Urban Health Services operates diagnostic imaging clinics across the Midwest. At the end of the current period, the company reports the following amounts: Assets $62,000 Liabilities $35,000 Dividends $4,000 Revenues $18,000 Expenses $11,000 Required: Calculate the net income.
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- Using the information provided below:Rubialac PaintsSelected Income Statement Items, 2020Cash Sales $2,500,000Credit Sales $9,500,000Total Sales $12,000,000COGS 7,000,000 Rubialac PaintsSelected Balance Sheet Accounts12/31/2020 12/31/19 ChangeAccounts Receivable $550,000 $400,000 $150,000Inventory $275,000 $250,000 $25,000Accounts Payable $150,000 $110,000 $40,000 What is the inventory turnover for Rubialac Paints? What is the average production cycle for the firm? What is the average collection cycle? What could Eagle Paints do to reduce the average collection cycle?The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.This problem
- Blossom Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2019 and 2020 follow. Blossom MedicalComparative Balance SheetAs of December 31 2020 2019 Assets Current assets Cash $352,000 $417,400 Accounts receivable, net 1,000,000 776,400 Inventory 717,000 681,000 Other current assets 381,300 247,000 Total current assets 2,450,300 2,121,800 Property, plant, & equipment, net 8,766,170 8,440,100 Total assets $11,216,470 $10,561,900 Liabilities and Stockholders’ Equity Current liabilities $3,155,000 $2,846,000 Long-term debt 3,702,600 3,892,600 Total liabilities 6,857,600 6,738,600 Preferred stock, $5 par value 58,900 58,900 Common stock, $0.25 par value 104,600 103,800 Retained earnings 4,195,370…Sandhill Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2019 and 2020 follow. Sandhill MedicalComparative Balance SheetAs of December 31 2020 2019 Assets Current assets Cash $380,000 $417,500 Accounts receivable, net 1,023,000 776,400 Inventory 742,000 681,050 Other current assets 381,300 247,050 Total current assets 2,526,300 2,122,000 Property, plant, & equipment, net 8,703,820 8,439,965 Total assets $11,230,120 $10,561,965 Liabilities and Stockholders’ Equity Current liabilities $3,169,000 $2,846,000 Long-term debt 3,702,700 3,892,600 Total liabilities 6,871,700 6,738,600 Preferred stock, $5 par value 58,950 58,950 Common stock, $0.25 par value 104,600 103,900 Retained earnings…Using the following information, determine the net operating income NOI. Subject Property Number of apartments 15 Market rent per month. 1000 Vacancy and collection losses 10% of PGI Operating expenses 5% of EGI Capital expenditures 10% of EGI
- After analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenue as the base amount. Round percentages to two decimal places. Here is the operating data for Yalis Cleaning, Inc.: 2021 2020Service revenue $523,000 $476,000Operating expenses 385,500 319,800Income tax expense 34,375 39,050Net income $103,125 $117,150Crane Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2019 and 2020 follow. Crane MedicalComparative Balance SheetAs of December 31 2020 2019 Assets Current assets Cash $366,000 $417,400 Accounts receivable, net 1,080,000 776,450 Inventory 736,000 681,100 Other current assets 381,350 247,050 Total current assets 2,563,350 2,122,000 Property, plant, & equipment, net 8,666,440 8,440,015 Total assets $11,229,790 $10,562,015 Liabilities and Stockholders’ Equity Current liabilities $3,169,000 $2,846,000 Long-term debt 3,702,600 3,892,700 Total liabilities 6,871,600 6,738,700 Preferred stock, $5 par value 59,000 59,000 Common stock, $0.25 par value 104,600 103,800 Retained earnings 4,194,590 3,660,515 Total stockholders’…Operating data for Taylor Corporation are presented below. Using the Excel spreadsheet provided, prepare a schedule showing a vertical analysis for 2020 and 2019. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold 520,000 408,000 Selling expenses 120,000 72,000 Administrative expenses 60,000 48,000 Income tax expense 30,000 24,000 Net income 70,000 48,000 (CGS percent. = CGS ÷ Sales rev.)
- You are considering two possible companies for investment purposes. The following data is available for each company. Company A Net credit sales, Dec. 31, 2019 $540,000 Net Accounts receivable, Dec 31, 2018 $120,000 Net accounts receivable, Dec 31, 2019 $180,000 Number of days sales in receivables ratio, 2018 103 days Net Income, Dec. 31, 2018 $250,000 Company B Net credit sales, Dec. 31, 2019 $620,000 Net Accounts receivable, Dec 31, 2018 $145,000 Net accounts receivable, Dec 31, 2019 $175,000 Number of days sales in receivables ratio, 2018 110 days Net Income, Dec. 31, 2018 $350,000 Additional Information: Company A: Bad debt estimation percentage using the income statement method is 6%, and the balance sheet…Entries for the Hospital income statements are listed in the following exhibit in alphabetical order. Reorder the data to reflect income statement format. Depreciation expense $90,000 General/administrative expenses $70,000 Interest expense $20,000 Net Income $30,000 Nonoperating income $40,000 Other operating revenue $10,000 Patient service revenue $440,000 Provision for bad debts $40,000 Purchased clinic services $90,000 Salaries and benefits $150,000Calculate FTE/AOB for the following results: If last year ratio was 4.82 – How does this year’s data compare? Inpatient Revenue $175,314,276 Inpatient Days 25,200 Outpatient Revenue $123,009,100 Productive labor hours 922,332 ( well explain all point of question and type the answer).
