Provided below are the financial statements for J Ltd.:Income statementBalance SheetNet sales$98420212020AssetsCost of goods sold$752Current assets$452 $354Depreciation$27Long-term assets$389$374EBIT$205 Total assets$841$728Interest expense$25Liabilities and shareholders' equityCurrent liabilities$247$164Income before taxes$180Long-term debt$157$145Taxes$27Shareholders' equity$437$419Net income$153 Total liabilities and shareholders' equity$841$728Calculate economic value added (EVA), assuming cost of capital is 7.5%. (Round all the intermediate calculations and the final answer to 2 decimal places)$131.95$135.70$98.40$129.70

Economic Value Added (EVA) is a measure of a company's financial performance based on the residual…

Answered: Provided below are the financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation Taxable income Taxes (22%) Earnings before interest and taxes Interest paid Net income Dividends Retained earnings 2020 $35,585 $38,940 28,846 43,112 18,401 3,970 SMOLIRA GOLF CORPORATION 2021 Income Statement a. Price-earnings ratio b. Dividends per share c. Market-to-book ratio d. PEG ratio SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $57,956 $110,898 $ 465,585 $ 27,000 37,022 Accounts payable Notes payable Other $ 521,433 Total $ 523,541 $ 632,331 Total liabilities and owners' equity Long-term debt times Owners' equity Common stock and paid-in surplus Accumulated retained earnings times times Total $ 512,454 363,528 45,963 $102,963 20,883 $ 82,080 18,058 $ 64,022 Smolira Golf Corporation has 52,000…
Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses (including interest on bonds) Pretax income Income tax Net income Balance Sheet Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Property and equipment (net) Total assets Accounts payable Income taxes payable Bonds payable (interest rate: 10%) Common stock ($10 par value, 10,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 $453,000 250,000 203,000 167,000 36,000 10,800 $ 25,200 $ 6,800 42,000 25,000 200 130,000 $204,000 $ 17,000 1,000 70,000 100,000 16,000 $204,000 Year 1 $447,000 241,000 206,000 168,000 38,000 11,400 $ 26,600 $ 3,900 29,000 18,000 100 120,000 $171,000 $ 18,000 1,000 50,000 100,000 2,000 $171,000 Required: Interpret each element of the ratio analysis separately. Ensure accuracy by analyzing each ratio individually!
Presented below are the comparative income and retained eamings statements for Buffalo Inc. for the years 2020 and 2021. 2021 2020 Sales $314,000 $272,000 Cost of sales 200,000 147,000 Gross profit 114,000 125,000 Еxpenses 94,500 52,700 Net income $19,500 $72,300 Retained earnings (Jan. 1) $116,900 $70,700 Net income 19,500 72,300 Dividends (27,000 ) (26,100 ) Retained earnings (Dec. 31) $109,400 $116,900 The follawing additional information is provided: In 2021, Buffalo Inc. decided to switch its depreciation method from sum-of-the-years' digits to the straight-line method. The assets were purchased at the beginning of 2020 for $98,000 with an estimated useful life of 4 years and no salvage value. (The 2021 income statement contains depreciation expense of $29,400 on the assets purchased at the beginning of 2020.) 1. In 2021, the company discovered that the ending inventory for 2020 was overstated by $24,100; ending inventory for 2021 is correctly stated. 2. Prepare the revised…
15 )
How much net income did Wolf Enterprises earn during 2021? Net income for 2021 was Cost of services sold Accumulated depreciation Selling, general, and administrative expenses Retained earnings, December 31, 2020 $ 14,500 Service revenue 40,800 Depreciation expense Other revenue 6,100 Dividends declared Income tax expense 2,700 Income tax payable 32,400 4,200 700 700 500 1,100
Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74
Help me pls
Presented below is information related to Novak Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,664,000 998,400 83,200 61.440 25.600 8,960 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $102,400 70,400 64,000 57,600 1.254,400 Was Tom Brady's set out the Prepare a multiple-step income statement for 2020. Assume that 97.280 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, eg.1.49)
Compute NET Profit margin ratio
Please Prepare The Income Statement !
[The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. Comparative Income Statements For Years Ended December 31 KORBIN COMPANY Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Numerator: 2021 2020 2019 $ 548,688 $ 420,340 $ 291,700 330,310 263,974 186,688 218,378 156,366 Common stock Other paid-in capital Retained earnings Total liabilities and equity 1 1 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 1 1 1 December 31 2021 $ 62,574 0 Current Ratio $25,844 65,000 8,125 78,043 Required: 1. Complete the below table to calculate each year's current ratio. $ 41,881 1,200 103,962 $ 55,985 3,920 114,438…
Below are extracts from the financial statements of Charlton Ltd: Statement of profit or loss for the year ended 31 December 2020 Revenue 214,550 Cost of sales (182,000) Gross profit 32,550 Investment income 4,760 Loss on disposal (40) (6,300) (3,500) Distribution costs Administrative expenses Profit from operations 27,470 Finance costs (2,800) Profit before tax 24,670 (2,100) 22,570 Income tax expense Profit for the period Statements of financial position 31 December 2020 31 December 2019 Assets Non-current assets Property, plant and equipment 15,920 5,950 Investments 17,500 17,500 33,420 23,450 31 December 2020 31 December 2019 Assets Non-current assets Property, plant and equipment 15,920 5,950 Investments 17,500 17,500 33,420 23,450 Current assets Inventories 7,000 13,650 Trade and other receivables 13,300 8,400 Cash and cash equivalents 2,870 1,120 23,170 23,170 Total assets 56,590 46,620 Equity and liabilities Capital and reserves Share capital 7,000 6,300 Share premium Retained…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS