Solar System Inc. has provided you with the following information: Account 2022 2021 Cash $ 21,000 $ 47,000 Short-term (trading) investments 28,000 – Accounts receivable 102,000 116,000 Inventory 86,000 64,000 Prepaid expenses 11,000 9,000 Total assets 1,503,000 1,489,000 Total current liabilities 205,000 241,000 Net sales, all on credit 877,000 850,000 Cost of goods sold 570,000 555,000 Operating income 165,000 158,000 Income tax expense 20,000 18,000 Net income 109,000 100,000 Interest expense 36,000 40,000 Common shares (no preferred) 420,000 420,000 Retained earnings 153,000 74,000 Required Calculate the following ratios for 2022. Round all values to two decimals (eg 34.56%) Show all calculations. Profit margin on sales Quick (acid-test) ratio Receivables turnover Debt to total assets Times interest earned Rate of return on assets Rate of return on common share equity

Solar System Inc. has provided you with the following information: Account 2022 2021 Cash $ 21,000 $ 47,000 Short-term (trading) investments 28,000 – Accounts receivable 102,000 116,000 Inventory 86,000 64,000 Prepaid expenses 11,000 9,000 Total assets 1,503,000 1,489,000 Total current liabilities 205,000 241,000 Net sales, all on credit 877,000 850,000 Cost of goods sold 570,000 555,000 Operating income 165,000 158,000 Income tax expense 20,000 18,000 Net income 109,000 100,000 Interest expense 36,000 40,000 Common shares (no preferred) 420,000 420,000 Retained earnings 153,000 74,000 Required Calculate the following ratios for 2022. Round all values to two decimals (eg 34.56%) Show all calculations. Profit margin on sales Quick (acid-test) ratio Receivables turnover Debt to total assets Times interest earned Rate of return on assets Rate of return on common share equity

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter8: Subprime Lending Fiasco-ethics Issues

Section: Chapter Questions

Problem 3.3EC

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How did they get 12 million from this question? Explain
Assume the following information (numbers in millions). Note: You can copy this table directly into Excel. Data Item EBIT ($) 2022 2023 13831 8891 -1082 Interest Expense ($) 113 Operating Assets ($) 34985 36920 Operating Liabilities 25,365 25703 ($) Net Fixed Assets ($) 41421 57002 Debt ($) 6942 10548 Tax Rate (%) 8.3% -50.1% What is free cash flow to equity in 2023? IMPORTANT! It will be very easy to goof up this problem given the negative interest expense and negative tax rate. Remember, if you subtract a negative this turns it into a positive. Hint: It will be so amazingly useful to remember the FCFE extra credit problem. To help, please note that the answer ranges between 1.300 and 2,100.
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Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
BnB Construction Inc.Balance Sheet (Millions of Dollars) Assets 2021 Est 2020 2019 Liabilities 2021 Est 2020 2019 Cash and Cash Equivalents 15 10 15 Accounts payable 115 60 30 Short-Term Investments 10 0 65 Overdrafts 115 110 60 Accounts Receivable 420 375 315 Accruals 260 140 130 Inventories 700 615 415 Total Current Liabilities 490 310 220 Total Current Assets 1145 1000 810 Long -Term Bonds and New Loan 1300 754 580 Net Plant and Equipment 1884 1190 870 Total Debt 1790 1064 800 Preferred Stock 40 40 40 Common Stock 130 130 130 Retained Earnings 1069 956 710 Total Common Equity 1199 1086 840 Total Assets 3029 2190 1680 Total Liabilities and Equity 3,029 2,190 1,680 Included is the Income Statement. Requirements: 1. Calculate the EPS, DPS, and BVPS, and Cash…
The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…
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Solar Electric Inc. Balance Sheet 32 Marks ACB As at December 31, 2023 Account Title Debit Credit Assets Current Assets Cash 100,649 Accounts Receivable 35,860 Interest Rceivable 9,113 Prepaid Insurance 7,370 Short-Term Investment- Citi Inc 237,000 Short-Term Investment- Bonds 135,000 Inventory 90,640 Valuation Allowance for Fair Value Adjustment 50,700 Total Current Assets 666,332 Non-current Assets Investment in HSBC Inc. Common Shares 503,840 Long-Term Investment- Bond 145,000 Property, Plant & Equipment 280,000 Accumulated Depreciation 86,000 Total Non-Current Assets 842,840 Total Assets 1,509,172 Liabilities Current Liabilities Accounts Payable 212,400 Interest Payable 31,167 Unearned Revenue 21,000 Total Current Liabilities 264,567 Long-Term Liabilities Bonds Payable 340,000 Discount on Bonds Payable 15,741 Bank Loan 225,000 Total-Long Term Liabilities 549,259 Total Liabilities 813,826 Shareholders Equity Common Shares 362,000 Preferred Shares 80,000 Retained Earnings 348,385…
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bartleby, a Learneo, Inc. business

Account	2022	2021
Cash	$ 21,000	$ 47,000
Short-term (trading) investments	28,000	–
Accounts receivable	102,000	116,000
Inventory	86,000	64,000
Prepaid expenses	11,000	9,000
Total assets	1,503,000	1,489,000
Total current liabilities	205,000	241,000
Net sales, all on credit	877,000	850,000
Cost of goods sold	570,000	555,000
Operating income	165,000	158,000
Income tax expense	20,000	18,000
Net income	109,000	100,000
Interest expense	36,000	40,000
Common shares (no preferred)	420,000	420,000
Retained earnings	153,000	74,000