The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending ineither 2021 or 2022. All values are in thousands of dollars.Revenue2021$ 4,3002022$4,400Cost of goods soldDepreciation1,2001,300480500Inventories400435Administrative expenses430480Interest expense200200Federal and state taxes*680700Accounts payable300365Accounts receivable380420Net fixed assetst4,0004,710Long-term debt3,5005,500Notes payable875630esDividends paid340340Cash and marketable securities2,345430* Taxes are paid in their entirety in the year that the tax obligation is incurred.tNet fixed assets are fixed assets net of accumulated depreciation since the asset was installed.Construct a statement of cash flows for Fincorp for 2022.Note: Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.Fincorp IncorporatedStatement of Cash FlowsCash flows from operationsNet incomeNoncash expensesDepreciation expenseChanges in working capitalAdditions to notes payable($ in 000s)

Answers: Operating Activities:Net Income (from the income statement) = $4,400Add back depreciation =…

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Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable 2021 $ 4.500 1,900 600 290 540 130 420 280 440 Price 5,300 1.800 856 440 850 per share 2022 $ 4.600 2,000 620 350 590 Net fixed assets Long-tern debt Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. 130 440 320 510 6. 190 *Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that the market value (in thousands of dollars) of Fincorp's fixed assets in 2022 is $6,500 and that the value of its long-term debt is only…
The following information relates to SE10-5 through SE10-7: (in millions) Net sales... Cost of goods sold SE10-7. Gross profit. Selling and administrative expenses Income from operations Interest expense.. EVANS & SONS, INC. Income Statement For Years Ended December 31, 2019 and 2018 Income before income taxes Income tax expense. Net income (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory.. Other current assets. Total current assets Property, plant, & equipment (net) Other assets. Total Assets Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities. Total liabilities.. EVANS & SONS, INC. Balance Sheet December 31, 2019 and 2018 Stockholders' equity - common. Total Liabilities and Stockholders' Equity.. 2019 9,800 (5,500) 4,300 (2,800) 1,500 (300) $ 1,200 2019 100 900 500 400 2018 1,900 2,600 5,700 $10,200 9,300 (5,200) 4,100 (2,700) (220) (200) $980 $950 1,400 $ (250) 1,150 2018 300 800 650 250 2,000 2,500 5,900 $10,400…
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $ 4,100 $ 4,200 Cost of goods sold 1,700 1,800 Depreciation 470 490 Inventories 270 335 Administrative expenses 520 570 Interest expense 240 240 Federal and state taxes* 340 360 Accounts payable 320 355 Accounts receivable 350 395 Net fixed assets† 4,800 5,540 Long-term debt 2,400 2,860 Notes payable 687 540 Dividends paid 380 380 Cash and marketable securities 760 480 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was…
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $ 3,900 $ 4,000 Cost of goods sold 1,200 1,300 Depreciation 470 490 Inventories 330 400 Administrative expenses 470 520 Interest expense 180 180 Federal and state taxes* 480 500 Accounts payable 350 410 Accounts receivable 370 445 Net fixed assets† 5,000 5,850 Long-term debt 2,300 5,100 Notes payable 790 520 Dividends paid 490 490 Cash and marketable securities 2,525 410 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was…
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue 2021 $ 4,700 2022 $ 4,800 Cost of goods sold Depreciation 1,300 1,400 410 430 Inventories 250 295 Administrative expenses 440 490 Interest expense 240 240 Federal and state taxes* 680 700 Accounts payable 250 295 Accounts receivable 350 425 Net fixed assets+ 4,100 4,740 Long-term debt 2,500 4,500 Notes payable 870 530 Dividends paid 470 470 Cash and marketable securities 2,395 380 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2022. Note: Enter your answers in thousands of dollars. Negative amounts should be…
ed The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. you Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* 2021 $ 5,600 1,800 Average tax rate 420 250 2021 410 220 % 790 280 450 Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes, payable Dividends paid Cash and marketable securities Taxes are paid in their entirety in the year that the tax obligation is incurred. 4,900 2,000 1,010 320 800 2022 $ 5,700 1,900 t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. 440 285 460 220 810 What was the firm's average tax rate for each year? Note: Enter your answers as a percent rounded to 1 decimal places. 2022 325 525 % 5,530 2,410…
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $ 4,800 $ 4,900 Cost of goods sold 1,800 1,900 Depreciation 530 550 Inventories 250 310 Administrative expenses 440 490 Interest expense 160 160 Federal and state taxes* 560 580 Accounts payable 300 360 Accounts receivable 420 490 Net fixed assets† 5,800 6,500 Long-term debt 2,800 3,150 Notes payable 700 510 Dividends paid 370 370 Cash and marketable securities 810 490 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was…
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue 2021 $ 4,300 2022 $ 4,400 Cost of goods sold Depreciation 1,200 1,300 480 500 Inventories 400 435 Administrative expenses 430 480 Interest expense 200 200 Federal and state taxes* 680 700 Accounts payable 300 365 Accounts receivable 380 420 Net fixed assetst 4,000 4,710 Long-term debt 3,500 5,500 Notes payable 875 630 tes Dividends paid 340 340 Cash and marketable securities 2,345 430 Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2022. Note: Enter your answers in thousands of dollars. Negative amounts should be…
Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets. Total assets 2020 $ 6,170 4,440 380 $1,350 $ 130 38 $ 1,312 276 $ 1,036 2021 $ 235 1,070 910 2,100 1,745 $ 2,945 $ 3,245 3,780 3,560 $ 6,725 $ 6,805 Total liabilities & equity Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) Accounts payable Long-term debt Common stock Retained earnings How many dollars of sales were generated from every dollar of fixed assets during 2021? 2020 $ 1,635 850 3,320 920 $ 6,725 2021 $1,665 650 3,320 1,170 $ 6,805
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 $5,600 1,800 420 $5,700 1,900 440 285 Revenue Cont of gooda sold Depreciation Inventories 250 410 460 220 Administrative expenses Intereat expense Federal and state taxen Accounta payable Accounts receivable 220 790 810 325 280 450 525 Net fixed aBseta Long-term debt Notes payable Dividends paid Cash and marketable securities 5,530 2,410 740 4,900 2, 00০ 1,010 320 800 320 390 * Taxes are paid in their entirety in the year that the tax obligation is incurred, T Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that Fincorp has 445,000 shares outstanding. What were earnings per share? (Round your answers to 2 decimal places.) 2018 2019 Eamings per share.
Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets 2020 $ 150 1,150 1,825 $ 3,125 3,860 $ 6,985 $ 6,270 4,640 400 $ 1,230 46 $ 1,184 249 $935 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) 2021 $ 255 990 2,140 $ 3,385 3,680 $ 7,065 Total liabilities & equity Accounts payable Long-term debt Common stock Retained earnings BOLSA- How many dollars of sales were generated from every dollar of fixed assets during 2021? دا 2020 $1,735 890 3,400 960 $ 6,985 2021 $ 1,805 690 3,360 1,210 $ 7,065
Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets 2020 $150 1,150 1,825 $ 3,125 3,860 $ 6,985 $ 6,270 4,640 400 $ 1,230 46 $ 1,184 249 $935 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) 2021 $255 990 2,140 $ 3,385 3,680 $7,065 Accounts payable Long-term debt. Common stock. Retained earnings Total liabilities & equity. How many dollars of sales were generated from every dollar of fixed assets during 2021? 2028 $ 1,735 899 3,400 960 $ 6,985 2021 $ 1,805 690 3,360 1,210 $ 7,965

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