how much long-term debt did the firm have? Sybarix Group prepared its financial statementsfor 2015 based on the information below. Thecompany had cash of $1,206, inventory of$14,290, and accounts receivables of $6,589.The company's net fixed assets were $42,412,and other assets were $2,822. It had accountspayable of $11,580, notes payable of $2,886,common stock of $21,800, and retained earningsof $14,368. How much long-term debt did thefirm have?a. $12,314b. $16,685c. $18,334d. $22,342

To find the long-term debt, we need to calculate the total assets and total liabilities &…

Answered: Sybarix Group prepared its financial…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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Sybarix Group prepared its financial statements for 2015 based on the information below. The company had cash of $1,206, inventory of $14,290, and accounts receivables of $6,589. The company's net fixed assets were $42,412, and other assets were $2,822. It had accounts payable of $11,580, notes payable of $2,886, common stock of $21,800, and retained earnings of $14,368. How much long-term debt did the firm have? a. $12,314 b. $16,685 c. $18,334 d. $22,342
General accounting
ans plz
Given the following information about Sandhill Sporting Goods, Inc., construct a balance sheet for June 30, 2017. On that date the firm had cash and marketable securities of $25,135, accounts receivables of $43,758, inventory of $168,500, net fixed assets of $320,700, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $224,500, and common stock of $150,000. How much retained earnings did the firm have?
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Following is the balance sheet for 3M Company. At December 31 2015 2014 Cash and cash equivalents $ 1,798 $ 1,897 Marketable securities-current 118 1,439 Accounts receivable, net 4,154 4,238 Inventories 3,518 3,706 Other current assets 1,398 1,023 Total current assets 10,986 12,303 Marketable securities-noncurrent 126 117 Property, plant and equipment--net 8,515 8,489 Goodwill 9,249 7,050 Intangible assets-net 2,601 1,435 Prepaid pension benefits 188 46 1,053 $32,718 1,769 $31,209 Other assets Total assets $ $ Short-term debt & current portion of LT debt Accounts payable 2,044 106 1,694 1,807 Accrued payroll 644 732 Accrued income taxes 332 435 Other current liabilities 2,404 2,884 Total current liabilities 7,118 5,964 Long-term debt 8,753 6,705 Pension and postretirement benefits 3,520 3,843 Other liabilities 1,580 1,555 Total liabilities 20,971 18,067 3M Company shareholders' equity: Common stock 9. Additional paid-in capital Retained earnings 4,791 4,379 36,575 34,317 Treasury stock…
The comparative financial statements of Bettancort Inc. are as follows. The market price of Bettancort Inc. common stock was $71.25 on December 31, 2014. InstructionsDetermine the following measures for 2014, rounding to one decimal place:1. a.Working capital b. Current ratio c. Quick ratiod. Accounts receivable turnovere. Number of days' sales in receivablesf. Inventory turnoverg. Number of days' sales in inventoryh. Ratio of fixed assets to long-term liabilitiesi. Ratio of liabilities to stockholdersâ€™ equityj. Number of times interest charges are earnedk. Number of times preferred dividends are earned2. a. Ratio of net sales to assetsb. Rate earned on total assetsc. Rate earned on stockholders' equityd. Rate earned on common stockholders' equitye. Earnings per share on common stockf. Price-earnings ratiog. Dividends per share of common stockh. Dividend yield
Provide correct calculation
The 2021 income statement of Adrian Express reports sales of $18,957,000, cost of goods sold of $11,971,500, and net income of $1,690,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets. Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 Average collection period Average days in inventory Current ratio Debt to equity ratio Industry averages for the following four risk ratios are as follows: Risk Ratios Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days. 2 to 1 50% 2021 $ 690,000 1,580,000 1,980,000 4,890,000 $9, 140,000 365.0 days days to 1 % 2020 $ 850,000 1,090,000 1,490,000 4,330,000 $7,760,000 Required: 1. Calculate the four risk ratios listed above for Adrian Express in…
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of 2016. $26,500 Accounts receivable Accounts payable 12,200 Cash 20,500 Common stock 30,000 Land 10,000 Long-term notes payable 17,500 26,300 Merchandise inventory Retained earnings 23,600
Consider the following financial data for Terry Enterprises: Balance Sheet as of December 31, 2018 Cash $ 86,000 Accounts payable $ 15,500 Accts. receivable 91,500 Notes payable 93,500 Inventories 65,500 Accruals 19,500 Total current assets $ 243,000 Total current liabilities $ 128,500 Long-term debt 162,500 Net plant & equip. 419,500 Common equity 371,500 Total assets $ 662,500 Total liab. & equity $ 662,500 Statement of Earnings for 2018 Industry Average Ratios Net sales $ 642,500 Current ratio 2.2× Cost of goods sold 482,000 Quick ratio 1.7× Gross profit $ 160,500 Days sales outstanding 44 days Operating expenses 119,500 Inventory turnover 6.7× EBIT $ 41,000 Total asset turnover 0.6× Interest expense 14,500 Net profit margin 7.2% Pre-tax earnings $ 26,500…

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