Nkj The comparative balance sheets of Marin Inc. at the beginning and the end of the year 2025 are as follows.AssetsMarin Inc.Balance SheetsDec. 31, 2025Jan. 1, 2025Inc./Dec.CashAccounts receivableEquipment$52,200$ 15,080$37,120 Inc.105,560102,0803.480 Inc45,24025,52019.720 Inc.Less: Accumulated depreciation-equipment19.72012.7606.960 IncTotal$183,280$129,920Liabilities and Stockholders' EquityAccounts payable$23.200$ 17,400$5,800 IncCommon stock116,00092,80023.200IncRetained earnings44.08019.72024,360Inc.Total$183,280$129.920Net income of $51,040 was reported, and dividends of $26.680 were paid in 2025. New equipment was purchased and none was sold.Prepare a statement of cash flows for the year 2025. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or inparenthesis eg. (15,000).)Marin Inc.Statement of Cash FlowsAdjustments to reconcile net income to> > >SeTextbook and Media>>

Step 1:There are two methods of cash flow statement Direct method Indirect method Cash flow…

Answered: The comparative balance sheets of Marin…

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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Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities 2022 $3,010 3,510 2,765 1,914 2021 $4,770 $1,908 3,195 3,028 1,621 $11,199 $9,752 $5,800
Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). Current assets 3M Company Balance Sheets (partial) Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities Screenshot Current ratio Working capital 2022 $ $3,180 3,600 2,738 1,932 $11,450 $4,830 2021 $1,836 3,180 3,019 1,590 Suppose that at the end of 2022, 3M management used $183 million cash to pay off $183 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital answer to million.) $9,625 $5,887 :1 million Done
Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $3,044 $1,887 Accounts receivable, net 3,100 3,040 Inventories 2,687 3,022 Other current assets 1.894 1,526 Total current assets $10,725 $9.475 Current liabilities $ 4,988 $5,893 (a) Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, eg 125:1) Current ratio 2021 2.15 :1 2022 1.60 :1 Working capital 2021 %24 5737 million 2022 %24 3582 million
Find the following using the data bellow Accounts receivable = 111,100,000 Current assets = 316,500,000 Total assets = 600,000,000 A. Return on assets B. Common equity C .Quick ratio
Account
Find the following
Comparitive balance sheet of Hillard Co. as of Dec 31, 2020 and 2021 is as under: Assets 2020 2021 Liabilities Cash Accounts Receivable Inventory Fixed Assets Investments Sales Cost of Goods Sold Gross profit 16,425 12,300 Salaries expenses Depreciation expense Income tax expense Admin. Expenses Net profit 16,100 163,000 13,500 221,325 28,025 10,600 Income statement for the year 2021 is as under: 18,400 206,300 9,200 272,525 829,400 614,450 214,950 12,900 11,600 1,150 164,400 24,900 Accounts Payable Salaries Payable Income tax payable Loans Payable Retained earnings Please prepare the cash flow statement using the indirect method. 2020 26,900 2,400 1,600 106,250 84,175 221,325 2021 33,450 3,100 2,050 113,250 120,675 272,525
Carla Vista Co. has these comparative balance sheet data: CARLA VISTA CO.Balance SheetsDecember 31 2022 2021 Cash $ 16,140 $ 32,280 Accounts receivable (net) 75,320 64,560 Inventory 64,560 53,800 Plant assets (net) 215,200 193,680 $371,220 $344,320 Accounts payable $ 53,800 $ 64,560 Mortgage payable (15%) 107,600 107,600 Common stock, $10 par 150,640 129,120 Retained earnings 59,180 43,040 $371,220 $344,320 Additional information for 2022: 1. Net income was $32,500. 2. Sales on account were $392,900. Sales returns and allowances amounted to $27,300. 3. Cost of goods sold was $217,300. 4. Net cash provided by operating activities was $57,200. 5. Capital expenditures were $30,000, and cash dividends were $19,000. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 Net plant and equipment $240,750 $310,600 a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio $8,850 $14,200 15,750 23,000 34,650 52,200 $ 59,250 $89,400 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 300,000 400,000 2020 times times times % times times times times Liabilities and Owners' Equity Current liabilities 2021 Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for…
For Items 9-10 Following are selected financial and operating data taken from the financial statements of Alamona Corporation: Cash Notes and Accounts Receivable, net Merchandise Inventory Marketable Securities short-term Land and Buildings (net) Bonds Payable long-term Accounts Payable - trade Notes Payable - short-term As of December 31 2023 2022 80,000 640,000 400,000 1,200,000 720,000 1,200,000 240,000 80,000 2,720,000 2,880,000 2,160,000 2,240,000 560,000 880,000 160,000 320,000 Sales (20% cash, 80% credit sales) Cost of Goods Sold For the Year-Ended December 31 2023 18,400,000 8,000,000 2022 19,200,000 11,200,000 Compute for the following ratio: 9. Current ratio as of December 31, 2023 a. 0.5:1 b. 2.0:1 c. 2.6:1 d. 3.2:1 10. Quick (acid test) ratio as of December 31, 2023 a. 2.0 to 1 b. 0.5 to 1 c. 1 to 1 d. 0.7 to 1 Page 4 of 4
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio

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