The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2022 $ 644,992 47,721 346,452 116,635 1,155,800 575,832 $ 1,731,632 $ 467,902 509,045 1,222,587 $ 1,731,632 2021 $ 759,044 41,710 395,514 119,220 1,315,488 626,482 $ 1,941,970 $ 447,401 521,986 1,419,984 $ 1,941,970 2020 $ 748,693 39,521 315,208 98,988 1,202,410 572,802 $ 1,775,212 $ 401,837 421,341 1,353,871 $ 1,775,212 Cash and short-term investments Accounts receivable Inventory Other current assets Total current assets Long-lived assets Total assets Current liabilities Total liabilities Shareholders' equity Total liabilities and equity Income Statement Sales Cost of sales Gross margin Operating expenses Earnings before interest and taxes $ 3,478,602 2,099,480 $ 1,379,122 975,684 $ 403,438 $ 246,108 94 $ 3,121,465 1,989,471 $ 1,131,994 855,385 $ 276,609 $ 153,105 196 $ 2,948,094 1,777,143 $ 1,170,951 852,176 $318,775 $ 142,047 175 47,137 Net income Interest paid in cash Taxes paid in cash Cash Flows Cash flow from operations Capital expenditures Dividends 143,409 100,456 $ 576,671 95,339 86,992 $ 489,317 92,266 86,992 $ 394,416 78,704 84,566

The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2022 $ 644,992 47,721 346,452 116,635 1,155,800 575,832 $ 1,731,632 $ 467,902 509,045 1,222,587 $ 1,731,632 2021 $ 759,044 41,710 395,514 119,220 1,315,488 626,482 $ 1,941,970 $ 447,401 521,986 1,419,984 $ 1,941,970 2020 $ 748,693 39,521 315,208 98,988 1,202,410 572,802 $ 1,775,212 $ 401,837 421,341 1,353,871 $ 1,775,212 Cash and short-term investments Accounts receivable Inventory Other current assets Total current assets Long-lived assets Total assets Current liabilities Total liabilities Shareholders' equity Total liabilities and equity Income Statement Sales Cost of sales Gross margin Operating expenses Earnings before interest and taxes $ 3,478,602 2,099,480 $ 1,379,122 975,684 $ 403,438 $ 246,108 94 $ 3,121,465 1,989,471 $ 1,131,994 855,385 $ 276,609 $ 153,105 196 $ 2,948,094 1,777,143 $ 1,170,951 852,176 $318,775 $ 142,047 175 47,137 Net income Interest paid in cash Taxes paid in cash Cash Flows Cash flow from operations Capital expenditures Dividends 143,409 100,456 $ 576,671 95,339 86,992 $ 489,317 92,266 86,992 $ 394,416 78,704 84,566

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter8: Internal Control And Cash

Section: Chapter Questions

Problem 5PEA: Financial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b....

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The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2022 2021 2020 Cash and short-term investments $ 644,992 $ 759,044 $ 748,693 Accounts receivable 47,721 41,710 39,521 Inventory 346,452 395,514 315,208 Other current assets 116,635 119,220 98,988 Total current assets 1,155,800 1,315,488 1,202,410 Long-lived assets 575,832 626,482 572,802 Total assets $ 1,731,632 $ 1,941,970 $ 1,775,212 Current liabilities $ 467,902 $ 447,401 $ 401,837 Total liabilities 509,045 521,986 421,341 Shareholders’ equity 1,222,587 1,419,984 1,353,871 Total liabilities and equity $ 1,731,632 $ 1,941,970 $ 1,775,212 Income Statement Sales $ 3,478,602 $ 3,121,465 $ 2,948,094 Cost of sales 2,099,480 1,989,471 1,777,143 Gross margin $ 1,379,122 $ 1,131,994 $ 1,170,951 Operating expenses 975,684 855,385 852,176 Earnings before interest and taxes $…
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Please complete the statement of cashflows as required below: A comparative balance sheet and an income statement for Burgess Company are given below: Burgess CompanyComparative Balance Sheet(dollars in millions) Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $ 44 $ 91 Accounts receivable 690 633 Inventory 675 630 Total current assets 1,409 1,354 Property, plant, and equipment 1,555 1,529 Less accumulated depreciation 800 666 Net property,plant, and equipment 755 863 Total assets $ 2,164 $ 2,217 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 270 $ 165 Accrued liabilities 185 165 Income taxes payable 87 77 Total current liabilities 542 407 Bonds payable 440 650 Total liabilities 982 1,057 Stockholders' equity: Common stock 170 170 Retained earnings 1,012 990 Total stockholders' equity 1,182 1,160 Total liabilities and stockholders' equity $…
Financial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b. Interpret the results computed in (a).
E Rea The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement. Balance Sheet 2022 2021 2020 Cash and short-term investments Accounts receivable Inventory Other current assets $ 638,992 47,121 340,452 123,235 1,149,800 578,832 $1,728,632 $ 452,902 506,645 1,221,987 $1,728,632 $ 753,044 41,110 383,514 125,820 1,303,488 635,482 $1,938,970 $ 429,401 520,186 1,418,784 $ 1,938,970 $742,693 38,321 309,208 100,188 1,190,410 581,802 $ 1,772,212 $ 395,837 419,541 1,352,671 $ 1,772,212 Total current assets Long-lived assets Total assets Current liabilities Total liabilities Shareholders' equity Total liabilities and equity Income Statement Sales $ 3,477,402 2,093,480 $ 1,383,922 981,084 $ 402,838 $ 240,108 88 142,809 $ 3,120,865 1,983,471 $ 1,137,394 861,385 $ 276,009 $ 152,505 190 100,156 $ 2,946,894 1,771,143 $ 1,175,751 857,576 $318,175 $ 141,447 169 46,537 Cost of sales Gross margin Operating…
Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), In condensed form, including some information from the cash flow statement: (amounts are in millions) Mem Good Foods Incorporated 2019 S 706 372 38 Balance Sheet Cash and short-term Investments Accounts receivable Inventory Other current assets Long-lived assets 382 4,008 $ 5,506 $1,379 total assets Current liabilities Total liabilities Noncontrolling interest 11,138 Shareholders equity Total liabllities and equity (5,632) $ 5,506 Incone Statenent Sales $6, 386 3,500 $2,070 $1,627 309 Cost of sales Gross margin Earnings before interest and taxes Interest Taxes 326 623 Income fron discontinued operations Net income $1,615 Share price Earnings per share liumber of outstanding shares (millions) Cash Flows Cash flow from operatilons Capital expenditures Dividends $65 4.31 355.2 $1,206 424 754
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PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $890 11 $901 Gain on sale of building Expenses and loss: Cost of goods sold Salaries $ 345 129 53 Insurance 132 Depreciation Interest expense Loss on sale of equipment 59 13 731 170 Income before tax 85 Income tax expense $ 85 Net income PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year Change $ 61 2021 2020 Cash 152 91 Accounts receivable Inventory 342 207 135 312 57 228 120 78 181 (131) (49) 120 36 17 (37) 443 Prepaid insurance Accounts payable Salaries payable Deferred tax liability Bond discount 106 108 84 61 218
A4