The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022,while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are inthousands of dollars.RevenueCost of goods soldDepreciationInventoriesAdministrative expensesInterest expenseFederal and state taxesAccounts payableAccounts receivable2021$ 4.5001,900600290540130420280440Price5,3001.800856440850per share2022$ 4.6002,000620350590Net fixed assetsLong-tern debtNotes payableDividends paidCash and marketable securities*Taxes are paid in their entirety in the year that the tax obligation is incurred.1304403205106. 190*Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.Suppose that the market value (in thousands of dollars) of Fincorp's fixed assets in 2022 is $6,500 and that the value of its long-termdebt is only $1,930. In addition, the consensus among investors is that Fincorp's past investments in developing the skills of itsemployees are worth $2.700. This investment, of course, does not show up on the balance sheet. What will be the price per share ofFincorp stock? (Assume 562,000 shares of stock outstanding.)Note: Round your answer to 2 decimal places.2,130660440500

Name: The table below contains data on Fincorp Incorporated. The balance sh
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Description: The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022,while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All valu

Price per share is required to be calculated in order to identify the price of each share in the…

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The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars.

The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars.

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

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14E: Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In...

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Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In conjunction with this statement, it plans to disclose the interest and income taxes it paid during 2019. The following information is available from its 2019 income statement and beginning and ending balance sheet: Required: 1. Compute the amounts of interest paid and income taxes paid by Staggs for 2019. 2. Next Level Under IFRS, how would interest paid and income taxes paid be reported?
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable. Net fixed assets* Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,100 1,700 470 270 520 240 340 320 350 4,800 2,400 687 380 760 Net working capital 2022 $ 4,200 1,800 490 335 570 240 360 355 395 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. 5,540 2,860 540 380 480 What was the change in net working capital during the year? Note: Enter your answer in thousands of dollars. by
Mirabel Corporation's financial statements for 2020 follow: Sales...... Cost of goods sold. Gross profit.... Operating expenses. Income before taxes. Income taxes.. Net income.. MIRABELCORPORATION Statement of Income For the Year Ended July 31, 2020 Cash. Receivables. Inventory...... MIRABEL CORPORATION Statement of Financial Position July 31, 2020 Property, plant and equipment (net). Total assets. Current liabilities. Non-current liabilities. Common shares. Retained earnings.. Total liabilities and shareholders' equity. Calculate the current ratio (use up to two decimal places) $1,575,000 (976,500) 598,500 (236,250) 362,250 (144,900) $217,350 49,000 143,900 167,800 682,800 $1,043,500 $ 131,000 450,000 250,000 212,500 $1,043,500
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities Fincorp Inc. Income Statement Reinvested earnings 2018 $4,000 1,600 $ 500 300 500 150 400 300 400 5,000 2,000 1,000 410 800 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct an income statement for Fincorp for 2018 and 2019. (Enter your answers in thousands of dollars.) 2018 2019 $4,100 1,700 0 520 350 550 150 420 350 450 5,800 2,400…
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. * Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,000 1,900 440 290 400 110 350 330 380 5,500 2,900 821 440 850 Price 2022 $ 4,100 2,000 460 340 450 110 370 405 440 Taxes are paid in their entirety in the year that the tax obligation is incurred. per share 6,340 3,330 520 440 460 t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that the market value (in thousands of dollars) of Fincorp's fixed assets in 2022 is $6,570 and that the value of its…
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You have been provided with Leonard Corporation's partial Statement of Financial Position and the Statement of Comprehensive Income for the year ended December 31, 2021. Leonard Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 Accounts receivable -net Prepaid expenses Inventory Property, Plant & Equipment Accumulated Depreciation Accounts payable Income taxes payable Deferred revenue 2021 Sales....... Cost of goods sold.. Gross Margin. Selling, general and admin Depreciation expense $440,000 482,000 45,000 31,000 825,000 810,000 2,475,000 2,105,000 2020 (866,000) (823,000) 184,000 197,000 38,000 35,000 47,000 42,000 Leonard Corporation Statement of Comprehensive Income For the Year Ended December 31, 2021 Interest expense..... Gain on sale of PPE Net income before taxes Income Tax Expense Net income and comprehensive income... $3,560,000 1,950,000 1,610,000 (595,000) (320,000) (115,300) 55,400 635,100 95,300 .$539,800 Additional information:…
Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
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The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assetst Long-term debt Net working capital 2021 $ 4,200 1,800 decreased 490 350 580 240 340 310 430 6,000 1,900 990 400 880 2022 $ 4,300 1,900 Notes payable Dividends paid Cash and marketable securities * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by 510 380 630 240 360 345 460 6,740 2,340 510 400 330
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