Q2) Consider the financial statement of Kmart given in the table below.KmartIncome StatementNet operating revenuesCost of goods soldGross ProfitSelling, general and administrative expensesOperating incomeInterest expenseOther income (loss)- netIncome before taxesIncome taxesOther expensesNet incomeBalance SheetAssetsCash and cash equivalentsShort term investmentsNet receivablesInventoriesTotal current assetsProperty, plant and equipmentGoodwillOther assetsTotal assetsLiabilities and Stockholder EquityAccounts payableShort-term debtOther current liabilityTotal current liabilityLong-term debtOther liabilitiesTotal liabilitiesStockholder equity20102009734800 647000548400 486500186500 160600143300 12410043200 365003800350040050039800 33500129001150011006002590021500201014300200911700007500630059700553008700078400184200 153100291002450071005800307300 2615002010910008900200200976300123002001001007630065600 553001390012500179400 15640095004300 B.A. () Calculate the financial ratios of Kmart in 2010 and 2009. Show yourworkingsFinancial Ratio1. Return on Equity (ROE)2. Return on Asset (ROA)3. Percentage of assets investedin inventory (PII)4. Inventory Turnover (INVT))5. Days of inventory (DOI)6. Days sales outstanding (DSO)7. Days purchases outstanding(DPO)8. Cash-to-cash Cycle (C2C)Formula201020095,000,0821,15%8,8041,493,5557,24-12,20)Analyze the change between the years 2009 and 2010 in terms of financialratios. Which financial ratios would you check to evaluate the performance ofinventory management and cash management? Which year is better in terms ofinventory management and cash management?

Ratio analysis It is a quantitative method of measuring the company's liquidity, efficiency and…

Q2) Consider the financial statement of Kmart given in the table below. Kmart Income Statement Net operating revenues Cost of goods sold Gross Profit Selling, general and administrative expenses Operating income Interest expense Other income (loss)- net Income before taxes Income taxes Other expenses Net income Balance Sheet Assets Cash and cash equivalents Short term investments Net receivables Inventories Total current assets Property, plant and equipment Goodwill Other assets Total assets Liabilities and Stockholder Equity Accounts payable Short-term debt Other current liability Total current liability Long-term debt Other liabilities Total liabilities Stockholder equity 2010 2009 734800 647000 548400 486500 186500 160600 143300 124100 43200 36500 3500 500 33500 11500 600 21500 3800 400 39800 12900 1100 25900 201 14300 0 0 7500 6300 59700 55300 87000 78400 153100 24500 5800 307300 261500 184200 29100 7100 2009 11700 2010 2009 91000 76300 8900 12300 200 200 100100 76300 65600 55300 13900 12500 179400 156400 9500 4300

Q2) Consider the financial statement of Kmart given in the table below. Kmart Income Statement Net operating revenues Cost of goods sold Gross Profit Selling, general and administrative expenses Operating income Interest expense Other income (loss)- net Income before taxes Income taxes Other expenses Net income Balance Sheet Assets Cash and cash equivalents Short term investments Net receivables Inventories Total current assets Property, plant and equipment Goodwill Other assets Total assets Liabilities and Stockholder Equity Accounts payable Short-term debt Other current liability Total current liability Long-term debt Other liabilities Total liabilities Stockholder equity 2010 2009 734800 647000 548400 486500 186500 160600 143300 124100 43200 36500 3500 500 33500 11500 600 21500 3800 400 39800 12900 1100 25900 201 14300 0 0 7500 6300 59700 55300 87000 78400 153100 24500 5800 307300 261500 184200 29100 7100 2009 11700 2010 2009 91000 76300 8900 12300 200 200 100100 76300 65600 55300 13900 12500 179400 156400 9500 4300

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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ASSETS Cash Accounts receivable Inventory Net plant and equipment Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity Sales (all on credit) Cost of goods sold Gross profit Sales and administrative expenses Depreciation Operating profit Interest expense Profit before taxes Taxes (30%) Net income Multiple Choice O Refer to the tables above. What Is Megaframe Computer's total asset turnover? O MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 O 7.58x 3.6x 2x 1.94x $ 875,000 600,000 $ 275,000 30,000 55,000 $ 190,000 25,000 $ 165,000 49,500 $ 115,500 $ 50,000 70,000 110,000 220,000 $ 450,000 $ 70,000 50,000 130,000 70,000 40,000 90,000 $ 450,000
Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
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B4.
B 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 Total liabilities Average net accounts receivable Average inventory Net cash provided by operating activities Capital expenditures Cash dividends paid 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Ratio Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory Profit margin Asset turnover Return on assets Debt to assets ratio Walmart Inc. Income Statement Data for Year Times interest earned Target Corporation Return on common stockholders' equity Free cash flow $66,900 44,000 14,400 750 (95) 1,500 $6,155 $17,000 26,800 $43,800 Balance Sheet Data (End of Year) $10,000 17,300 16,500 $43,800 13,400 10,000…
Assets Current assets Cash and cash equivalents Accounts receivable, net Supplies Other current assets Total current assets Property and equipment Accumulated depreciation Net property and equipment Goodwill Deferred charges Other Total assets Liabilities and equity Current liabilities Accounts payable Accrued liabilities Current maturities of long-term debt Total current liabilities Operating lease liabilities non-current Long-term debt Other non-current liabilities Total liabilities Total liabilities Common stock Cummulative dividends Retained earnings Other Total equity Total liabilities and equities Revenue, net Operating charges Salaries, wages, and benefits Other operating expenses Supplies expense Depreciation and amortization Lease and rental expense Total operating charges Income from operations Interest expense, net Other (income) expense, net Income before income taxes Provision for income taxes Net income $61,268 1,560,847 Cost of debt (%) Cost of equity (%) Weighted…
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