Sage Hill Inc. had the following balance sheet at December 31, 2016.SAGE HILL INC.BALANCE SHEETDECEMBER 31, 2016Cash $ 9,600 Accounts payable $ 14,500Accounts receivable 14,000 Bonds payable 8,800Investments 15,500 Common stock 36,900Plant assets (net) 35,500 Retained earnings 32,300Land 17,900 $ 92,500 $ 92,500 During 2017, the following occurred.1. Net income was $ 23,700.2. Depreciation expense was $ 8,100.3. Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $ 3,200 loss.4. Sage Hill issued $ 20,800 of common stock at par.5. Dividends of $ 8,200 were declared and paid to stockholders.6. Accounts receivable and accounts payable at December 31, 2017 were $ 15,800 and $ 13,900, respectively.7. Sage Hill obtained $ 8,200in plant assets in exchange for issuing bonds.8. Sage Hill purchased additional plant assets for $ 17,900.9. Sage Hill purchased land for $ 18,400.10. Cash at December 31, 2017 was $ 30,800. **SAGE HILL INC. Balance Sheet Template****Instructions:**Prepare the unclassified balance sheet as it would appear on December 31, 2017. **(List Assets in order of liquidity.)**---**Assets**1. [Blank for asset name] | $ [Blank for asset value]2. [Blank for asset name] | $ [Blank for asset value]3. [Blank for asset name] | $ [Blank for asset value]4. [Blank for asset name] | $ [Blank for asset value]Subtotal: $ [Blank for total asset value]---**Liabilities and Stockholders' Equity**1. [Blank for liability or equity name] | $ [Blank for value]2. [Blank for liability or equity name] | $ [Blank for value]3. [Blank for liability or equity name] | $ [Blank for value][Total line for liabilities and equity] | $ [Blank for total value]---**Description:**This balance sheet template is designed for educational purposes to illustrate how to prepare a basic balance sheet. It includes sections for listing assets in the order of liquidity, followed by liabilities and stockholders' equity. Please fill in each blank according to SAGE HILL INC.’s financial data as of the specified date. The image displays a section of a financial statement titled "Liabilities and Stockholders' Equity." Below the title, there are four blank lines on the left where different types of liabilities or equity items would typically be listed. Corresponding to each line on the right, there is a blank space next to a dollar sign ($) for entering monetary values.At the bottom, there is an additional blank line under another dollar sign ($), likely intended for a subtotal or a final total of the liabilities and stockholders' equity.This format is commonly used in accounting to organize and present the financial obligations and ownership interests of a company.

1. Plant Assets PARTICULAR DEBIT PARTICULAR CREDIT To balance B/d 35,500 By…

Answered: Sage Hill Inc. had the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Ivanhoe Corporation reported EBITDA of $7,300,325 and net income of $3,328,700 for the fiscal year ended December 31, 2017. During the same period, the company had $1,155,372 in interest expense, $1,023,294 in depreciation and amortization expense, and an average corporate tax rate of 35 percent. What was the cash flow to investors from operating activity during 2017? (Round answer to 0 decimal places, eg. 5,275.)
opines Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (N) Dividend Accessibility: Investigate $ 200 450 550 $1,200 2.200 (1,000) 1,200 2015 $2,400 $ 200 0 $ 200 $ 2015 300 600 700 $1,600 $2,400 $1,200 700 30 220 $ 250 50 $ 200 1180 $ 120 600 mm 2016 $1,450 850 40 200 $ 360 60 $ 300 120 180 80 $ 2016 $…
Net income?
The following information was available for the year ended December 31, 2016: Sales $ 460,000 Net income 66,140 Average total assets 760,000 Average total stockholders' equity 365,000 Dividends per share 1.33 Earnings per share 3.00 Market price per share at year-end 27.60 a. Calculate margin, turnover, and ROI for the year ended December 31, 2016. (Round your intermediate calculations and final answers to 2 decimal places.) b. Calculate ROE for the year ended December 31, 2016. (Round your answer to 2 decimal places.) c. Calculate the price/earnings ratio for 2016. (Round your answer to 2 decimal places.) d. Calculate the dividend payout ratio for 2016. (Round your answer to 2 decimal places.) e. Calculate the dividend yield for 2016. (Round your answer to 2 decimal places.)
Selected balance sheet and income statement information for Home Depot follows. $ millions Operating assets Jan. 31, 2016 Feb. 01, 2015 $40,333 $38,223 Nonoperating assets 2,216 1,723 Total assets 42,549 39,946 Operating liabilities 14,918 13,427 Nonoperating liabilities 21,315 17,197 Total liabilities 36,233 30,624 Total stockholders' equity 6.316 9.322 Sales 88,519 Net operating profit before tax (NOPBT) 11,774 Non-operating expense before tax 753 Tax expense 4,012 Net income 7,009 Compute the return on equity for the year ended January 31, 2016. You want your all-equity (no debt) firm to provide a return on equity of 13.5%. If total assets are $375,000, how much must be generated in net income to make this target? a. $41,234 b. $43,405 c. $45,689 d. $48,094 e. $50,625 For the FY 2016, Alpha Company had net sales of $950,000 and a net income of $65,000, paid income taxes of $30,000, and had before-tax interest expense of $15,000. Use this information to determine the: 1. Times…
Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Cash Accounts receivable Inventory Net fixed assets 21,900 24,300 Common stock $ 850 $ 1,210 126 Accounts payable 1,370 Short-term notes payable $ 1,080 $ 970 500 0 4,350 4,610 Long-term debt 11,900 13,500 6,000 6,200 Retained earnings Total assets $28,310 $30,406 Total liabilities and owners' equity 8,830 $28,310 $30,406 9,736 2016 Income Statement Sales Cost of goods sold Depreciation Interest Taxes Net income $30,710 18,470 6,132 744 1,824 $ 3,540 What are the values of the three components of the DuPont identity? Use ending balance sheet values. Multiple Choice
Samuel Corp. has provided the following information for the year ended December 31, 2018. Samuel Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Inc/(dec) Current Assets: Cash $33,000 $13,000 $20,000 Accounts Receiveable 29,000 36,000 (7,000) Inventory 56,000 29,000 27,000 Plant Assets, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000) Accrued Liabilities 7,000 3,000 4,000 Long-Term Notes Payable 70,000 79,000 (9,000) Total Liabilities 86,000 95,000 (9,000) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000) (6,000) (6,000) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders Equity $244,000 $170,000 $74,000 Samuel Corp Income…
Forecast the Balance Sheet Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Medtronic plc Consolidated Balance Sheets ($ millions) Apr. 29, 2016 Apr. 24, 2015 Current assets Cash and cash equivalents $2,876 $4,843 Investments 9,758 14,637 Accounts receivable 5,562 5,112 Inventories 3,473 3,463 Tax assets 697 1,335 Prepaid expenses and other current assets 1,234 1,454 Total current assets 23,600 30,844 Property, plant, and equipment, net 4,841 4,699 Goodwill 41,500 40,530 Other intangible assets, net 26,899 28,101 Long-term tax assets 1,383 774 Other assets 1,559 1,737 Total assets $99,782 $106,685 Current liabilities Short-term borrowings $993 $2,434 Accounts payable 1,709 1,610 Accrued compensation 1,712 1,611 Accrued income taxes 566 935 Deferred tax liabilities - 119…
You have gathered this information on JJ Enterprises: 2014 2015 Sales $6.318 $7,202 COGS 3,945 4.460 Interest 303 277 Depreciation 1,204 1,196 Cash 672 418 Accounts receivables 601 578 Current liabilities 414 463 Inventory 1,215 1.598 Long-term debt 4,780 4.103 Net fixed assets 7.700 7,330 Shareholder's equity 4.994 5.358 Taxes 217 317 What is the operating cash flow for 2015? Al $1,823 B) $1.229 C) $1,367 D) $2,425 E) $1,766

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

SAGE HILL INC. BALANCE SHEET DECEMBER 31, 2016
Cash	$ 9,600	Accounts payable	$ 14,500
Accounts receivable	14,000	Bonds payable	8,800
Investments	15,500	Common stock	36,900
Plant assets (net)	35,500	Retained earnings	32,300
Land	17,900		$ 92,500
	$ 92,500

1.		Net income was $ 23,700.
2.		Depreciation expense was $ 8,100.
3.		Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $ 3,200 loss.
4.		Sage Hill issued $ 20,800 of common stock at par.
5.		Dividends of $ 8,200 were declared and paid to stockholders.
6.		Accounts receivable and accounts payable at December 31, 2017 were $ 15,800 and $ 13,900, respectively.
7.		Sage Hill obtained $ 8,200in plant assets in exchange for issuing bonds.
8.		Sage Hill purchased additional plant assets for $ 17,900.
9.		Sage Hill purchased land for $ 18,400.
10.		Cash at December 31, 2017 was $ 30,800.