Question 13 Beta Corporation reported the following information for fiscal 2017 and 2016. December 31 2016 $153,211 Operating assets Operating liabilities Net Non-operating Obligations (NNO) Net operating profit after tax (NOPAT) Interest Expenses Net Income Tax rate 2017 $164,101 120,785 O$26,096 $33,371 32,040 33,371 4,500 30,446 35% 114,836 2,5500 31,742 3,905 29,204 35% What are the company's free cash flows to the equity (FCFE) for 2017? O $13,016 $19,556
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- E 18-1 Comprehensive The following is from the 2018 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December 31 income • LO18-2 2018 2017 2016 Net income $856 $766 $594 Other comprehensive income: Change in net unrealized gains on investments, net of tax of $22, ($14), and $15 in 2018, 2017, and 2016, respectively 34 (21) 23 Other (2) $888 (1) $744 $618 Total comprehensive income Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders equity as follows: ($ in millions) 2018 2017 Shareholders' equity: Common stock 355 355 Additional paid-in capital Retained earnings Accumulated other comprehensive income 8,567 6,544 8,567 5,988 107 75 Total shareholders'equity $15,573 $14,985 Required: 1. What is comprehensive income and how does it differ from net income? 2. How is comprehensive income reported in a balance sheet? 3. Why is Kaufman's 2018 balance sheet amount different from the 2018 amount…X Company collected P12350 in interest during 2019 X showed P1,850 in interest on its December 31, 2021 statement of financial position and P5,300 on December 31, 2020 How much is the Interest Revenue to be reported on X's statement of comprehensive income in 2021?Exercise 19-21 The pretax financial income (or loss) figures for Kingbird Company are as follows. 74,000 (50,000) (40,000) 113,000 99,000 2017 2018 2019 2020 2021 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2017 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit 2017 2018
- 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 1,006 211.26 794.74Module pute Net Operating Profit after Tax Refer to the balance sheet information below for Home Depot. Feb. 3, 2019 Jan. 28, 2018 $35,891 $34,794 1,511 3,056 $37,402 $37,850 $14,177 $13,640 24,822 22,974 $38,999 $36,614 Operating assets Nonoperating assets Total assets $ millions Operating liabilities Nonoperating liabilities Total liabilities Net sales Operating expense before tax Net operating profit before tax (NOPBT) Other expense Income before tax Tax expense Net income Assume a statutory tax rate of 22%. a. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = Net income + NNE Net income NNE NOPAT $ 9,453 $ $ $91,973 78,772 13,201 828 12,373 2,920 $9,453 7,361 * $ 16814 b. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = NOPBT - Tax on operating profit NOPBT Tax on operating profit 7,361 * $ 10,296.78 x $ NOPAT -2936Problem 17-6AA (Algo) Income statement computations and format LO A2 [The following information applies to the questions displayed below] Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Assume that the company's income tax rate is 40% for all items. a. Interest revenue. b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable. e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss from operating a discontinued segment (pretax) j. Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings B. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit p. Income tax expense q. Cost of goods sold Debit $ 35,400 27,250 107,800 19,650 53,400 17,400 25,150 496,500 Credit $…
- QUESTION SIX The following financial statements relate to ZB Plc. ZB PLC Statement of comprehensive Income for the year ended 31st December: 2021 2020 K'000 K'000 Revenue 3,068,959 2,305,425 Cost of sales -2,024,857 -1,346,701 Gross profit 1,044,102 958,724 Other expenses -244,307 -458,473 Net impairment credit on financial assets 12,291 3,002 Distribution costs -208,749 -178,028 Administrative expenses -413,157 -302,323 Operating profit 190,180 22,902 Finance Income 2,978 1,557 Interest Expense -86,936 -15,974 Profit before income tax 106,222 8,485 Income tax credit (expense) 41,730 -2,546 Profit for the year 147,952 5,939 Other comprehensive income Total comprehensive income for the year 147,952 5,939 ZB PLC Statement of Financial Position as at 31st December:…INSTRUCTIONS Section 1- Financial Analysis FSA Company's Summary Financial Data (In billions, except per share data) 2020 2019 2018 2017 2016 Net Sales 30.20 29.70 29.10 29.40 28.50 Gross Profit 16.10 17.30 17.20 16.80 16.60 Operating Income Net Income 12.50 12.90 12.10 12.70 12.80 11.90 0.90 12.80 11.60 11.80 1.70 11.80 Restructuring charge (after tax) Net Income before restructuring Op Income before restructuring 1.30 1.00 0.50 L10 12.80 12.90 1390 12.90 12.20 13.80 13.90 13.00 13.20 17.80 20.90 14.40 13 50 5.00 Total Assets 21.00 19.00 18.30 Total Liabilities 15.00 13.80 12.60 Long Term Debt Shareholder Equity Treasury Stock at cost 6.60 6.00 6.00 5.20 5.40 6.50 5.70 5.50 5.20 4.00 3.50 6. 10 5.30 5.20 29 32 28.54 28 29 28.04 Basic Earnings per share. Cash Dividends per share 29.00 14.50 14.20 14.00 13.60 13.00 53.00 Closing Stock Price Shares Outstatiding (billions) 75.00 63.00 64.00 69.00 0.40 0.41 0.42 0,41 0 42 Using the above information, kindly prepare the following: a)…Required information Problem 17-6AA (Algo) Income statement computations and format LO A2 [The following information applies to the questions displayed below.] Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Assume that the company's income tax rate is 40% for all items. a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss from operating a discontinued segment (pretax) j. Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings m. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit p. Income tax expense q. Cost of goods sold. Problem 17-6AA (Algo) Part 4 4. What is the amount of…
- BKW Current Asset Current Liabilities Total Liabilities Total Assets 2016 344,168 145,498 678,726 2,517,211 2017 356,979 160,215 752,063 2,719,903 2018 368,473 177,655 804,059 2,875,137 2019 495,024 261,798 925,626 3,092,984 2020 637,416 232,882 1,428,922 3,832,933 2021 579,863 268,282 1,546,085 4,025,832 BKW Net Cash Provided by operating activities Operating Income Before Tax Finance Costs Cash and cash eqiv & Accounts receivables 2016 148,507 121,756 - 14,080 19,641 + 133,225 2017 115,422 256,583 - 12,436 19,641 + 133,225 2018 170,948 244,453 - 14,456 21,167 + 122,216 2019 123,080 314,475 - 23,883 74,881 + 133,319 2020 75,259 417,117 - 26,452 187,109 & 129,024 2021 139,795 347,363 - 22,095 139,825 & 132,447 All the figures are in millions. Please calculate: current…ect Assignment The preliminary 2024 income statement of Alexian Systems, Incorporated, is presented below: ALEXIAN SYSTEMS, INCORPORATED Income Statement. For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains. Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 435 6 128 569 247 158 41 446 $123 $ 12.30 Saved Help Additional information: 1. Selling and administrative expense includes $28 million in restructuring costs. 2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $8 million is from the gain on sale of investments. 3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.…Exercise 5-9 During the next fiscal year ending June 30. 2020, Texas Company will mmake substantial investments in new product lines and in a modernization program. Significant changes to be made during the year are listed below: 1. Equipment with a net b0ok value of P86,000 will be sold during the year. 2. All of the capital stock of Ohio Company will be exchanged with 5,000 shares of Texas Company at a time when the market value is P40 per share. P250,000 cash will also be given as part payment. 3. Bonds having a face value of P1,000,000 will be issued on June 30, 2020 at 98%. 4. Trading securities carried at market value of P200,000 will be sold for P215,000. 5. New equipment will be purchased during the year. 6. A new building will be purchased at a cost of P1,000,000, although there are no building retirements. 7. Cash dividends will be paid to stockholders. The financial statements forccast for the year ended June 30, 2020 are given next page: