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The document provides financial statements and cash flow calculations for Mara Corporation for the years 2001 and 2002. It includes balance sheets for 2001 and 2002, an income statement for 2002, and calculations of cash flow from assets, cash flow to creditors, and cash flow to stockholders for 2002. Cash flow from assets was $390, cash flow to creditors was $1,217, and cash flow to stockholders was -$827.
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Recommended
Power point of Class 2 group 5 American Airlines
This is final power point in Financial Management course about American Airlines Company compared with Southwest Airlines Company
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
I apologize this 1 question has numerous parts. I didnt want to s.pdf
I apologize: this 1 question has numerous parts. I didn\'t want to split it up in to separate
questions and confuse others. Selected year-end financial statements of Cabot Corporation
follow. (All sales were on credit; selected balanoe sheet amounts at December 31, 2014, were
inventory, S53,900; total assets, $199,400; common stock, 588,000; and retained earnings,
344,392.) CABOT CORPORATION Income Statement For Year Ended December 31, 2015
Sales Cost of goods sold S453,600 298,850 Gross profit Operating expenses Interest expense
158,750 98,800 4,600 Income before taxes Income taxes 53,350 21,492 Net income S 31,858
CABOT CORPORATION Balance Sheet December 31, 2015 Assets Cash Short-term
investments Accounts receivable, net Notes receivable (trade) S 18,000 9,200 32,200 000 38,150
2,800 151,300 Liabilities and Equity Accounts payable Accrued Income taxes payable Long-
term note payable, secured S 17,500 4,800 4,700 wages payable 5, Prepaid expenses Plant assets,
net by mortgage on plant assets Common stod Retained earnings 83,400 88,000 76,250 Total
assets S254,650 Total liabilities and equity S254,650 These are short-term notes receivable
arising from customer (trade) sales. Required: Compute the following: (1) current ratio, (2) acid-
test ratio, (3) days sales uncollected, (4) inventory turnover, (5) days\' sales in inventory, (8)
debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10)
return on total assets, and (11) return on common stockholders\' equity Do not round
intermediate calculations.) Choose Numerator: | Choose Denominator: | = Current Ratio Current
ratio 2015 to 1
Solution
Answer to Part 1.
Current Ratio = Current Assets / Current Liabilities
Current Assets = Cash + Short Term Investments + Accounts Receivable, net + Notes
Receivable (Trade) + Merchandise Inventory + Prepaid Expenses
Current Assets = $16,000 + $9,200 + $32,200 + $5,000 + $38,150 + $2,800
Current Assets = $103,350
Current Liabilities = Accounts Payable + Accrued Wages Payable + Income Taxes Payable
Current Liabilities = $17,500 + $4,800 + $4,700
Current Liabilities = $27,000
Current Ratio = 103,350 / 27,000
Current Ratio = 3.83 to 1
Answer to Part 2.
Acid-Test Ratio = Quick Assets / Current Liabilities
Quick Assets = Current Assets – Merchandise Inventory – Prepaid Expenses
Quick Assets = $103,350 - $38,150 - $2,800
Quick Assets = $62,400
Acid-Test Ratio = 62,400 /27,000
Acid-Test Ratio = 2.31 to 1
Answer to Part 3.
Days Collected Sales = Current Receivable / Net Sales * 365
Current Receivable = $32,200 + $5,000 = $37,200
Days Collected Sales = 37,200 / 453,600 * 100
Days Collected Sales = 29.93 days
Answer to Part 4.
Inventory Turnover Ratio = Cost of goods sold / Average Inventory
Average Inventory = (38,150 + 53,900) / 2
Average Inventory = $46,025
Inventory Turnover Ratio = 296,850 / 46,025
Inventory Turnover Ratio = 6.45 times
Answer to Part 5.
Days’ Sales in Inventory = Average Inventory / Cost of Goods Sol.
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014.pdf
Smolira Golf has 12,000 shares of common stock outstanding, and the market price for a share of
stock at the end of 2014 was $75.
What is the price-earnings ratio? (Do not round intermediate calculations.Round your answer to
2 decimal places (e.g., 32.16).)
What is the price-sales ratio? (Do not round intermediate calculations.Round your answer to 2
decimal places (e.g., 32.16).)
What are the dividends per share? (Do not round intermediate calculations.Round your answer to
2 decimal places (e.g., 32.16).)
What is the market-to-book ratio at the end of 2014? (Do not round intermediate
calculations.Round your answer to 2 decimal places (e.g., 32.16).)Some recent financial
statements for Smolira Golf, Inc., follow.
Solution
Requirement 1:
Price-earnings ratio = $75 / ($35,207 / 12,000)
= 25.56 times
Requirement 2:
Price-sales ratio = $75 * 12,000 / $186,970
= 4.81 times
Requirement 3:
Dividends per share = $11,885 / 12,000
= $0.99
Requirement 4:
Market-to-book ratio = $75 / ($75,966 / 12,000)
= 11.85 times.
Recommended
Power point of Class 2 group 5 American Airlines
This is final power point in Financial Management course about American Airlines Company compared with Southwest Airlines Company
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
I apologize this 1 question has numerous parts. I didnt want to s.pdf
I apologize: this 1 question has numerous parts. I didn\'t want to split it up in to separate
questions and confuse others. Selected year-end financial statements of Cabot Corporation
follow. (All sales were on credit; selected balanoe sheet amounts at December 31, 2014, were
inventory, S53,900; total assets, $199,400; common stock, 588,000; and retained earnings,
344,392.) CABOT CORPORATION Income Statement For Year Ended December 31, 2015
Sales Cost of goods sold S453,600 298,850 Gross profit Operating expenses Interest expense
158,750 98,800 4,600 Income before taxes Income taxes 53,350 21,492 Net income S 31,858
CABOT CORPORATION Balance Sheet December 31, 2015 Assets Cash Short-term
investments Accounts receivable, net Notes receivable (trade) S 18,000 9,200 32,200 000 38,150
2,800 151,300 Liabilities and Equity Accounts payable Accrued Income taxes payable Long-
term note payable, secured S 17,500 4,800 4,700 wages payable 5, Prepaid expenses Plant assets,
net by mortgage on plant assets Common stod Retained earnings 83,400 88,000 76,250 Total
assets S254,650 Total liabilities and equity S254,650 These are short-term notes receivable
arising from customer (trade) sales. Required: Compute the following: (1) current ratio, (2) acid-
test ratio, (3) days sales uncollected, (4) inventory turnover, (5) days\' sales in inventory, (8)
debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10)
return on total assets, and (11) return on common stockholders\' equity Do not round
intermediate calculations.) Choose Numerator: | Choose Denominator: | = Current Ratio Current
ratio 2015 to 1
Solution
Answer to Part 1.
Current Ratio = Current Assets / Current Liabilities
Current Assets = Cash + Short Term Investments + Accounts Receivable, net + Notes
Receivable (Trade) + Merchandise Inventory + Prepaid Expenses
Current Assets = $16,000 + $9,200 + $32,200 + $5,000 + $38,150 + $2,800
Current Assets = $103,350
Current Liabilities = Accounts Payable + Accrued Wages Payable + Income Taxes Payable
Current Liabilities = $17,500 + $4,800 + $4,700
Current Liabilities = $27,000
Current Ratio = 103,350 / 27,000
Current Ratio = 3.83 to 1
Answer to Part 2.
Acid-Test Ratio = Quick Assets / Current Liabilities
Quick Assets = Current Assets – Merchandise Inventory – Prepaid Expenses
Quick Assets = $103,350 - $38,150 - $2,800
Quick Assets = $62,400
Acid-Test Ratio = 62,400 /27,000
Acid-Test Ratio = 2.31 to 1
Answer to Part 3.
Days Collected Sales = Current Receivable / Net Sales * 365
Current Receivable = $32,200 + $5,000 = $37,200
Days Collected Sales = 37,200 / 453,600 * 100
Days Collected Sales = 29.93 days
Answer to Part 4.
Inventory Turnover Ratio = Cost of goods sold / Average Inventory
Average Inventory = (38,150 + 53,900) / 2
Average Inventory = $46,025
Inventory Turnover Ratio = 296,850 / 46,025
Inventory Turnover Ratio = 6.45 times
Answer to Part 5.
Days’ Sales in Inventory = Average Inventory / Cost of Goods Sol.
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014.pdf
Smolira Golf has 12,000 shares of common stock outstanding, and the market price for a share of
stock at the end of 2014 was $75.
What is the price-earnings ratio? (Do not round intermediate calculations.Round your answer to
2 decimal places (e.g., 32.16).)
What is the price-sales ratio? (Do not round intermediate calculations.Round your answer to 2
decimal places (e.g., 32.16).)
What are the dividends per share? (Do not round intermediate calculations.Round your answer to
2 decimal places (e.g., 32.16).)
What is the market-to-book ratio at the end of 2014? (Do not round intermediate
calculations.Round your answer to 2 decimal places (e.g., 32.16).)Some recent financial
statements for Smolira Golf, Inc., follow.
Solution
Requirement 1:
Price-earnings ratio = $75 / ($35,207 / 12,000)
= 25.56 times
Requirement 2:
Price-sales ratio = $75 * 12,000 / $186,970
= 4.81 times
Requirement 3:
Dividends per share = $11,885 / 12,000
= $0.99
Requirement 4:
Market-to-book ratio = $75 / ($75,966 / 12,000)
= 11.85 times.
Income Statement of Baker and Co.Services Provided$98000Intere.pdf
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Solution
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280.
FAC 2122Assignment Due Date April 24, 2019Instructions An.docx
FAC 2122
Assignment
Due Date: April 24, 2019
Instructions : Answer all questions
Question 1
Arcade Corporation's balance sheet and income statement appear below:
Income Statement
Sales
$723
Cost of goods sold
453
Gross margin
270
Selling and administrative expenses
163
Income before income taxes
107
Income tax expense
32
Net income
$75
Balance Sheet
Ending Balance
Beginning Balance
Cash
$42
$36
Debtors
77
80
Inventories
54
58
Plant and equipment
581
480
less: accumulated depreciation
(318)
(294)
Total Assets
$436
$360
creditors
$23
$28
Bonds payable
293
270
Common stock
61
60
Retained earnings
59
2
Total liabilities and equity
$436
$360
The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $18.
Required: Prepare a statement of cash flow . (10 marks)
Question 2
Comparative Balance Sheet
Shiner Corporation
Assets
Dec 31, 1996
Dec 31, 1995
Cash
$37,000
$49,000
Accounts Receivable
$26,000
$36,000
Prepaid Expenses
$6,000
$0
Land
$70,000
$0
Building
$200,000
$0
Accumulated Depreciation
$11,000
$189,000
$0
Equipment
$68,000
$0
Accumulated Depreciation
$10,000
$58,000
$0
Total Assets
$386,000
$85,000
Liabilities and Stockholder Equity
Accounts Payable
$40,000
$5,000
Bonds Payable
$150,000
$0
Common Stock
$60,000
$0
Retained Earnings
$136,000
$20,000
Total Liabilities and Stockholder Equity
$386,000
$85,000
Income Statement
Shiner Corporation
Revenue
$492,000
Operating Expenses
$269,000
Depreciation
$21,000
$290,000
Income before Income Taxes
$202,000
Income Tax Expense
$68,000
Net Income
$134,000
Additional information:
1. During the year Shiner Corporation paid dividends of $18,000.
2. Shiner also issued $150,000 in bonds.
Copy and complete the statement below: (15 marks)
Statement of Cash Flows
Cash Flow from Operating Activities
Net Income
Adjustments to reconcile net income to net cash
Depreciation
Accts Receivable decrease
Prepaid Expense increase
Accts Payable Increase
Net cash provided from Operating Activities
Investing Activities
Land Purchase
Building Purchase
Equipment Purchase
Financing Activities
Dividend payment to shareholders
Issuance of Bonds Payable
Net Decrease in Cash
Cash Jan 1, 1996
Cash Dec 31, 1996
Question 3
Caribbean Distributors
Balance Sheet for
Assets20102009
Cash 191 000 159 000
Debtors/Accounts Receivables 12 000 15 000
Stock/Inventory 170 000 160 000
Prepaid expenses 6 000 8 000
Land 140 000 80 000
Equipment 160 000 0
Accumulated depreciation – equipment (16 000) 0
Total 663 000 422 000
Liabilities and Shareholders Equity
Trade creditors/Accounts Payable 52 000 60 000
Accrued expenses payable/owing 15 000 20 000
Income tax .
Sample LBO Model Template – 2
Another Sample Leverage Buyout Model Template. In addition, will provide an empty version which allows you to input your own information.
http://flevy.com/browse/business-document/Sample-LBO-Model-Template---2-27
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
B PROBLEMSP23-1B (L02,4) (SCF—Indirect Method) The followi.docx
B PROBLEMS
P23-1B (L02,4) (SCF—Indirect Method) The following are Sanibel Corp.’s comparative balance sheet accounts at Decem-
ber 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017.
Additional information:
1. On December 31, 2016, Sanibel acquired 25% of Island Co.’s common stock for $420,000. On that date, the carrying value
of Island’s assets and liabilities, which approximated their fair values, was $1,680,000. Island reported income of $220,000
for the year ended December 31, 2017. No dividend was paid on Island’s common stock during the year.
2. During 2016, Sanibel loaned $500,000 to POI Co., an unrelated company. POI made the first semi-annual principal repay-
ment of $50,000, plus interest at 10%, on December 31, 2016. POI is current on the loan as of December 31, 2017.
3. On January 2, 2017, Sanibel sold equipment costing $100,000, with a carrying amount of $31,000, for $20,000 cash.
4. On December 31, 2017, Sanibel entered into a capital lease for a new factory. The present value of the annual rental pay-
ments is $850,000, which equals the fair value of the building. Sanibel made the first rental payment of $120,000 when due
on January 2, 2018.
5. Net income for 2017 was $285,000.
6. Sanibel declared and paid cash dividends for 2017 and 2016 as follows.
Instructions
Prepare a statement of cash flows for Sanibel Corp. for the year ended December 31, 2017, using the indirect method.
(AICPA adapted)
1
COMPARATIVE BALANCE SHEETS
Increase
2017 2016 (Decrease)
Cash $ 650,000 $ 510,000 $ 140,000
Accounts receivable 1,260,000 1,090,000 170,000
Inventory 1,538,000 1,370,000 168,000
Property, plant, and equipment 2,680,000 1,763,000 917,000
Accumulated depreciation (850,000) (760,000) (90,000)
Investment in Island Co. 475,000 420,000 55,000
Loan receivable 350,000 450,000 (100,000)
Total assets $6,103,000 $4,843,000 $1,260,000
Accounts payable $1,080,000 $ 910,000 $ 170,000
Income taxes payable 90,000 75,000 15,000
Dividends payable 100,000 60,000 40,000
Capital lease obligation 850,000 0 850,000
Common stock, $1 par 400,000 400,000 0
Paid-in capital in excess of 2,100,000 2,100,000 0
par—common stock
Retained earnings 1,483,000 1,298,000 185,000
Total liabilities and stockholders’ equity $6,103,000 $4,843,000 $1,260,000
2017 2016
Declared December 15, 2017 December 15, 2016
Paid February 28, 2018 February 28, 2017
Amount $100,000 $60,000
c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 /208/WB01908/XXXXXXXXXXXXX/ch23/text_s/208/WB01908/XXXXXXXXXXXXX/ch23/text_s
2 Chapter 23 Statement of Cash Flows
P23-2B (L02,4) (SCF—Indirect Method) The comparative balance sheets for Queen Corporation show the following
information.
Additional data related to 2017 are as follows.
1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000.
2. $18,000 of th ...
Financial ManagementGRADE 39This is.docx
Financial Management
GRADE: 39%
This is the planning, organization and control of financial activities in business premises. This function in estimating capital requirements, determining capital composition, the source of funds, where the funds should be invested and management of the surplus finances. This is done with the aim resource efficiency, accountability, counter competition and plan on long-term financial sustainability.
1. Financial Statements and Ratios
(a) Accounts receivable for 2015 is given by;
Current assets – (cash and marketable securities + inventory)
= (1542) $ - (427+815) $ = $300
(b) Accounts payable for 2014 is given by;
= current liabilities – (notes payable + accrued wages and taxes)
= (997) $ - (421+257) $ = $319
(c) Gross plant and equipment for 2015 is given by;
= net plant and equipment – depreciation
= $2872 - $368 = $2504
(d) Long term debt for 2014 is given by;
= long term liabilities – current liabilities
= $2956 - $ 997 = $1959
(e) Common stock and paid-in surplus (250 million shares) for 2014 is given by;
= total equity – (preferred stock + retained earnings)
= (1472) $ – (30+1142) $ = $300
(f) Total FA for 2015 is given by;
= net plant and equipment – other long term assets
= $2872 + $521 = $3393
(g) Net sales for 2015 is given by;
Gross profits – cost of goods sold
= $1623 + $753 = $2376
(h) Less cost of goods sold in 2014 is given by;
Net sales – other operating expenses
= $2018 - $1189 = $829
(i) Less interest for 2015 is given by;
= earnings before interest and taxes (EBIT) – Earnings before taxes (EBT)
= $1086 - $949 = $137
(j) Less taxes for 2015 is given by;
= earnings before taxes (EBT) – net income
= $946 - $664 = $285
(k) Earnings per share (EPS) for 2015 is given by;
= Net income available to common stock holders divided by addition to retained income
= $566/$347 = $1.63
(l) Dividends per share (DPS) for 2014 is given by;
= common stock dividends divided by addition to retained income less preferred stock dividends
= $(199)/$(249 – 98) = $1.32
(m) Book value per share (BVPS) for 2015 is given by;
= net sales divided by shares outstanding
= $2376/$445 = $5.34
(n) Net income
Since; EBITDA = Gross profit – selling, general and administrative expenses,
EBIT = EBITDA – depreciation+ amortization expenses.
EBT = EBIT – interest expenses
Net income = EBT – tax expenses.
= $664
(o) Increase in accrued wages and taxes is given by;
= accrued wages recorded at the start – accrued wages recorded at the end
= $309 - $257 = $52
(p) Increase in inventory is given by;
Inventory at the opening of a balance sheet – inventory recorded at the close of a balance sheet.
= $815 - $797 = $18
(q) Net cash flow from operating activities
EBIT + depreciation = cash flow from operating activities
= $114 + $1086 = $1200
(r) Increase in other long term assets is given by;
= Long term assets at the start – long term assets at the close of a balance sheet
$521 - $487 = $34
(s) Net cas ...
Comparative ratio analysis
Comparative ratio analysis on Coca-cola and Pepsi
Analysis and comparison study of both companies on the basis of
▪ Profitability ratios
▪ RETURN ON ENVESTMENT
▪ RETURN ON SHAREHOLDER’S FUND
▪ RETURN ON ASSET
▪ GROSS PROFIT RATIO
▪ NET PROFIT RATIO
▪ Liquidity ratios
▪ Current ratio
▪ Quickratio
▪ Turnover ratio
▪ CAPITAL TURNOVER RATIO
▪ FIXED ASSETS TURNOVER RATIO
▪ WORKING CAPITAL TURNOVER RATIO
▪ Solvency ratio
▪ Debt-Equity ratio
The analysis is done on the basis of company balance sheet and profit & loss account.
Amounts are in thousands of dollars (except number of shares and pri.pdf
Amounts are in thousands of dollars (except number of shares and price per share):
Kiwi Fruit Company Balance Sheet
Cash and equivalents
$
570
Operating assets
650
Property, plant, and equipment
2,700
Other assets
110
Total assets
$
4,030
Current liabilities
$
920
Long-term debt
1,280
Other liabilities
120
Total liabilities
$
2,320
Paid in capital
$
340
Retained earnings
1,370
Total equity
$
1,710
Total liabilities and equity
$
4,030
Kiwi Fruit Company Income Statement
Net sales
$
7,800
Cost of goods sold
(5,900
)
Gross profit
$
1,900
Operating expense
(990
)
Operating income
$
910
Other income
105
Net interest expense
(200
)
Pretax income
$
815
Income tax
(285
)
Net income
$
530
Earnings per share
$
2.00
Shares outstanding
265,000
Recent price
$
34.50
Kiwi Fruit Company Cash Flow Statement
Net income
$
530
Depreciation and amortization
175
Changes in operating assets
(90
)
Changes in current liabilities
(120
)
Operating cash flow
$
495
Net additions to properties
$
180
Changes in other assets
(80
)
Investing cash flow
$
100
Issuance/redemption of long-term debt
$
(190
)
Dividends paid
(220
)
Financing cash flow
$
(410
)
Net cash increase
$
95
Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit
assuming a 10 percent increase in sales.
Amounts are in thousands of dollars (except number of shares and price per share):
Solution.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Ch02 P14 Build a Model Spring 1, 20137/22/12Chapter 2. Ch 02 P14 Build a ModelExcept for charts and answers that must be written, only Excel formulas that use cell references or functions will be accepted for credit. Numeric answers in cells will not be accepted.a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's income statement. Also calculate total dividends and the addition to retained earnings.The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the balance sheet above, we constructed the income statement shown below.Key Input Data for Cumberland Industries2010 (Thousands of dollars)Sales Revenue$455,000Expenses (excluding depreciation) as a percent of sales85.0%Net fixed assest$67,000Depr. as a % of net fixed assets10.0%Tax rate40.0%Interest expense$8,550Dividend Payout Ratio25%Cumberland Industries: Income Statement (Thousands of dollars)2010SalesOperating costs excluding depreciation EBITDADepreciation (Cumberland has no amortization charges) EBITInterest expense EBTTaxes (40%) Net incomeCommon dividendsAddition to retained earningsb. Cumberland Industries' partial balance sheets are shown below. Cumberland issued $10,000,000 of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity. Dollar value of common stock issued (in thousands of dollars)$10,000Cumberland Industries December 31 Balance Sheets(in thousands of dollars)20102009AssetsCash and cash equivalents$91,450$74,625Short-term investments11,40015,100Accounts Receivable108,47085,527Inventories38,45034,982 Total current assets$249,770$210,234 Net fixed assets67,00042,436Total assets$316,770$252,670Liabilities and equityAccounts payable$30,761$23,109Accruals30,40522,656Notes payable12,71714,217 Total current liabilities$73,883$59,982Long-term debt80,26363,914 Total liabilities$154,146$123,896Common stock$90,000Retained earnings38,774 Total common equity$128,774Total liabilities and equity$252,670Check for balancing (this should be zero):c. Construct the statement of cash flows for the most recent year. Statement of Cash Flows(in thousands of dollars)Operating ActivitiesNet IncomeAdjustments: Noncash adjustment: Depreciation Due to changes in working capital: Due to change in accounts receivable
Kenneth D. Jackson: An increase in accounts receivable from the pevious year to the current year reduces the net cash provided by operating activities
Due to change in inventories
Kenneth D. ...
How libraries can support authors with open access requirements for UKRI fund...
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
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Income Statement of Baker and Co.Services Provided$98000Intere.pdf
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Solution
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280.
FAC 2122Assignment Due Date April 24, 2019Instructions An.docx
FAC 2122
Assignment
Due Date: April 24, 2019
Instructions : Answer all questions
Question 1
Arcade Corporation's balance sheet and income statement appear below:
Income Statement
Sales
$723
Cost of goods sold
453
Gross margin
270
Selling and administrative expenses
163
Income before income taxes
107
Income tax expense
32
Net income
$75
Balance Sheet
Ending Balance
Beginning Balance
Cash
$42
$36
Debtors
77
80
Inventories
54
58
Plant and equipment
581
480
less: accumulated depreciation
(318)
(294)
Total Assets
$436
$360
creditors
$23
$28
Bonds payable
293
270
Common stock
61
60
Retained earnings
59
2
Total liabilities and equity
$436
$360
The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $18.
Required: Prepare a statement of cash flow . (10 marks)
Question 2
Comparative Balance Sheet
Shiner Corporation
Assets
Dec 31, 1996
Dec 31, 1995
Cash
$37,000
$49,000
Accounts Receivable
$26,000
$36,000
Prepaid Expenses
$6,000
$0
Land
$70,000
$0
Building
$200,000
$0
Accumulated Depreciation
$11,000
$189,000
$0
Equipment
$68,000
$0
Accumulated Depreciation
$10,000
$58,000
$0
Total Assets
$386,000
$85,000
Liabilities and Stockholder Equity
Accounts Payable
$40,000
$5,000
Bonds Payable
$150,000
$0
Common Stock
$60,000
$0
Retained Earnings
$136,000
$20,000
Total Liabilities and Stockholder Equity
$386,000
$85,000
Income Statement
Shiner Corporation
Revenue
$492,000
Operating Expenses
$269,000
Depreciation
$21,000
$290,000
Income before Income Taxes
$202,000
Income Tax Expense
$68,000
Net Income
$134,000
Additional information:
1. During the year Shiner Corporation paid dividends of $18,000.
2. Shiner also issued $150,000 in bonds.
Copy and complete the statement below: (15 marks)
Statement of Cash Flows
Cash Flow from Operating Activities
Net Income
Adjustments to reconcile net income to net cash
Depreciation
Accts Receivable decrease
Prepaid Expense increase
Accts Payable Increase
Net cash provided from Operating Activities
Investing Activities
Land Purchase
Building Purchase
Equipment Purchase
Financing Activities
Dividend payment to shareholders
Issuance of Bonds Payable
Net Decrease in Cash
Cash Jan 1, 1996
Cash Dec 31, 1996
Question 3
Caribbean Distributors
Balance Sheet for
Assets20102009
Cash 191 000 159 000
Debtors/Accounts Receivables 12 000 15 000
Stock/Inventory 170 000 160 000
Prepaid expenses 6 000 8 000
Land 140 000 80 000
Equipment 160 000 0
Accumulated depreciation – equipment (16 000) 0
Total 663 000 422 000
Liabilities and Shareholders Equity
Trade creditors/Accounts Payable 52 000 60 000
Accrued expenses payable/owing 15 000 20 000
Income tax .
Sample LBO Model Template – 2
Another Sample Leverage Buyout Model Template. In addition, will provide an empty version which allows you to input your own information.
http://flevy.com/browse/business-document/Sample-LBO-Model-Template---2-27
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
B PROBLEMSP23-1B (L02,4) (SCF—Indirect Method) The followi.docx
B PROBLEMS
P23-1B (L02,4) (SCF—Indirect Method) The following are Sanibel Corp.’s comparative balance sheet accounts at Decem-
ber 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017.
Additional information:
1. On December 31, 2016, Sanibel acquired 25% of Island Co.’s common stock for $420,000. On that date, the carrying value
of Island’s assets and liabilities, which approximated their fair values, was $1,680,000. Island reported income of $220,000
for the year ended December 31, 2017. No dividend was paid on Island’s common stock during the year.
2. During 2016, Sanibel loaned $500,000 to POI Co., an unrelated company. POI made the first semi-annual principal repay-
ment of $50,000, plus interest at 10%, on December 31, 2016. POI is current on the loan as of December 31, 2017.
3. On January 2, 2017, Sanibel sold equipment costing $100,000, with a carrying amount of $31,000, for $20,000 cash.
4. On December 31, 2017, Sanibel entered into a capital lease for a new factory. The present value of the annual rental pay-
ments is $850,000, which equals the fair value of the building. Sanibel made the first rental payment of $120,000 when due
on January 2, 2018.
5. Net income for 2017 was $285,000.
6. Sanibel declared and paid cash dividends for 2017 and 2016 as follows.
Instructions
Prepare a statement of cash flows for Sanibel Corp. for the year ended December 31, 2017, using the indirect method.
(AICPA adapted)
1
COMPARATIVE BALANCE SHEETS
Increase
2017 2016 (Decrease)
Cash $ 650,000 $ 510,000 $ 140,000
Accounts receivable 1,260,000 1,090,000 170,000
Inventory 1,538,000 1,370,000 168,000
Property, plant, and equipment 2,680,000 1,763,000 917,000
Accumulated depreciation (850,000) (760,000) (90,000)
Investment in Island Co. 475,000 420,000 55,000
Loan receivable 350,000 450,000 (100,000)
Total assets $6,103,000 $4,843,000 $1,260,000
Accounts payable $1,080,000 $ 910,000 $ 170,000
Income taxes payable 90,000 75,000 15,000
Dividends payable 100,000 60,000 40,000
Capital lease obligation 850,000 0 850,000
Common stock, $1 par 400,000 400,000 0
Paid-in capital in excess of 2,100,000 2,100,000 0
par—common stock
Retained earnings 1,483,000 1,298,000 185,000
Total liabilities and stockholders’ equity $6,103,000 $4,843,000 $1,260,000
2017 2016
Declared December 15, 2017 December 15, 2016
Paid February 28, 2018 February 28, 2017
Amount $100,000 $60,000
c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 /208/WB01908/XXXXXXXXXXXXX/ch23/text_s/208/WB01908/XXXXXXXXXXXXX/ch23/text_s
2 Chapter 23 Statement of Cash Flows
P23-2B (L02,4) (SCF—Indirect Method) The comparative balance sheets for Queen Corporation show the following
information.
Additional data related to 2017 are as follows.
1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000.
2. $18,000 of th ...
Financial ManagementGRADE 39This is.docx
Financial Management
GRADE: 39%
This is the planning, organization and control of financial activities in business premises. This function in estimating capital requirements, determining capital composition, the source of funds, where the funds should be invested and management of the surplus finances. This is done with the aim resource efficiency, accountability, counter competition and plan on long-term financial sustainability.
1. Financial Statements and Ratios
(a) Accounts receivable for 2015 is given by;
Current assets – (cash and marketable securities + inventory)
= (1542) $ - (427+815) $ = $300
(b) Accounts payable for 2014 is given by;
= current liabilities – (notes payable + accrued wages and taxes)
= (997) $ - (421+257) $ = $319
(c) Gross plant and equipment for 2015 is given by;
= net plant and equipment – depreciation
= $2872 - $368 = $2504
(d) Long term debt for 2014 is given by;
= long term liabilities – current liabilities
= $2956 - $ 997 = $1959
(e) Common stock and paid-in surplus (250 million shares) for 2014 is given by;
= total equity – (preferred stock + retained earnings)
= (1472) $ – (30+1142) $ = $300
(f) Total FA for 2015 is given by;
= net plant and equipment – other long term assets
= $2872 + $521 = $3393
(g) Net sales for 2015 is given by;
Gross profits – cost of goods sold
= $1623 + $753 = $2376
(h) Less cost of goods sold in 2014 is given by;
Net sales – other operating expenses
= $2018 - $1189 = $829
(i) Less interest for 2015 is given by;
= earnings before interest and taxes (EBIT) – Earnings before taxes (EBT)
= $1086 - $949 = $137
(j) Less taxes for 2015 is given by;
= earnings before taxes (EBT) – net income
= $946 - $664 = $285
(k) Earnings per share (EPS) for 2015 is given by;
= Net income available to common stock holders divided by addition to retained income
= $566/$347 = $1.63
(l) Dividends per share (DPS) for 2014 is given by;
= common stock dividends divided by addition to retained income less preferred stock dividends
= $(199)/$(249 – 98) = $1.32
(m) Book value per share (BVPS) for 2015 is given by;
= net sales divided by shares outstanding
= $2376/$445 = $5.34
(n) Net income
Since; EBITDA = Gross profit – selling, general and administrative expenses,
EBIT = EBITDA – depreciation+ amortization expenses.
EBT = EBIT – interest expenses
Net income = EBT – tax expenses.
= $664
(o) Increase in accrued wages and taxes is given by;
= accrued wages recorded at the start – accrued wages recorded at the end
= $309 - $257 = $52
(p) Increase in inventory is given by;
Inventory at the opening of a balance sheet – inventory recorded at the close of a balance sheet.
= $815 - $797 = $18
(q) Net cash flow from operating activities
EBIT + depreciation = cash flow from operating activities
= $114 + $1086 = $1200
(r) Increase in other long term assets is given by;
= Long term assets at the start – long term assets at the close of a balance sheet
$521 - $487 = $34
(s) Net cas ...
Comparative ratio analysis
Comparative ratio analysis on Coca-cola and Pepsi
Analysis and comparison study of both companies on the basis of
▪ Profitability ratios
▪ RETURN ON ENVESTMENT
▪ RETURN ON SHAREHOLDER’S FUND
▪ RETURN ON ASSET
▪ GROSS PROFIT RATIO
▪ NET PROFIT RATIO
▪ Liquidity ratios
▪ Current ratio
▪ Quickratio
▪ Turnover ratio
▪ CAPITAL TURNOVER RATIO
▪ FIXED ASSETS TURNOVER RATIO
▪ WORKING CAPITAL TURNOVER RATIO
▪ Solvency ratio
▪ Debt-Equity ratio
The analysis is done on the basis of company balance sheet and profit & loss account.
Amounts are in thousands of dollars (except number of shares and pri.pdf
Amounts are in thousands of dollars (except number of shares and price per share):
Kiwi Fruit Company Balance Sheet
Cash and equivalents
$
570
Operating assets
650
Property, plant, and equipment
2,700
Other assets
110
Total assets
$
4,030
Current liabilities
$
920
Long-term debt
1,280
Other liabilities
120
Total liabilities
$
2,320
Paid in capital
$
340
Retained earnings
1,370
Total equity
$
1,710
Total liabilities and equity
$
4,030
Kiwi Fruit Company Income Statement
Net sales
$
7,800
Cost of goods sold
(5,900
)
Gross profit
$
1,900
Operating expense
(990
)
Operating income
$
910
Other income
105
Net interest expense
(200
)
Pretax income
$
815
Income tax
(285
)
Net income
$
530
Earnings per share
$
2.00
Shares outstanding
265,000
Recent price
$
34.50
Kiwi Fruit Company Cash Flow Statement
Net income
$
530
Depreciation and amortization
175
Changes in operating assets
(90
)
Changes in current liabilities
(120
)
Operating cash flow
$
495
Net additions to properties
$
180
Changes in other assets
(80
)
Investing cash flow
$
100
Issuance/redemption of long-term debt
$
(190
)
Dividends paid
(220
)
Financing cash flow
$
(410
)
Net cash increase
$
95
Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit
assuming a 10 percent increase in sales.
Amounts are in thousands of dollars (except number of shares and price per share):
Solution.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Ch02 P14 Build a Model Spring 1, 20137/22/12Chapter 2. Ch 02 P14 Build a ModelExcept for charts and answers that must be written, only Excel formulas that use cell references or functions will be accepted for credit. Numeric answers in cells will not be accepted.a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's income statement. Also calculate total dividends and the addition to retained earnings.The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the balance sheet above, we constructed the income statement shown below.Key Input Data for Cumberland Industries2010 (Thousands of dollars)Sales Revenue$455,000Expenses (excluding depreciation) as a percent of sales85.0%Net fixed assest$67,000Depr. as a % of net fixed assets10.0%Tax rate40.0%Interest expense$8,550Dividend Payout Ratio25%Cumberland Industries: Income Statement (Thousands of dollars)2010SalesOperating costs excluding depreciation EBITDADepreciation (Cumberland has no amortization charges) EBITInterest expense EBTTaxes (40%) Net incomeCommon dividendsAddition to retained earningsb. Cumberland Industries' partial balance sheets are shown below. Cumberland issued $10,000,000 of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity. Dollar value of common stock issued (in thousands of dollars)$10,000Cumberland Industries December 31 Balance Sheets(in thousands of dollars)20102009AssetsCash and cash equivalents$91,450$74,625Short-term investments11,40015,100Accounts Receivable108,47085,527Inventories38,45034,982 Total current assets$249,770$210,234 Net fixed assets67,00042,436Total assets$316,770$252,670Liabilities and equityAccounts payable$30,761$23,109Accruals30,40522,656Notes payable12,71714,217 Total current liabilities$73,883$59,982Long-term debt80,26363,914 Total liabilities$154,146$123,896Common stock$90,000Retained earnings38,774 Total common equity$128,774Total liabilities and equity$252,670Check for balancing (this should be zero):c. Construct the statement of cash flows for the most recent year. Statement of Cash Flows(in thousands of dollars)Operating ActivitiesNet IncomeAdjustments: Noncash adjustment: Depreciation Due to changes in working capital: Due to change in accounts receivable
Kenneth D. Jackson: An increase in accounts receivable from the pevious year to the current year reduces the net cash provided by operating activities
Due to change in inventories
Kenneth D. ...
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kuis kuliah 3.pptx
- 1. FINANCIAL STATEMENT AND CASH FLOW
- 2. Example: U.S. Corporation • CFFA = OCF – NCS - ΔNWC OCF = EBIT + depreciation – taxes = ........... = $694 + 65 – 212 = $547 NCS = ending net FA– beginning net FA + depreciation = ..... = $1709 – 1644 + 65 = $130 ΔNWC = ending NWC – beginning NWC = ........... = ($1403 – 389) – ($1112 – 428) = $330 CFFA = OCF – NCS - ΔNWC • CFFA = 547 – 130 – 330 = $87 2009 2010 2009 2010 Current Assets Current Liabilities Cash $104 $160 Accounts Payable $232 $266 Accounts Receivable 455 688 Notes Payable 196 123 Inventory 553 555 Total $428 $389 Total $1,112 $1,403 Fixed Assets Net Fixed assets $1,644 $1,709 Long-term debt $408 $454 Owners' equity Common stock and paid-in surplus 600 640 Retained earnings 1,320 1,629 Total $1,920 $2,269 Total assets $2,756 $3,112 Total Liabilties & Owners Equity $2,756 $3,112 Balance Sheet Assets Liabiities & Owners' Equity $1,509 750 65 $694 70 $624 212 $412 Dividends $103 Addition to retained earnings $309 Taxes Net Income Depreciation Interest Paid Earnings before interest and taxes Taxable income U.S. Corporation Income Statement Net sales Cost of goods sold
- 3. Example: U.S. Corporation • CFFA = CF/CR + CF/SH CF/CR = interest paid – net new borrowing = .................... = $70 – ($454 – 408) = $24 CF/SH = dividends paid – net new equity = ....................... = $103 – ($640 – 600) = $63 • CFFA = $24 + $63 = $87 2009 2010 2009 2010 Current Assets Current Liabilities Cash $104 $160 Accounts Payable $232 $266 Accounts Receivable 455 688 Notes Payable 196 123 Inventory 553 555 Total $428 $389 Total $1,112 $1,403 Fixed Assets Net Fixed assets $1,644 $1,709 Long-term debt $408 $454 Owners' equity Common stock and paid-in surplus 600 640 Retained earnings 1,320 1,629 Total $1,920 $2,269 Total assets $2,756 $3,112 Total Liabilties & Owners Equity $2,756 $3,112 U.S. Corporation Balance Sheet Assets Liabiities & Owners' Equity $1,509 750 65 $694 70 $624 212 $412 Dividends $103 Addition to retained earnings $309 Taxes Net Income Depreciation Interest Paid Earnings before interest and taxes Taxable income U.S. Corporation Income Statement Net sales Cost of goods sold
- 4. 2.1 Cash Flow for Mara Corporation This problem will give you some practice working with financial statements and figuring cash flow. Based on the following information for Mara Corporation, prepare an income statement for 2002 and bal- ance sheets for 2001 and 2002. Next, following our U.S. Corporation examples in the chapter, calculate cash flow from assets, cash flow to creditors, and cash flow to stockholders for Mara for 2002. Use a 35 percent tax rate throughout. You can check your answers against ours, found in the following section. 2001 2002 Sales $4,203 $4,507 Cost of goods sold 2,422 2,633 Depreciation 785 952 Interest 180 196 Dividends 225 250 Current assets 2,205 2,429 Net fixed assets 7,344 7,650 Current liabilities 1,003 1,255 Long-term debt 3,106 2,085
- 5. 2001 2002 2001 2002 Current assets $2,205 $ 2,429 Current liabilities $1,003 $ 1,255 Net fixed assets 7,344 7,650 Long-term debt 3,106 2,085 Equity 5,440 6,739 Total assets $9,549 $10,079 Total liabilities and shareholders’ equity $9,549 $10,079 BALANCE SHEET
- 6. Sales $ 4,507 Cost of goods sold $ 2,633 Depreciation $ 952 Earnings before interest and taxes $ 922 Interest paid $ 196 Taxable income $ 726 Taxes (35%) $ 254 Net income $ 472 Dividends $ 250 Addition to retained earnings $ 222 INCOME STATEMENT
- 7. Operating cash flow $ 1,620 Net capital spending $ 1,258 Change in NWC $ 28 Cash flow from assets $ 390 Interest paid $ 196 Net new borrowing $ 1,021 Cash flow to creditors $ 1,217 Dividends paid $ 250 Net new equity raised $ 1,077 Cash flow to stockholders $ - 827 Kenapa 1077 bukan 1299 ? (hrs dikurang RE) = 196 – (-1021) Hutang turun Buktikan CFFA – CF/CR – CF/SH = 0 390 -1217 + 827 = 0 390 = 1217 - 827