vi.Subject :- Accounting Some recent financial statements for Smolira Golf, Incorporated, follow.AssetsCurrent assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsSMOLIRA GOLF, INCORPORATED2022 Income StatementSalesCost of goods soldDepreciationEBITInterest paidTaxable incomeTaxesNet incomeDividendsRetained earnings$ 189,770127,403SMOLIRA GOLF, INCORPORATEDBalance Sheets as of December 31, 2021 and 202220212022Liabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableOther$ 2,8514,70712,718$ 20,2765,213$ 57,154$1,31055,84419,545$ 36,299$ 12,02524,274$ 2,7075,66113,662$ 22,030$ 58,063 $ 84,293$ 78,339 $ 106,323TotalLong-term debt.Owners' equityCommon stock and paid-in surplusAccumulated retained earningsTotalTotal liabilities and owners' equity2021$ 2,2131,810102$ 4,125$ 14,500$ 44,00015,714$ 59,714$ 78,339202Construct the DuPont identity for Smolira Golf.Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin$2,2,$5,$ 17,$ 44,39,$ 83,$ 106, a Golf, Incorporated, follow.SMOLIRA GOLF, INCORPORATEDBalance Sheets as of .December 31, 2021 and 2022021Liabilities and Owners' EquityCurrent liabilities20222,8514,70712,718$ 2,7075,66113,66220,276 $ 22,03058,063 $ 84,29378,339 $ 106,323Show Transcribed TextSalesCost of goods soldDepreciationSMOLIRA GOLF, INCORPORATED2022 Income StatementEBITInterest paidTaxable incomeTaxesNet incomeDividendsRetained earnings.Accounts payableNotes payableOtherTotalLong-term debtOwners' equityCommon stock and paid-in surplusAccumulated retained earningsTotalTotal liabilities and owners' equityProfit marginTotal asset turnoverEquity multiplierReturn on equity$ 189,770127,40315,213$ 57,1541,310$ 55,84419,545$36,2991$ 12,02524,274G%timestimes%o2021$ 2,2131,810102$ 4,125$ 14,5002022$ 2,7202,236119$5,075$ 17,260Construct the DuPont identity for Smolira Golf.Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit marginand return on equity as a percent.$ 44,00039,988$ 83,988$ 44,00015,714$ 59,714$ 78,339 $ 106,323

Profit margin = (Net income /Sales)*100Total asset turnover = (Net sales / Total assets)Equity…

Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets. Net plant and equipment Total assets SMOLINA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold. Depreciation EDIT Interest paid Taxable income Taxes Net income Dividends Retained earnings $2,851 4,707 12,718 $ 20,276 $ 189,770 127,403 5,213 $ 57,154 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 2022 Liabilities and Owners' Equity Current liabilities 1,310 $ 55,844 19,545 $ 36,299 $ 12,025 24,274 $ 58,063 $ 84,293 $ 78,339 $ 106,323 $ 2,707 5,661 13,662 $ 22,030 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus. Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 2,213 1,810 102 $ 4,125 $14,500. 202 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin $2, 2, $5, $ 17, $ 44,000 15,714 $ 44, 39, $ 59,714 $83, $ 78,339 $ 106,

Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets. Net plant and equipment Total assets SMOLINA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold. Depreciation EDIT Interest paid Taxable income Taxes Net income Dividends Retained earnings $2,851 4,707 12,718 $ 20,276 $ 189,770 127,403 5,213 $ 57,154 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 2022 Liabilities and Owners' Equity Current liabilities 1,310 $ 55,844 19,545 $ 36,299 $ 12,025 24,274 $ 58,063 $ 84,293 $ 78,339 $ 106,323 $ 2,707 5,661 13,662 $ 22,030 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus. Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 2,213 1,810 102 $ 4,125 $14,500. 202 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin $2, 2, $5, $ 17, $ 44,000 15,714 $ 44, 39, $ 59,714 $83, $ 78,339 $ 106,

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

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Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings 2021 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios I. Profit margin m. Return on assets n. Return on equity $3,061 4,742 12,578 $ 20,381 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other $ 52,746 $ 73,127 2021 $ 188,370 126, 703 5,283 $ 56,384…
Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings 2021 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debl-equity ratio. 1. Equity multiplier j. Times interest earned ratio $ 3,031 4,737 12,598 $20,366 $ 54,277 $ 74,643 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable 2021 $ 188,570 126,803 5,273 $ 56,494 1,370 $ 55,124 19,293 $ 35,831 $ 11,965 23,866 times times times $ 3,007 5,721 13,722 $ 22,450 times times times $ 79,709…
Selected comparative financial Statements of Kordin Company follow. Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses KORBIN COMPANY Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets Assets Current assets Long-term investments Plant assets, net Total assets 2021 2020 2019 $548,688 $ 420,340 $ 291,700 330, 310 263,974 186,688 156,366 105,012 58,007 38,504 36,990 24,211 94,997 61,369 12,581 $ 48,788 Common stock Other paid-in capital Retained earnings Total liabilities and equity Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 218,378 77,914 49,382 127,296 91,082 16,941 $74,141 December 31 2021 $ 62,574 0 114,438 $177,012 $ 25,844 65,000 8,125 78,043…
You have been provided with Leonard Corporation's partial Statement of Financial Position and the Statement of Comprehensive Income for the year ended December 31, 2021. Leonard Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 Accounts receivable -net Prepaid expenses Inventory Property, Plant & Equipment Accumulated Depreciation Accounts payable Income taxes payable Deferred revenue 2021 Sales....... Cost of goods sold.. Gross Margin. Selling, general and admin Depreciation expense $440,000 482,000 45,000 31,000 825,000 810,000 2,475,000 2,105,000 2020 (866,000) (823,000) 184,000 197,000 38,000 35,000 47,000 42,000 Leonard Corporation Statement of Comprehensive Income For the Year Ended December 31, 2021 Interest expense..... Gain on sale of PPE Net income before taxes Income Tax Expense Net income and comprehensive income... $3,560,000 1,950,000 1,610,000 (595,000) (320,000) (115,300) 55,400 635,100 95,300 .$539,800 Additional information:…
You are required to calculate:1. Liquidity ratios 2. Solvency rations 3. Profitability ratios For the selected companies and shortly write your comments and findings.
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 442,035 $ 338,635 266,105 214,695 123,940 46,732 29,800 76,532 47,408 9,719 Sales Cost of goods sold Gross profit! Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings KORBIN COMPANY Comparative Balance Sheets Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Long-term investments Plant assets, net Total assets 175,930 62,769 39,783 102,552 73,378 13,648 $ 59,730 $ 37,689 Liabilities and…
Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable. Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings $ 189,170 127,103 Profit margin Total asset turnover Equity multiplier Return on equity 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 $ 11,995 24,070 19.06 % SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities. Accounts payable Notes payable Other 1.81 times 0.00 times 0.00% 2021 $ 2,941 4,722 12,658 $20,321 $ 2,857 5,691 13,692 $ 22,240 $ 56,170 $ 82,001 $ 76,491 $ 104,241 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity. 2021 $ 2,198 1,795 99 $4,092 $14,200 $ 42,500…
Link, Incorporation Selected financial data ($ thousands) Income statement and related items Sales Cost of goods sold Net income Cash flow from operations Balance sheet items Cash Marketable securities Accounts receivable Inventory Total current assets Accounts payable Accrued liabilities Total current liabilities 2020 $ 160,835 141,829 (91,432) (35,831) $ 236,307 209,670 12,645 2021 $ 274,219 209,628 (257,981) (12,538) $ 164,952 22,638 21,655 3,971 40,556 462,593 249,801 17,735 13,962 27,184 76,596 44,919 90,558 Please refer to the financial data for Link, Incorporation above. What is Link's days' sales in cash for 2021?
Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Bramble Company 2022 $1,896,000 1.020,048 257,856 Return on assets 7,584 54,984 322,500 520,800 O 64,200 Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 2021 Return on common stockholders' equity 520,800 64,200 Debra Company $561,000 297,330 79,662 3,927 6,171 $310,000 83,500 $78,000 500,300 139,800 123,000 75,600 29,600 108,400 498,000 172,700 2022 34,400 500,300 2021 498,000 146,300 Bramble Company 75,600 90,400 67.2 % % 139,800 34,400 28,400 122,500 Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) 38,000 123,000 Debra Company 29,600…
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets 2020 2021 $548,688 $ 420,340 330,310 263,974 218,378 156,366 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 Common stock Other paid-in capital Retained earnings Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income December 31 2021 $ 62,574 % 0 % $ 41,881 $ 55,985 1,200 3,920 114,438 103,962 61,920 $177,012 $ 147,043 $ 121,825 $ 25,844 65,000 8,125…
Below is a comparative statement of financial position for Egglestone Vibe Inc. as at December 31, 2021: Egglestone Vibe Inc. Statement of Financial Position Cash Accounts receivable Inventory Land Plant assets Assets: Investments-available for sale (OC) Additional Information: Accumulated depreciation-plant assets Goodwill(n) Total assets Liables and Equity: Accounts payable Dividend payable Notes payable Common shares Retained earnings Accumulated other comprehensive income Total liabilities and equity Required: December 31 2021 2020 $ 84,500 $ 37,706 113,100 76,700 302,900 235,300 81,900 109,200 84,500 133,900 507,000 560,000 (152,100) (111,800) 161,200 224,900 1.183.000 1,265,900 $ 38,100 $ 66,300 19,500 41,600 416,000 565,500 322,500 162,500 374,400 370.200 12,500 59,800 $1,163,000 $1,265,000 i. Net income for the 2021 fiscal year was $24,700. i. On March 1, 2021, land was purchased for expansion purposes. On July 12, 2021, another section of land with a carrying value of $111,800…