### C. Klien Inc. Financial Statements#### Income Statement for the Years Ended December 31, 2017 and 2018- **2018** - Sales (all on credit): $469,000 - Cost of goods sold: $(303,000) - Gross margin: $166,000 - Depreciation expense: $36,000 - Other operating expenses: $102,000 - Total operating expenses: $138,000 - Operating income: $28,000 - Interest expense: $(4,700) - Gain on sale of investments: $4,900 - Loss on sale of plant assets: $(3,400) - Total other income (expenses): $(11,700) - Income before income taxes: $26,100 - Income taxes expense: $(7,320) - Net income: $18,270- **2017** - Sales (all on credit): $422,000 - Cost of goods sold: $(248,000) - Gross margin: $174,000 - Depreciation expense: $51,000 - Other operating expenses: $85,000 - Total operating expenses: $136,000 - Operating income: $38,000 - Interest expense: $(3,500) - Gain on sale of investments: $3,400 - Loss on sale of plant assets: $(2,500) - Total other income (expenses): $(2,600) - Income before income taxes: $35,400 - Income taxes expense: $(10,620) - Net income: $24,780#### Statement of Retained Earnings for the Year Ended December 31, 2018- Ret. Earnings, Jan 1, 2018: $23,000- Add: Net income: $18,270- Deduct: Dividends: $(11,000)- Increase in retained earnings: $7,270- Ret. Earnings, Dec 31, 2018: $30,270#### Comparative Balance Sheets for December 31, 2018 and 2017- **Current Assets** - Cash: $52,260 (2018), $37,990 (2017) - Accounts rece **C. Klein Inc.****Partial Balance Sheet (Horizontal Analysis)***For the years ended December 31, 2018 and 2017*| | 2018 | 2017 | Increase/decrease | |---|------|------|-------------------|| Current assets: | | | | | Cash | | | | | Accounts receivable (net) | | | | | Inventory | | | | | Prepaid expenses | | | | | Other current assets | | | | | **Total current assets** | | | | | Long-term investments | | | | | Plant assets | | | | | Less: accumulated depreciation | | | | | **Total plant assets** | | | | | **Total assets** | | | | There is a table within this document structured to analyze financial data horizontally, comparing the fiscal years 2017 and 2018. The table is designed to note any increases or decreases both in amount and percentage over the given period.This type of analysis helps in understanding the financial trends of the company year over year, highlighting areas of growth or concern.

share, common stock $13 Horiz Analysis Horiz Analysis Vertic Analysis Vertic Analysis Cash Flows from Oper Inc St Bal St Inc St Bal Sheet Ratios Requirement Prepare a vertical analysis on the partial balance sheets for 2017 and 2018. Enter decreases as m amounts/percents. C. Klein Inc. Partial Balance Sheet (Horizontal Analysis) For the years ended December 31, 2018 and 2017 Increaseldecrease 2018 2017 Amount Percent Current assets: Cash Accounts receivable (net) Inventory

share, common stock $13 Horiz Analysis Horiz Analysis Vertic Analysis Vertic Analysis Cash Flows from Oper Inc St Bal St Inc St Bal Sheet Ratios Requirement Prepare a vertical analysis on the partial balance sheets for 2017 and 2018. Enter decreases as m amounts/percents. C. Klein Inc. Partial Balance Sheet (Horizontal Analysis) For the years ended December 31, 2018 and 2017 Increaseldecrease 2018 2017 Amount Percent Current assets: Cash Accounts receivable (net) Inventory

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

Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities a. Determine for each year (1) the working Current Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has current assets relative to current liabilities. $690,500 799,500 327,000 1,042,800 537,200. $3,397,000 $458,200 $579,600 652,100 217,300 673,400 430,600 $2,553,000 $483,000 331,800 207,000 $790,000 $690,000 capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Previous Year from the preceding year to the current year. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of an in
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $387,600 448,800 183,600 1,032,200 531,800 $2,584,000 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved increased $394,400 285,600 $680,000 $306,800 345,200 115,000 719,800 460,200 $1,947,000 $413,000 177,000 $590,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year ✔ from the preceding year to the current year. The working capital, current ratio, and quick ratio have all ✔Most of these channes are the result of an increase ✔in nurrent accets…
Comparable balance sheets are presented below:Dec. 31, 2015 Dec. 31, 2014AssetsCash 1.2 1.9Accounts Receivable 0.4 0.3Inventory 1.3 1.0Property, Plant & Equipmen 6.0 3.0Less: Accumulated Depreciation (0.8) (0.4)8.1 5.8Liabilities & Stockholder's EquityAccounts Payable 2.6 2.1Dividends Payable - -Bonds Payable 4.4 2.8Common Stock, $1 Par Value 0.2 0.1Paid-in Capital in Excess of Par Value 3.2 2.2Retained Earnings (2.3) (1.4)8.1 5.8Additional Information:1. The change in PP&E represent cash expenditures for a new factory2. There were no disposals of PP&E during the year3. There were no dividends declared during the year4. The common stock was issued for cash5. A review of the income statement noted a gross profit margin of 20% and Research & Development costs of $0.7 for the yearRequired:1. Prepare a statement of cash flows using the indirect method2. Is the operating cash flow sustainable?3. What are the major sources and uses of cash?4. How are the operations being…
Current position analysis the following data were taken from the balance sheet of Nilo company at the end of the two recent Fisher years; Current assets: Cash Marketable securities Account and note receivable (net) Inventories Prepaid expenses Total Current assets Current liabilities Account and notes payable ( short-term) Accrued liabilities Total Current liabilities Current year $417,000 cash 483,100 Marketable securities 197,700 acct not receivable ( net) 845,500 inventory 435,500 prepaid 2,379,000 Total Current assets Previous year $339,200 cash 381,600 Marketable securities 127,200 access note receivable ( net) 614,300 inventory 392,700 prepaid expenses 1,855,000 Total Current assets Current year Current liabilities Short term $353,800 Accrued liabilities 256,200 Total Current liabilities $610,000 Previous year Short term $371,000 Accrued liabilities 159,000 Total Current liabilities $530,000 A. Determine for each year 1 capital, 2 the current ratio,…
Calculate 1. Return on equity 2. Inventory Turnover 3. Accounts Receivable Turnover
Please input numbers below based on data provided for the year 2017
What does the vertical analysis reveal on ABC Corporation in terms of Statement of Financial Position
Find return on assets and return on equity ratios for year 2017, 2018, and 2019.
Please do not provide answer in image format thank you
Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Find earnings per share 2019
cash flow statment Assets Long term investments long-term assets Brand name & Goodwell The comparative statements of financial position of Lopez Inc. at the beginning and the end of the year 2022 appear as follows. Inventory Accounts receivable Cash Total J Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Income Tax payable Total Ć Lopez Inc. Statements of Financial Position Dec.31, 2022 $ 56,000 115,000 50,000 100,000 65,000 12,000 $398,000 $250,000 61,000 53,000 34,000 $398,000 Jan. 1, 2022 $ 40,000 150,000 43,000 60,000 40,000 43,000 $376,000 $ 200,000 91,000 75,000 10,000 $376,000 Additional information Net income $90,000 Deprecation on long term assets $25,000 dividends of $15,000 were paid in 2022 a long-term asset with a net book value of $10,000 were sold at a gain of $17,000 Instructions From the information given above, prepare a Cash Flow Statement for Lopez Inc. for the period ending 31st Dec., 2022 (Using indirect method). Show very clearly…