What is Sarasota's return on assets for 2017 on these general accounting question? The following information is provided for Ivanhoe Company and SarasotaCorp.:(in $ millions)Ivanhoe Company Sarasota Corp.Net income 2017$170$350Net sales 20171,7904,790Total assets 12/31/15 1,0752,340Total assets 12/31/16 1,2853,150Total assets 12/31/17 1,1954,070What is Sarasota's return on assets (rounded) for 2017?a. 11.1%b. 9.7%c. 13.1%d. 8.6%

Step 1: Define Return on AssetsThe return on assets is one of the profitability and efficiency ratio…

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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 information is provided for Company A and Company B. (in $ millions) Net income 2028 Net sales 2028 Total assets 12/31/26 Total assets 12/31/27 Total assets 12/31/28 What is Company B's return on assets for 2028? OA) 14.0% OB) 10.5% OC) 12.0% Company A $165 1,650 1,000 1,050 1,150 OD) 15.6% Company B $ 420 4,900 2,400 3,000 4,000
The following information is provided for Oceanic Ventures and Pinnacle Holdings: (in $ millions) Oceanic Ventures Pinnacle Holdings Net income 2021 $280 $640 Net sales 2021 3,500 7,200 Total assets 12/31/19 2,400 4,600 Total assets 12/31/20 2,700 5,000 Total assets 12/31/21 3,000 5,500 Capital expenditures $150 $300 What is Pinnacle Holdings' return on assets (rounded) for 2021?
The following information is provided for Oceanic Ventures and Pinnacle Holdings: Oceanic Ventures Pinnacle Holdings (in $ millions) Net income 2021 $280 $640 Net sales 2021 3,500 7,200 Total assets 12/31/19 2,400 4,600 Total assets 12/31/202,700 5,000 Total assets 12/31/21 3,000 5,500 Capital expenditures $150 $300 What is Pinnacle Holdings' return on assets (rounded) for 2021?
I want to correct answer general accounting
1. Comprehensive analysis: The balance sheets and the profit and loss accounts of Maharaja Synthetics Limited for the last two years are given as follows: Particulars (Rs.in Thousands) 2017 2018 Net sales Other Income Total Income 788, 1 10 15,370 803,480 672,040 18,020 690,060 473,290 118,190 Cost of goods sold Other operating expenses Depreciation Interest Profit before tax 520,460 131,970 22,260 20,140 32,860 24,380 95,930 54,060 Тахек s 28,780 67,150 16,788 16,218 Profit after tax 37,842 Dividend 9,460 Retained earnings 50,362 28,382 Balance Sheet as on 31st March Particulars Assets Non-current assets Cash and bank Trade receivables Inventories Total Current assets 2018 2017 223,200 24,202 175,960 21,200 91,160 68,900 130,210 111,300 201.400 377,360 245.572 Total 468,772 Liabilities Shareholders fund (Note 1) 232,682 182,320 106,000 Long term debt Short term debt Trade payables Total current liabilities 137,800 58,300 39,990 98,290 58,300 30.740 89.040 377,360 Total 468,772…
The following condensed information was reported by Peabody Toys, Inc., for 2018 and 2017:($ in thousands)2018 2017Income statement informationNet sales $5,200 $4,200Net income 180 124Balance sheet informationCurrent assets $ 800 $ 750Property, plant, and equipment (net) 1,100 950Total assets $1,900 $1,700Current liabilities $ 600 $ 450Long-term liabilities 750 750Paid-in capital 400 400Retained earnings 150 100Liabilities and shareholders’ equity $1,900 $1,700Required:1. Determine the following ratios for 2018:a. Profit margin on salesb. Return on assetsc. Return on shareholders’ equity2. Determine the amount of dividends paid to shareholders during 2018.This exercise is based on the Peabody Toys, Inc., data from E 4–27.
Paolo Corp generated the following income/(loss) since it's inception in 2017: YearIncome/(loss) 2017 (5,000) 2018 7,000 2019 14,000 2020 (20,000) If Paolo generates $4,000 of income in 2021, what is the NOL carryforward to 2022? a.$3,200 b.$20,000 c.$800 d.$0 e.$4,000
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 Sales $ 1,625.0 $ 2017 1,300.0 Operating costs excluding depreciation and amortization 1,300.0 1,105.0 EBITDA $ 325.0 $ 195.0 Depreciation and amortization 39.0 31.0 Earnings before interest and taxes (EBIT) $ 286.0 $ 164.0 Interest 36.0 29.0 Earnings before taxes (EBT) $ 250.0 $ 135.0 Taxes (40%) 100.0 54.0 Net income $ 150.0 $ 81.0 Common dividends $ 135.0 $ 65.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 Assets Cash and equivalents $ 23.0 $ 2017 18.0 Accounts receivable 164.0 143.0 Inventories 343.0 312.0 Total current assets $ 530.0 $ 473.0 Net plant and equipment 390.0 312.0 Total assets $ 920.0 $ 785.0 Liabilities and Equity…
INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@ 21%) Net income $ 27,576 17,578 1,411 $ 8,587 526 8,061 1,693 $ 6,368 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Assets Current assets Cash and marketable securities 2022 2021 Liabilities and Shareholders' Equity Current liabilities $ 2,345 $ 2,345 Debt due for repayment Receivables Inventories Other current assets 1,384 131 1,098 1,344 126 Accounts payable Total current liabilities 625 Total current assets $ 4,958 $ 4,440 Fixed assets Property, plant, and equipment $ 24,686 2,813 2,992 2,662 Long-term debt $ 22,844 Other long-term liabilities Total liabilities 3,108 Total shareholders' equity $ 35,449 $ 33,054 Total liabilities and shareholders' equity 2022 2021 $3,412 $ 3,412 $ 394 3,152 $ 3,546 $ 13,642 3,066 $ 20,120 15,329 $ 35,449 $ 12,143 2,966 $ 18,655 14,399…
RFT Corporation 2018 Statement of comprehensive income ($ in millions) Sales $10,850 Costs of goods sold $8,410 Depreciation $190 EBIT $2,250 Interest $ 165 EBT $2,085 Taxes $710 Net income $1,375 Dividends paid $300 Addition to retained earnings $ 1,075 RFT Corporation Statement of financial position Years ended 2017 and 2018 ($ in millions ) 2017 2018 2017 2018 Cash $980 $960 Accounts payable $950 $730 Accounts rec. $950 $880 Notes payable $40 $150 Inventory $2,120 $1,750 Total $990 $ 880 Total $5,050 $3,590 Long-term debt $2,225 $100 Fixed assets $1,700 $2,540 Common stock $2,030 $ 3,570 Retained earnings $505 $1,580 Total assets $ 5,750 $6,130 Total liabilities and Owner's equity $5,750 $6, 130 During 2018, the quick ratio: Question 22 options: Increased. Decreased. Remained constant. Changed, but the direction of the change cannot be determined. None of the choices are correct.
Below is Company A's balance sheet at the end of 2022. What is the gross profits of Company A? 2022 AmountNet sales$1,000.0Variable operating costs 770.0Fixed operating costs 50.0Depreciation and 50.0Interest30.0Taxes20.0Preferred dividends5.0Common dividends25.0 amortization Group of answer choices $130 $230 $180 $1,000
he condensed balance sheet and income statement data for SymbiosisCorporation are presented below.SYMBIOSIS CORPORATIONBalance SheetsDecember 312014 2013 2012Cash $ 30,000 $ 24,000 $ 20,000Accounts receivable (net) 110,000 48,000 48,000Other current assets 80,000 78,000 62,000Investments 90,000 70,000 50,000Plant and equipment (net) 503,000 400,000 360,000$813,000 $620,000 $540,000 Current liabilities $ 98,000 $ 75,000 $ 70,000Long-term debt 130,000 75,000 65,000Common stock, $10 par 400,000 340,000 300,000Retained earnings 185,000 130,000 105,000$813,000 $620,000 $540,000SYMBIOSIS CORPORATIONIncome StatementsFor the Years Ended December 312014 2013Sales revenue $800,000 $750,000Less: Sales returns and allowances 40,000 50,000Net sales 760,000 700,000Cost of goods sold 420,000 406,000Gross profit 340,000 294,000Operating expenses (including income taxes) 230,000 209,000Net income $110,000 $ 85,000Additional information:1. The market price of Symbiosis common stock was $5.00, $3.50, and…

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