The most recent financial statements for Crosby, Incorporated, appear below. Sales for2022 are projected to grow by 20 percent. Interest expense will remain constant, the taxrate and the dividend payout rate also will remain constant. Costs, other expenses,current assets, fixed assets, and accounts payable increase spontaneously with sales.SalesCostsOther expensesEarnings before interest and taxesInterest expenseTaxable incomeTaxes (24%)CROSBY, INCORPORATED2021 Income StatementNet incomeDividendsAddition to retained earningsCurrent assetsCashAccounts receivableInventory$31,33569,745$ 20,64043,58091,960$747,000582,00018,000FA$147,00014,000$ 133,00031,920$ 101,080CROSBY, INCORPORATEDBalance Sheet as of December 31, 2021AssetsSevedLiabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableTotal$ 54,80014,000$ 68,800MA000 GIVA CummingaCurrent assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsEFN5r55CROSBY, INCORPORATEDBalance Sheet as of December 31, 2021Assets$ 20,64043.58091,960$156,180.$ 423,000579,180SavedLlabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableTotalLong-term debtOwners' equityCommon stock and paid-in surplusRetained earningsTotalTotal liabilities and owners' equityIf the firm is operating at full capacity and no new debt or equity is issued, what externalfinancing is needed to support the 20 percent growth rate in sales? (Do not roundintermediate calculations and round your answer to the nearest whole number, e.g...32.)$ 54,80014,000$68,800$130,000$ 114,500265,880$380,380$579,180

The EFN is used to measure the amount of money that a company requires to finance growth based on…

Answered: VII Cumminga Current assets Cash…

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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A comparative statement of financial position for Blue Spruce Industries Inc. follows: BLUE SPRUCE INDUSTRIES INC. Statement of Financial Position December 31, 2023 Assets Cash Accounts receivable Inventory. Land Equipment Accumulated depreciation-equipment Total Liabilities and Shareholders' Equity Accounts payable Bonds payable Common shares Retained earnings Total Additional information: 1 2. 3. vi December 31 2023 $22,800 122,000 234,000 77,000 269,000 (70,300) $654,500 $52,400 163,800 233,000 205,300 $654,500 No equipment was sold during the year. 2022 $35,800 55,600 191.000 Net income for the fiscal year ended December 31, 2023, was $130,000. Cash dividends of $48,300 were declared and paid. Dividends paid are treated as financing activities. Bonds payable amounting to $50,000 were retired through the issuance of common shares. 4. Land was sold at a gain of $4,000 125.000 216.000 (43,500) $579,900 $59,500 213,800 183,000 123.600 $579,900
The following data are taken from the records of Grouper Company. Cash Current assets other than cash Long-term debt investments Plant assets Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings Additional information: 1. 2. 3. 4. 5. December 31, December 31, 2025 2024 $15,100 84,300 10,000 334,300 $443,700 $20,100 39,900 74,800 255,400 53,500 $443,700 $8,000 60,600 52,500 214,900 $336,000 $40,400 21,800 -0- 255,400 18,400 $336,000 Held-to-maturity debt securities carried at a cost of $42,500 on December 31, 2024, were sold in 2025 for $34,300. The loss (not unusual) was incorrectly charged directly to Retained Earnings. Plant assets that cost $50,300 and were 80% depreciated were sold during 2025 for $8,000. The loss was incorrectly charged directly to Retained Earnings. Net income as reported on the income statement for the year was $57,100. Dividends paid amounted to $11,740. Depreciation charged for the year was $19,940.
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Financed by: Paid-up: Share Capital Retained Earnings Reserves Long Term Liabilities Current Other payables Trade creditors Liabilities Accrued expense Barakah Company Balance Sheet as at 31st December 2019 100,000 245,500 30,000 Additional Information: i) ii) 600,000 155,500 75,000 830,500 25,000 375,500 1,231,000 Fixed Assets (net after depreciation) $ Land & Buildings Equipment Vehicles Fixtures & Fittings Current Assets Inventory Accounts Receivable Prepayments Cash at Bank Cash in Hand Work-in-Progress is one-sixth of the total Inventory. Prepayments are related to the rental of buildings. Bad debt is 5% for the year. Non-Muslim ownership is at 20%. 350,500 200,500 150,000 50,000 751,000 Required: Determine the zakat base and due for the company using: (a) Net Current Assets method; and (b) Net Invested Fund Method. 125,000 215,000 10,000 110,000 20,000 1,231,000
STEEL INDUSTRIES Statement of Financial Position December 31, 2020 Assets Current assets: Cash Marketable equity securities Accounts receivable, net 50,000 19,000 60,000 Inventory Treasury stock Total current assets 30,000 20,000 * 179,000 Required: Indicate your criticisms of the balance sheet and briefly explain the proper treatment of any item criticized. Plant assets: Land and buildings, net 160,000 Investments: Short-term investments 20,000 Other assets: Supplies Total assets 4,000 363,000 Liabilities and Shareholders' Equity Liabilities: P 123,000 Bonds payable P Accounts payable Wages payable Total liabilities 40,000 10,000 173,000 Shareholders' equity: Ordinary shares (P20 par, 20,000 shares authorized, 6,000 shares outstanding) Retained earnings 120,000 50,000 Redeemable preference shares Total Shareholders' Equity Total Liabilities and Shareholders' Equity 20,000 190,000 363,000
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Credits Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals $ Debits 44,000 94,000 119,000 82,000 158,000 395,000 113,000 31,000 51,000 $ 29,000 119,000 44,000 84,000 39,000 345,000 6,000 390,000 31,000 $1,087,000 $1,087,000 Additional Information: 1. The $158,000 balance in the land account consists of $119,000 for the cost of land where the plant and office buildings are located. The remaining $39,000 represents the cost of land being held for speculation. 2. The $82,000 balance in the investment in equity securities account represents an investment in the…
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Title INGRAM INDUSTRIES Balance Sheet June 30, 2008 Assets Current assets: Cash (including $13,000 in... Description INGRAM INDUSTRIES Balance Sheet June 30, 2008 Assets Current assets: Cash (including $13,000 in sinking fund for bonds payable) $ 70,000 Marketable securities 23,400 Investment in subsidiary company 23,000 Accounts receivable 21,000 Inventories (lower-of-cost-or-market) 117,00 $254,400 Plant assets: Land and buildings $160,000 Less: Accumulated depreciation 100,000 60,000 Investments: Treasury stock 4,000 Deferred charges: Discount on bonds payable $ 6,000 Prepaid expenses 2,000 8,000 Total Assets $326,400 Liabilities and Stockholders’ Equity Liabilities: Notes payable to bank $ 60,000 Accounts payable 18,000 Bonds payable 61,000 Total liabilities $139,000 Stockholders’ equity: Preferred and common (each $10 par, 5,000 shares preferred and 6,000 shares common) $110,000 Capital in excess of par 61,000 Retained earnings 16,400 187,400 Total liabilities and…
Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: $104,000 0 34,500 490,000 Notes payable Stockholders' equity: Common stock 590,000 590,000 Retained earnings 1,815,500 1,754,200 Total liabilities and stockholders' equity $3,034,000 $2,948,000 Earnings per share for the year ended December 31, 2024, are $1.25. The closing stock price on December 31, 2 Required: Calculate the following profitability ratios for 2024. (Use 365 days a year. Round your final answers to 1 decima Profitability Ratios 1. Gross profit ratio 2. Return on assets 3. Profit margin 4. Asset turnover 5. Return on equity 6. Price-earnings ratio 38.6% 42.3 % 14.4 % 2.9 times 53.2 % 17.1 1,095,000 (398,000) $3,034,000 1,095,000 (199,000) $2,948,000 $80,000 3,900 29,900 490,000
Vaughn Manufacturing Balance Sheet December 31, 2021 Assets Equities Cash $ 302000 Accounts payable $ 640000 Accounts receivable (net) 1942000 Income taxes payable 185000 Inventories 2451000 Miscellaneous accrued payables 230000 Plant and equipment, Bonds payable (8%, due 2023) 1850000 net of depreciation 1984000 Preferred stock ($100 par, 6% Patents 262000 cumulative nonparticipating) 752000 Other intangible assets 75200 Common stock (no par, 60,000 Total Assets $7016200 shares authorized, issued and outstanding) 1122000 Retained earnings 2466200 Treasury stock-1500 shares of preferred (229000) Total Equities $7016200 Vaughn Manufacturing Income Statement Year Ended December 31, 2021 Net…
Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses (including interest on bonds) Pretax income Income tax Net income Balance Sheet Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Property and equipment (net) Total assets Accounts payable Income taxes payable Bonds payable (interest rate: 10%) Common stock ($10 par value, 10,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 $453,000 250,000 203,000 167,000 36,000 10,800 $ 25,200 $ 6,800 42,000 25,000 200 130,000 $204,000 $ 17,000 1,000 70,000 100,000 16,000 $204,000 Year 1 $447,000 241,000 206,000 168,000 38,000 11,400 $ 26,600 $ 3,900 29,000 18,000 100 120,000 $171,000 $ 18,000 1,000 50,000 100,000 2,000 $171,000 Required: Interpret each element of the ratio analysis separately. Ensure accuracy by analyzing each ratio individually!
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