The Johnson Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of current year End of prior year Net sales revenue (all credit) $800,000 Cost of goods sold $504,000 Gross profit $296,000 Selling/general expenses $184,000 $ 32,000 Interest expense Net income Current assets $ 80,000 $71,000 $329,000 Long-term assets Total assets $400,000 Current liabilities $56,000 Long-term liabilities $ 84,000 Common stockholders' equity $260,000 Total liabilities and stockholders' equity $400,000 Inventory and prepaid expenses account for $28,000 of the current year's current assets. Average inventory for the current year is $12,000. Average net accounts receivable for the current year is $32,000. There are 40,000 shares of common stock outstanding. Total dividends paid during the current year were $60,000. The market price per share of common stock is $25. What is the company's current ratio for the current year? A. 0.79 O B. 1.27 O C. 0.29 O D. 3.55 $20,000 $280,000 $300,000 $16,000 $164,000 $120,000 $300,000

The Johnson Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of current year End of prior year Net sales revenue (all credit) $800,000 Cost of goods sold $504,000 Gross profit $296,000 Selling/general expenses $184,000 $ 32,000 Interest expense Net income Current assets $ 80,000 $71,000 $329,000 Long-term assets Total assets $400,000 Current liabilities $56,000 Long-term liabilities $ 84,000 Common stockholders' equity $260,000 Total liabilities and stockholders' equity $400,000 Inventory and prepaid expenses account for $28,000 of the current year's current assets. Average inventory for the current year is $12,000. Average net accounts receivable for the current year is $32,000. There are 40,000 shares of common stock outstanding. Total dividends paid during the current year were $60,000. The market price per share of common stock is $25. What is the company's current ratio for the current year? A. 0.79 O B. 1.27 O C. 0.29 O D. 3.55 $20,000 $280,000 $300,000 $16,000 $164,000 $120,000 $300,000

Name: The Johnson Corporation reported the following income statement and b
Uploaded: 2022-11-18T00:26:54.000Z
Channel: Bartleby
Description: The Johnson Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year.End of current yearEnd of prior yearNet sales revenue (all credit)$800,000Cost of goods sold$504,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Jennifer, a CFP® practitioner meets with new clients, Max and Alicia, for the first time. She reviews their overall financial and estate planning goals, and their list of current assets. Max and Alicia have the following assets: Max’s 401(k) $250,000 - Alicia is the beneficiary Alicia’s 403(b) $520,000 – Max is the beneficiary House owned as TbyE valued at $350,000 Vacation home Max inherited with his sister Ava as JTWROS valued at $500,000 Mutual fund account owned as TIC valued at $700,000 Bond portfolio owned JTWROS valued at $600,000 Max and Alicia have two children – Doug and John. Doug is single and has no children. John was killed in a car accident last year, leaving two children, Tammy and Denise. Max and Alicia ask Jennifer several questions about their estate planning. Assuming Max predeceases Alicia and Alicia does not change her will, what is the amount that Tammy will inherit at Alicia’s death? Select one: a. $1,235,000 b. $1,110,000 c. $617,500 d. $605,000
A bank has the following balance sheet: Cash Treasury Bonds (>1 yr) Corporate Bonds Rated A Mortgages Small Business Loans (1 yr) Tier 2 Capital Tier 1 Capital 25 15 44 4 3 9 100 (a) What is the Net Stable Funding Ratio? (b) The bank decides to satisfy Basel III by raising more (stable) retail deposits and keeping the proceeds in Treasury bonds. What extra retail deposits need to be raised?
5. Agnes Abanilla was granted a loan of P20,000 by her employer CPM Industrial Fabricator and Construction Corporation with an interest at 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds on the note. 6. A man borrowed from a bank under a promissory note that he signed in the amount of P25,000 for a period of one year. He received only the amount of P21,915 after the bank collected the advance interest and an additional amount of P85 for notarial and inspection fees. What was the rate of interest that the bank collected in advance?
! Required information [The following information applies to the questions displayed below.] Trading Cards, Incorporation Selected financial information ($ millions) 2020 2021 296 364 168 223 51 65 32 45 34 29 47 87 39 44 310 186 Net sales Cost of goods sold Depreciation Net income Finished goods inventory Accounts receivable Accounts payable Net fixed assets Year-end cash balance 415 123 Financial information for Trading Cards, Inc is given above. How much cash (in millions of dollars) did Trading Cards, Inc. collect from sales during 2021?
Don't use Excel and chatgpt pen or paper
Question A Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line..
Tex-House builds and sells houses for $200,000 each. The firms fixed costs are $3,000,000. 50 houses are built and sold each year. Profits total about $2,000,000. The firm estimates that it can change its production process by adding 4,000,000 to investment and $1,000,000 to fixed costs. This would reduce variable costs by $30,000 and increase output by 30 units. To permit sales of the new output, prices would have to be lowered by $20,000 per unit. Should the firm make the change? At the new production level, what price would make profits equal zero? Will the new production situation expose the firm to more or less risk?
Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 1,500 shares for $80 per share. Prepare the balance sheet after Lanni accepts the payment of shares from Microsoft. (Omit the "S" sign In your response.) C- 1. Assets Liabilities & Shareholders' Equity Microsoft shares Bank loan Computers Shareholders' equity Total Total
Problem 01-10 (algo) An owner can lease her building for $120,000 per year for three years. The explicit cost of maintaining the building is $40,000, and the implicit cost is $55,000. All revenues are received, and costs borne, at the end of each year. If the interest rate is 8 percent, determine the present value of the stream of: Instructions: Do not round intermediate calculations. Round your final calculation to two decimal places. a. Accounting profits. $217859.8 b. Economic profits. $68081.20
PLS HELP ASAP ON BOTH
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Buildings and equipment, net Accounts payable Common shares Retained earnings a. The gross margin is 25% of sales. b. Actual and budgeted sales data are as follows: March (actual) April May June $50,000 $60,000 $72,000 $ 8,000 20,000 36,000 120,000 21,750 150,000 12,250 July $90,000 $48,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are the result of March credit sales. d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other one-half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory. f. Monthly expenses are as follows:…
Problem 1 (What is the solution for this?) A corporation sold an issue of 20-year bonds, having a total face value of 10,000,000 Php for 9,500,000 Php. The bonds bear interest at 16%, payable semiannually. The company wishes to establish a sinking fund for retiring the bond issue and will make semiannual deposits that will earn 12%, compounded semiannually. Compute the annual cost for interest and redemption of these bonds. Ans should be: 1,730,000