Use the following financial statements to answerqueshons 13-18.Income Statement:SalesCost of Goods SoldR+DS6+ ADepreciation50,000Earnings Before Interest+Toxes 250,000Interest Expense20,000Taxable Income230,00057,500Income Tax ExpenseNet IncomeBalance Sheet:CashAccants ReceivableInventory$950,000400,000150,000100,000Pope Fixed Assets (Net)Total Assets2023120,000110,000172,50050,000670,000950,00080,00040,000230,000600,000950,0002022100,00095,00045.000600,000840,00070,00030,000Accounts PayableNotes PayableLong-Term DebtShareholders' EquityTotal Liabilities & Shareholders' Equity) Calculate 2023 Cash Flow to Creditors248,000492,000840,000Use the cash flow identity to estimate2023 Cash Flow to Stockholders

Introduction:A statement which shows inflow and outflow of cash under three different activities,…

Use the following financial statements to answer queshons 13-18. Income Statement: Sales Cost of Goods Sold R+D S6+ A Depreciation Earnings Interest Expense Taxable Income $950,000 400,000 150,000 100,000 50,000 Before Interest+Toxes 250,000 20,000 230,000 57,500 172,500 Income Tax Expense Net Income Balance Sheet: Cash Accants Receivable Inventory Property Fixed Assets (Net) Total Assets 2023 120,000 110,000 50,000 670,000 950,000 80,000 40,000 230,000 600,000 950,000 202 2 100,000 95,000 45,000 600,000 840,000 70,000 30,000 248,000 492,000 840,000 Accounts Payable Notes Payable Long-Term Debt Shareholders Equity Total Liabilities & Shareholders' Equity alculate 2023 Cash Flow to Creditors

Use the following financial statements to answer queshons 13-18. Income Statement: Sales Cost of Goods Sold R+D S6+ A Depreciation Earnings Interest Expense Taxable Income $950,000 400,000 150,000 100,000 50,000 Before Interest+Toxes 250,000 20,000 230,000 57,500 172,500 Income Tax Expense Net Income Balance Sheet: Cash Accants Receivable Inventory Property Fixed Assets (Net) Total Assets 2023 120,000 110,000 50,000 670,000 950,000 80,000 40,000 230,000 600,000 950,000 202 2 100,000 95,000 45,000 600,000 840,000 70,000 30,000 248,000 492,000 840,000 Accounts Payable Notes Payable Long-Term Debt Shareholders Equity Total Liabilities & Shareholders' Equity alculate 2023 Cash Flow to Creditors

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 152,250 99,300 4,500 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes Income tax expense Net income $ 10,000 Accounts payable Accrued wages payable 9,200 31,400 Income taxes payable 30,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 152,300 Retained earnings $ 236,100 Total liabilities and equity CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total…
A6
Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Operating activities: Comparative Balance Sheet Income Statement @ 550 D RSA $ 891 Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Thunder Corporation Statement of Cash Flows For This Year Ended December 31 334 $ 116 Santa Ending Balance 72 53 466 206 $ 425 53 $ 425 SER SIS The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase a stock during the year. The company…
LOWE'S Balance Sheets (in millions) Fiscal 2013 Fiscal 2012 Amount Percent Amount Percent Assets Current Assets Cash S 391 1.2% $ 541 1.7% Short-term Investments 185 0.6 125 0.4 Inventory 9.127 27.9 8,600 26.3 Other Current Assets 593 1.8 S18 1.6 Property and Equipment, Net Other Assets 20.834 63.6 21.477 65.7 1.602 $32.732 1405 S32.666 100,0% 4.9 4.3 Total Assets 100.0% Liabilities and Stockholders' Equity Current Liabilities S 8.876 27.1% $ 7,708 23.6% Long-term Liabilities 12003 36.7 11.101 34.0 Total Liabilities 20.879 63.8 18.809 57.6 11.853 $32732 36.2 Stockholders' Equity Total Liabilities and Stockholders' Equity 13,857 42.4 J00.0% $32,666 100.0% LOWE'S Income Statements (in millions) Fiscal 2013 Fiscal 2012 Amount Percent Amount Percent Net Sales Revenue $53,417 100.0% $50,521 100.0% Cost of Sales 34,941 65.4 33,194 17,327 65.7 Gross Profit 18,476 34.6 34.3 14,327 26.8 27.3 Operating and Other Expenses Interest Expense Income Tax Expense 13,767 476 0.9 423 0.8 1.387 2.6 1,178…
Direction: Using the following account titles below: Sales – 20,000 Interest Expense - 660 Cost of Goods Sold – 10,000 Rent Expense 2,000 Depreciation Expense – 1,000 Utilities Expense – 1,000 Selling Expenses – 2,000 Compute for the following: Gross Income Operating Income Net income
66. Subject :- Accounting
Complete the income statement table below Sales $15,000 Gross income Cost of goods sold Operating expenses Asset depreciation S8,000 $2,000 $1,000 Taxable income Tax (20%) Net income Net cash flow
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BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS Cash & Marketable Securities LIABILITIES Revenue Cost Of Goods Sold 28,681. 10 Accounts Payable Salaries Payable 449.90 1,611.20 20,768.80 Accounts Receivable 954.80 225.20 Gross Profit 7.912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Operating Expenses: Selling, General & Admin. Depreciation Operating income Other Current Assets Total Current Assets 116.60 5,166.50 Total Current Liabilities 2,955.20 5,980.80 Other Liabilities 693.40 307.30 1,688.90 1,129.70 2,348.40 (575.60) Machinery & Equipment Land 1,624.20 Total Liabilities 3,648.60 Buildings Depreciation Property, Plant & Equip. - Net Other Long Term Assets Total Long-Term Assets Interest SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) 4,591.40 120.90 828.50 5.401.70 1,637.30 618.10 1,019.20 Common Stock Income Before Taxes Retained Earnings Total Shareholder's Equity Income Taxes 4,712.30 6,230.20 Net Income Total Assets 9,878.80 Total…
J-Mark Superstores provides the following selected financial data. Cash and cash equivalents Short-term investments Accounts receivable Inventory Property, plant and equipment Long-term investments Total asset 2024 $ 852,540 45,050 1,120,545 2023 $ 750,235 39,194 1,030,901 2,812,020 2,615,179 4,212,686 3,749,291 96,555 82,072 9,139,396 8,266,871 Total liabilities 4,204,122 3,968,098 Total stockholders' equity 4,935,274 4,298,773 Net sales 15,579,865 13,710,281 Operating income 5,452,953 4,661,496 Interest expense 157,655 148,804 Investment income 5,947 4,851 Calculate the return on investments ratio for 2024. Note: Round your answer to 1 decimal place. Answer is complete but not entirely correct. Return on investments ratio 4.2 × %
Find the Net Sales