Use the following information for the year ended December 31, 2022. Supplies $ 1,800 Service revenue $19,500 Operating expenses 11,000 Cash 14,100 Accounts payable 11,600 Dividends 5,200 Accounts receivable 4,400 Notes payable 1,000 Common stock 9,000 Equipment 9,700 Retained earnings (beginning) 5,100 Calculate the following: (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net income / (net loss) 8,500 Ending retained earnings 2$ 8,400 Total assets 2$
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- view Policies Current Attempt in Progress Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 467,400 $ 410,000 Inventory $ 785,400 % $ 660,000 % Total assets $3,197,900 % $2,830,000 % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerRatio Analysis Consider the following information taken from GER's financial statements: September 30(in thousands) 2020 2019 Current assets: Cash and cash equivalents $1,274 $6,450 Receivables 30,071 16,548 Inventories 31,796 14,072 Other current assets 4,818 2,620 Total current assets $67,959 $39,690 Current liabilities: Current portion of long-term debt $97 $3,530 Accounts payable 23,124 11,228 Accrued compensation costs 5,606 1,929 Accrued expenses 9,108 5,054 Other current liabilities 874 777 Total current liabilities $38,809 $22,518 Also, GER's operating cash flows were $11,255 and $13,736 in 2020 and 2019, respectively. 4. Calculate the operating cash flow ratios for 2020 and 2019. Operating Cash Flow Ratio 2020 fill in the blank 7 2019 fill in the blank 8K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
- Suppose McDonald's 2022 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities (a1) a. b. Compute the following values. C. $3,416.0 Interest expense 30,224.0 d. 2,988.0 16,191.0 Income taxes Net income $473.0 1,936.0 4,551.0 Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) Working capital. (Round to 1 decimal place, e.g. 5,275.5) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) millions :1 % timesistructions alance sheet for Sandpiper Corporation as of December 31, 2020 using column 2 3 for nets, sub-totals, & totals on the 4-column accounting paper provided online. e the units, tens, hundreds, thousands, etc. in the proper mini column, and leave o commas are necessary when you use the accounting paper properly. Dollar signs f the column and after a total line. o present the following ratios to the nearest tenth: ratio, Debt to assets ratio, Ratio of fixed assets to long-term liabilities, Ratio of total ders' equityFINANCIAL 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
- FINANCIAL RATIO: Requirement: Compute for the following financial ratios for the year 2021 (round-off answers to two decimal places) a. Current ratio b. Quick (Acid-test) ratio c. Working capital d. Inventory turnover e. Days of inventory (use 365 days) 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 equityCategory Prior Year Current Year Accounts payable 3,159.00 5,955.00 Accounts receivable 6,974.00 8,952.00 Accruals 5,771.00 6,100.00 Additional paid in capital 19,965.00 13,214.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,509.00 18,563.00 Current portion long-term debt 500 500 Depreciation expense 1,044.00 984.00 Interest expense 1,285.00 1,168.00 Inventories 3,015.00 6,719.00 Long-term debt 16,894.00 22,766.00 Net fixed assets 75,882.00 73,989.00 Notes payable 4,022.00 6,500.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,811.00 34,391.00 Sales 46,360 45,993.00 Taxes 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: InfinityThe following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.
- Using these data from the comparative balance sheets of Blossom Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable (net) $424,551 enter Accounts receivable in percentages on Dec. 31, 2022 % $ 333,450 enter Accounts receivable in percentages on Dec. 31, 2022 % Inventory 707,585 enter Inventory in percentages on Dec. 31, 2022 % 589,950 enter Inventory in percentages on Dec. 31, 2022 % Total assets 3,011,000 enter Total assets in percentages on Dec. 31, 2022 % 2,565,000 enter Total assets in percentages on Dec. 31, 2022 %Prince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000Changes in Various Ratios Presented below is selected information for Turner Company: Sales revenue Cost of goods sold Interest expense Income tax expense Net income Cash flow from operating activities Capital expenditures Accounts receivable (net), December 31 Inventory, December 31 Stockholders' equity, December 31 Total assets, December 31 2019 2018 $950,000 $850,000 575,000 545,000 20,000 20,000 27,000 30,000 65,000 55,000 70,000 60,000 45,000 45,000 126,000 120,000 196,000 160,000 450,000 400,000 750,000 675,000 Required Calculate the following ratios for 2019. The 2018 results are given for comparative purposes. Round answers to one decimal place. Use 365 days in a year. 2018 35.9% 8.3% 6.5% 1. Gross profit percentage 2. Return on assets 3. Return on sales 4. Return on common stockholders' equity (no preferred stock was outstanding) 5. Accounts receivable turnover 6. Average collection period 13.9% 8.0 45.6 days 2019 0 % 0 % 0 % 0 % 0 0 days