Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 $140 2022 $ 120 800 1,510 720 1,535 $ 2,450 $ 2,375 3,200 3,640 $ 5,650 $ 6,015 What is the equity multiplier for 2022? $8,700 7,250 350 $ 1,100 83 $ 1,017 356 $ 661 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,070 980 3,150 450 $ 5,650 2022 $1,212 1,213 2,890 700 $ 6,015

Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 $140 2022 $ 120 800 1,510 720 1,535 $ 2,450 $ 2,375 3,200 3,640 $ 5,650 $ 6,015 What is the equity multiplier for 2022? $8,700 7,250 350 $ 1,100 83 $ 1,017 356 $ 661 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,070 980 3,150 450 $ 5,650 2022 $1,212 1,213 2,890 700 $ 6,015

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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Share your internal control example. What is an internal control you have witnessed? Maybe at work, as a customer, etc.
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I need help with the remaining questions. This only answers the already answered ones.
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After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. No. Account Title Debit Credit 101 Cash $ 38,364 106 Accounts receivable 12,818 126 Computer supplies 2,545 128 Prepaid insurance 1,920 131 Prepaid rent 2,960 163 Office equipment 8,000 164 Accumulated depreciation—Office equipment $ 0 167 Computer equipment 23,200 168 Accumulated depreciation—Computer equipment 0 201 Accounts payable 0 210 Wages payable 0 236 Unearned computer services revenue 0 307 Common stock 68,000 318 Retained earnings 0 319 Dividends 5,700 403 Computer services revenue 33,069 612 Depreciation expense—Office equipment 0 613 Depreciation…
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