,856,000 1,300,000 Less: Total…
Q: Comparative Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an…
A: Balance sheet is the financial statement which is prepared by the entity for the purpose of…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses…
A: For accounting purposes, financial ratios are a measure of liquidity, profitability, capital gearing…
Q: Accounts receivable, net Merchandise inventory Prepaid expenses Property, plant and equipment, net…
A: Hi studentSince there are multiple subparts asked, we will answer only first three subparts.Ratio…
Q: Cash $59,000 $23,500 Accounts receivable 43,000 25,500 Inventory…
A: Cash flows statement includes: Cash flows from operating activities Cash flows from investing…
Q: MONTGOMERY INC.Comparative Balance SheetsDecember 31 Current Year Prior Year Assets…
A: MONTGOMERY INC. Cash flow statement For the year ended 31 December Particulars…
Q: Miscellaneous financial information Amount Retained earnings 786 Total stockholders' equity 14, 971…
A: Ratio analysis means where different ratio of various years of years companies has been compared and…
Q: Liabilities and Stockholders' Equity Current liabilities $67,513 Long-term liabilities 90,221 Common…
A: Given, Cash and short-term investments = $35,766 Accounts receivable (net) = $32,541 Inventory =…
Q: Privett Company Accounts payable Accounts receivable Accrued liabilities Cash $34,824 71,366 6,577…
A: Quick assets can be converted into cash quickly. It is different from current assets that include…
Q: What is the times interest earned ratio for year 7?
A: Information Provided: Operating Income = $1,094,129 Interest expense = $55,240 Times Interest…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: The ratio analysis is performed by the companies to compare the financial statements of the business…
Step by step
Solved in 4 steps
- Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $620,200 $495,600 Marketable securities 718,100 557,600 Accounts and notes receivable (net) 293,700 185,800 Inventories 314,200 179,900 Prepaid expenses 161,800 115,100 Total current assets $2,108,000 $1,534,000 Current liabilities: Accounts and notes payable (short-term) $394,400 $413,000 Accrued liabilities 285,600 177,000 Total current liabilities $680,000 $590,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4…Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Total assets Total stockholders' equity Current liabilities Target Corporation Income Statement Data for Year $65,357 45,583 15,101 707 (94) 1,384 $ 2,488 $18,424 26,109 Balance Sheet Data (End of Year) $44,533 $11,327 17,859 15,347 Walmart Inc. $44,533 $408,214 304,657 79,607 10,512 2,065 (411) 7,139 $ 14,335 $48,331 122,375 $170,706 $55,561 44,089 71,056 $170,706 Beginning-of-Year Balances $44,106 13,712 $163,429 65,682 55,390IKIBAN INCORPORATED Comparative Balance Sheets 2021 At June 30 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation Equipment Total assets Notes payable (long term) Total liabilities. Equity Common stock, $5 par value Retained earnings. Total liabilities and. equity Liabilities and Equity) Accounts payable Wages payable Income taxes payable. Total current liabilities 39,200 Sales Cost of goods sold. Gross profit $ 105,100 71,000 67,800 4,800 248,700 128,000 (29,000) $ 347,700 Cash flows from operating activities $ 29,000 6,400 3,800 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Operating expenses (excluding depreciation) Depreciation expense: Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income Cash flows from investing activities 228,000 46,500 $ 347,700 Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end…
- Question Content Area The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $41,912 Accounts receivable (net) 29,707 Inventory 28,654 Property, plant and equipment 293,074 Total Assets $393,347 Liabilities and Stockholders' Equity Current liabilities $58,253 Long-term liabilities 97,633 Stockholders' equity-common 237,461 Total Liabilities and stockholders' equity $393,347 Income Statement Sales $80,900 Cost of goods sold 36,405 Gross margin $44,495 Operating expenses 25,209 Net income $19,286 Number of shares of common stock 6,546 Market price of common stock $35 What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer. 1.23 2.22 0.72 1.72balance sheets Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term notes payable Common stock, $5 par value Retained earnings Total liabilities and equity Problem 13-5A (Algo) Part 1 $ 19,500 37,400 84,640 5,900 350,000 $ 497,440 $ 33,000 56,400 134,500 6,900 304,400 $ 535,200 $ 68,340 86,800 190,000 152,300 $ 497,440 $ 535,200 $ 91,300 115,000 206,000 122,900 statement Sales Cost of goods sold Interest expense Income tax expense Net income Basic earnings per share Cash dividends per share Beginning-of-year balance sheet data Accounts receivable, net Merchandise inventory Total assets Common stock, $5 par value Retained earnings Required: 1a. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) invent sales in inventory, and () days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company…Problem 11-12 (Algo) Effect of transactions on liquidity measures LO 1 Selected balance sheet accounts for Tibbetts Company on September 30, 2019, are as follows: Cash $ 48,000 Marketable securities 135,000 Accounts receivable, net 165,000 Inventory 187,500 Prepaid expenses 21,000 Total current assets $ 556,500 Accounts payable $ 108,000 Other accrued liabilities 26,400 Short-term debt 48,000 Total current liabilities $ 182,400 Required: Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30, 2019. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare journal entries for the below transactions and Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for increase, − for decrease, and (NE) for no effect. Credit sales for the year amounted to…
- Presented below is selected financial data for Teague Industries for the current year: Current assets: Current liabilities Cash and cash equivalents $3503 Accounts payable $5385 Short-term investments 1555 Other current liabilities 2892 Receivables, net 1811 Total current liabilities 8277 Merchandise inventories 6205 Noncurrent liabilities 5196 Other current assets 1975 Shareholders' Equity 6250 Total current assets 15,049 Total liabilities and shareholders' equity $19,723 Noncurrent assets 4674 Total assets $19,723 Revenues $50,826 Costs and Expenses 45,963 Operating Income 4,863 Other income/expense (including interest expense of $60) (36) Income before income tax 4827 Income tax expense (1449) Net income $3378 Previous Years' Financial Data Total Assets $17,020 Shareholders' Equity 4000 The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $486,400 $392,000 Marketable securities 563,200 441,000 Accounts and notes receivable (net) 230,400 147,000 Inventories 792,000 469,700 Prepaid expenses 408,000 300,300 Total current assets $2,480,000 $1,750,000 Current liabilities: Accounts and notes payable (short-term) $464,000 $490,000 Accrued liabilities 336,000 210,000 Total current liabilities $800,000 $700,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4…Assets Cash $ 15,050 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable 8,260 13,400 11,100 165,500 (12,000) $201,310 $ 8,180 3,880 4,350 Common stock Retained earnings 21,480 113,900 49,520 $ 201,310 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,400. Required Compute each of the following: Note: Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45. a. Current ratio per share b. Earnings per share c. Quick (acid-test) ratio d. Return on investment + % % e. Return on equity f. Debt to equity ratio
- Question 1 The following are financial statements of Crane Company. Crane CompanyIncome StatementFor the Year Ended December 31, 2022 Net sales $2,192,500 Cost of goods sold 1,010,500 Selling and administrative expenses 900,500 Interest expense 78,000 Income tax expense 62,500 Net income $ 141,000 Crane CompanyBalance SheetDecember 31, 2022 Assets Current assets Cash $ 55,100 Debt investments 89,000 Accounts receivable (net) 168,400 Inventory 236,500 Total current assets 549,000 Plant assets (net) 572,500 Total assets $ 1,121,500 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 152,000 Income taxes payable 31,000 Total current liabilities 183,000 Bonds payable 220,740 Total liabilities 403,740 Stockholders’ equity Common stock 345,000 Retained earnings 372,760…The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (24%) CROSBY, INCORPORATED 2021 Income Statement Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory $31,335 69,745 $ 20,640 43,580 91,960 $747,000 582,000 18,000 FA $147,000 14,000 $ 133,000 31,920 $ 101,080 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Seved Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total $ 54,800 14,000 $ 68,800 MA000Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 31,600 88,000 112,500 10,650 281,000 $523,750 $ 36,250 $ 38,400 62,000 83,800 9,350 249,500 $440,900 $ 379,900 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 49,500 52,500 4,500 235,000 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $128,400 $ 74,750 $ 50,800 97,000 160,500 137,850 98,250 160,500 107,400 81,600 160,500 87,000 Total liabilities and equity $523,750 $440,900 $ 379,900 ces The company's income statements for the Current Year and 1 Year Ago, follow. 1 Yr Ago For Year Ended December 31 Sales Current Yr $755,000 $ 620,000 Cost of goods sold other operating expenses Interest expense $445,450 234,050 11,300 9,550 $390,600 148,800 12,700 8,925 Income tax expense Total costs and expenses 700,350 561,025 Net income $ 54,650 $…