Some recent financlal statements for Smolira Golf, Inc., follow.SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 20192018201920182019AssetsLlabilitles and Owners' EqultyCurrent assetsCurrent liabilitlesCash$ 3,271 $ 3,457 Accounts payable$ 2,138 $ 2,5705,811Notes payableOtherAccounts recelvable4,78212,4181,7352,086Inventory13,81287104Total$ 20,471 $23.080Total$ 3,960 $ 4760$ 13,700 $16,460Long-term debtOwners' equityCommon stock36,500and pald-in surplus$36.500 SAccumulated retalned38,893Fixed assets15,639earningsNet plant and75,393$49,328 $73,533Total$ 52,139 $equipmentTotal llabilitles and owners'Total assets$69,799 $ 96,613$ 69,799 $96,613equitySMOLIRA GOLF, INC.2019 Income Statement186,770Sales125,903Cost of goods soldDepreclation5,363EBIT$55,5041,460Interest paldTaxable Income$ 54,044Таxes18,915Net Income$ 35,129$ 11,87523,254DividendsRetalned earnings Smolira Golf has 11,000 shares of common stock outstanding, and the market price for ashare of stock at the end of 2019 was $74.a. What Is the price-earnings ratlo? (Do not round Intermedlate calculations and roundyour answer to 2 decimal places, e.g., 32.16.)b. What is the price-sales ratio? (Do not round Intermedlate calculatlons and roundyour answer to 2 decimal places, e.g., 32.16.)c. What are the dividends per share? (Do not round Intermedlate calculations andround your answer to 2 declmal places, e.g., 32.16.)d. What Is the market-to-book ratio at the end of 2019? (Do not round Intermedlatecalculations and round your answer to 2 decimal places, e.g., 32.16.)a. Price-earnings ratiob. Price-sales ratioc. Dividends per shared. Market-to-book ratiotimestimestimes

The question is based on the concept of Accounting Ratios. As per the Bartleby guidelines we are…

Answered: Some recent financial statements for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 3,211 $ 3,307 Accounts payable $ 2,153 $ 2,600 Accounts receivable 4,767 5,781 Notes payable 1,750 2,116 Inventory 12,478 13,782 Other 90 107 Total $ 20,456 $ 22,870 Total $ 3,993 $ 4,823 Long-term debt $ 13,400 $ 16,160 Owners’ equity Common stock and paid-in surplus $ 38,000 $ 38,000 Fixed assets Accumulated retained earnings 15,654 39,112 Net plant and equipment $ 50,591 $ 75,225…
An extract from a computer company's 2021 financial statements follows: Balance sheet As of December 31, 2021 As of December 31, 2020 Total assets 57,699 54,013 Total liabilities 37,682 37,919 Total stockholders' equity 20,017 16,096 What was the company's debt-to- equity ratio for 2021? OA. 2.5 OB. 1.6 O C. 0.9 O D. 1.9
Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities January 31, 2020 Working capital Current ratio 6 EL EL $ 21 $ 15 January 31, 2019 01/31/2020 01/31/2019 9 18 $ 25 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (1.e.. 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) $12 b. Evaluate the firm's liquidity at each balance sheet date. Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. O Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the firm operated at a loss…
Rising Stars Academy provided the following information on its 2019 Balance Sheet and Statement of Cash Flows: Long-term debt $ 4,400 Interest expense $ 398 Total liabilities 8,382 Net income 559 Total assets 38,775 Interest payments 432 Total equity 29,803 Cash flows from operations 1,015 Operating income 1,223 Income tax expenses 266 Income taxes paid 150 Required: Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places. a. Debt to equity b. Debt to total assets c. Long-term debt to equity d. Times interest earned (accrual basis) e. Times interest earned (cash basis)
Some recent financial statements for Smolira Golf, Incorporated, follow Assets Current assets Cash SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners Equity Current liabilities 5,721 Accounts payable Notes payable 2021 $ 2,183 1,780 96 $4,059 $ 13,900 2021 2022 Accounts receivable Inventory Total $3,031 4,737 12,598 $20,366 $ 3,007 13,722 $22,450 Other Total 4.09 Long-term debt Owners' equity $54,277 $ 79,709 $ 74,643 $ 102,159 Total liabilities and owners' equity $ 74,643 Fixed assets Net plant and equipment Total assets Common stock and paid-in surplus Accumulated retained earnings Total $ 41,000 15,684 $56,684 2022 $ 2,660 2,176 113 $ 4,949 $ 16,660 $41,000 39,550 $ 80,550 $ 102,159 Sales SMOLIRA GOLF, INCORPORATED 2022 Income Statement Cost of goods sold Depreciation EDIT Interest paid Taxable income Taxes Net income Dividends Retained earnings $185,570 126,803- 5,273 $ 56,494 1,370 $55,124 19,293 $35,831 $ 11,965 23,866 Find the…
Which of the following statements is TRUE about Verizon's financial statements? verizon Consolidated Balance Sheets (In millions of dollars) As of As of Dec 31, 2020 $ 22,171 Dec 31, 2019 $ 2,594 ASSETS Cash and cash equivalents Accounts receivable 23,917 25,429 Inventories 1,796 1,422 Prepaid expenses and other current assets 6,710 8,028 Total current assets 54,594 37,473 Property and equipment, net Intangible assets Other long-term assets 94,833 91,915 152,814 151,640 10,699 $ 291,727 14,240 Total assets $ 316,481 LIABILITIES & EQUITY Debt maturing within one year $ 5,889 $ 10,777 Accounts payable and accrued liabilities 20,658 21,806 Other current liabilities 13,113 12,285 Total current liabilities 39,660 44,868 Long-term debt 123,173 100,712 Other long-term liabilities 84,376 83,312 Total liabilities 247,209 228,892 Common stock and additional paid in capital 13,833 13,858 Retained earnings 60,464 53,147 Accumulated other comprehensive income (5,025) (4,170) Total shareholders'…
Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP.2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 34,985 $ 38,388 Accounts payable $ 37,662 $ 42,882 Accounts receivable 18,101 28,306 Notes payable 19,608 16,650 Inventory 3,790 42,872 Other 20,404 25,114 Total $ 56,876 $ 109,566 Total $ 77,674 $ 84,646 Long-term debt $ 118,000 $ 179,157 Owners’ equity Common stock and paid-in surplus $ 55,600 $ 55,600 Accumulated retained earnings 270,497 310,696…
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 5,298 $ 5,827 Accounts payable $ 3,754 $ 3,986 Accounts receivable 7,707 8,477 Notes payable 3,045 3,318 Inventory 12,150 21,956 Other 152 179 Total $ 25,155 $ 36,260 Total $ 6,951 $ 7,483 Long-term debt $ 24,700 $ 16,000 Owners’ equity Common stock and paid-in surplus $ 40,000 $ 37,000 Fixed assets Accumulated retained earnings 28,805 55,189 Net plant and equipment $ 75,301 $ 79,412 Total $ 68,805 $ 92,189 Total assets $…
The current assets and liabilities sections of the comparative balance sheets of Regent Inc., a private entity reporting under ASPE, at December 31 are presented below, along with the income statement: REGENT INC. Comparative Balance Sheet Accounts 2024 2023 Cash $27,720 $29,400 Accounts receivable 17,920 11,480 Inventory 9,100 12,880 Prepaid expenses 2,100 1,624 Accounts payable 12,040 10,080 Accrued expenses payable 1,400 2,240 Dividends payable 6,720 4,760 Income tax payable 1,904 3,304 REGENT INC. Income Statement Year Ended October 31, 2024 Sales $175,000 Cost of goods sold 109,200 Gross profit 65,800 Operating expenses $24,640 Depreciation expense 6,440 Loss on sale of equipment 2,240 33,320 Profit before income tax 32,480 Income tax expense 8,120 Profit for the year $24,360 Instructions Prepare the operating section of the cash flow statement using the direct method.
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 3,211 $ 3,307 Accounts payable $ 2,153 $ 2,600 Accounts receivable 4,767 5,781 Notes payable 1,750 2,116 Inventory 12,478 13,782 Other 90 107 Total $ 20,456 $ 22,870 Total $ 3,993 $ 4,823 Long-term debt $ 13,400 $ 16,160 Owners’ equity Common stock and paid-in surplus $ 38,000 $ 38,000 Fixed assets Accumulated retained earnings 15,654 39,112 Net plant and equipment $ 50,591 $ 75,225…
Using functions , complete the “Aggregated Data” worksheet using the “Statementof Income” worksheet.
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Liabilities and Owners Equity Assets Current assets Current liabilities Cash $ 3,211 $ 3,307 Accounts payable $ 2,153 $ 2,600 Accounts receivable 4,767 5,781 Notes payable 1,750 2,116 Inventory 12,478 13,782 Other 90 107 Total $ 20,456 $ 22,870 Total $ 3,993 $ 4,823 Long-term debt $ 13,400 $ 16,160 Owners’ equity Common stock and paid-in surplus $ 38,000 $ 38,000 Fixed assets Accumulated retained earnings 15,654 39,112 Net plant and equipment $ 50,591 $ 75,225…

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