stockholders' equityAdditional Information for 2022:1 Land of $820,000 was obtained by issulng a note payable to the seller.2. Buldings of $896,000 and equipment of $38,960 were purchased using cash.3. Monthly payments during the year reduced notes payable by $10,033.4. Issued common stock for $1,320,000.5. Purchased 13,200 shares of treasury stock for $31 per share.6. Sold 7,200 shares of treasury stock at $32 per share.7. Declared and paid a cash dividend of $15,240.Required:Prepare the statement of cash flows for the year ènded December 31, 2022, using the indirect method. (List cashoutflows and any decrease in cash as negative amounts.)FUr UE Tear Cnueu Uecemuer at EUECash Flows from OperatingActivitiesAdjustments to reconcile net incometo net cash flows from operatingactivities:Net cash flow from operatingactivitiesCash Flows from InvestingActivitiesNet cash flow from investingactivitiesCash Flows from FinancingActivitiesNet cash flows from financingactivitiesCash at the beginning of the periodCash at the end of the periodNote: Noncash Activities The income statement, balance sheets, and additional information for Great Adventures, Inc, are provided below.GREAT ADVENTURES, INC.Income StatementFor the year ended December 31, 2022Net revenues:Expenses:Cost of goods soldOperating expensesDepreciation expenseInterest expenseIncome tax expenseTotal expenses$198,830$40,10070,92019,65010,77516,100157,545$ 40,485Net incomeGREAT ADVENTURES, INC.Balance SheetsDecember 31, 2022 and 2021Increase (I) orDecrease (D)20222021AssetsCurrent assets:CashAccounts receivableInventoryOther current assetsLong-term assets:LandBuildingsEquipmentAccumu lated depreciationTotal assets$ 302,74250, 48010, 2001,220$ 248,802 (I)50,480 (I)10,200 (I)4,560 (D)$ 53,9405,780820,000896,00094,960(28,450)$2,147,152 $117,800820,eee (I)896, e00 (I)38,960 (I)19,650 (I)56,000(8,800)Liabilities andStockholders EquityCurrent liabilities:Accounts payableInterest payableIncome tax payableOther current liabilitiesNotes payable (current andlong-term)Stockholders' equity:Common stockPaid-in capitalRetained earningsTreasury stockTotal liabilities andstockholders' equity34,88091016, 10030,6ee843,167$ 3,44091014,32031,448 (I)1,780 (I)30,6ee (I)33,2ееB09,967 (I)152,0001,195, 20060, 295(186, 000)$2,147,152 $117,80020,000132,00e (I)1,195,200 (I)25,245 (I)(186, eee) (I)35,e5eAdditional Information for 2022:1 Land of $820,000 was obtained by issulng a note payable to the seller.2. Buildings of $896,000 and equipment of $38,960 were purchesed using cash.3. Monthly payments during the year reduced notes payable by $10,033.-4. Issued common stock for $1,320.000.5 Purchased 13.200 shares of treasury stock for $31 per share.6. Sold 7,200 shares of treasury stock at $32 per share.7. Declared and paid a cash dividend of $15,240.

Cash Flow Statement - Statement of Cash Flow shows the movement of cash in the financial year. It…

stockholders equity Additional Information for 2022: 1. Land of $820,000 was obtained by issuing a note payable to the seller. 2. Buildings of $896,000 and equipment of $38,960 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $10,033. 4. Issued common stock for $1,320,000, 5. Purchased 13,200 shares of treasury stock for $31 per share. 6. Sold 7.200 shares of treasury stock at $32 per share. 7. Declared and paid a cash dividend of $15,240. Required: Prepare the statement of cash flows for the year ended December 31, 2022, using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities

stockholders equity Additional Information for 2022: 1. Land of $820,000 was obtained by issuing a note payable to the seller. 2. Buildings of $896,000 and equipment of $38,960 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $10,033. 4. Issued common stock for $1,320,000, 5. Purchased 13,200 shares of treasury stock for $31 per share. 6. Sold 7.200 shares of treasury stock at $32 per share. 7. Declared and paid a cash dividend of $15,240. Required: Prepare the statement of cash flows for the year ended December 31, 2022, using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities

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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A7 please help.....
Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $937,000 Preferred 5% stock, $100 par (no change during year) 243,000 Common stock, $50 par (no change during year) 1,770,000 Income before income tax for year 359,000 Income tax for year 70,000 Common dividends paid 88,500 Preferred dividends paid 12,150 Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)?
62.) Using Financial Statements for 2018-2019. The amount of shares of preferred stock for 2019 is 10,959.90. TRUE OR FALSE?
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 8% $2,000,000 Preferred $5 stock, $50 par $305,000 Common stock, $12 par $226,920.00 Income before income tax was $592,000, and income taxes were $88,750 for the current year. Cash dividends paid on common stock during the current year totaled $141,825. The common stock was selling for $300 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio fill in the blank 1 times b. Earnings per share on common stock $fill in the blank 2 c. Price-earnings ratio fill in the blank 3 d. Dividends per share of common stock $fill in the blank 4 e. Dividend yield fill in the blank 5 %
Current assets Net Fixed assets Total assets Accounts payable and accurals. Short term debt Long term debt Preferred Stock (10,000 shares) Common Stock (50,000 shares) Retained earnings Total common equity Total liabilities and equity $2,000 3,000 $5,000 $900 100 1,100 250 1,300 1,350 $2,650 $5,000 Sunrise's earnings per share last year were $3.20. The common stock sells for $52.00, last year's dividend (D.)was $2.25, and a flotation cost of 10% would be required to sell new common stock. Security analysts are projecting that the common dividend will grow at an annual rate of 8.8%. Sunrise's preferred stock pays a dividend of $2.90 per share, and its preferred stock sells for $25.00 per share. The firm's before-tax of debt is 12%, and its marginal tax rate is 25%. The firm's currently outstanding 10% annual coupon rate, long-term debt sells at par value. The market risk premium is 5.2%, the risk- free rate is 5.5%, and Sunrise's beta is 1.526. The firm's total debt, which is the sum of…
Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $878,000 Preferred 5% stock, $100 par (no change during year) 247,000 Common stock, $50 par (no change during year) 2,192,000 Income before income tax for year 322,000 Income tax for year 80,000 Common dividends paid 109,600 Preferred dividends paid 12,350 Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)? a.3.7 b.4.7 c.2.7 d.6.3
Current assets Net Fixed assets Total assets Accounts payable and accurals. Short term debt Long term debt Preferred Stock (10,000 shares) Common Stock (50,000 shares) Retained earnings Total common equity Total liabilities and equity $2,000 3,000 $5,000 $900 100 1,100 250 1,300 1,350 $2,650 $5,000 Sunrise's earnings per share last year were $3.20. The common stock sells for $52.00, last year's dividend (Do)was $2.25, and a flotation cost of 10% would be required to sell new common stock. Security analysts are projecting that the common dividend will grow at an annual rate of 8.8%. Sunrise's preferred stock pays a dividend of $2.90 per share, and its preferred stock sells for $25.00 per share. The firm's before-tax cost of debt is 12%, and its marginal tax rate is 25%. The firm's currently outstanding 10% annual coupon rate, long-term debt sells at par value. The market risk premium is 5.2%, the risk- free rate is 5.5%, and Sunrise's beta is 1.526. The firm's total debt, which is the…
Question-based on, "stockholders equity section". I have tried it but unable to get the correct answer.
please dont provide answer in an image format thank you
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% $1,400,000 Preferred $10 stock, $100 par 165,000 Common stock, $12 par 1,831,500.00 Income before income tax was $378,000, and income taxes were $56,250 for the current year. Cash dividends paid on common stock during the current year totaled $45,788. The common stock was selling for $20 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio times b. Earnings per share on common stock $ c. Price-earnings ratio d. Dividends per share of common stock $ e. Dividend yield %
Newly formed S&J Iron Corporation has 188,000 shares of $3 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 shares of the stock for $9 per share. On May 2, the company issued an additional 16,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount S&J Iron would report for paid-in capital in excess of par. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? Complete this question by entering your answers in the tabs below. Reg A…
Detroit Inc reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,500 Common stock 3,400 Paid-in capital—share repurchase 1,900 Treasury stock (at cost) 220 Paid-in capital—excess of par 30,300 During 2022 ($ in thousands), net income was $9,100; 25% of the treasury stock was resold for $510; cash dividends declared were $700; cash dividends paid were $450. What ($ in thousands) was shareholders' equity as of December 31, 2022?