Giga company had the following account balances at the end of its fiscal year. What is its net income for the year? Dividends =6,550, Common Stock=7,000, Fees Earned=72,900 Insurance Expense=22,700, Retained Earnings=8,000, Rent Expense=14,000 Choices: a.29,650, b. 21,650, c.72,900,d.36,200
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.The following data (in millions) are taken from the financial statements of Target Corporation: a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and the total operating expenses?
- The Butler-Huron Company’s balance sheet and income statement for last year are as follows:Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable securities $142 Accounts payable*** $808Accounts receivable* 941 Accrued liabilities Inventories** 1,607 (salaries and benefits) 508Other current assets 35 Other current liabilities 534Total current assets $2,725 Total current liabilities $1,850Plant and equipment (net) 3,029 Long-term debt and other Other assets 5,796 liabilities 2,228Total assets $5,796…Pritchett Co. reported the following year-end data: Cash $20,200 Short-term investments $ 8,600 Accounts receivable (current) $11,800 Inventory $28,600 Other current assets $12,000 Total current liabilities $29,000 Compute the (a) current ratioPritchett Company reported the following year-end data: Cash $ 20,000 Short-term investments 8,400 Accounts receivable (current) 14,800 Inventory 17,600 Prepaid (current) assets 6,700 Total current liabilities 27,000 Compute the (a) current ratio and (b) acid-test ratio.
- Pritchett Co. reported the following year-end data: Cash $20,200 Short-term investments $ 8,600 Accounts receivable (current) $11,800 Inventory $28,600 Other current assets $12,000 Total current liabilities $29,000 Compute the (a) quick ratioPritchett Co. reported the following year-end data: Cash $20,200 Short-term investments $ 8,600 Accounts receivable (current) $11,800Inventory $28,600Other current assets $12,000 Total current liabilities $29,000 Compute the (a) Acid test ratioAngola Inc. reported the following year-end data: Cash $20,000 Short-term investments $ 8,800 Accounts receivable (current) $12,000 Inventory $28,600 Other current assets $12,000 Total current liabilities $29,000 Compute the quick ratio
- The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.Angola Inc. reported the following year-end data: Cash $20,000 Short-term investments $ 8,800 Accounts receivable (current) $12,000 Inventory $28,600 Other current assets $12,000 Total current liabilities $29,000 Compute the (a) current ratioOak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52