Velox Technologies, Inc. began the year 2020 with $30 million in retained earnings. The firm earned a net income of $10 million in 2020 and paid $1.5 million to its preferred stockholders and $4 million to its common stockholders. What is the year-end 2020 balance in retained earnings for Velox Technologies?
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- In 2021, Jake's Jamming Music, Inc., announced an ROA of 8.65 percent, ROE of 15.40 percent, and profit margin of 15.1 percent. The firm had total assets of $10.4 million at year-end 2021. Calculate the 2021 value of net income available to common stockholders for Jake’s Jamming Music, Inc. (Enter your answer in dollars. Round your answer to the nearest whole dollar.) Net Income = _________ Calculate the 2021 common stockholders’ equity for Jake’s Jamming Music, Inc. (Enter your answer in dollars not in millions and round to the nearest whole dollar.) Common Stockholders' Equity = _______ Calculate the 2021 net sales for Jake’s Jamming Music, Inc. (Enter your answer in dollars not in millions and round to the nearest whole dollar.) Net Sales = __________The 2021 and 2020 balance sheets for Sunset Industries are provided below. The company’s sales for 2021 were $1,320 million, and EBITDA was 15% of sales. Furthermore, depreciation amounted to 10% of net fixed assets, interest expense was $30 million, the corporate tax rate was 25%, and Sunset pays out 40% of its net income as dividends. Sunset had 25 million shares outstanding in 2021, the 12/31/21 stock price was $80 per share, and its after-tax cost of capital was 15%. Based upon this information, answer the following questions. Sunset Industries December 31 Balance Sheets (in thousands of dollars) 2021 2020 Assets Cash and cash equivalents $55,908 $44,000 Excess cash $5,992 $6,793 Accounts receivable $112,044 $92,370 Inventories $176,251 $157,488 Total current assets $350,195 $300,651 Net fixed assets $408,000 $324,000 Total assets $758,195 $624,651 Liabilities and equity Accounts payable $42,018 $30,420 Accruals $24,187 $18,981 Notes payable $38,500 $40,000 Total current…General accounting
- Amazon.com, Inc. is preparing its financial statements for the fiscal year ending December 31, 2023. The company's preliminary income statement shows net sales of $514 billion, cost of sales of $320 billion, operating expenses of $160 billion, and other income of $2 billion. Amazon's effective tax rate for the year is 21%. The company had 10.2 billion weighted average shares outstanding during the year and 10.3 billion shares outstanding at year-end. Calculate Amazon's basic earnings per share (EPS) for the fiscal year 2023, and determine if it has improved from the previous year when the basic EPS was $1.25. The Walt Disney Company is evaluating its financial performance for the fiscal year ending September 30, 2023. The company reported total revenues of $82.7 billion, cost of revenues of $52.3 billion, and operating expenses of $21.5 billion. Disney's interest expense for the year was $1.2 billion, and its effective tax rate was 25%. The company had 1.83 billion weighted average…Pager Corporation began 2021 with retained earnings of $200 million. Revenues during the year were $530 million, and expenses totaled $320 million. Pager declared dividends of $60 million. What was the company's ending balance of retained earnings? To answer this question, prepare Pager's statement of retained earnings for the year ending 31Dec,2021 Prepare the statement of retained earnings.Kingbird Corporation has retained earnings of $710,000 at January 1, 2020. Net income during 2020 was $1,592,500, and cash dividends declared and paid during 2020 totaled $79,100. Prepare a retained earnings statement for the year ended December 31, 2020. (List items that increase retained earnings first.) KINGBIRD CORPORATIONRetained Earnings Statementchoose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020 select an opening name Cash DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $enter a dollar amount select between addition and deduction AddLess: select an item Cash DividendsExpensesNet…
- a. Sales for 2018 were $455,150,000, and EBITDA was 15% of sales. Furthermore, depreciationand amortization were 11% of net fixed assets, interest was $8,575,000, thecorporate tax rate was 40%, and Laiho pays 40% of its net income as dividends. Giventhis information, construct the firm’s 2018 income statement.b. Construct the statement of stockholders’ equity for the year ending December 31, 2018,and the 2018 statement of cash flows.c. Calculate 2017 and 2018 net operating working capital (NOWC) and 2018 free cashflow (FCF). Assume the firm has no excess cash.d. If Laiho increased its dividend payout ratio, what effect would this have on corporatetaxes paid? What effect would this have on taxes paid by the company’s shareholders?e. Assume that the firm’s after-tax cost of capital is 10.5%. What is the firm’s 2018 EVA?f. Assume that the firm’s stock price is $22 per share and that at year-end 2018 the firmhas 10 million shares outstanding. What is the firm’s MVA at year-end 2018?An analyst compiled the following information for U Inc. for the year ended December 31, 2021: . Net income was $1,960,000. Depreciation expense was $530,000. . Interest paid was $265,000. Income taxes paid were $132,500. . . . Common stock was sold for $226,000. Preferred stock (8% annual dividend) was sold at par value of $276,000. . Common stock dividends of $76,000 were paid. Preferred stock dividends of $22,080 were paid. Equipment with a book value of $126,000 was sold for $252,000. • . . Using the indirect method, what was U Inc.'s net cash flow from operating activities for the year ended December 31, 20213 Multiple ChoiceHow is this wrong?
- A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The firm paid $10,000 in dividends in 2019. The firm's net profit after taxes in 2019 was $110,000 -$100,000 $100,000 -$110,000In 2018, Jake's Jamming Music, Inc. announced an ROA of 8.46 percent, ROE of 13.50 percent, and profit margin of 8.5 percent. The firm had total assets of $8.5 million at year-end 2018. Calculate the 2018 value of net income available to common stockholders for Jake’s Jamming Music, Inc. (Enter your answer in dollars. Round your answer to the nearest whole dollar.) Calculate the 2018 value of common stockholders’ equity for Jake’s Jamming Music, Inc. (Enter your answer in dollars not in millions and round to the nearest whole dollar.)The year-end balance sheet of Brandex listed common stock and other paid capital at $2,400,000 and retained earnings at $4,700,00. The next year, retained earnings were listed at $5,000,000. The firms net income in 2019 was $1,030,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2019?
