The liabilities of Sapphire Logistics increased by $85,000 during a period of time, while the owner's equity decreased by $40,000 during the same period. What must have happened to the assets of the business during this time? a. Decreased $125,000 b. Increased $45,000 c. Increased $85,000 d. Increased $40,000
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- Branch Corp.'s total assets at the end of last year were $310,000 and its net income after taxes was $22,750. What was its return on total assets? Select the correct answer. a. 8.34% b. 7.34% c. 6.84% d. 7.84% e. 6.34%Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,935 for the year. What was the company's net capital spending for the year? Multiple Choice O $35,685 $43,580 $21,750 $41,170 $83,990Novak Corporation's net income for the current year was $622000, Depreciation recorded on plant assets was $58000 and amortization expense was $93000. Accounts receivable and inventories increased by $49000 and $20000, respectively. Supplies and accounts payable decreased by $2000 and $39000, respectively. The equipment account balance increased by $55,000 and a $500,000 convertible bond was retired through the issuance of common stock. How much cash was provided by operating activities? O $565000 $667000 O $585000 $879000
- Assume a company had net income of $79,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities: Accounts payable $ 38,000 $ 44,000 Accrued liabilities $ 18,000 $ 15,000 Income taxes payable $ 13,000 $ 10,000 If the credits to the company’s accumulated depreciation account were $21,000, then based solely on the information provided, the company’s net cash provided by (used in) operating activities would be: Multiple Choice $63,000. $55,000. $105,000. $97,000.Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyQuantitative Problem: At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars): Sales $4,300.00 Operating costs (excluding depreciation) 3,095.00 EBITDA $1,205.00 Depreciation 325.00 EBIT $880.00 Interest 160.00 EBT $720.00 Taxes (40%) 288.00 Net income $432.00 Looking ahead to the following year, the company's CFO has assembled this information: Year-end sales are expected to be 6% higher than $4.3 billion in sales generated last year. Year-end operating costs, excluding depreciation, are expected to increase at the same rates as sales. Depreciation costs are expected to increase at the same rate as sales. Interest costs are expected to remain unchanged. The tax rate is expected to remain at 40%. On the basis of this information, what will be the forecast for Edwin's year-end net income? Round your answers to two decimal places. Do not round intermediate calculations. Enter all values as positive numbers. (in…
- I need answer of this question general financeFinance16. Gatland recorded uncollectible accounts expense of $30,000 and wrote off accounts receivable of $25,000 during the year. The net effect of these two transactions on working capital was a decrease of: a. $55,000. b. $30,000. c. $25,000. d. $5,000.
- Assume a company had net income of $61,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 46,000 $ 46,000 Inventory $ 53,000 $ 53,000 Current liabilities: Accounts payable $ 44,000 $ 49,000 Income taxes payable $ 10,000 $ 14,000 If the company did not sell any noncurrent assets during the period and its depreciation charges for the period were $21,000, then based solely on the information provided, the net cash provided by operating activities would be: Multiple Choice $49,000. $31,000. $73,000. $91,000.Please give me answer accounting..disturbed inc had....Assume a company had net income of $62,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 41,000 $ 46,000 Inventory $ 57,000 $ 53,000 Current liabilities: Accounts payable $ 42,000 $ 49,000 Income taxes payable $ 14,000 $ 14,000 The company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company’s accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Based solely on the information provided, the net cash provided by operating activities would be: Multiple Choice $71,000. $73,000. $83,000. $76,000.
