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The following are the balance sheet and income statement data of Jowie Corporation Balance Sheet Accounts (De cember 31) Cash Marketable Securities 2007 2008 150,000 283,000 850,000 1,000,000 Accounts Receivable, net 500,000 1,000,000 Inventories Land 750,000 500,000 550,000 500,000 500,000 500,000 Building, net Machinery and equipment (net) Goodwill Deferred Charges |Notes, Payable, Trade Accounts Payable, Trade Expenses Payable Long-term Notes- Due 2018 15% Preferred Stock, P100 par 1,700,000 400,000 1,500,000 400,000 100,000 90,000 150,000 100,000 610,000 40,000 790,000 60,000 2,250,000 2,500,000 500,000 500,000 Common Stock, P10 par Retain Earnings 1,500,000 1,500,000 250,000 523,000 2008 Income Statement Accounts |Sales Sales Returns and Allowances Inventory, Dec. 31, 2008 Inventory, Dec. 31, 2007 Purchases |Selling Expenses Administrative Expenses(including Depreciation of P250,000) 5,250,000 250,000 500,000 750,000 2,750,000 400,000 600,000 Interest on Long-term Notes 250,000 Income Taxes, 35% Additional Information: Dividends paid on preferred stock Dividends paid on common stock 1 75,000 2 162,000 Market price per share on common 3 stock 18

The following are the balance sheet and income statement data of Jowie Corporation Balance Sheet Accounts (De cember 31) Cash Marketable Securities 2007 2008 150,000 283,000 850,000 1,000,000 Accounts Receivable, net 500,000 1,000,000 Inventories Land 750,000 500,000 550,000 500,000 500,000 500,000 Building, net Machinery and equipment (net) Goodwill Deferred Charges |Notes, Payable, Trade Accounts Payable, Trade Expenses Payable Long-term Notes- Due 2018 15% Preferred Stock, P100 par 1,700,000 400,000 1,500,000 400,000 100,000 90,000 150,000 100,000 610,000 40,000 790,000 60,000 2,250,000 2,500,000 500,000 500,000 Common Stock, P10 par Retain Earnings 1,500,000 1,500,000 250,000 523,000 2008 Income Statement Accounts |Sales Sales Returns and Allowances Inventory, Dec. 31, 2008 Inventory, Dec. 31, 2007 Purchases |Selling Expenses Administrative Expenses(including Depreciation of P250,000) 5,250,000 250,000 500,000 750,000 2,750,000 400,000 600,000 Interest on Long-term Notes 250,000 Income Taxes, 35% Additional Information: Dividends paid on preferred stock Dividends paid on common stock 1 75,000 2 162,000 Market price per share on common 3 stock 18

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Evaluate the firm’s short-term solvency for 2008 by computing: a. Working Capital b. Current Ratio c. Acid-test/Quick Ratio
TOTAL POINTS = 93/93 The following are the balance sheet and income statement data of Jowie Corporation Balance Sheet Accounts (De ce mber 31) Cash Marketable Securities 2007 2008 150,000 283,000 850,000 1,000,000 Accounts Receivable, net 500,000 1,000,000 Inventories 750,000 500,000 Land 500,000 500,000 Building, net Machinery and equipment (net) Goodwill Deferred Charges Notes, Payable, Trade Accounts Payable, Trade 550,000 500,000 1,700,000 1,500,000 400,000 400,000 100,000 90,000 100,000 150,000 610,000 790,000 Payable Long-term Notes- Due 2018 15% Preferred Stock, P100 par 40,000 60,000 2,500,000 2,250,000 500,000 500,000 Common Stock, P10 par Retain Earnings 1,500,000 1,500,000 250,000 523,000 2008 Income Statement Accounts Sales Sales Returns and Allowances 5,250,000 250,000 Inventory, Dec. 31, 2008 Inventory, Dec. 31, 2007 Purchases Selling Expenses Administrative Expenses(including Depreciation of P250,000) Interest on Long-term Notes Income Taxes, 35% Additional Information: Dividends paid on preferred stock Dividends paid on common stock 500,000 750,000 2,750,000 400,000 600,000 250,000 1 75,000 2 162,000 Market price per share on common 3 stock 18
Transcribed Image Text:TOTAL POINTS = 93/93 The following are the balance sheet and income statement data of Jowie Corporation Balance Sheet Accounts (De ce mber 31) Cash Marketable Securities 2007 2008 150,000 283,000 850,000 1,000,000 Accounts Receivable, net 500,000 1,000,000 Inventories 750,000 500,000 Land 500,000 500,000 Building, net Machinery and equipment (net) Goodwill Deferred Charges Notes, Payable, Trade Accounts Payable, Trade 550,000 500,000 1,700,000 1,500,000 400,000 400,000 100,000 90,000 100,000 150,000 610,000 790,000 Payable Long-term Notes- Due 2018 15% Preferred Stock, P100 par 40,000 60,000 2,500,000 2,250,000 500,000 500,000 Common Stock, P10 par Retain Earnings 1,500,000 1,500,000 250,000 523,000 2008 Income Statement Accounts Sales Sales Returns and Allowances 5,250,000 250,000 Inventory, Dec. 31, 2008 Inventory, Dec. 31, 2007 Purchases Selling Expenses Administrative Expenses(including Depreciation of P250,000) Interest on Long-term Notes Income Taxes, 35% Additional Information: Dividends paid on preferred stock Dividends paid on common stock 500,000 750,000 2,750,000 400,000 600,000 250,000 1 75,000 2 162,000 Market price per share on common 3 stock 18
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