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

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The following are financial statements of Carla Vista Co.. Carla Vista Co.Income StatementFor the Year Ended December 31, 2022 Net sales $2,247,500 Cost of goods sold 1,018,500 Selling and administrative expenses 901,000 Interest expense 82,000 Income tax expense 75,000 Net income $ 171,000 Carla Vista Co.Balance SheetDecember 31, 2022 Assets Current assets Cash $ 56,300 Debt investments 81,000 Accounts receivable (net) 169,500 Inventory 118,900 Total current assets 425,700 Plant assets (net) 574,000 Total assets $ 999,700 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 161,000 Income taxes payable 37,000 Total current liabilities 198,000 Bonds payable 201,880 Total liabilities 399,880 Stockholders’ equity Common stock 355,000 Retained earnings 244,820…
Philly Corporation Philly Corporation Income Statement Comparative Account Information Relating to Operations For the Year Ended December 31, 2020 For the Year Ended December 31, 2020 2020 2019 Sales Revenue 680,000 Accounts receivable -net 78,000 65,000 Cost of goods sold 355,000 Prepaid insurance 5,000 6,000 Salaries expense 50,000 Equipment 111,100 122,400 Depreciation expense equipment 6,800 Accumulated Depreciation 13,800 14,600 Interest expense 8,000 Land 56,000 36,000 Bad debt expense 2,400 Accounts Payable 59,000 47,000 Loss on sale of equipment 4,800 Interest payable 600 1,500 Miscellaneous…
What are the firm’s net profit margins for 2018 and 2019? Income Statements ($ in millions) Balance Sheets ($ in millions) 2018 2019 Assets 2018 2019 Sales Revenue $2,580 $2,865 Cash $70 $50 Less: Cost of goods sold $1,060 $1,500 Short-Term investments $35 $9 Less: Operating Expenses $105 $162 Accounts rec. 400 460 Less: Depreciation $85 $80 Inventory 490 556 Earnings before interest and taxes $1,330 $1,123 Total Current Assets $995 $1,075 Less: Interest paid $350 $380 Net fixed assets 1890 1,910 Taxable Income $980 $743 Less: Taxes (40%) $392 $297 Total assets $2,885 2,985 Net income $588 $446 Liabilities and Owner's Equity Dividends (45%) $265 $201 2018 2019 Additions to Retained Earnings $323 $245 Accounts payable $240 $210 Accruals $20 $20 Notes payable 65 74 Total Current…
What are the firm's days' sales outstanding for 2018 and 2019? Income Statements ($ in millions) Balance Sheets ($ in millions) 2018 2019 Assets 2018 2019 $1,265 | Cash $780 Short-Term investments $92 | Accounts rec. Sales Revenue $1,180 $35 $20 $660 $20 $5 Less: Cost of goods sold Less: Operating Expenses Less: Depreciation Earnings before interest and taxes Less: Interest paid $75 190 235 $50 Inventory $343 Total Current Assets $40 250 300 $405 $495 $560 $170 $150 | Net fixed assets 990 1,105 Taxable Income $235 $193 Less: Taxes (40%) $94 $77 Total assets $1,485 1,665 Net income $141 $116 Liabilities and Owner's Equity Dividends (45%) Additions to Retained Earnings $63 $52 2018 2019 $78 $64 Accounts payable $125 $100 Accruals $10 $10 Notes payable 35 40 Total Current Liabilities $170 $150 Long-term debt 598 790 Total Liabilities $768 $940 Common stock 554 498 Retained earnings Total Equity Total liab.& equity 163 $227 717 $725 $1,485 $1,665
he following information is related to the Doll Pty Ltd. Description 2018 2020 Total revenues (Sales) $2,580 $5,880 Total assets: Beginning of year 1,200 2,290 End of year 1120 2,381 The ratio of sales to assets for 2018 and 2020 will be: Select one: a. 2.22 And 2.52 b. 2.30 And 2.47 c. 1.11 And 1.26 d. 2.15 And 2.56
The following information is related to Splish Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $1,332,800 34,000,000 21,760,000 95,200 6,392,000 1,115,200 1,691,840 149,600 530,400 598,400 122,400 340,000 108,800 Splish Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Splish sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.
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
What is Naboo Manufacturing's 2019 Current Ratio?
1. During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 Operating expenses of $68,000 Interest expense of $4,000 Depreciation Expense of $13,000 During the year Target Corporation paid: 50% of net income in dividends 21% in corporate taxes a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Include the dividend and additions to Retained Earnings below the income statement. b. Calculate Target's Operating Cash Flow beneath the Income Statement. 2. The following data refers to the 2021 year-end account balances for Target. However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order. $ Accounts Payable 25,000 Accounts Receivable 16,000 Accumulated Depreciation 175,000 Cash 44,000 Common Stock 120,000 Fixed Assets (gross) 390,000…
Compute NET Profit margin ratio
Caesar Limited The Statement of Comprehensive Income of Caesar Limited for the year to 31st December 2021 is shown below. The company's statement of financial position as of that date (with comparative figures for 2020) is also shown. Caesar LimitedStatement of Comprehensive Income for the year to 31st December 2021 2021 £'000 Sales 4,450 Cost of sales (2,738) Gross profit 1,712 Administration and distribution expenses (980) Interest payable (740) Dividend received 649 Profit before tax 641 Taxation (200) Profit after tax 441 Caesar Limited Statements of Financial Position as at 31 December 2021 and 2020 2021 2020 £'000 £'000 ASSETS: Non-current assets Property, plants and equipment 3,450 3,340 Investments 840 840 4,290 4,180 Current assets Inventories 790 588 Trade receivables 423 541 Cash at bank 621 1,834 --- 1,129 6,124…

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