Southwestern Industries has the following selected data ($ in millions): Balance sheet data Total assets Total liabilities Total stockholders' equity Income statement data Sales Interest expense Income tax expense Net income 2024 1. Debt to equity ratio 2. Return on assets ratio 3. Times interest earned ratio $2,700 1,950 750 $750 80 30 95 Required: Based on these amounts, calculate the following ratios for Southwestern Industries in 2024: (Round your answers to 2 decimal places.) % 2023 times $2,100 1,100 1,000

Southwestern Industries has the following selected data ($ in millions): Balance sheet data Total assets Total liabilities Total stockholders' equity Income statement data Sales Interest expense Income tax expense Net income 2024 1. Debt to equity ratio 2. Return on assets ratio 3. Times interest earned ratio $2,700 1,950 750 $750 80 30 95 Required: Based on these amounts, calculate the following ratios for Southwestern Industries in 2024: (Round your answers to 2 decimal places.) % 2023 times $2,100 1,100 1,000

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

Show all of your work for numerical problems. 1. Based on the following information for ABC Corporation, answer each question (calculate for year 2023). Assume that price per share is $13.33 and number of shares is 175. Sales Cost of goods sold/Expenses Depreciation b. EBIT Interest Taxable Income Taxes Net Income Dividends Cash Inventory Account Receivable Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained Earning 2022 1,000 1,400 1,600 4,000 9,000 3,500 4,000 3,000 2,500 2023 8,000 4,900 600 ? 450 ? ? ? 1,370 1,200 1,600 1,800 4,600 9,200 3,700 4,300 3,050 2,750 a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate. Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to stockholders. Check CF identity
Calculate the average collection period ratio for Urban Outfitters for both 2018 and 2019. Be sure to round your answer to 2 decimal places.
Here is the income statement for Skysong, Inc. Sales revenue Cost of goods sold Gross profit Expenses (including $14,000 interest and $25,200 income taxes) Net income Additional information: 1. SKYSONG, INC. Income Statement For the Year Ended December 31, 2022 2. 3. $438,400 217,900 220,500 89,500 $ 131,000 Common stock outstanding January 1, 2022, was 26,700 shares, and 36,500 shares were outstanding at December 31, 2022. The market price of Skysong stock was $15 in 2022. Cash dividends of $21,300 were paid, $5,500 of which were to preferred stockholders.
Cash Accounts receivable (net) Other current assets December 31 Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings 2022 $ 29,100 50,000 90,100 54,500 500,500 $724,200 $85,000 144,900 342,000 152,300 $724,200 2021 $ 17,400 Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Lily Corporation Income Statements For the Years Ended December 31 2022 $737,000 $599,100 39,900 697,100 424,400 44,700 95,700 272,700 182,077 70,600 370,700 $599,100 $80,500 84,200 311,000 $ 90,623 123,400 $ 17,800 47,500 2021 2020 358,200 $531,000 63,500 44,000 $69,100 $605,400 31,000 299,000 574,400 370,500 113,400 $531,000 203,900 146,460 $ 57,440 49,500
Here is the income statement for Crane, Inc. Net sales Cost of goods sold Gross profit Expenses (including $14,800 interest and $21,600 income taxes) Net income Additional information: 1. 2. 3. a. b. Crane, Inc. Income Statement For the Year Ended December 31, 2025 C. Compute the following measures for 2025. (Round Earnings per share to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%) d. Common stock outstanding January 1, 2025, was 20,900 shares, and 36,200 shares were outstanding at December 31, 2025. (Use a simple average for weighted-average.) The market price of Crane stock was $12 on December 31, 2025. Cash dividends of $23,600 were declared and paid. Earnings per share Price-earnings ratio Payout ratio $449,500 218,400 231,100 77,600 $153,500 Times interest earned $ times % times
Operating data for Sandhill Corporation are presented as follows. 2027 2026 Net sales $827,400 $647,900 Cost of goods sold 525,399 408,177 Selling expenses 124,110 77,748 Administrative expenses 74,466 51,832 Income tax expense 37,233 25,916 Net income 66,192 84,227 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) SANDHILL CORPORATION Condensed Income Statements For the Years Ended December 31 Net sales $ Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income 2027 Amount Percent % $ % % % % ' " % % 10 $ % $ Amount 2026 Per
Compute the component percentages for Trixy Magic’s income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values.)
What is the year-over-year revenue change percent? Use the attached financial data to calculate the ratios for 2022. Round to the nearest decimal. Abercrombie & Fitch Co (ANF) Financial Data Revenues Cost of Sales Total Operating Expenses Interest Expense Income Tax Expense Diluted Weighted Shares Outstanding Cash + Equivalents Accounts Receivable Inventories Total Current Assets Total Assets Accounts Payable Total Current Liabilities Total Stockholders' Equity ANF Stock Price = $10.30 Select one O A. 5.3% B. 14.4% C. -1.4% O D. -3.5% 2022 $3,659.3 $1,545.9 $2,026.9 $28.5 $37.8 52.8 $257.3 $108.5 $742.0 $1,220.4 $2,694.0 $322.1 $935.5 $656.1 2021 $3,712.8 $1,400.8 $1,968.9 $34.1 $38.9 62.6 $823.1 $69.1 $525.9 $1,507.8 $2,939.5 $374.8 $1,015.2 $826.1
The following ratios have been computed for Pina Colada Company for 2022. Profit margin ratio 20 % Current ratio 2.5 :1 Times interest earned 12 times Debt to assets ratio 24 % Accounts receivable turnover 5 times Use the above ratios and information from the Pina Colada Company financial statements to fill in the missing information on the financial statements.The 2022 financial statements for Pina Colada Company with missing information follows: (Include calculations) PINA COLADA COMPANYComparative Balance SheetDecember 31, 2022 2021 Assets Cash $ 26,500 $ 37,100 Debt Investments 15,900 15,900 Accounts receivable (net) 53,000 Inventory 53,000 Property, plant, and equipment (net) 212,000 169,600 Total assets Liabilities and stockholders' equity Accounts payable $ 15,900 $ 26,500 Short-term notes payable 37,100 31,800 Bonds payable Enter…
Use the Ulta annual report to calculate profit margin, total debt ratio, and cash ratio for the year ending in 2021.
Summary financial information for Gandaulf Company is as follows. Compute the amount and percentage changes in 2022 using horizontal analysis, assuming 2024 is the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45,-45% or parentheses e.g. (45), (45%). Round percentages to 2 decimal places, e.g. 1.25%.) Current Assets Dec. 31, 2022 Dec. 31, 2024 $191,100 $210,000 $ Plant Assets 1,058,600 790,000 Total assets $1,249,700 $1,000,000 $ Increase (Decrease) in 2022 Amount Percent % % %
Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)