The following information ($ in millions) comes from a recent annual report of Amazon.com, Inc.:Net sales$10,891Total assets4,447End of year balance in cashTotal stockholders' equity1,115516Gross profit (SalesNet increase in cash for the year- Cost of Sales)2,47215Operating expensesNet operating cash flowOther income (expense), net2,057633(22)Compute Amazon's total liabilities at the end of the year.Multiple Choice$ 3,931$ 4,529$ 4,447$ 2,264

Total Assets = Shareholders Equity + Liabilities

The following information ($ in millions) comes from a recent annual report of Amazon.com, Inc.: Net sales $10,891 Total assets 4,447 End of year balance in cash 1,115 Total stockholders' equity Gross profit (Sales – Cost of Sales) Net increase in cash for the year Operating expenses Net operating cash flow Other income (expense), net 516 2,472 15 2,057 633 (22) Compute Amazon's total liabilities at the end of the year. Multiple Choice $ 3,931 $ 4,529 $ 4,447 $ 2,264

The following information ($ in millions) comes from a recent annual report of Amazon.com, Inc.: Net sales $10,891 Total assets 4,447 End of year balance in cash 1,115 Total stockholders' equity Gross profit (Sales – Cost of Sales) Net increase in cash for the year Operating expenses Net operating cash flow Other income (expense), net 516 2,472 15 2,057 633 (22) Compute Amazon's total liabilities at the end of the year. Multiple Choice $ 3,931 $ 4,529 $ 4,447 $ 2,264

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): 2024 Sales revenue 2023 $2,825 $3,250 1,905 2,027 Cost of sales Gross profit 920 M. T 1,223 Operating expenses 570 593 Pretax earnings 350 Income tax expense (40%) 630 252 140 Net earnings $ 210 $ 378 $ 420 Sales revenue Cost of sales Gross profit Operating expenses Pretax earnings Income tax expense Net earnings 2022 $3,500 2,182 1,318 618 700 280 An audit revealed that in determining these amounts, the ending inventory for 2022 was understated by $38. Paun-ship and ug 2024 Required: 1. Revise these statements of earnings to reflect the correct amounts. (Do not round intermediate calculations. Round the final answers to the nearest dollar amount.) "anne om d PRUITT COMPANY Corrected Statement of Earnings 2023 2021 $3,775 2,513 1,262 622 640 256 384 2022 $
Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2014. Cost of Goods Sold 117,000 Inventory 125,000 General & Administrative Expenses 48,000 Net Cash Provided from Financing Activities 48,000 Dividends Paid 16,000 Net Sales 278,000 Selling & Marketing Expense 65,000 Interest Expense 23,000 Income Tax Expense 7,500
The following information is available for Skysong Corp. for the year ended December 31, 2025. Other revenues and gains $21,600 Other expenses and losses 3,000 Cost of goods sold 281,000 Sales discounts 3,200 Sales revenue 746,000 Operating expenses 210,000 Sales returns and allowances 8,800 Prepare a multiple-step income statement for Skysong Corp. The company has a tax rate of 25%.
The following information is available for Tamarisk Corp. for the year ended December 31, 2022. Other revenues and gains $23,800 Other expenses and losses 4,000 Cost of goods sold 292,000 Sales discounts 4,600 Sales revenue 760,000 Operating expenses 221,000 Sales returns and allowances 10,800 Prepare a multiple-step income statement for Tamarisk Corp. The company has a tax rate of 25%.
The financial statements for Castile Products, Incorporated, are given below: Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 10% Total liabilities. Stockholders equity Connon stock, $5 per value. Retained earnings Total stockholders equity Total liabilities and stockholders' equity Castile Products, Incorporated Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net incone before taxes Income taxes (30%) Net income $24,000 230,000 370,000 9,000 633,000 860,000 $1,493,000 $ 290,000 320,000 610,000 $150,000. 733,000 883,000 $1,493,000 $ 2,290,000 1,220,000 1,070,000 580,000 490,000 32,000 458,000 137,400 $ 320,600
Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT(Figures in $ millions) Net sales $ 13,700 Cost of goods sold 4,360 Other expenses 4,047 Depreciation 2,698 Earnings before interest and taxes (EBIT) $ 2,595 Interest expense 715 Income before tax $ 1,880 Taxes (at 35%) 658 Net income $ 1,222 Dividends $ 916 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities $ 95 $ 164 Receivables 2,682 2,610 Inventories 217 268 Other current assets 897 962 Total current assets $ 3,891 $ 4,004 Net property, plant, and equipment 20,033 19,975 Other long-term assets 4,276 3,830…
You are provided with the following information taken from Splish Brothers Inc.’s March 31, 2022, balance sheet. Cash $ 12,330 Accounts receivable 20,370 Inventory 36,900 Property, plant, and equipment, net of depreciation 120,500 Accounts payable 22,640 Common stock 153,800 Retained earnings 12,460 Additional information concerning Splish Brothers Inc. is as follows. 1. Gross profit is 26% of sales. 2. Actual and budgeted sales data: March (actual) $47,000 April (budgeted) 73,100 3. Sales are both cash and credit. Cash collections expected in April are: March $18,800 (40% of $47,000) April 43,860 (60% of $73,100) $62,660 4. Half of a month’s purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are: Purchases March $22,640…
Please help me with show all calculation thanku
The income statement for Sunland, Inc. is as follows:
The following infornation relates to Hodge Unlimited for the past two years. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long - term assets Total current liabilities Total long- term liabilities Common stock, no par, 2,500 shares, market value $96 per share Retained earnings The current ratio for the current year is closest to Current year $219,000 S125,000 $94,000 $32,000 $2,000 S25,000 $75,000 $26.000 $65,000 $2,000 $168,000 $162,750 $110,000 $22,000 $40,000 $158,750 Prior year $180,000 $110,000 $70,000 $30,000 $7,000 $18.000 S17,000 $35,000 $60,000 $1,000 $113,000 $187,751 S90,000 $78,000 $40,000 $92,751 A. 1.53. B. 2.24. C. 1.29. D. 1.51.
! Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Interest expense Income tax expense Total costs and expenses Net income Earnings per share For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year: 1 Year Ago: Current Year 1 Year Ago $ 27,988 81,119 106,155 9,197 259,602 $ 484,061 Current Year: 1 Year Ago: $ 383,860 195,076 Numerator: $ 118, 121 88,273 162,500 115,167 $ 484,061 Current Year Total liabilities 10,698 8,181 Numerator: Total equity Required 1…