Changes in the balance sheet account balances for the Bubble Bobble Co. during 2015 follow. Dividends declared during 2015 were $15,000 . Calculate the net income for the year assuming that no transactions other than the dividends affected retained earnings.
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- Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)Data pertaining to the current position of Lucroy Industries Inc. follow:Cash $ 800,000Marketable securities 550,000Accounts and notes receivable (net) 850,000Inventories 700,000Prepaid expenses 300,000Accounts payable 1,200,000Notes payable (short-term) 700,000Accrued expenses 100,000Instructions1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios in parts b through j to one decimal place.2. List the following captions on a sheet of paper:Transaction Working Capital Current Ratio Quick RatioCompute the working capital, the current ratio, and the quick ratio after each of the…
- Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)P5-13 Statement of Cash Flows The following are Mueller Company’s cash flow activities: a. Net income, $68,000b. Increase in accounts receivable, $4,400c. Receipt from sale of common stock, $12,300.d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000g. Bond discount amortization, $2,700 h. Receipt from sale of long-term invest-ments at cost, $10,600i. Payment for purchase of equipment, $8,000.j. Receipt from sale of preferred stock, $20,000k. Increase in income taxes payable, $3,500 l. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900n. Increase in inventories, $10,300 o. Beginning cash balance, $18,000 Required: Prepare Mueller Company’s statement of cash flows.
- 23. The following is an extract from the statement of financial position of Blown Co: $ 000 37,500 76,400 Inventory Trade receivables Trade payables Loan What is the net impact on cash generated from operations? $000 43,900 56,200 59,000 C A [ ] $0.7m increase B [ ] $14.9m decrease [ ] $25.5m decrease [ ] $41.1m increase D 72,100 20,000 30,000 pChasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyStatement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
- # 3 Category. Prior Year Current Year Accounts payable 3,136.00 5,904.00 Accounts receivable 6,838.00 9,068.00 Accruals 5,663.00 6,026.00 Additional paid in capital 20,182.00 13,570.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,844.00 18,591.00 Current portion long-term debt 500 500 Depreciation expense 955.00 1,036.00 Interest expense 1,275.00 1,169.00 Inventories 3,020.00 6,732.00 Long-term debt 16,947.00 22,144.00 Net fixed assets 75,056.00 74,173.00 Notes payable 4,022.00 6,569.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,957.00 34,753.00 Sales 46,360 45,431.00 Таxes 350 920 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.Blue Water Prime Fish Balance sheet: $ 41,200 $ 20,800 Cash Accounts receivable (net) Inventory Property & equipment (net) 39,000 31,600 98,eee 143,000 41,200 403,400 84, 200 $ 405,400 $ 98,eee 66,400 Other assets 307,000 $ 804,000 $ 52,000 60,400 Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained carnings 149,400 29, 200 62,400 $ 405,400 514,000 106, 200 71,400 $ 804,000 Total liabilities and stockholders' equity Income statement: Sales revenue (1/3 on credit) Cost of goods sold Оperating exхрenses Net income $ 444,eee (240,000) (161,400) $ 42,600 $ B00, 000 (400, 200) (311,200) $ 88,600 Other data: Per share stock price at end of current year Average income tax rate Dividends declered and paid in current year 22.2 17 30% $ 33,200 $ 149,000 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The…Increase / (Decrease) P500,000 (4,600,000) (460,000) 4,800,000 3,000,000 2,400,000 Cash Accounts receivable Allowance for bad debts Merchandise inventory Investment in associate Property, plant and equipment Accumulated depreciation Notes payable Bonds payable Discount on bonds payable Ordinary share capital Share premium Revaluation surplus Treasury shares 800.000 2,600,000 (2,800,000) (600,000) 3,900,000 200,000 2,600,000 320.000 Additional information: On December 31, 20x6, Noel Co. declared cash dividends amounting to P500,000 and share dividends amounting to P800,000. Also during the year, the company appropriated retained earnings for the retirement of bonds amounting to P100,000. During the year, Noel obtained a bank loan of P2,000,000 and paid off loan amortization of P1,600,000 and interest of P100,000. Interest of P180,000 is accrued on December 31, 20x6. There was no interest payable at the end of 20x5. In 20x6, Noel Company acquired treasury shares from its existing…