1-9 (3) Calculate the missing information Revenues for 2028 $46,000 Dividends declared for 2028 unknown Expenses for 2028 $30,000 Jan 1 retained earnings balance $13,000 Dec 31 retained earnings balance $22,000

1-9 (3) Calculate the missing information Revenues for 2028 $46,000 Dividends declared for 2028 unknown Expenses for 2028 $30,000 Jan 1 retained earnings balance $13,000 Dec 31 retained earnings balance $22,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Year ended December 31, 2023 2022 2021 Revenues $4,578,041 $3,864,324 $3,003,610 Costs and expenses: Cost of goods sold $2,227,189 $2,089,089 $2,005,691 Selling and administrative 922,261 836,212 664,061 Interest 29,744 32,966 30,472 Other expenses (income) 1,475 2,141 (43) Total costs and expenses $3,180,669 $2,960,408 $2,700,181 Income before income taxes $1,397,372 $903,916 $303,429 Income taxes 229,500 192,600 174,700 Net income $1,167,872 $711,316 $128,729 Venus IndustriesConsolidated Balance Sheets (in thousands) December 31, ASSETS 2023 2022 Current assets: Cash and equivalents $291,284 $260,050 Accounts receivable, less allowance for doubtful accounts of $19,447 and $20,046 826,977 616,064 Inventories 592,986 512,917 Deferred income taxes 26,378 28,355 Prepaid expenses 40,663 32,977 Total current assets $1,778,288 $1,450,363 Property, plant, and equipment $571,032 $497,795 Less accumulated depreciation (193,037)…
What amount should be reported as income from discontinued operationsfor 2020? A. 5,000,000B. 4,200,000C. 3,500,000D. 5,600,000
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6. Selected financial information for Masks-R-Us Ltd.'s for the last 2 years is available: 2020 2019 S 30,000 S 70,000 S 200,000 $ 500,000 S 120,000 S 280,000 S 385,000 $ 180,000 $ 65,000 S 220,000 S 15,000 S 14,750 Accounts receivable Inventory Total current assets $ 50,000 $ 60,000 S 160,250 $ 420,250 S 60,000 S 140,000 $ 400,000 $ 190,000 S 80,250 S 280,250 S 15,000 $ 23,000 Total assets Total curent liabilities Total liabilities Sales revenue (all credit sales) Cost of goods sold Net Income Common Shareholders' Equity Preferred share dividends declared and paid Common share dividends declared and paid Average number of common shares 60,000 60,000 Part 1) Using the financial information provided above, calculate the following ratios for 2020 only. (a) Current Ratio (b) Average Collection Period (c) Debt to Total Assets
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Global Corp. initially projected the 2019 income statement shown in the table E. Suppose that in 2019, Global launched an aggressive marketing campaign that boosted 2019 sales further by 14.1%. However, their operating margin fell from 5.56% to 4.49% Suppose that they had no other income, interest expenses were unchanged, and taxes were the same percentage of pretax income (26%) as in 2018. a. What was Global's EBIT in 2019? b. What was Global's income in 2019? c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? a. What was Global's EBIT in 2019? Global's EBIT was $ million. (Round to two decimal places.) b. What was Global's income in 2019? Net income was $ million. (Round to two decimal places.) c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? Global's share price in 2019 was $. (Round to the nearest cent.)
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