The Baldwin Company currently has the following balances on their balance sheet: Assets $198,371 Common Stock $10,873 Retained earnings $103,433 Suppose next year the Baldwin Company generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year?

The Baldwin Company currently has the following balances on their balance sheet: Assets $198,371 Common Stock $10,873 Retained earnings $103,433 Suppose next year the Baldwin Company generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 22P: Roseau Company is preparing its annual earnings per share amounts to be disclosed on its 2019 income...

See similar textbooks

Similar questions

DIVIDENDS Brooks Sporting Inc. is prepared to report the following 2019 income statement (shown in thousands of dollars). Prior to reporting this income statement, the company wants to determine its annual dividend. The company has 320,000 shares of common stock outstanding, and its stock trades at 37 per share. a. The company had a 25% dividend payout ratio in 2018. If Brooks wants to maintain this payout ratio in 2019, what will be its per-share dividend in 2019? b. If the company maintains this 25% payout ratio, what will be the current dividend yield on the companys stock? c. The company reported net income of 1.35 million in 2018. Assume that the number of shares outstanding has remained constant. What was the companys per-share dividend in 2018? d. As an alternative to maintaining the same dividend payout ratio. Brooks is considering maintaining the same per-share dividend in 2019 that it paid in 2018. If it chooses this policy, what will be the companys dividend payout ratio in 2019? e. Assume that the company is interested in dramatically expanding its operations and that this expansion will require significant amounts of capital. The company would like to avoid transactions costs involved in issuing new equity. Given this scenario, would it make more sense for the company to maintain a constant dividend payout ratio or to maintain the same per-share dividend? Explain.
Please give me answer general accounting
Current balances in liability and equity accounts: Total liabilities: $28,059,085, Common Stock: $13,308,000, Retained Earnings: $59,143,173. Next year the company generates $36,000,000 in net profit and pays $15,000,000 in dividends. Total Liabilities and Common Stock remain unchanged. What will total assets be next year?
Compute the amount of liabilities for Company E at the beginning of the year. End of Year $ Assets Equity, beginning of year Add: Stock issuances Add: Net income 115,920 Less: Cash dividends Equity, end of year Beginning of Year Assets $ = = = 101,010 = $ $ $ Liabilities + 91,576 + 6,500 8,642 15,142 11,000 24,344 Liabilities 101,010 + + GA $ Equity 24,344 Equity
What is the net income in the current year?
ABC Company provided the following information for the year 2022:
(Figures in $ millions) Assets 2021 2022 Liabilities and Shareholders' Equity 2021 2022 Current assets $ 310 $ 420 Current liabilities $ 210 $ 240 Net fixed assets 1,200 1,420 Long-term debt 830 920 Required: a&b. What was shareholders’ equity at the end of 2021 and 2022? c. If Newble paid dividends of $100 million in 2022 and made no stock issues, what must have been net income during the year? d. If Newble purchased $300 million in fixed assets during 2022, what must have been the depreciation charge on the income statement? e. What was the change in net working capital between 2021 and 2022? f. If Newble issued $200 million of new long-term debt, how much debt must have been paid off during the year
The balance in Retained Earnings at the end of 2020 was $75,000. The balance in Retained Earning at the end of 2021 was $83,000. If the profit for 2021 was $25,00o, how much were the dividends declared? $ 8,000 $ 25,000 $ 17,000 O $ 33,000
Please answer in good accounting form. Thankyou What is the retained earnings balance ending December 31, 2021?
The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses: Operating expenses. Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds $852,000 27,000 7,400 12,000 42,000 $3,006,000 1,944,000 1,062,000 940, 400 $ 121,600 VIRTUAL GAMING SYSTEMS Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable. Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Balance Sheets December 31 2021 $180,000 75,000 99,000 11,400 99,000 204,000 264,000 (63,000) $869,400 $ 60,000 4,800 12,000 279,000 294,000 219,600 2020 $138,000 54,000 129,000…
Examine the following income statement: Approximately how much does the outstanding debt cost shareholders every year? a. $50 b. $33 c. $88
stockholders' equity of Chemasky Company at the beginning and end of 2021 totaled $120,000 and $139,000, respectively. Assets at the beginning of 2021 were $145,000. If the liabilities of rnasky Company increased by $70,000 in 2021, how much were total assets at the end of 2021? Use the accounting equation. A. $56,000 B. $234,000 C. $215,000 D. $214,000 CI