The following information related to TRT Company for the years 2019 and 2020.1. Income Statement Information20192020Net Sales$310,000$250,000Cost of Goods Sold00,000n6,000Operating Expense46,00041,000Interest Expernse9,00010,200Income Tax Expense10,2009,600Net Income154,000103 2002. Other Infomation:20192020Total Assets$250,000$190,000Construction in Progress15,00014,200intangible Assets7,0007,000Long-term debts70,00070,000Current liabilities40,00050,000Preferred Stocks, 5%10,00010,000Common Stocks.210,000150,000Dividend For Common shares84,00060,000Market Price of Common Shares16103. Common Stock outstanding information:*No change in outstanding common shares during 2019.in 2020 the following changes occurred:January 1.2020 (Beginning)40,000April 1. 2020 Shares issued20,000July 1. 2020 Purchased Treasury shares6,000Sept 30. 2020 Shares issued8,000November 1.2020 Stock Dividend 10% issuedDec 31.2020 Shares issued1,950instructionsFor the year 2020, Compute:Return on InvestmentO S0%O46%O35%O 45%

The return on investment ratio (also known as ROI) would be the most popular profitability…

The following information related to TRT Company for the years 2019 and 20 1. Income Statement Information 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 00,000 66,000 Operating Expense 46,000 41,000 Interest Expense 9,000 10,200 Income Tax Expense 10,200 9,600 Net income 154,000 103,200

The following information related to TRT Company for the years 2019 and 20 1. Income Statement Information 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 00,000 66,000 Operating Expense 46,000 41,000 Interest Expense 9,000 10,200 Income Tax Expense 10,200 9,600 Net income 154,000 103,200

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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es MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable $ 85,650 26,000 61,000 Cash flows from operating activities: Net income 32,400 2,150 2020 $ 525,000 335,600 189,400 123,000 38,000 28,400 9,500 $ 18,900 Changes in current operating assets and liabilities $ 27,800 34,000 54,300 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. 26,700 2,400 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 38,000 $ $ 18,300 38,000 56,300
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Using Financial Statements for 2020, current ratio for the year 2020 is 1.62.
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