The following data were taken from recent annual reports of Southwest Airlines, whichoperates a low-fare airline service to more than 50 cities in the United States:Current YearPrior YearInterest expense$147,000,000$194,000,000Income before income tax323,000,000685,000,000a. Determine the times interest earned ratio for the current and preceding years. Roundto one decimal place.What conclusions can you draw?b.

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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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The following data (in millions) were taken from the financial statements of Costco Whole- sale Corporation: Recent Year Prior Year $116,199 $112,640 Revenue Operating expenses Operating income 112,575 3,624 109,420 $3,220 a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income Comment on the results of your horizontal analysis in part (a) b.
Payton Company has the following segment revenues for the two most recent fiscal years. Segment Current Year (in millions) Prior Year (in millions) China $770 $650 Canada 326 240 Other countries 212 168 Total revenues $1,308 $1,058 Prepare a vertical analysis of the segment data. Calculate the percentage to four decimal places, then round your answer to one decimal place. Payton Company Vertical Analysis Current Year Prior Year Current Year Percent Prior Year Segment Amount Amount Percent (in millions) (in millions) China $770 $650 % Canada 326 240 Other countries 212 168 Total revenues $1,308 $1,058 Previous Next
Sheridan Company reports the following information (in millions) during a recent year: net sales, $10,705.0; net earnings, $340.0; total assets, ending, $5,150.0; and total assets, beginning, $5,120.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 1. Return on assets %2. Asset turnover times3. Profit margin %
eon Jung Kook Corp. is preparing its year-end financial statements and has identified the following operating segments and their external revenues and intersegment revenues, respectively:· Begin- P4,800,000; P2,400,000· Euphoria- P1,600,000; P400,000· Decalcomania- P1,500,000; P0· My Time- P800,000; P0· Still with You- P600,000; P0· Paper Hearts- P400,000; P0Which of the following are reportable segments based on revenue test?
The Moraine Company has net income of $167,850. There are currently 32.65 days' sales in receivables. Total assets are $856,000, total receivables are $148,100, and the debt-equity ratio is .65. a. What is the company's profit margin? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. What is the company's total asset turnover? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. c. What is the company's ROE? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. a. Profit margin b. Total asset turnover c. ROE % times %
8A. During the current year, Sokowski Manufacturing earned income of $342,385 from total sales of $6,375,343 and average capital assets of $10,106,928. What is the asset turnover? Round to the nearest to the hundredth, two decimal places and submit the answer in a percentage.
A company reports the following income statement and balance sheet information for the current year: Net income $128,290 Interest expense 11,157 Average total assets 1,811,000 Determine the return on total assets. Round the percentage to one decimal place.fill in the blank 1 %
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Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
Waller Company does business in two regional segments: North and South. The following annual revenue information was determined from the accounting system's invoice data: Current Year Prior Year Segment North South $ 80,000 260,000 $100,000 200,000 Total revenues $340,000 $300,000 Using horizontal analysis, determine the percentage change in revenues for the North region. Round to one decimal place. Oa. (20.0)% Ob. (22.4)% Oc. 22.4% Od. 20.0%
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