(In millions) 1. Total assets 2. Total common stockholders' equity. 3. Operating income....... 4. Interest expense......... 5. Leverage ratio .... 6. Total debt ...... 7. Debt ratio................. 8. Times interest earned ................ The Deal Corporation $16,870 $ 3,080 $ 1,400 $ 87 Simple Stores, Inc. $203,130 $ 71,310 $ 26,930 $ 2,050
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Examine the following
selected financial information for The Deal Corporation and Simple Stores, Inc., as of the
end of their fiscal years ending in 2018:
1. Complete the table, calculating all the requested information for the two companies. Use
year-end figures in place of averages where needed for the purpose of calculating the ratios
in this exercise.
2. Evaluate each company’s long-term debt-paying ability (strong, medium, weak)
Step by step
Solved in 2 steps with 2 images
- The following data were abstracted from the records of Ballistic Corporation for the year: Sales ................................................. $900,000 Bond interest expense ................................. 50,000 Income taxes .......................................... 200,000 Net income ............................................ 300,000 How many times was bond interest earned? a. 18.0 b. 15.0 c. 11.0 d. 10.0 could you please show me how to calculateRoswell Corporation reported the following data:Dividends.................. $ 5,000Purchase returns........ 6,000Sales revenue ............. 440,000Ending inventory....... 45,000Freight in..................... $ 22,000Purchases .................... 206,000Beginning inventory .... 51,000Purchase discounts...... 4,500Roswell’s gross profit percentage isa. 49.2.b. 50.8.c. 56.0.d. 48.2.These account balances at December 31 relate to Sportplace, Inc.:Accounts Payable ........................ $ 51,700Accounts Receivable....................Common Stock ...........................81,050Treasury Stock ............................Bonds Payable .............................313,0005,7003,300Paid-in Capital in Excessof Par—Common................................. $240,000Preferred Stock, 10%, $100 Par................Retained Earnings.....................................Notes Receivable.......................................85,00071,90012,800Q10-62. What is total paid-in capital for Sportplace? (Assume that treasury stock does notreduce total paid-in capital.)a. $632,300b. $709,900c. $643,700d. $638,000e. None of the above
- Using a BalanceSheetMOON CORPORATIONBALANCE SHEETJULY 31, 2011Assets Liabilities & Owners’ EquityCash . . . . . . . . . . . . . . . . $ 18,000 Liabilities:Accounts Receivable . . . 26,000 Notes PayableLand . . . . . . . . . . . . . . . . 37,200 (due in 60 days) . . . . . . . . . . . . . $ 12,400Building. . . . . . . . . . . . . . 38,000 Accounts Payable . . . . . . . . . . . . . 9,600Office Equipment . . . . . . 1,200 Total liabilities . . . . . . . . . . . . . . $ 22,000Stockholders’ equity:Capital Stock . . . . . . . . . $60,000Retained Earnings. . . . . 38,400 98,400Total . . . . . . . . . . . . . . . . $120,400 Total . . . . . . . . . . . . . . . . . . . . . . . . . $120,400STAR CORPORATIONBALANCE SHEETJULY 31, 2011Assets Liabilities & Owners’ EquityCash . . . . . . . . . . . . . . . . $ 4,800 Liabilities:Accounts Receivable . . . 9,600 Notes PayableLand . . . . . . . . . . . . . . . . 96,000 (due in 60 days) . . . . . . . . . . . . . $ 22,400Building. . . . . . . . . . . .…Using the financial statements of Sultan Center in 2018, calculate the following ratios and interpret your results: current ratio calculations ........................ interpretation of results ....................... return on equity ratio calculations ....................... interpretation of results ...................... profit margin calculations ......................... interpretation of results ........................... debt to equity ratio calculations ............................ interpretation of results ............................ (financial statements listed below and also company website for more information) https://cis.boursakuwait.com.kw/Portal/FData/610_BL_2019_9_E_293202094434260.pdfSelected data from Cattleya Corporation's financial statements follow: Current ratio .................................................................... 2.0 Acid-test ratio .................................................................. 1.5 Current liabilities ............................................................. P120,000 Inventory turnover ........................................................... 8 Gross profit margin as a percentage of sales ................... 40% The company has no prepaid expenses and there were no changes in inventories during the year. The Corporation's net sales for the year were: A) P800,000 B) P480,000 C) P1,200,000 D) P240,000
- The following information came from a recent balance sheet of Apple Computer, Inc.:End of Year Beginning of YearAssets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $53.9 billion $39.6 billionLiabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $26.0 billion ?Owners’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ? $21.0 billiona. Determine the amount of total liabilities reported in Apple Computer ’s balance sheet at thebeginning of the year.b. Determine the amount of total owners’ equity reported in Apple Computer ’s balance sheet atthe end of the year.c. Retained earnings was reported in Apple Computer ’s year-end balance sheet at $19.5 billion.If retained earnings was $13.8 billion at the beginning of the year, determine net income forthe year if no dividends were declared.AY PARK CORPORATION Comparative Balance Sheet Dec. 31, 2021 Dec. 31, 2020 Assets Cash.................................................................... $ 23,000.................................................................. $ 12,000 Accounts receivable.............................................. 18,000.......................................................... 14,000 Prepaid expenses................................................. 6,000............................................................ 9,000 Inventory.............................................................. 27,000.......................................................... 18,000 Long-term investment in bonds............................. -0- .................................................................... 18,000 Equipment............................................................…MEERA LTD. Comparative Statements of Financial Position December 31 .................................................................................2017 .............................................................2016 Land Buildings Accumulated depreciation—buildings Accounts receivable £ 20,000 70,000 (15,000) 20,800 £ 26,000 70,000 (10,000) 23,400 Cash Total Share capital—ordinary Retained earnings 17,660 £113,460 £ 75,000 26,090 10,700 £120,100 £ 72,000 20,000 Accounts payable Total 12,370 £113,460 28,100 £120,100 Additional information: 1. Net income was £22,590. Dividends declared and paid were £16,500. 2. All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for £5,000. Instructions (a) Prepare a statement of cash flows for 2017 using the indirect method
- Question Description The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2013 Revenue: Net sales………………………………………..$3,200,000 Interest income………………………………….. . 45,000 Gain on sale of marketable securities…….………...34,000 Total revenue…………………………………..$3,279,000 Costs and expenses: Cost of goods sold…………………………………………... $1,620,000 Operating expenses (including depreciation of $150,000)….1, 240,000 Interest expense…………………………………………….…...42,000 Income taxes…………………………………………….……....100,000 Loss on sale of plant Assets.....................................................…...12,000 Total Costs and expenses…………………………..………. $3,014,000 Net income………………………………………….…………. $260,000 Changes in the Company’s balance sheet accounts over the year are summarized as follows: Accounts receivable increased by $60,000 Accrued interest receivable decreased by $2,000 Inventory decreased by $60,000, and Account payable decreased by $16,000 Short term…For Year Ended December 31 Year 8 Year 7 Year 6 From income statement Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 333 $ 291 $ 496 Bad debt expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 81 65 Operating revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,719 3,534 3,074 December 31 Year 8 Year 7 From balance sheet Accounts receivable, net of allowance for doubtful accounts (Year 8, $212; Year 7, $183) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $951 $972 Bad debt expense on accounts receivable is substantial in relation to earnings. Assume a corporate tax rate of 40%. Information on accounts receivable written off and recoveries of accounts receivable previously written off was not available from the annual reports. Required a. What effect…Q. No. 3. ABC Industries Balance sheet ending December 31, 2016 Assets Liabilities and stockholder's Equity cash 32,720 Accounts Payable 120,000 Marketable securities 25,000 Notes payable Accounts Accruals 20000 account receivables .......... Total current liabiliyies .......... inventories .......... Long-term debt .......... total current assets .......... Stockholder's equity 600,000 .......... net fixed assets .......... Total liabilities and stockholder's equity .......... Total assets ........ The following financial data for 2016 is also available; (a) Sales totalled $1,800,000. (b) The gross profit margin was 25%. (c) Inventory turnover was 6.0. (d) There are 365 days in the year. (e) The average collection period was 40 days. (f) The current ratio was 1.60. (g) The total asset turnover ratio was 1.20. (h) The debt ratio was 60%. Complete the 2016 balance sheet for ABC Industries using the given information