THE COCA-COLA COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in millions except par value)December 31,ASSETSCurrent AssetsCash and cash equivalentsShort-term investmentsTotal Cash, Cash Equivalents and Short-Term InvestmentsMarketable securitiesTrade accounts receivable, less allowances of $516 and $516, respectivelyInventoriesPrepaid expenses and other current assetsTotal Current Assets2022$9,5191,04310,5621,0693,4874,2333,24022,5912021$9.6841,24210,9261,0993,5123,4142.99422,545If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been a pretty good estimate for the past couple of years. By how much is Coca Cola artificiallyoverstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $3.2Question 4 of 10

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Description: THE COCA-COLA COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in millions except par value)December 31,ASSETSCurrent AssetsCash and cash equivalentsShort-term investmentsTotal Cash, Cash Equivalents and Short-Term InvestmentsMarketable securitie

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THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9.519 1,043 10.562 1,009 3.487 4,233 3,240 22,591 2021 1,242 10.906 3.512 3,414 2.994 22,545 If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been pretty good estimate for the past couple of years. By how much is Coca Cola artificially overstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $23.2

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9.519 1,043 10.562 1,009 3.487 4,233 3,240 22,591 2021 1,242 10.906 3.512 3,414 2.994 22,545 If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been pretty good estimate for the past couple of years. By how much is Coca Cola artificially overstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $23.2

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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What does the vertical analysis reveal on ABC Corporation in terms of Statement of Financial Position
ASSETS Cash Accounts Receivable Inventory Plant and equipment Accumulated Depreciation TOTAL ASSETS LIABILITIES Accounts Payable Accrued Expenses Long Term Notes Payable TOTAL LIABILITIES EQUITIES Common Stock, No Par Retained Earnings TOTAL EQUITIES TOTAL LIABILITIES & EQUITIES COMPUTE THE 1. Current Ratio for 2020 & 2021 2. Quick Ratio for 2020 & 2021 2021 45,000.00 212,500.00 155,000.00 1,885,000.00 (480,000.00) 1,817,500.00 55,000.00 112,500.00 250,000.00 417,500.00 1,000,000.00 400,000.00 1,400,000.00 1,817,500.00 2020 50,000.00 207,500.00 140,000.00 1,662,500.00 (375,000.00) 1,685,000.00 47,500.00 110,000.00 237,500.00 395,000.00 1,000,000.00 290,000.00 1,290,000.00 1,685,000.00
BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS Cash & Marketable Securities LIABILITIES Revenue Cost Of Goods Sold 28,681. 10 Accounts Payable Salaries Payable 449.90 1,611.20 20,768.80 Accounts Receivable 954.80 225.20 Gross Profit 7.912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Operating Expenses: Selling, General & Admin. Depreciation Operating income Other Current Assets Total Current Assets 116.60 5,166.50 Total Current Liabilities 2,955.20 5,980.80 Other Liabilities 693.40 307.30 1,688.90 1,129.70 2,348.40 (575.60) Machinery & Equipment Land 1,624.20 Total Liabilities 3,648.60 Buildings Depreciation Property, Plant & Equip. - Net Other Long Term Assets Total Long-Term Assets Interest SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) 4,591.40 120.90 828.50 5.401.70 1,637.30 618.10 1,019.20 Common Stock Income Before Taxes Retained Earnings Total Shareholder's Equity Income Taxes 4,712.30 6,230.20 Net Income Total Assets 9,878.80 Total…