Refer to the data below. Retained earnings, December 31, 2020 $ 416,840 Net decrease in total assets during 2020 63,580 Net increase in accounts receivable in 2020 14,620 Dividends declared and paid in 2020 57,120 Proceeds from issuance of bonds during 2020 150,280 Net loss for the year ended December 31, 2020 39,100 Required:From the above data, calculate the Retained Earnings balance as of December 31, 2019:

Refer to the data below. Retained earnings, December 31, 2020 $ 416,840 Net decrease in total assets during 2020 63,580 Net increase in accounts receivable in 2020 14,620 Dividends declared and paid in 2020 57,120 Proceeds from issuance of bonds during 2020 150,280 Net loss for the year ended December 31, 2020 39,100 Required:From the above data, calculate the Retained Earnings balance as of December 31, 2019:

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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FINANCIAL RATIO: Requirement: Compute for the following financial ratios for the year 2021 (round-off answers to two decimal places) f. Accounts receivable turnover (assume all sales are on credit) g. Days of receivable (use 365 days) h. Debt ratio i. Equity ratio j. Debt-to-equity ratio k. Gross profit ratio 1. Net profit ratio m. Return on assets n. Return on equity
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Calculate the following ratios based on the upcoming data based on the 2021 year-end. 13.1 Current Ratio 13.2 Quick Ratio 13.3 Debt to Equity 13.4 Working Capital 13.5 Earnings per share 13.6 Accounts Receivable turnover 13.7 Inventory Turnover 13.8 Average Collection Period 13.9 Average Sale Period 13.10 Return on Common Shareholders’ Equity 2021 2020 Current Assets Cash 10,000 6,500 Accounts Receivable 5,000 7,000 Inventory 15,000 10,000 Prepaids 2,000 3,500 Marketable Securities 23,000 20,000 Total Current Assets…
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Retained earnings, December 31, 2020	$	416,840
Net decrease in total assets during 2020		63,580
Net increase in accounts receivable in 2020		14,620
Dividends declared and paid in 2020		57,120
Proceeds from issuance of bonds during 2020		150,280
Net loss for the year ended December 31, 2020		39,100