CENGAGENOW FOR CORP. FINC
14th Edition
ISBN: 9781305878907
Author: WARREN
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 1.21EX
Financial information related to Ebony Interiors for February and March 2018 is as follows:
February 28, 2018 | March 31, 2018 | |
Cash | 320,000 | 380,000 |
Accounts receivable | 800,000 | 960,000 |
Supplies | 30,000 | 35,000 |
Accounts payable | 310,000 | 400,000 |
Common stock | 200,000 | 200,000 |
Retained earnings | ? | ? |
- A. Prepare balance sheets for Ebony Interiors as of February 28 and March 31, 2018.
- B. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month.
- C. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $50,000 were paid during the month.
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The 2021 income statement of Adrian Express reports sales of $22,110,000, cost of goods sold of $12,950,000, and net income of
$2,260,000. Balance sheet information is provided in the following table.
Assets
Current assets:
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Accounts receivable
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Current liabilities
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ADRIAN EXPRESS
Balance Sheets
December 31, 2021 and 2020
Profit margin
Asset turnover
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Profitability Ratios
Industry averages for the following profitability ratios are as follows:
Gross profit ratio
Mes
%
$
45%
25%
15%
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35%
2021
2020
980,000
1,950,000
2,490,000
5,180,000 4,480,000
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$8,640,000
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1,310,000
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Required:
1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
$ 2,228,000 $1,928,000…
Hello! look at the attached images and answee the following points:
(a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above.
Return on year-end capital employed
Net asset turnover
Gross profit margin
Net profit margin
Current ratio
Closing inventory holding period
Trade receivables’ collection period viii. Trade payables’ payment period
Dividend yield
Dividend cover
(b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020.
(c) Explain the uses and the general limitations of ratio analysis.
Thank you a lot!
Help me please
Chapter 1 Solutions
CENGAGENOW FOR CORP. FINC
Ch. 1 - Name some users of accounting information.Ch. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Josh Reilly is the owner of Dispatch Delivery...Ch. 1 - 5. On July 12, Reliable Repair Service extended an...Ch. 1 - Prob. 6DQCh. 1 - Describe the difference between an account...Ch. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - The financial statements are interrelated. (A)...
Ch. 1 - Cost principle On June 25, Ritts Roofing extended...Ch. 1 - Prob. 1.2BECh. 1 - Transactions Interstate Delivery Service is owned...Ch. 1 - Income statement The revenues and expenses of...Ch. 1 - Prob. 1.5BECh. 1 - Balance sheet Using the following data for...Ch. 1 - Statement of cash flows A summary of cash flows...Ch. 1 - Prob. 1.1EXCh. 1 - Prob. 1.2EXCh. 1 - Prob. 1.3EXCh. 1 - Prob. 1.4EXCh. 1 - Accounting equation The total assets and total...Ch. 1 - Accounting equation Determine the missing amount...Ch. 1 - Prob. 1.7EXCh. 1 - Asset, liability, and stockholders equity items...Ch. 1 - Effect of transactions on accounting equation What...Ch. 1 - Effect of transactions on accounting equation A. A...Ch. 1 - Prob. 1.11EXCh. 1 - Transactions The following selected transactions...Ch. 1 - Nature of transactions Teri West operates her own...Ch. 1 - Net income and dividends The income statement for...Ch. 1 - Net income and stockholders equity for four...Ch. 1 - Balance sheet items From the following list of...Ch. 1 - Income statement items From the following list of...Ch. 1 - Prob. 1.18EXCh. 1 - Prob. 1.19EXCh. 1 - Prob. 1.20EXCh. 1 - Balance sheets, net income Financial information...Ch. 1 - Financial statements Each of the following items...Ch. 1 - Prob. 1.23EXCh. 1 - Prob. 1.24EXCh. 1 - Financial statements We-Sell Realty, organized as...Ch. 1 - Transactions On September 1 of the current year,...Ch. 1 - Financial statements The amounts of the assets and...Ch. 1 - Financial statements Seth Feye established...Ch. 1 - Transactions; financial statements On August 1,...Ch. 1 - Transactions; financial statements DLite Dry...Ch. 1 - Missing amounts from financial statements The...Ch. 1 - Transactions Amy Austin established an insurance...Ch. 1 - Financial statements The amounts of the assets and...Ch. 1 - Financial statements Jose Loder established Bronco...Ch. 1 - Prob. 1.4BPRCh. 1 - Transactions; financial statements Bevs Dry...Ch. 1 - Missing amount from financial statements The...Ch. 1 - Peyton Smith enjoys listening to all types of...Ch. 1 - Prob. 1.1ADMCh. 1 - Home Depot: Ratio of liabilities to stockholders'...Ch. 1 - Lowes: Ratio of liabilities to stockholders equity...Ch. 1 - Prob. 1.4ADMCh. 1 - Prob. 1.1TIFCh. 1 - Prob. 1.3TIF
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