Willson Company had a net income of $620,000, cash flow from financing activities of $85,000, depreciation expenses of $75,000, and cash flow from operating activities of $540,000. Cash flow from operations: 2020: $385,000 2021: $410,000 2022: $540,000 Capital Expenditures (CAPEX): 2020: $325,000 2021: $360,000 2022: $390,000 What is Willson's quality of earnings ratio?
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- At December 31, 2022, Blue Corporation reported the following plant assets. Land $ 5,853,000 Buildings $26,740,000 Less: Accumulated depreciation—buildings 23,265,675 3,474,325 Equipment 78,040,000 Less: Accumulated depreciation—equipment 9,755,000 68,285,000 Total plant assets $77,612,325 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $4,292,200. May 1 Sold equipment that cost $1,170,600 when purchased on January 1, 2016. The equipment was sold for $331,670. June 1 Sold land for $3,121,600. The land cost $1,951,000. July 1 Purchased equipment for $2,146,100. Dec. 31 Retired equipment that cost $1,365,700 when purchased on December 31, 2013. No salvage value was received. (a) Journalize the transactions. Blue uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year…The net income for 2020 for Won Hae Na Corp. was P3,520,000. Additional data are as follows: www purchases of plant assets- P2,800,000; Depreciation expense- P1,480,000; Dividends declared- P970,000; Net decrease in non-cash current assets- P290,000 and loss on sale of equipment- P130,000. How much is the net cash inflow from operating activities on December 31, 2020? A. P7,250,000 В. Р5,420,000 С. Р5,290,000 D. P5,130,000At December 31, 2022, Concord Corporation reported the following plant assets. Land $ 3,640,000 Buildings $28,180,000 Less: Accumulated depreciation-buildings 12,681,000 15,499,000 Equipment 48,740,000 Less: Accumulated depreciation-equipment 6,092,500 42,647,500 Total plant assets $61,786,500 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,170,000O. May 1 Sold equipment that cost $750,000 when purchased on January 1, 2016. The equipment was sold for $225,000. June 1 Sold land for $1,510,000. The land cost $993,000. July 1 Purchased equipment for $1,093,000. Dec. 31 Retired equipment that cost $698,000 when purchased on December 31, 2013. No salvage value was received.
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- Wallace Driving School's 2020 balance sheet showed net fixed assets of $5.4 million, and the 2021 balance sheet showed net fixed assets of $6 million. The company's 2021 income statement showed a depreciation expense of $425,000. What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spending 20 000 000Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) 2021 2020 Sales $ 2,500.0 $ 2,000.0 Operating costs excluding depreciation and amortization 1,938.0 1,700.0 EBITDA $ 562.0 $ 300.0 Depreciation and amortization 62.0 54.0 Earnings before interest and taxes (EBIT) $ 500.0 $ 246.0 Interest 55.0 44.0 Earnings before taxes (EBT) $ 445.0 $ 202.0 Taxes (25%) 178.0 80.8 Net income $ 267.0 $ 121.2 Common dividends $ 240.3 $ 97.0 Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars) 2021 2020 Assets Cash and equivalents $ 36.0 $ 30.0 Accounts receivable 375.0 300.0 Inventories 468.0 360.0 Total current assets $ 879.0 $ 690.0 Net plant and equipment 621.0 540.0 Total assets $ 1,500.0 $ 1,230.0 Liabilities and Equity Accounts payable $ 250.0 $ 200.0 Accruals 75.0…The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 138,880 $ 118,000 Accounts receivable 74,000 90,000 Inventory 93,000 78,000 Investments 3,800 1,800 Long-term assets: Land 460,000 460,000 Equipment 770,000 650,000 Less: Accumulated depreciation (408,000 ) (248,000 ) Total assets $ 1,131,680 $ 1,149,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 97,600 $ 83,000 Interest payable 5,500 11,800 Income tax payable 7,500 4,800 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock…
- Lindsay Corporation had net income for 2021 of $3,000,000. Additional information is as follows: Depreciation of plant assets Amortization of intangibles Increase in accounts receivable Increase in accounts payable $1,200,000 240,000 420,000 540,000 Lindsay's net cash provided by operating activities for 2021 was $2,680,000. $4,440,000. $4,320,000. $4,560,000.The Cash Flow from Operating Activities on Moore’s statement of cash flows for 2018 was $8,000,000. For 2018, depreciation on fixed assets was $3,800,000, amortization of intangibles was $100,000 and gains on the sale of fixed assets were $22,000. Based on the preceding information, Moore’s net income for 2018 was:Wallace Driving School’s 2020 balance sheet showed net fixed assets of $4.7 million, and the 2021 balance sheet showed net fixed assets of $5.3 million. The company’s 2021 income statement showed a depreciation expense of $405,000. What was net capital spending for 2021?
