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

See similar textbooks

Similar questions

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.)
General accounting
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 amounts were taken from the financial statements of Concord Corporation: 2017 2016 Total assets $818000 $1020000 Net sales 726000 655000 Gross profit 376000 332000 Net income 118000 130000 Weighted average number of 90200 80000 common shares outstanding Market price of common stock $42 $36 The return on assets for 2017 is 12%. 13%. 14%. 6%.
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
Consider the following balance sheet for Go The Distance Trading Cards. Sales were $1,200,000 in the past year. Go The Distance Trading Cards Balance Sheet, 2013: Assets $ Current Assets $74,630.00 Net fixed Assets (Net PPE) $224,900.00 Total Assets $299,530.00 Liabilities and Shareholder Equity Current Liabilities $43,510.00 Long-term liabilities (Long term debt) $93,200.00 Total Liabilities $136,710.00 Shareholder equity $162,820.00 Total Liabilities and Shareholder Equity $299,530.00 What is the debt-to-asset ratio for this firm?
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 2017 income statement of Marin Company showed net income of $555,200 and a gain from discontinued operations of $46,400. Marin had 40,000 shares of common stock outstanding all year. Prepare Marin’s income statement presentation of earnings per share. (Round answers to 2 decimal places, e.g. 15.25.)
Calculate the P/R for (WMT) as of November 14, 2017, when the company's stock price closed at $91.09.2 The company's profit for the fiscal year ending January 31, 2017, was US$13.64 billion, and its number of shares outstanding was 3.1 billion.
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%.
Financial information for Kurzen INC. is presented below. December 31, 2017 December 31, 2016 Current assets $125,000 $100,000 Plant assets (net) 396,000 330,000 Current liabilities 91,000 70,000 Long - term liabilities 133,000 95,000 Common stock, $1 par 161,000 115,000 Retained earnings 136,000 150,000 Instructions: Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year?