Some recent financial statements for Smolira Golf Corporation follow.AssetsCurrent assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsSalesCost of goods soldDepreciationTaxable incomeTaxes (22%)Earnings before interest andtaxesInterest paidNet incomeDividendsRetained earnings2020$35,585 $38,94028,84643,11218,4013,970SMOLIRA GOLF CORPORATION2021 Income Statementa. Price-earnings ratiob. Dividends per sharec. Market-to-book ratiod. PEG ratioSMOLIRA GOLF CORPORATION2020 and 2021 Balance Sheets2021 Liabilities and Owners' EquityCurrent liabilities$57,956 $110,898$465,585$ 27,00037,022Accounts payableNotes payableOther$ 521,433 Total$ 523,541 $ 632,331 Total liabilities and owners' equityLong-term debttimesOwners' equityCommon stock and paid-in surplusAccumulated retained earningstimestimesTotal$ 512,454363,52845,963$102,96320,883$ 82,08018,058$ 64,022Smolira Golf Corporation has 52,000 shares of common stock outstanding, and themarket price for a share of stock at the end of 2021 was $30.a. What is the price-earnings ratio? (Do not round intermediate calculations andround your answer to 2 decimal places, e.g., 32.16.)b.What are the dividends per share? (Do not round intermediate calculations andround your answer to 2 decimal places, e.g., 32.16.)C. What is the market-to-book ratio at the end of 2021? (Do not round intermediatecalculations and round your answer to 2 decimal places, e.g., 32.16.)d. If the company's growth rate is 5 percent, what is the PEG ratio? (Do not roundintermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)2020$38,802 $43,18220,20817,10020,944 25,594$ 79,954 $85,876$ 121,000$ 322,5872021$56,200 $ 56,200266,387 303,409$ 523,541$186,846$359,609$632,331

"Since you have asked a question with sub-parts more than three, as per guidelines, the first three…

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $35,585 $38,940 28,846 43,112 18,401 3,970 $57,956 $110,898 Accounts payable Notes payable Other Total Long-term debt 2020 2021 $38,802 $43,182 20,208 17,100 20,944 25,594 $ 79,954 $85,876 $ 121,000 $ 186,846

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $35,585 $38,940 28,846 43,112 18,401 3,970 $57,956 $110,898 Accounts payable Notes payable Other Total Long-term debt 2020 2021 $38,802 $43,182 20,208 17,100 20,944 25,594 $ 79,954 $85,876 $ 121,000 $ 186,846

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

2021 Bethesda Mining Company reports the following balance sheet information for 2021 and 2022. Assets Current assets BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' Equity Current liabilities 2022 2021 Cash Accounts receivable Inventory $ 31,982 58,781 131,971 $ 41,399 Accounts payable $ 193 Total $ 222,734 79,139 198,632 $ 319,170 Notes payable 88 Total $ 281 Long-term debt $ 244 Owners' equity Fixed assets Net plant and equipment Total assets $ 657,447 $ 880,181 $ 589,328 $ 908,498 Common stock and paid-in surplus Accumulated retained earnings Total $ 211 143 $ 354 Total liabilities and owners' equity $ 880 Suppose that the Bethesda Mining Company had sales of $2,186,873 and net income of $106,381 for the year ending December 31, 2022. Calculate ROE using the DuPont identity. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.…
5) Consider the following financial statement information for the ABC Corporation: Account 2018 2019 Cash $7,516 26,547 10,808 12,416 1,000 $133,844 $16,195 $85,733 $6,424 $10,697 36,986 13,110 13,555 1,200 $151,611 S16,177 $100,063 $6,520 Inventory Accounts Receivable Accounts Payable Notes Payable Net Revenue Net Income Cost of Goods Sold Depreciation Expense a) Calculate the cash conversion efficiency for 2018 and 2019. b) Calculate the net liquid balance for 2018 and 2019. c) Based on each of these measures, is the company more or less liquid in 2019 that it was in 2018? Explain. d) Determine the cash conversion period and the operating cycle for both years. e) Do the cash conversion cycle and operating cycle values suggest that there is a problem management needs to address? If so, explain what it is and what you can to do about it.
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 2021 $ 43,500 $48,240 29,625 32,160 Assets 2020 2021 Current assets Cash $ 8,250 $ 12,240 Accounts receivable 34,500 40,560 Inventory 58,500 86,160 Total $101,250 $ 138,960 Total es Long-term debt Owners' equity $ 73,125 $ 80,400 $ 45,000 $ 36,000 Common stock and paid-in surplus $60,000 $60,000 Retained earnings 196,875 303,600 $ Net plant and equipment $273,750 $341,040 Total $ 256,875 363,600 $ Total assets $375,000 480,000 Total liabilities and owners' equity $ $375,000 480,000 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $…
The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2022 2021 2020 Cash and short-term investments $ 644,992 $ 759,044 $ 748,693 Accounts receivable 47,721 41,710 39,521 Inventory 346,452 395,514 315,208 Other current assets 116,635 119,220 98,988 Total current assets 1,155,800 1,315,488 1,202,410 Long-lived assets 575,832 626,482 572,802 Total assets $ 1,731,632 $ 1,941,970 $ 1,775,212 Current liabilities $ 467,902 $ 447,401 $ 401,837 Total liabilities 509,045 521,986 421,341 Shareholders’ equity 1,222,587 1,419,984 1,353,871 Total liabilities and equity $ 1,731,632 $ 1,941,970 $ 1,775,212 Income Statement Sales $ 3,478,602 $ 3,121,465 $ 2,948,094 Cost of sales 2,099,480 1,989,471 1,777,143 Gross margin $ 1,379,122 $ 1,131,994 $ 1,170,951 Operating expenses 975,684 855,385 852,176 Earnings before interest and taxes $…
Condensed financial data of Waterway Company for 2020 and 2019 are presented below. WATERWAY COMPANYCOMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,790 $1,150 Receivables 1,780 1,330 Inventory 1,620 1,890 Plant assets 1,930 1,700 Accumulated depreciation (1,200 ) (1,180 ) Long-term investments (held-to-maturity) 1,310 1,420 $7,230 $6,310 Accounts payable $1,210 $920 Accrued liabilities 210 240 Bonds payable 1,370 1,530 Common stock 1,860 1,670 Retained earnings 2,580 1,950 $7,230 $6,310 WATERWAY COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,970 Cost of goods sold 4,680 Gross margin 2,290 Selling and administrative expenses 940 Income from…
The current sections of Vaughn Inc's balance sheets at December 31, 2019 and 2020, are presented here. Vaughn's net income for 2020 was $214,500. Depreciation expense was $48,000. Current assets Cash Accounts receivable Inventory Prepaid expense Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2020 2019 128.000 $126.500 $110,500 100.500 165,500 195,000 50,000 32,500 $470,000 $438.500 $38,000 $16.500 96,500 116,000 $134,500 $132,500 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000)) VAUGHN INC. Partial Statement of Cash Flows
Selected financial statement information for 2018, 2019, and 2023 for End Run Corporation is presented below (amounts in millions of dollars): Accounts receivable Current assets Property, plant, and equipment (net) Total assets Current liabilities Long-term debt Sales Cost of goods sold Selling and administrative expenses Income from continuing operations Cash flow from operations Depreciation expense 2020 A. 2020 SAI B. 2020 LVGI C. 2020 TATA D. 2020 Y E. 2020 earnings manipulation probability 10508 30945 11284 68787 29417 8776 101573 92207 3931 946 4837 518 2019 3905 7438 10744 31289 6595 7223 47860 32090 3315 1063 1127 550 2018 2985 5743 10493 26213 6048 7223 33906 27772 2582 739 1863 550 For 2019 and 2020, compute the following amounts relative to Beneish's eight-factor earnings manipulation model:
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2021 (millions of dollars) Assets Liabilities and Equity Cash and equivalents $ 20 Accounts payable $ 150 Accounts receivable 610 Accruals 320 Inventories 830 Notes payable 215 Total current assets $ 1,460 Total current liabilities $ 685 Net plant and equipment 2,465 Long-term bonds 1,490 Total liabilities $ 2,175 Common stock (100 million shares) 250 Retained earnings $ 1,500 Common equity $ 1,750 Total assets $ 3,925 Total liabilities and equity $ 3,925 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 7,250 Operating costs excluding depreciation and amortization 5,430 EBITDA $ 1,820 Depreciation and amortization 410 EBIT $ 1,410 Interest 130 EBT $ 1,280…
Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
Presented below are a number of balance sheet items for Swifty, Inc. for the current year, 2025. Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 127,870 Accumulated depreciation-equipment Inventory 180,461 302,870 15,320 362,870 482,870 448,570 267,870 492,870 ? 100,500 1,602,870 Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) Accumulated depreciation-buildings Buildings $292,320 242,670 47,870 101,232 482,870 202,870 152,870 90,790 1,472,870 123,870 270,520 1,642,870 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated…
Data from the financial statements of Kroger King and SuperDeal, Inc., are presented below (in millions): Kroger King SuperDeal, Inc. Total liabilities, 2019 $20,261 $13,549 Total liabilities, 2018 18,052 15,023 Total assets, 2019 25,093 16,436 Total assets, 2018 23,257 17,604 Revenue, 2019 76,733 40,851 Net income, 2019 70 393 To the nearest hundredth, what is the 2019 debt-to-total-assets ratio for SuperDeal, Inc.? Select one: a. 4.96 b. 0.21 c. 0.79 d. 4.69