The Barney Corporation started July with assets of $170,000 and liabilities of $90,000. During the month of July, stockholders' equity increased by $24,000 and liabilities decreased by $10,000. What is the amount of total assets at the end of July? $124,000 $160,000 $136,000 $156,000 $184,000
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- James Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the EPS for the year for James (rounded to the nearest dollar)?Ariel Corporation reports the following year-end balance sheet data. The company's working capital equals: Cash Accounts receivable $ Current 54,000 liabilities Long-term liabilities Inventory 74,000 Common stock 114,000 Retained earnings Total assets Equipment 159,000 $218,000 $197,000 $356,000 $108,000 $89,000 69,000 $ 89,000 $ 356,000 and equity 49,000 104,000 Total liabilities $ 356,000Baker Company reported total assets at December 31 totaling $56,600. The following selected amounts were taken from Baker Company’s financial statements for its year ending December 31: Retained earnings $33,600 Sales $70,000 Accounts receivable 3,500 Common stock 15,000 Notes payable 8,000 Net income 17,500 How much is the company’s total shareholders’ equity at December 31? Group of answer choices $38,000 $48,600 $10,000 $55,500
- Selected financial data from the June 30 year-end statements of Safford Company are given below: Total assets $5,300,000 Long-term debt (9% interest rate) $ 730, 000 Total stockholders' equity $ 2,500,000 Interest paid on long-term debt $ 65,700 Net income $ 400,000 Total assets at the beginning of the year were $5, 100,000; total stockholders' equity was $2,300,000. The company's tax rate is 40%. Required: 1. Compute the return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 2. Compute the return on equity. (Round your percentage answer to 1 decimal place (i. e., 0.1234 should be entered as 12.3).) 3. Is financial leverage positive or negative?Bottling's December 31st balance sheet is given below: Cash 10 Accounts payable $ 15Accounts receivable 25 Notes payable 20 Inventory 40 Accrued wages and taxes 15 Net fixed assets 75 Long-term debt 30 Common equity 70 Total liabilities Total assets $150 and equity $150 Sales during the past year were $100, and they are expected to rise by 50 percent to $150 during next year. Also, during last year fixed assets were being utilized to only 85 percent of capacity (excess capacity). Assume that profit margin will remain constant at 5 percent and that the company will continue to pay out 60 percent of its earnings as dividends. To the nearest whole dollar, what amount of nonspontaneous, additional funds will be…Bill Inc.'s last year financial statements are shown below: Bill Inc. Balance Sheet as of December 31 Cash $ 90,000 Accounts payable $ 180,000 Receivables 180,000 Notes payable 78,000 Inventory 360,000 Accruals 90,000 Total current assets $630,000 Total current liabilities $ 348,000 Common stock 900,000 Net fixed assets 720,000 Retained earnings 102,000 Total assets $1,350,000 Total liabilities and equity $1,350,000 Bill Inc. Income Statement for December 31 Sales $1,800,000 Operating costs 1,639,860 EBIT $ 160,140 Interest 10,140 EBT $ 150,000 Taxes (40%) 60,000 Net income $90,000 Dividends (60%) $ 54,000 Addition to retained earnings $ 36,000 Suppose that next year's sales will increase by 20 percent over last year's sales. Construct the pro forma financial statements using the percent of sales method. Assume the firm…
- What is the working capital requirement of a company with the following average figures over a year? Inventory $3750 Recievables $1500 Cash and bank balances $500 Payables $1800The balance sheets of HR, Inc. reports total stockholders' equity of $500,000 and $650,000 at the beginning and end of the year, respectively. The return on equity for the year is 20%. What is HR's net income for the year? Select one: a. $2,875,000 b. $250,000 c. $130,000 d. $115,000 e. $100,000The Hudson River Line Company has a balance sheet as of the end of the year as follows: Cash $ 5,000 Accounts Payable $ 15,000 Accounts Receivable 20,000 Notes Payable 10,000 Inventories 40,000 Total Current Liab. 25,000 Total Current Assets $ 65,000 Long-term Debt 30,000 Fixed Assets, net 50,000 Stockholder’s Equity 60,000 Total Assets $115,000 Total Liabilities & Equity $115,000 Last year, the firm had sales of $148,750. This year the company expects sales to increase 25%, to generate earnings after tax of $16,000, and to pay a dividend of $5,000. Hudson operated its fixed assets at 85% capacity last year. What additional financing will be needed to support the sales increase?
- Noric Cruises Inc. began the month of October with the following balances: Common Stock, $160,000; Additional Paid-In Capital, $3,250,000; and Retained Earnings, $12,500,000. During June, Noric issued for cash 30,000 shares of common stock (with a stated value of $1) at $17 per share. Noric reported the following results for the month ended October 31: Net income $2,200,000 Cash dividends declared 455,000 Prepare a statement of stockholders’ equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,225,000; and Retained Earnings, $12,400,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $16 per share. Noric reported the following results for the month ended October 31: Net income $2,350,000 Cash dividends declared 475,000 Prepare a statement of stockholders' equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Additional Paid-In Common Retained Capital Stock Earnings Total $1 $Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $77.278 million Total Common Stock of $3.810 million Cash of $6.030 million Retained Earnings of $28.058 million. What were the Digby Corporation's total assets?