A1 Orlando Medical Corporation Consolidated Statements of Financial Position 1 December 31, 3 (In Millions) 2018 2017 Assets: Current Assets Cash and cash equivalents Short-term investments Accounts and notes receivable Inventories, at cost Prepaid expense and other current assets Total current assets $ 4,226 $ 4,333 845 6. 520 8. 3,400 433 2,403 411 1,226 10 1,638 10,649 1,555 6,804 303 $ 19,311 11 8,786 907 5,199 155 $ 15,047 12 Property and equipment, net 14 Other non-current assets 15 Total assets 16 Liabilities and stockholders' equity: Current liabilities Accounts payable Accrued and other liabilities 17 18 19 $ 7,708 3,676 11,384 304 1.701 13,389 $ 6,009 3,033 9,042 305 1.179 10,526 Total current liabilities 20 21 Long-term debt Other non-current liabilities 23 Total liabilities 24 Stockholders' equity 22 Preferred stock and capital in excess of $0.02 par value; 25 shares issued and outstanding: none Common stock and capital in excess of S0.05 par value; 28 26 27 shares authorized: 6,000; shares issued: 2,163 and 1,903, respectively Treasury stock, at cost: 183 and 123 shares, respectively 29 7,803 (6,444) 4,676 (79) (34) 5,922 $ 19,311 7,001 (4,401) 1,990 (25) (44) 4,521 $ 15,047 30 31 Retained earnings 32 Other comprehensive loss 33 Other 34 Total stockholders' equity 35 Total liabilities and stockholders' equity 36 A1 Orlando Medical Corporation Consolidated Statements of Income 2 Year ended December 31, 3 (In Millions, Except per Share Amounts) 4 Net Revenue 5 Cost of goods sold 2018 $ 42,666 35,147 7,519 2016 $ 31,111 25,492 5,619 2017 $ 35,220 29,255 5,965 Gross profit 7 Operating expenses: 8. 6. Selling, general, and administrative Research, development, and engineering 10 3,341 544 3,250 553 2,985 536 512 4,033 1,586 (30) 1,556 472 $ 1.084 Special charges Total operating expenses. Operating income 11 12 13 Investment and other income (loss), net 14 3,885 3,634 153 3,787 1.136 $ 2,651 3,803 2,162 196 2,358 940 $ 1.418 Income before income taxes 15 Income tax expense 16 Net income 17 Earnings per common share: Basic 19 1.41 0.95 $ 0.37
Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.
Book value per share1
of Orlando Medical’s common stock outstanding at December 31,
2018, was
a. 137.9.
b. $35,147.
c. $2.99.
d. 20.1.
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