Use the following financial information to answer the question. Balance Sheet as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Cash Liabilities and Owner's Equity $850 $126 Accounts payable $1,080 $970 Accounts 1,210 1,370 Short-term notes payable 500 0 receivable Inventory Net fixed assets 4,350 21,900 4,610 Long-term debt 11,900 11,500 24,300 Common stock 6,000 6,200 Retained earnings 8,830 9,736 Total assets $28,310 $30,406 Total liabilities and owners $28,310 $30,406 equity 2016 Income Statement Sales $30,710 Cost of goods sold 18,470 Depreciation Interest Taxes 6,132 744 Net income 1,824 $3,540 What are the values of the three components of the DuPont identity? Use ending balance sheet values. a. .1168; 1.01, 5.241 b. 1153, 1.01; 4259 c. .1153, 1.01; 1.9080 d. .1168; .99; .5241
Use the following financial information to answer the question. Balance Sheet as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Cash Liabilities and Owner's Equity $850 $126 Accounts payable $1,080 $970 Accounts 1,210 1,370 Short-term notes payable 500 0 receivable Inventory Net fixed assets 4,350 21,900 4,610 Long-term debt 11,900 11,500 24,300 Common stock 6,000 6,200 Retained earnings 8,830 9,736 Total assets $28,310 $30,406 Total liabilities and owners $28,310 $30,406 equity 2016 Income Statement Sales $30,710 Cost of goods sold 18,470 Depreciation Interest Taxes 6,132 744 Net income 1,824 $3,540 What are the values of the three components of the DuPont identity? Use ending balance sheet values. a. .1168; 1.01, 5.241 b. 1153, 1.01; 4259 c. .1153, 1.01; 1.9080 d. .1168; .99; .5241
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Financial accounting....use the following. ...
Transcribed Image Text:Use the following financial information to answer the question.
Balance Sheet as of December 31, 2015 and 2016
2015
2016
2015
2016
Assets
Cash
Liabilities and Owner's Equity
$850
$126
Accounts payable
$1,080
$970
Accounts
1,210 1,370
Short-term notes payable
500
0
receivable
Inventory
Net fixed assets
4,350
21,900
4,610
Long-term debt
11,900
11,500
24,300
Common stock
6,000
6,200
Retained earnings
8,830
9,736
Total assets
$28,310 $30,406
Total liabilities and owners
$28,310
$30,406
equity
2016 Income Statement
Sales
$30,710
Cost of goods sold 18,470
Depreciation
Interest
Taxes
6,132
744
Net income
1,824
$3,540
What are the values of the three components of the DuPont identity? Use ending balance
sheet values.
a. .1168; 1.01, 5.241
b. 1153, 1.01; 4259
c. .1153, 1.01; 1.9080
d. .1168; .99; .5241
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