Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 $ 39,400 $ 34,150 109,000 95,000 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses 69,500 89,000 130,500 134,500 11,600 397,500 347,500. 14,000 Plant assets Accounts payable 103,900 117,300 720,500 685,500 Net sales Cost of goods sold 399,500 384,500 Multiple Choice 86.8. 46.5. 119.2. Cost of goods sold 399,500 384, 500 Multiple Choice 465 19.2 481 55.2
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- You have just obtained financial information for the past 2 years for Treet Corporation. Treet Corporation Income Statements For Year Ending December 31 (Millions Of Dollars) 2012 2011 Sales 3,000.00 3,500.00 Operating costs (excluding depreciation and amortization) 2,500.00 3,100.00 EBITDA 500.00 400.00 Depreciation and amortization 90.00 75.00 Earnings before interest and taxes 410.00 325.00 Interest 70.00 60.00 Earnings before taxes 340.00 265.00 Taxes (40%) 136.00 126.00 Net income available to common stockholders 204.00 139.00 Common dividends 180.00 13.20 Treet Corporation Balance Sheets As at December 31 (Millions Of Dollars) 2012 2013 Assets: Cash and marketable securities 120.00 30.00 Accounts receivable 540.00 400.00 Inventories 540.00 620.00…Consider the following financial statement data for Hi-Tech Instruments: For the Year Ended December 31 (Thousands of Dollars, except Earnings per Share) Sales revenue $218,000 Cost of goods sold 133,000 Net income 16,300 Dividends 10,600 Earnings per share $4.15 HI-TECH INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars) Current Year Prior Year Assets Cash $26,300 $26,000 Accounts receivable (net) 54,000 49,000 Inventory 47,500 51,700 Total Current Assets 127,800 126,700 Plant assets (net) 60,600 58,500 Other assets 23,600 21,800 Total Assets $212,000 $207,000 Liabilities and Stockholders’ Equity Notes payable—banks $14,000 $14,000 Accounts payable 30,500 26,700 Accrued liabilities 24,500 29,000 Total Current Liabilities 69,000 69,700 9% Bonds payable 48,000 48,000 Total Liabilities 117,000 117,700 Common stock 50,000 50,000 Retained earnings 45,000 39,300 Total Stockholders’ Equity 95,000 89,300…Supply the missing components of the Statement of Financial Position and Sales information using the following financial data:Debt ratio: 50%Current ratio: 1.8×Total assets turnover: 1.5×Days sales outstanding: 36.5 days*Gross profit margin on sales: (Sales − Cost of goods sold)/Sales = 25%Inventory turnover ratio: 5×*Calculation is based on a 365-day year.Statement of Financial Position(in Thousands)Cash ________Accounts payable_________Accounts receivable ________Long-term debt PhP120,000Inventories ________Common stock_________Fixed assets ________Retained earnings 195,000Total assets PhP600,000Total liabilities and equity _________Sales _______Cost of goods sold _________
- Bottling's December 31st balance sheet is given below: Cash 10 Accounts payable $ 15Accounts receivable 25 Notes payable 20 Inventory 40 Accrued wages and taxes 15 Net fixed assets 75 Long-term debt 30 Common equity 70 Total liabilities Total assets $150 and equity $150 Sales during the past year were $100, and they are expected to rise by 50 percent to $150 during next year. Also, during last year fixed assets were being utilized to only 85 percent of capacity (excess capacity). Assume that profit margin will remain constant at 5 percent and that the company will continue to pay out 60 percent of its earnings as dividends. To the nearest whole dollar, what amount of nonspontaneous, additional funds will be…Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The company's comparative balance sheets included the following: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 What amount of cash was received for interest revenue during 2024? Select one: $65,500 $63,900 $67,100 $56,400Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Sales Cost of goods sold Gross profit $ 10,000 8,400 CABOT CORPORATION Income Statement For Current Year Ended December 31 Operating expenses Interest expense Income before taxes Income tax expense Net income 33,700 32,150 2,650 153,300 $ 240, 200 $448,600 297,250 151,350 98,600 4,100 48,650 19,598 $ 29,052 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable. Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings Total liabilities and equity $ 17,500 3,200 3,300…
- 7. The Hopewell Pharmaceutical Company's balance sheet and income state- ment for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Cash and marketable securities $1,100 Accounts receivable 1,300 Inventories* 800 200 Other current assets Total current assets Plant and equipment (net) Other assets Total assets $3,400 2,300 1,000 $6,700 Net sales Cost of sales Liabilities and Equity Accounts payable Accrued liabilities (salaries and benefits) Other current liabilities Earnings before taxes Taxes Earnings after taxes (net income) Total current liabilities Long-term debt and other liabilities Selling, general, and administrative expenses Other expenses Total expenses Common stock Retained earnings Total stockholders' equity Total liabilities and equity *Assume that average inventory over the year was $800 million that is, the same as ending inventory. Income Statement (in Millions of Dollars) a. Determine Hopewell's cash conversion cycle. b. Give an interpretation of…Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. This year Sales $1,000 Balance Sheet: Assets Cash $150 Short-term investments $140 Accounts receivable $300 Inventories $300 Total current assets $890 Net fixed assets $600 Total assets $1,490 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected total operating assets? Do not round intermediate calculations. Round your answer to the nearest dollar.A company reports the following amounts at the end of the year. Total sales revenue = $410,000; cash = $38,000; sales discounts=$15,000; accounts receivable = $20,000; sales returns = $25,000; operating expenses = $72,000; sales allowances = $25,000. Compute net revenues. net revenue=.
- Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 31,600 88,000 112,500 10,650 281,000 $523,750 $ 36,250 $ 38,400 62,000 83,800 9,350 249,500 $440,900 $ 379,900 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 49,500 52,500 4,500 235,000 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $128,400 $ 74,750 $ 50,800 97,000 160,500 137,850 98,250 160,500 107,400 81,600 160,500 87,000 Total liabilities and equity $523,750 $440,900 $ 379,900 ces The company's income statements for the Current Year and 1 Year Ago, follow. 1 Yr Ago For Year Ended December 31 Sales Current Yr $755,000 $ 620,000 Cost of goods sold other operating expenses Interest expense $445,450 234,050 11,300 9,550 $390,600 148,800 12,700 8,925 Income tax expense Total costs and expenses 700,350 561,025 Net income $ 54,650 $…Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required: Calculate Watervan’s economic value added (EVA). Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not…15. Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31): 2021 2020 Sales revenue $ 4,450,000 $ 3,550,000 Cost of goods sold 2,870,000 2,010,000 Administrative expense 810,000 685,000 Selling expense 370,000 312,000 Interest revenue 151,000 141,000 Interest expense 202,000 202,000 Loss on sale of assets of discontinued component 52,000 — On July 1, 2021, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2021, for $52,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows: 1/1/2021–9/30/2021 2020 Sales revenue $ 410,000 $ 510,000 Cost of goods sold (295,000 ) (326,000 ) Administrative expense (51,000 )…