Question 1: Fill in the blanks Sales $87,000 Cost of Goods Sold (COGS) $28,000 Other Expenses $16,900 Gross Income (a) ? Depreciation Expenses $16,200 EBIT (Earnings before Interest and Taxes) (b)? Interest Expense $5,800 Taxable Income, or EBT (c) ? Taxes (21%) (d) ? Net Income (e) ? Dividends $5,600 Additions to Retained Earnings (f) ?

Question 1: Fill in the blanks Sales $87,000 Cost of Goods Sold (COGS) $28,000 Other Expenses $16,900 Gross Income (a) ? Depreciation Expenses $16,200 EBIT (Earnings before Interest and Taxes) (b)? Interest Expense $5,800 Taxable Income, or EBT (c) ? Taxes (21%) (d) ? Net Income (e) ? Dividends $5,600 Additions to Retained Earnings (f) ?

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?
Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.
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 $7,050
You have the following income statement data: Sales Cost of goods sold (Depreciation not included) Depreciation $100 Interest expense $60 Tax rate 30% Calculate net income. Round your answer to 2 decimal points; example 234.12. Your Answer: $850 $499 Answer
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Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Het 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 2021 What is the equity multiplier for 20227 $11,100 8,050 430 $ 2,620 104 $2,516 881 $ 1,635 Windswept, 2921 and 2022 Balance Sheets. (in millions) 2022 $300 1,150 1,050 2,060 1,775 $ 3,510 $3,155 3,520 4,120 $7,030 $7,275 $ 330 porated Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $1,870 1,090 3,400 670 2022 $1,932 1,373 3,050 920 $7,030 $7,275.
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Net Income Interest (Loss) $ 185, 000 179, 600 157, 250 188, 100 Expense $ 59,200 80, 820 Income Taxes a. $ 46, 250 b. 64, 656 66,045 90, 288 C. 44, 030 11, 286 d. Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? Complete this question by entering your answers In the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Times Interest Earned Ratio Company Choose Numerator: Choose Denominator: Ratio %3D %3D times times times !! times !! Interest Coverage >
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 $ 9,710 7,990 475 $ 1,245 114 $ 1,131 396 $ 735 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 Total assets What is the days' sales in receivables for 2022? Cash Accounts receivable Inventory Total $ 3,290 $ 3,025 3,530 4,050 Net fixed assets $ 6,820 $ 7,075 $ 270 $ 300 Accounts payable $ 1,550 1,080 1,940 1,745 980 Long-term debt Common stock Retained earnings Total liabilities & equity $ 6,820 $ 7,075 1,160 3,460 650 2022 $ 1,785 1,330 3,060 900