The balance sheet for the company at December 31, 2015, indicated that total assets were $173,000, total liabilities were $61,000, and Common Stock had a balance of $72,000. At December 31, 2016, assets had increased by $40,000 and there had been no change in the amount of Common Stock. Additional information for 2016 included the following: Revenues $143,000 Expenses 88,000 Dividends 9,000 What were the total liabilities on December 31, 2016? Answer pleaser

The balance sheet for the company at December 31, 2015, indicated that total assets were $173,000, total liabilities were $61,000, and Common Stock had a balance of $72,000. At December 31, 2016, assets had increased by $40,000 and there had been no change in the amount of Common Stock. Additional information for 2016 included the following: Revenues $143,000 Expenses 88,000 Dividends 9,000 What were the total liabilities on December 31, 2016? Answer pleaser

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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The following information was available for the year ended December 31, 2016: Sales $ 460,000 Net income 66,140 Average total assets 760,000 Average total stockholders' equity 365,000 Dividends per share 1.33 Earnings per share 3.00 Market price per share at year-end 27.60 a. Calculate margin, turnover, and ROI for the year ended December 31, 2016. (Round your intermediate calculations and final answers to 2 decimal places.) b. Calculate ROE for the year ended December 31, 2016. (Round your answer to 2 decimal places.) c. Calculate the price/earnings ratio for 2016. (Round your answer to 2 decimal places.) d. Calculate the dividend payout ratio for 2016. (Round your answer to 2 decimal places.) e. Calculate the dividend yield for 2016. (Round your answer to 2 decimal places.)
(Post-Balance-Sheet Events) At December 31, 2017, Coburn Corp. has assets of $10,000,000, liabilities of $6,000,000, common stock of $2,000,000 (representing 2,000,000 shares of $1 par common stock), and retained earnings of $2,000,000. Net sales for the year 2017 were $18,000,000, and net income was $800,000. As auditors of this company, you are makinga review of subsequent events on February 13, 2018, and you find the following.1. On February 3, 2018, one of Coburn’s customers declared bankruptcy. At December 31, 2017, this company owed Coburn $300,000, of which $60,000 was paid in January 2018.2. On January 18, 2018, one of the three major plants of the client burned.3. On January 23, 2018, a strike was called at one of Coburn’s largest plants, which halted 30% of its production. As of today (February 13), the strike has not been settled.4. A major electronics enterprise has introduced a line of products that would compete directly with Coburn’s primary line, now being produced in a…
Cece Company has provided the following data (ignore income taxes): 2016 revenues were $77,500.2016 net income was $33,900.Dividends declared and paid during 2016 totaled $5,700.Total assets at December 31, 2016 were $217,000.Total stockholders' equity at December 31, 2016 was $123,000. Retained earnings at December 31, 2016 were $83,000. Which of the following is correct? 2016 expenses were $37,900 Total liabilities at December 31, 2016 were $11,000. Retained earnings increased $28,200 during 2016. Common stock at December 31, 2016 was $206,000.
The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 2017, 20Y6, and 2015: December 31 Total assets Notes payable (8% interest) Common stock Preferred 4% stock, $100 part (no change during year) 20Y7 $204,000 70,000 28,000 14,000 20Y6 $184,000 70,000 28,000 14,000 73,380 Retained earnings 51,840 42,000 The 2017 net income was $22,100, and the 20Y6 net income was $10,400. No dividends on common stock were declared between 20Y5 and 2017. Preferred dividends were declared and paid in full in 2016 and 20Y7. a. Determine the return on total assets, the rate earned on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. When required, round to one decimal place. 20Y7 20Y6 Return on total assets Return on stockholders' equity Return on common stockholders' equity b. The profitability ratios indicate that Vidahill Inc.'s profitability has % % 20Y5 $164,000 70,000 28,000 % 14,000 M % % Since the rate…
Selected information from the comparative financial statements of Barcelona Company for the year ended December 31 appears below: 2017 2016 Accounts receivable (net) $200,000 175,000 Inventory 170,000 130,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 300,000 410,000 Net credit sales 900,000 700,000 Cost of goods sold 530,000 600,000 Interest expense 40,000 25,000 Income tax expense 60,000 29,000 Net income 120,000 85,000 Net cash provided by operating activities 250,000 135,000 Instructions Answer the following questions relating to the year ended December 31, 2017. Show computations. 1. The inventory turnover for 2017 is 2. The number of times interest earned in 2017 is 3. The accounts receivable turnover for 2017 is 4. The return on assets for 2017 is
Use the following financial statement information as of the end of each year: please answer the accounting question
Additional information: • Weighted-average ordinary shares in 2017 were $60,000 QUESTIONS Based on the financial data above, do the following: a. Calculate the financial ratio of VENUS TRADING COMPANY in 2017 below: • Current ratio • Account receivable turnover • Inventory turnover • Asset turnover • Return on assets • Return on ordinary shareholders equity • Earnings per share • Debts to total assets ratio Provide an interpretation for each of the financial ratio calculations above. b. Based on the calculation results in point a, provide an analysis of performance finance VENUS TRADING COMPANY in 2017.
The income statement of a corporation shows the following balance in Sales Revenue for the years 2017, 2016, and 2015. 2017: $676,000 2016: $625,000 2015: $610,000 Performing horizontal analysis on Sales Revenue would result in what percentage change for 2017? (Round to two decimal places.) 8% 108% 2% 11%
The following amounts were taken from the financial statements of Blue Spruce Corp.: 2017 2016 Total assets $821000 $1017000 Net sales 744000 656000 Gross profit 366000 321000 Net income 111000 118000 Weighted average number of 97500 97500 common shares outstanding Market price of common stock $49 $46 The profit margin ratio for 2017 is 14%. 18%. 16%. 15%.
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The 2017 annual report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 0000 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Instructions Compute the following ratios for Tootsie Roll for 2017. a. Asset turnover. b. Return on assets. c. Profit margin on sales. d. How can the asset turnover be used to compute the return on assets?
Stosch Company's balance sheet reported assets of $117,000, liabilities of $30,000 and common stock of $27,000 as of December 31, 2015. If Retained Earnings on the December 31, 2016 balance sheet is $78,000 and Stosch paid a $29,000 dividend during 2016, then the amount of net income for 2016 was which of the following? $47,000 $60,000 $29,000 $18,000