Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent.2019$18,7982,4946,7411,183SalesDepreciationCost of goods soldOther expensesInterestCashAccounts receivableShort-term notespayableLong-term debtNet fixed assetsAccounts payableInventoryDividends2018$17,0492,3865,7401,350Cash flow from assetsCash flow to creditorsCash flow to stockholders1,1151,3308,6819,27711,49813,5121,6841,65129,090 35,25472,79277,6406,2756,67020,441 21,8722,0292,324For 2019, calculate the cash flow from assets, cash flow to creditors, and cash flow tostockholders. (A negative answer should be indicated by a minus sign. Do not roundintermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Cash flow StatementA cash flow statement provides a detailed picture of how cash is generated and…

Answered: Use the following information for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Calculate economic profit based on the following information: WACC = 7.60%; Total Assets = $1,366; Net Income = $266; EBIT = $327; Payroll Payable = $20; Total Equity = $1,395; Rate = 10%; Cash = $66; Accounts Payable = $25; Bank Debt with interest rate of 7% = $45. (Hint: Accounts Payable and Payroll Tax Payable are the only non-interest bearing liabilities). O 15.85% O 13.60% O 14.28% O 15.04% O 11.58% O 13.50% O-13.50% O 23.45% O -7.60% O-15.85% O 13.85%
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 22 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 $ 23,549 2,516 6,390 1,441 1,180 8,746 11,628 1,814 29,480 73,091 6,353 20,662 2,679 Cash flow from assets Cash flow to creditors Cash flow to stockholders 2021 $ 19,188 2,624 6,871 1,248 1,395 9,667 13,902 1,781 35,579 78,030 7,060 22,002 2,454 For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. Sales Depreciation 2020 2021 $15,073 $15,036 1,731 1,806 Cost of goods sold 4,329 4,777 Other expenses 981 859 Interest 830 961 Cash 6,172 6,676 Accounts receivable 8,110 9,637 Short-term notes payable 1,240 1,217 Long-term debt 20,530 24,811 Net fixed assets 51,042 54,483 Accounts payable 4,496 4,854 Inventory 14,402 15,358 1,300 1,688 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) INGERSOLL, INCORPORATED Balance Sheet as of December 31 Current assets Assets 2020 2021
n its CASH BASIS income statement for the year ended June 30, 2020, Selena Corp. reported revenue of $142,000 (i.e., total cash receipts from sales). Additional information was as follows: Accounts receivable June 30, 2019 $40,000 Accounts receivable June 30, 2020 $45,600 Under the ACCRUAL basis, Selena Corp. should report sales revenue of A. $147,600 B. $102,000 C. $182,000 D. $136,400
How much is the restated balance of AMSTERDAM's retained earnings account at January 1, 2021?
7
Delta has interest receivable which has a carrying amount of $75,000 in its statement of financial position at 31 December 2020. The related interest revenue will be taxed on a cash basis in 2021. Delta has trade receivables that have a carrying amount of $105,000 in its statement of financial position at 31 December 2020. The related revenue has been included in its statement of profit or loss for the year to 31 December 2020. Required: According to HKAS 12 ‘Income Taxes’, what is the total tax base of interest receivable and trade receivables for Delta at 31 December 2020? A. $105,000 B. $75,000 C. Nil D. $180,000
The following balances were taken from the books of Skysong Corp. on December 31, 2025. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87,250 52,250 1,381,250 151,250 21,250 151,250 8,250 46,250 101,250 201,250 141,250 622,250 Assume the total effective tax rate on all items is 20%. Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings $41,250 29,250 156,250 195,250 171,250 101,250 98,250 33,250 61,250 101,250 151,250 501,250 22,250 Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per
Use the following information for Ingersoll, Inc., (assume the tax rate is 23 percent): 2019 2020 Sales $ 15,073 $15,036 Depreciation 1,731 1,806 Cost of goods sold 4,329 4,777 Other expenses 981 859 Interest 830 961 Cash 6,172 6,676 Accounts receivable 8,110 9,637 Long-term debt 20,530 24,811 Net fixed assets 51,042 54,483 Accounts payable 5,736 6,071 Inventory 14,402 15,358 Dividends 1,300 1,688 Prepare a balance sheet for this company for 2019 and 2020. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) INGERSOLL, INC. Assets Cash Accounts receivable Net fixed assets Inventory Current assets Balance Sheet as of Dec. 31 2019 2020 $ 6,172 $ 6,676 8,110 9,637 51,042 54,483 14,402 15,358 Total assets $ 86,654 $ 89,154 Liabilities Accounts payable $ 5,736 $ 6,071 Long-term debt 20,530 24,811
A. Prepare a multistep income statement and determine each of the following subtotals for 20x8 using the information above. Apply a 40% effective tax rate where applicable:
Everybody’s Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody’s Fitness Income Statement for 2021(in millions of dollars) Net sales (all credit) $ 1,385 Less: Cost of goods sold 540 Gross profits $ 845 Less: Other operating expenses 315 EBITDA $ 530 Less: Depreciation and amortization 152 EBIT $ 378 Less: Interest 175 EBT $ 203 Less: Taxes Net income $ Determine the firm’s 2021 tax liability. Tax Liability = ________ Determine the firm’s 2021 net income. Net Income = ________ Determine the firm’s 2021 average tax rate. (Round your answer to 2 decimal places.) Average Tax Rate = __________% Determine the firm’s 2021 marginal tax rate. Marginal Tax Rate = __________%
302. Subject : - finance

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