LAKE OF EGYPT MARINA, INCBalance Sheet as of December 31, 2012 an.docx
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LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 45 $ 36 Accrued wages and taxes $ 40 $ 20 Accounts receivable 40 32 Accounts payable 35 24 Inventory 195 148 Notes payable 30 32 Total $ 280 $ 216 Total $ 105 $ 76 Fixed assets: Long term debt: $ 130 $ 200 Gross plant and equipment $ 255 $ 200 Stockholders’ equity: Less: Depreciation 60 40 Preferred stock (4 million shares) $ 4 $ 4 Common stock and paid in surplus (16 million shares) 16 16 Net plant and equipment $ 195 $ 160 Retained earnings 245 104 Other long term assets 25 24 Total $ 220 $ 184 Total $ 265 $ 124 Total assets $ 500 $ 400 Total liabilities and equity $ 500 $ 400 LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2012 and 2011 (in millions of dollars) 2012 2011 Net sales (all credit) $ 500 $ 300 Less: Cost of goods sold 200 105 Gross profits $ 300 $ 195 Less: Depreciation 20 12 Other operating expenses 25 18 Earnings before interest and taxes (EBIT) $ 255 $ 165 Less: Interest 25 15 Earnings before taxes (EBT) $ 230 $ 150 Less: Taxes 69 45 Net income $ 161 $ 105 Less: Preferred stock dividends $ 4 $ 4 Net income available to common stockholders $ 157 $ 101 Less: Common stock dividends 16 16 Addition to retained earnings $ 141 $ 85 Per (common) share data: Earnings per share (EPS) $ 9.813 $ 6.313 Dividends per share (DPS) $ 1.000 $ 1.000 Book value per share (BVPS) $ 16.313 $ 7.500 Market value (price) per share (MVPS) $ 15.700 $ 10.500 Spread the balance sheets of Lake of Egypt Marina, Inc., for 2012 and 2011. (Be sure to list the assets and liabilities in order of their liquidity. Input all amounts as positive values. Round your answers to 2 decimal places.) LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 Assets Current Assets % % Total Fixed assets: .
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Recommended
Find the followingBasic earnings power M Ch 3a Problems Dezto.mh.pdf
Find the following:
Basic earnings power M Ch 3a Problems Dezto.mheducation.com/hm.tpx?--
0.02562706850698704-1455040771836 a Home | Chegg.com value 50.00 points Use the
following financial statements for Lake of Egypt Marina, Inc LAKE OF EGYPT MARINA, INC
Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011
Assets Current assets Liabilities and Equity Current liabilities Cash and marketable securities
Accounts receivable Inventory $45 $36 32 148 40 223 Accrued wages and taxes Accounts
payable Notes payable $40 20 24 32 35 30 Total Long term debt Stockholders\' equity Total $
308 $ 216 $105 $ 76 $ 67 200 Fixed assets $ 255 Gross plant and equipment Less: Depreciation
200 40 Preferred stock (4 million shares) $ 4 16 Common stock and paid in surplus 16 (16
million shares) Retained earnings $167$ 160 308 Net plant and equipment Other long term assets
104 25 24 $ 192 184 $ 500 400 Total Total $ 328 124 Total assets Total liabilities and equity $
500 400 LAKE OF EGYPT MARINA, INC Income Statement for Years Ending December 31,
2012 and 2011 (in millions of dollars) 2012 2011 Net sales (all credit) Less: Cost of goods sold $
800 600 192 320 ross profits $ 480 $408 [D 11:03 AM 2/9/2016 Start Search the web and
Windows Desktop
Solution
Basic Earingns Power = Earning Before Interest & Taxes / Total Assets
------>> For 2012: $368 / $500 = 0.736 or 73.6%
------>> For 2011: $342 / $400 = 0.855 0r 85.5%.
Find the followingAverage payment periodFixed assest turnover.pdf
Find the following:
Average payment period
Fixed assest turnover
Sales to working capital
Total assest turnover
Capital intensity
Debt ratio M Ch 3a Problems Dezto.mheducation.com/hm.tpx?--0.02562706850698704-
1455040771836 a Home | Chegg.com value 50.00 points Use the following financial statements
for Lake of Egypt Marina, Inc LAKE OF EGYPT MARINA, INC Balance Sheet as of December
31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Current assets Liabilities
and Equity Current liabilities Cash and marketable securities Accounts receivable Inventory $45
$36 32 148 40 223 Accrued wages and taxes Accounts payable Notes payable $40 20 24 32 35
30 Total Long term debt Stockholders\' equity Total $ 308 $ 216 $105 $ 76 $ 67 200 Fixed assets
$ 255 Gross plant and equipment Less: Depreciation 200 40 Preferred stock (4 million shares) $
4 16 Common stock and paid in surplus 16 (16 million shares) Retained earnings $167$ 160 308
Net plant and equipment Other long term assets 104 25 24 $ 192 184 $ 500 400 Total Total $
328 124 Total assets Total liabilities and equity $ 500 400 LAKE OF EGYPT MARINA, INC
Income Statement for Years Ending December 31, 2012 and 2011 (in millions of dollars) 2012
2011 Net sales (all credit) Less: Cost of goods sold $ 800 600 192 320 ross profits $ 480 $408 [D
11:03 AM 2/9/2016 Start Search the web and Windows Desktop
Solution
All values caluclated for 2012:
---------------------------------
Average payment period=(account payable*365)/COGS
=(35*365)/320= 39.92 days
Fixed assest turnover= sales/Fixed assets
=(800/192)=4.17
Sales to working capital= sales/(Working capital)
working capital= current assets-current liabilty
=800/(308-105)=3.94
Total assest turnover= sales/assets
=800/500=1.6
Capital intensity= assets/sales
=500/800=.625
Debt ratio= debt/Assets
=(500-328)/500=.344.
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Print by: RANDALL LUCAS
ACC/ 291 - 40918999 I Week Four Assignment
E11-16
Before preparing financial statements for the current year, the chief accountant for Springer Company
discovered the following errors in the accounts.
1. The declaration and payment of $50,000 cash dividend was recorded as a debit to Interest
Expense $50,000 and a credit to Cash $50,000.
2. A 10% stock dividend (1,000 shares) was declared on the $10 par value stock when the market
value per share was $16. The only entry made was: Retained Earnings (Dr.) $10,000 and
Dividend Payable (Cr.) $10,000. The shares have not been issued.
3. A 4-for-i stock split involving the issue of 400,000 shares of $5 par value common stock for
100,000 shares of $20 par value common stock was recorded as a debit to Retained Earnings
$2,000,000 and a credit to Common Stock $2,000,000.
Prepare the correcting entries at December 31. (For multiple debit/credit entries, list amounts
from largest to smallest e.g. 10, 5, 3, 2.)
CCoUflt/ DescriDtion Debit’ Credit
Ii. Dec.
bi I I I
I I II
12. Dec.
L31 I____________________________
I i___________________________________________________________________
I I I I
I I Ii
13. Dec.
bi I I I
I Ii 1.1 I I
Question Attempts: 0 of 3 used
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ACC/291. - 40918999 / Week Five Assignment
P13-9A
Condensed financial data of Arma Inc. follow.
ARMA INC.
Comparative Balance Sheets
December 31
Assets 2011 2010
Cash $90,800 $48,400
Accounts receivable 92,800 33,000
Inventories 112,500 102,850
Prepaid expenses 28,400 26,000
Investments 138,000 114,000
Plant assets 270,000 242,500
Accumulated depreciation (50,000) (52,000)
Total $682,500 $514,750
Liabilities and Stockholders’ Eauitv
Accounts payable $112,000 $67,300
Accrued expenses payable 16,500 17,000
Bonds payable 110,000 150,000
Common stock 220,000 175,000
Retained earnings 224,000 105,450
Total $682,500 $514,750
ARMA INC.
Income Statement
For the Year Ended December 31, 2011
Sales $392,780
Less:
Cost of goods sold $135,460
Operating expenses, excluding depreciation 12,410
Depreciation expense 46,500
Income taxes 27,280
Interest expense 4,730
Loss on sale of plant assets 7,500 233,880
Net income $158,900
Additional information:
1. New plant assets costing $85,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $57,500 were sold for $1,500 cash.
3. Bonds matured and were paid off at face value for cash.
4. A cash dividend of $40,350 was declared and paid during the year.
Complete the statement of cash flows using the indirect method. (List amounts from largest
I of 3
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ASSETS LIABILITIES Cash $10,000 Accounts payable $12,000 Accounts re.pdf
ASSETS LIABILITIES Cash $10,000 Accounts payable $12,000 Accounts receivable 100,000
Notes payable 50,000 Inventory Total current liabilities Total current assets $220,000 Long-term
debt Gross PP&E 500,000 Total Liabilities $190,000 Less accumulated depreciation Net PP&E
$375,000 EQUITY Total Assets Common stock ($1 par; 100,000 shares) Paid-in capital
Retained earnings 150,000 Total stockholders equity Total Liabilities and Equity Reminder:
A=L+E
ASSETSLIABILITIESCash$10,000 Accounts payable$12,000 Accounts
receivable100,000Notes payable50,000InventoryTotal current liabilitiesTotal current
assets$220,000 Long-term debtGross PP&E500,000Total Liabilities$190,000 Less accumulated
depreciationNet PP&E$375,000 EQUITYTotal AssetsCommon stock ($1 par; 100,000
shares)Paid-in capitalRetained earnings150,000Total stockholders equityTotal Liabilities and
EquityReminder: A=L+E.
The balance sheet and income statement shown below are for Kryloc In.docx
The balance sheet and income statement shown below are for Kryloc Inc. You will find that the firm has no amortization charges. It also does not lease any assets and none of its debt must be retired during the next 5 years. The notes payable will be rolled over.
Balance Sheet (Millions of $)
Assets 2010
Cash and securities $ 2,500
Accounts receivable 11,500
Inventories 16,000
Total current assets $30,000
Net plant and equipment $20,000
Net plant and equipment $20,000 Total assets $50,000
Liabilities and Equity
Accounts payable $9,500
Notes payable 7,000
Accruals 5,500
Total current liabilities $22,000
Long-term bonds $15,000
Total debt $37,000
Common stock $2,000
Retained earnings 11,000
Total common equity $13,000
Total liabilities and equity $50,000
Income Statement (Millions of $) 2010
Net sales $87,500
Operating costs except depreciation 81,813
Depreciation 1,531
Earnings bef interest and taxes (EBIT) $4,156
Less interest 1,375
Earnings before taxes (EBT) $2,781
Taxes 973
Net income $1,808
Other data:
Shares outstanding (millions) 500.00
Common dividends $632.73
Int rate on notes payable & L-T bonds 6.25%
Federal plus state income tax rate 35%
Year-end stock price $43.39
Assignment Questions
i.What is the firm's current ratio?
ii.What is the firm's quick ratio?
iii.What is the firm's “days sales outstanding” (DSO)? Assume a 365-day year for this calculation.
iv.What is the firm's total assets turnover?
v.What is the firm's inventory turnover ratio?
vi.What is the firm's TIE?
vii.What is the firm's debt/assets ratio?
viii.What is the firm's ROA?
ix.What is the firm's ROE?
x.What is the firm's dividends per share?
xi.What is the firm's EPS?
xii.What is the firm's P/E ratio?
xiii.What is the firm's book value per share?
.
Recommended
Find the followingBasic earnings power M Ch 3a Problems Dezto.mh.pdf
Find the following:
Basic earnings power M Ch 3a Problems Dezto.mheducation.com/hm.tpx?--
0.02562706850698704-1455040771836 a Home | Chegg.com value 50.00 points Use the
following financial statements for Lake of Egypt Marina, Inc LAKE OF EGYPT MARINA, INC
Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011
Assets Current assets Liabilities and Equity Current liabilities Cash and marketable securities
Accounts receivable Inventory $45 $36 32 148 40 223 Accrued wages and taxes Accounts
payable Notes payable $40 20 24 32 35 30 Total Long term debt Stockholders\' equity Total $
308 $ 216 $105 $ 76 $ 67 200 Fixed assets $ 255 Gross plant and equipment Less: Depreciation
200 40 Preferred stock (4 million shares) $ 4 16 Common stock and paid in surplus 16 (16
million shares) Retained earnings $167$ 160 308 Net plant and equipment Other long term assets
104 25 24 $ 192 184 $ 500 400 Total Total $ 328 124 Total assets Total liabilities and equity $
500 400 LAKE OF EGYPT MARINA, INC Income Statement for Years Ending December 31,
2012 and 2011 (in millions of dollars) 2012 2011 Net sales (all credit) Less: Cost of goods sold $
800 600 192 320 ross profits $ 480 $408 [D 11:03 AM 2/9/2016 Start Search the web and
Windows Desktop
Solution
Basic Earingns Power = Earning Before Interest & Taxes / Total Assets
------>> For 2012: $368 / $500 = 0.736 or 73.6%
------>> For 2011: $342 / $400 = 0.855 0r 85.5%.
Find the followingAverage payment periodFixed assest turnover.pdf
Find the following:
Average payment period
Fixed assest turnover
Sales to working capital
Total assest turnover
Capital intensity
Debt ratio M Ch 3a Problems Dezto.mheducation.com/hm.tpx?--0.02562706850698704-
1455040771836 a Home | Chegg.com value 50.00 points Use the following financial statements
for Lake of Egypt Marina, Inc LAKE OF EGYPT MARINA, INC Balance Sheet as of December
31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Current assets Liabilities
and Equity Current liabilities Cash and marketable securities Accounts receivable Inventory $45
$36 32 148 40 223 Accrued wages and taxes Accounts payable Notes payable $40 20 24 32 35
30 Total Long term debt Stockholders\' equity Total $ 308 $ 216 $105 $ 76 $ 67 200 Fixed assets
$ 255 Gross plant and equipment Less: Depreciation 200 40 Preferred stock (4 million shares) $
4 16 Common stock and paid in surplus 16 (16 million shares) Retained earnings $167$ 160 308
Net plant and equipment Other long term assets 104 25 24 $ 192 184 $ 500 400 Total Total $
328 124 Total assets Total liabilities and equity $ 500 400 LAKE OF EGYPT MARINA, INC
Income Statement for Years Ending December 31, 2012 and 2011 (in millions of dollars) 2012
2011 Net sales (all credit) Less: Cost of goods sold $ 800 600 192 320 ross profits $ 480 $408 [D
11:03 AM 2/9/2016 Start Search the web and Windows Desktop
Solution
All values caluclated for 2012:
---------------------------------
Average payment period=(account payable*365)/COGS
=(35*365)/320= 39.92 days
Fixed assest turnover= sales/Fixed assets
=(800/192)=4.17
Sales to working capital= sales/(Working capital)
working capital= current assets-current liabilty
=800/(308-105)=3.94
Total assest turnover= sales/assets
=800/500=1.6
Capital intensity= assets/sales
=500/800=.625
Debt ratio= debt/Assets
=(500-328)/500=.344.
Eli- 16 httpedugen.wiley.comledugensharedJassignmentltest.docx
Eli- 16 http://edugen.wiley.comledugen/sharedJassignmentltest/qprint.uni
Print by: RANDALL LUCAS
ACC/ 291 - 40918999 I Week Four Assignment
E11-16
Before preparing financial statements for the current year, the chief accountant for Springer Company
discovered the following errors in the accounts.
1. The declaration and payment of $50,000 cash dividend was recorded as a debit to Interest
Expense $50,000 and a credit to Cash $50,000.
2. A 10% stock dividend (1,000 shares) was declared on the $10 par value stock when the market
value per share was $16. The only entry made was: Retained Earnings (Dr.) $10,000 and
Dividend Payable (Cr.) $10,000. The shares have not been issued.
3. A 4-for-i stock split involving the issue of 400,000 shares of $5 par value common stock for
100,000 shares of $20 par value common stock was recorded as a debit to Retained Earnings
$2,000,000 and a credit to Common Stock $2,000,000.
Prepare the correcting entries at December 31. (For multiple debit/credit entries, list amounts
from largest to smallest e.g. 10, 5, 3, 2.)
CCoUflt/ DescriDtion Debit’ Credit
Ii. Dec.
bi I I I
I I II
12. Dec.
L31 I____________________________
I i___________________________________________________________________
I I I I
I I Ii
13. Dec.
bi I I I
I Ii 1.1 I I
Question Attempts: 0 of 3 used
Copyright © 2000-2013 by John Wiley & Sons, Inc. or related companies. All rights reserved.
1 of 1 1/18/13 1:57 PM
P1 3-9A http://edugen.wiley.comledugen/shared/assignmentltestlqprint.uni
Print by: RANDALL LUCAS
ACC/291. - 40918999 / Week Five Assignment
P13-9A
Condensed financial data of Arma Inc. follow.
ARMA INC.
Comparative Balance Sheets
December 31
Assets 2011 2010
Cash $90,800 $48,400
Accounts receivable 92,800 33,000
Inventories 112,500 102,850
Prepaid expenses 28,400 26,000
Investments 138,000 114,000
Plant assets 270,000 242,500
Accumulated depreciation (50,000) (52,000)
Total $682,500 $514,750
Liabilities and Stockholders’ Eauitv
Accounts payable $112,000 $67,300
Accrued expenses payable 16,500 17,000
Bonds payable 110,000 150,000
Common stock 220,000 175,000
Retained earnings 224,000 105,450
Total $682,500 $514,750
ARMA INC.
Income Statement
For the Year Ended December 31, 2011
Sales $392,780
Less:
Cost of goods sold $135,460
Operating expenses, excluding depreciation 12,410
Depreciation expense 46,500
Income taxes 27,280
Interest expense 4,730
Loss on sale of plant assets 7,500 233,880
Net income $158,900
Additional information:
1. New plant assets costing $85,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $57,500 were sold for $1,500 cash.
3. Bonds matured and were paid off at face value for cash.
4. A cash dividend of $40,350 was declared and paid during the year.
Complete the statement of cash flows using the indirect method. (List amounts from largest
I of 3
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iley.comledugenfshared/assignment/restlqprint.uni
positive ...
ASSETS LIABILITIES Cash $10,000 Accounts payable $12,000 Accounts re.pdf
ASSETS LIABILITIES Cash $10,000 Accounts payable $12,000 Accounts receivable 100,000
Notes payable 50,000 Inventory Total current liabilities Total current assets $220,000 Long-term
debt Gross PP&E 500,000 Total Liabilities $190,000 Less accumulated depreciation Net PP&E
$375,000 EQUITY Total Assets Common stock ($1 par; 100,000 shares) Paid-in capital
Retained earnings 150,000 Total stockholders equity Total Liabilities and Equity Reminder:
A=L+E
ASSETSLIABILITIESCash$10,000 Accounts payable$12,000 Accounts
receivable100,000Notes payable50,000InventoryTotal current liabilitiesTotal current
assets$220,000 Long-term debtGross PP&E500,000Total Liabilities$190,000 Less accumulated
depreciationNet PP&E$375,000 EQUITYTotal AssetsCommon stock ($1 par; 100,000
shares)Paid-in capitalRetained earnings150,000Total stockholders equityTotal Liabilities and
EquityReminder: A=L+E.
The balance sheet and income statement shown below are for Kryloc In.docx
The balance sheet and income statement shown below are for Kryloc Inc. You will find that the firm has no amortization charges. It also does not lease any assets and none of its debt must be retired during the next 5 years. The notes payable will be rolled over.
Balance Sheet (Millions of $)
Assets 2010
Cash and securities $ 2,500
Accounts receivable 11,500
Inventories 16,000
Total current assets $30,000
Net plant and equipment $20,000
Net plant and equipment $20,000 Total assets $50,000
Liabilities and Equity
Accounts payable $9,500
Notes payable 7,000
Accruals 5,500
Total current liabilities $22,000
Long-term bonds $15,000
Total debt $37,000
Common stock $2,000
Retained earnings 11,000
Total common equity $13,000
Total liabilities and equity $50,000
Income Statement (Millions of $) 2010
Net sales $87,500
Operating costs except depreciation 81,813
Depreciation 1,531
Earnings bef interest and taxes (EBIT) $4,156
Less interest 1,375
Earnings before taxes (EBT) $2,781
Taxes 973
Net income $1,808
Other data:
Shares outstanding (millions) 500.00
Common dividends $632.73
Int rate on notes payable & L-T bonds 6.25%
Federal plus state income tax rate 35%
Year-end stock price $43.39
Assignment Questions
i.What is the firm's current ratio?
ii.What is the firm's quick ratio?
iii.What is the firm's “days sales outstanding” (DSO)? Assume a 365-day year for this calculation.
iv.What is the firm's total assets turnover?
v.What is the firm's inventory turnover ratio?
vi.What is the firm's TIE?
vii.What is the firm's debt/assets ratio?
viii.What is the firm's ROA?
ix.What is the firm's ROE?
x.What is the firm's dividends per share?
xi.What is the firm's EPS?
xii.What is the firm's P/E ratio?
xiii.What is the firm's book value per share?
.
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
Appendix BOrganizational CharMinitrexVP Marketing(Jon .docx
Appendix B
Organizational Char
Minitrex
VP Marketing
(Jon Bettman)
Director Sales
(Georges Degas)
VP Insurance
(Harold Blumfen)
VP Financing
(Mariella Hopkins)
CFO
Director IT
(Denny Khan)
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Avera.
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.
In.docx
Income Statement
Balance Sheet
Next Year
This Year
Next Year
Revenue
$5,000
Total assets
$1,000
$2,000
Operating expenses
4,000
Liabilities & equity:
EBIT
1,000
Current liabilities
$ 576
$ 200
Interest (8%)
?
Long-term debt
100
?
EBT
?
Equity
324
?
Taxes(40%)
?
Earnings after tax
?
Total liabilities
& equity
$1,000
$2,000
The firm pays 8% interest on all of its debt and is subject to a 40% tax rate. Complete the plan.
1. Emperor Corporation's financial statements for the last year are shown below. The firm paid a $1,000 dividend to its stockholders during the year. There were no sales of new stock.
Balance Sheets
ASSETS
Ending
Beginning
Income Statement
Cash
$ 2,000
$ 1,600
Sales
$100,000
Accounts receivable
12,000
5,200
COGS
80,000
Inventory
14,000
15,600
Gross Margin
$ 20,000
Current Assets
$28,000
$22,400
Cash Expenses
$ 8,000
Gross Fixed assets
$27,000
$20,000
Depreciation
1,600
Accumulated depreciation
(16,000
)
(14,400
)
EBIT
$ 10,400
Net fixed assets
11,000
5,600
Interest
800
Total assets
$39,000
$28,000
EBT
$ 9,600
LIABILITIES
Tax
2,600
Accounts payable
$ 3,000
$ 2,500
Net Income
$ 7,000
Accruals
1,000
1,500
Current Liabilities
$ 4,000
$ 4,000
Long term Debt
10,000
5,000
Equity
25,000
19,000
Total liabilities & equity
$39,000
$28,000
Develop Emperor's Statement of Cash Flows.
.
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docx
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 70,000
$ 65,000
Short-term investments
52,000
40,000
Receivables (net)
98,000
80,000
Inventory
125,000
135,000
Prepaid expenses
29,000
23,000
Land
130,000
130,000
Building and equipment (net)
168,000
175,000
$672,000
$648,000
Liabilities and Stockholders’ Equity
Notes payable
$100,000
100,000
Accounts payable
48,000
42,000
Accrued liabilities
44,000
40,000
Bonds payable, due 2016
150,000
150,000
Common stock, $10 par
200,000
200,000
Retained earnings
130,000
116,000
$672,000
$648,000
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$858,000
$798,000
Cost of goods sold
611,000
575,000
Gross profit
247,000
223,000
Operating expenses
204,500
181,000
Net income
$ 42,500
$ 42,000
Additional information:
1.
Inventory at the beginning of 2012 was $118,000.
2.
Total assets at the beginning of 2012 were $632,000.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $88,000.
(a)
Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013.
(Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
Acid-test
Receivables turnover
Inventory turnover
PROFITABILITY
Profit margin
Asset turnover
Return on assets
Earnings per share
$
(b)
Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $50,000. Total assets on December 31, 2014, were $700,000.
Situation
Ratio
(1)
18,000 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $9 on December 31, 2013, and $12.50 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
Debt to total assets
Price-earnings ratio
Click if you would like to Show Work for this question:
Open Show Work
.
At December 31- 2021- the financial statements of Cavanni Casting Corp.docx
At December 31, 2021, the financial statements of Cavanni Casting Corporation included the following:
Net income for 2021 $500 million
Common stock, $1 par:
Shares outstanding on January 1 150 million shares
Shares retired for cash on February 1 24 million shares
Shares sold for cash on September 1 18 million shares
2-for-1 split on July 23
Preferred stock, 10%, $70 par, cumulative, nonconvertible $ 70 million
Preferred stock, 8%, $50 par, cumulative, convertible into 4 million shares of common stock $100 million
Incentive stock options outstanding, fully vested, for 4 million shares of common stock; the exercise price is $15
Bonds payable, 10%, convertible into 20 million shares of common stock $200 million
Additional data:
The market price of the common stock averaged $20 during 2021.
The convertible preferred stock and the bonds payable had been issued at par in 2019. The tax rate for the year was 25%.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2021 (round to two decimal places).
($ amounts in millions, except per share amounts)
.
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.
Exercise 13-13The condensed financial statements of Elliott Comp.docx
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Average collection period.
days
(d)
Inventory turnover.
times
(e)
Days in inventory.
days
(f)
Cash debt coverage ratio.
times
(g)
Current cash debt coverage ratio.
times
(h)
Free cash flow.
...
Learning ResourcesRequired ReadingsToseland, R. W., & Ri.docx
Learning Resources
Required Readings
Toseland, R. W., & Rivas, R. F. (2017).
An introduction to group work practice
(8th ed.). Boston, MA: Pearson.
Chapter 11, “Task Groups: Foundation Methods” (pp. 336-363)
Chapter 12, “Task Groups: Specialized Methods” (pp. 364–395)
Van Velsor, P. (2009). Task groups in the school setting: Promoting children’s social and emotional learning.
Journal for Specialists in Group Work
,
34
(3), 276–292.
Document:
Group Wiki Project Guidelines (PDF)
Recommended Resources
Holosko, M. J., Dulmus, C. N., & Sowers, K. M. (2013). Social work practice with individuals and families: Evidence-informed assessments and interventions. Hoboken, NJ: John Wiley & Sons, Inc.
Chapter 1 “Assessment of Children”
Chapter 2 “Intervention with Children”
Discussion: Task Groups
Group work is a commonly used method within school settings. Because peer interaction is important in the emotional and social development of children, the task group can serve as a wonderful therapeutic setting and tool; however, many factors should be considered when implementing this type of intervention.
For this Discussion, read the Van Velsor (2009) article.
By Day 3
Post
your understanding of task groups as an intervention for children. Use the model for effective problem solving to compare and contrast (how to identify the problem, develop goals, collect data). How does this model differ from a traditional treatment group? What are the advantages and possible disadvantages of this model? Describe how you might use this model for adults. What populations would most benefit from this model?
.
LeamosEscribamos Completa el párrafo con las formas correctas de lo.docx
Leamos/Escribamos Completa el párrafo con las formas correctas de los verbos en paréntesis. Usa el pretérito o el imperfecto.
Yo __1__ (criarse) en el campo, pero mi familia __2__
(mudarse) a la ciudad cuando yo tenía doce años. Hablábamos
aymara en mi pueblo, y mi mamá no __3__ (expresarse) bien en
español. Mis hermanos y yo __4__ (comunicarse) sin problema
porque habíamos estudiado español en el colegio. Con dificultad
nosotros __5__ (acostumbrarse) al estilo de vida.Yo __6__
(preocuparse) por todo. No me __7__ (gustar) el ruido de los
carros. Pero poco a poco, nostros __8__ (asimilar) el modo de
ser de la gente de la cuidad.Yo __9__ (graduarse) de la
universidad hace poco, mi hermano mayor ahora es arquitecto, y
mi hermano menor __10__ (casarse) el mes pasado.
.
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Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Avera.
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.
In.docx
Income Statement
Balance Sheet
Next Year
This Year
Next Year
Revenue
$5,000
Total assets
$1,000
$2,000
Operating expenses
4,000
Liabilities & equity:
EBIT
1,000
Current liabilities
$ 576
$ 200
Interest (8%)
?
Long-term debt
100
?
EBT
?
Equity
324
?
Taxes(40%)
?
Earnings after tax
?
Total liabilities
& equity
$1,000
$2,000
The firm pays 8% interest on all of its debt and is subject to a 40% tax rate. Complete the plan.
1. Emperor Corporation's financial statements for the last year are shown below. The firm paid a $1,000 dividend to its stockholders during the year. There were no sales of new stock.
Balance Sheets
ASSETS
Ending
Beginning
Income Statement
Cash
$ 2,000
$ 1,600
Sales
$100,000
Accounts receivable
12,000
5,200
COGS
80,000
Inventory
14,000
15,600
Gross Margin
$ 20,000
Current Assets
$28,000
$22,400
Cash Expenses
$ 8,000
Gross Fixed assets
$27,000
$20,000
Depreciation
1,600
Accumulated depreciation
(16,000
)
(14,400
)
EBIT
$ 10,400
Net fixed assets
11,000
5,600
Interest
800
Total assets
$39,000
$28,000
EBT
$ 9,600
LIABILITIES
Tax
2,600
Accounts payable
$ 3,000
$ 2,500
Net Income
$ 7,000
Accruals
1,000
1,500
Current Liabilities
$ 4,000
$ 4,000
Long term Debt
10,000
5,000
Equity
25,000
19,000
Total liabilities & equity
$39,000
$28,000
Develop Emperor's Statement of Cash Flows.
.
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docx
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 70,000
$ 65,000
Short-term investments
52,000
40,000
Receivables (net)
98,000
80,000
Inventory
125,000
135,000
Prepaid expenses
29,000
23,000
Land
130,000
130,000
Building and equipment (net)
168,000
175,000
$672,000
$648,000
Liabilities and Stockholders’ Equity
Notes payable
$100,000
100,000
Accounts payable
48,000
42,000
Accrued liabilities
44,000
40,000
Bonds payable, due 2016
150,000
150,000
Common stock, $10 par
200,000
200,000
Retained earnings
130,000
116,000
$672,000
$648,000
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$858,000
$798,000
Cost of goods sold
611,000
575,000
Gross profit
247,000
223,000
Operating expenses
204,500
181,000
Net income
$ 42,500
$ 42,000
Additional information:
1.
Inventory at the beginning of 2012 was $118,000.
2.
Total assets at the beginning of 2012 were $632,000.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $88,000.
(a)
Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013.
(Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
Acid-test
Receivables turnover
Inventory turnover
PROFITABILITY
Profit margin
Asset turnover
Return on assets
Earnings per share
$
(b)
Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $50,000. Total assets on December 31, 2014, were $700,000.
Situation
Ratio
(1)
18,000 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $9 on December 31, 2013, and $12.50 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
Debt to total assets
Price-earnings ratio
Click if you would like to Show Work for this question:
Open Show Work
.
At December 31- 2021- the financial statements of Cavanni Casting Corp.docx
At December 31, 2021, the financial statements of Cavanni Casting Corporation included the following:
Net income for 2021 $500 million
Common stock, $1 par:
Shares outstanding on January 1 150 million shares
Shares retired for cash on February 1 24 million shares
Shares sold for cash on September 1 18 million shares
2-for-1 split on July 23
Preferred stock, 10%, $70 par, cumulative, nonconvertible $ 70 million
Preferred stock, 8%, $50 par, cumulative, convertible into 4 million shares of common stock $100 million
Incentive stock options outstanding, fully vested, for 4 million shares of common stock; the exercise price is $15
Bonds payable, 10%, convertible into 20 million shares of common stock $200 million
Additional data:
The market price of the common stock averaged $20 during 2021.
The convertible preferred stock and the bonds payable had been issued at par in 2019. The tax rate for the year was 25%.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2021 (round to two decimal places).
($ amounts in millions, except per share amounts)
.
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.
Exercise 13-13The condensed financial statements of Elliott Comp.docx
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Average collection period.
days
(d)
Inventory turnover.
times
(e)
Days in inventory.
days
(f)
Cash debt coverage ratio.
times
(g)
Current cash debt coverage ratio.
times
(h)
Free cash flow.
...
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Leadership varies widely by culture and personality. An internationa.docx
Leadership varies widely by culture and personality. An international organization with locations in several countries must balance the local customs and cultures with those of the primary culture of the organizations’ headquarters. Using the Germany as the headquarters of an international Internet retail organization serving the USA and Canada research and discuss the differences that leaders would have to navigate in approach and adapting to different standards of behavior and culture within the countries.
.
Leadership is the ability to influence people toward the attainment .docx
Leadership is the ability to influence people toward the attainment of goals. The changing of the environment in which most organizations are operating has significantly influenced leadership systems in recent years, and has contributed to a shift in how we think about and practice leadership.
Analyze how leadership is changing in today’s organizations, including Level 5 leadership, servant leadership, and transformational leadership. Please discuss in 200-250 words.
.
Lawday. Court of Brightwaltham holden on Monday next after Ascension.docx
Lawday. Court of Brightwaltham holden on Monday next after Ascension Day in the twenty-first year of King Edward (A.D. 1293).
The tithingman of Conholt with his whole tithing present that all is well save that William of Mescombe has stopped up a . . . [the word is indecipherable in the manuscript, but Maitland thinks it is a watercourse] wrongfully. Therefore he is in mercy (12 d.). Also they say that Edith of Upton has cut down trees in the enclosure and the seisin of the lord contrary to a prohibition, and they say that she has no property and has fled into foreign parts, (amercement, 12 d.).
Adam Scot is made tithingman and sworn to a faithful exercise of his office.
John son of Hugh Poleyn enters on the land which Randolph Tailor held saving the right of everyone and gives for entry-money 4 marks and will pay 1 mark at Michaelmas in the twenty-second year of King Edward, 1 mark at Christmas next following, 1 mark at Easter, and 1 mark at Michaelmas next following, and for the due making of all these payments the said Hugh Poleyn finds sureties, to wit, Adam Scot, John Gosselyn, William of Mescombe, John Gyote. And because the said John is a minor the wardship of the said lands and tenements is delivered to his father the said Hugh Poleyn until he be of full age, on the terms of his performing the services due and accustomed for the same. Also there is granted to the said Hugh the crop now growing on the sown land, and the heriot due on this entry, for a half-mark payable at Michaelmas next on the security of the above-named sureties.
(a) Hugh Poleyn gives the lord 2 s. that he may have the judgment of the court as to his right in a certain tenement in Upton which J. son of Randolph Tailor claims as his right. And upon this the whole township of Brightwaltham sworn along with the whole township of Conholt say upon their oath that Hugh Poleyn has better right to hold the said tenement than anyone else has, and that he is the next heir by right of blood.
(The Conholt case as to the tenure of Edith wife of Robert Tailor according to the inquest made by the jurors. One Alan Poleyn held a tenement in Conholt upon servile terms and had a wife Cristina by name. The said Alan died when Richard was the farmer [of the manor]. Thereupon came the friends of the said Cristina and procured for her a part of the land by way of dower making a false suggestion and as though [the land] were of free condition, and this was to the great prejudice of the lord Abbot. Upon this came one Richard Aleyn and espoused the said Cristina and begot upon her one Randolph. Then Richard died, and the said Cristina of her own motion enfeoffed Randolph her son of the said tenement. Then Cristina died, and Randolph being in seisin of the said tenement espoused Edith the present demanding; and after Randolph's death Edith married Robert Tailor. Now you can see and give your counsel about the right of the said Edith. And know this, that if I had at hand the court-rolls of the.
law43665_fm_i-xx i 010719 1032 AMStakeholders, Eth.docx
law43665_fm_i-xx i 01/07/19 10:32 AM
Stakeholders, Ethics, Public Policy Sixteenth Edition
Anne T. Lawrence
San José State University
James Weber
Duquesne University
Business and
Society
Final PDF to printer
law43665_fm_i-xx ii 01/07/19 10:32 AM
BUSINESS AND SOCIETY: STAKEHOLDERS, ETHICS, PUBLIC POLICY, SIXTEENTH EDITION
Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2020 by McGraw-Hill
Education. All rights reserved. Printed in the United States of America. Previous editions © 2017, 2014, and
2011. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a
database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not
limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.
Some ancillaries, including electronic and print components, may not be available to customers outside the
United States.
This book is printed on acid-free paper.
1 2 3 4 5 6 7 8 9 LWI 21 20 19
ISBN 978-1-260-04366-2 (bound edition)
MHID 1-260-04366-5 (bound edition)
ISBN 978-1-260-14049-1 (loose-leaf edition)
MHID 1-260-14049-0 (loose-leaf edition)
Portfolio Manager: Laura Hurst Spell
Marketing Manager: Lisa Granger
Content Project Managers: Jeni McAtee, Katie Reuter
Buyer: Susan K. Culbertson
Design: Jessica Cuevas
Content Licensing Specialist: Traci Vaske
Cover Image: ©View Apart/Shutterstock
Compositor: SPi Global
All credits appearing on page or at the end of the book are considered to be an extension of the copyright page.
Library of Congress Cataloging-in-Publication Data
Names: Lawrence, Anne T., author. | Weber, James (Business ethics professor),
author.
Title: Business and society: stakeholders, ethics, public policy / Anne T.
Lawrence, San Jose State University, James Weber, Duquesne University.
Description: Sixteenth edition. | New York, NY : McGraw-Hill Education, [2020]
Identifiers: LCCN 2018052591 | ISBN 9781260043662 (alk. paper) | ISBN
1260043665 (bound edition) | ISBN 9781260140491 (loose-leaf edition) |
ISBN 1260140490 (loose-leaf edition)
Subjects: LCSH: Social responsibility of business.
Classification: LCC HD60 .F72 2020 | DDC 658.4/08—dc23 LC record available at https://lccn.loc
.gov/2018052591
The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website does
not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education does not
guarantee the accuracy of the information presented at these sites.
mheducation.com/highered
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iii
law43665_fm_i-xx iii 01/07/19 10:32 AM
Anne T. Lawrence San José State University
Anne T. Lawrence is professor of management emerita at San José State University. She
holds a Ph.D. from the University of California, Berkeley, and completed two years of post-
doctoral study at Stanford University. Her a.
Leaders face many hurdles when leading in multiple countries. There .docx
Leaders face many hurdles when leading in multiple countries. There are several examples of disastrous public relations fallout that have occurred when companies have outsourced work to other nations. When determining where to move offshore as a company, the leaders of the organization must make several decisions.
Using course theories and current multinational organizations that have locations in several countries, convey your own thoughts on the subject and address the following:
What leadership considerations must an organization weigh in selecting another country to open a location such as a manufacturing plant?
How might leaders need to change leadership styles to manage multinational locations?
What public relations issues might arise from such a decision?
How would you recommend such a company to demonstrate their social responsibility to their headquarters country as well as any offshore locations?
.
Last year Angelina Jolie had a double mastectomy because of re.docx
Last year Angelina Jolie had a double mastectomy because of results from a genetic test. Describe the science of the test and the reason for her decision. Do you agree with her choice, and do you agree with her decision to go public about her choice?
1 page essay with at least 1 reference
.
Leaders face many hurdles when leading in multiple countries. Ther.docx
Leaders face many hurdles when leading in multiple countries. There are several examples of disastrous public relations fallout that have occurred when companies have outsourced work to other nations. When determining where to move offshore as a company, the leaders of the organization must make several decisions.
Using course theories and current multinational organizations that have locations in several countries, convey your own thoughts on the subject and address the following:
What leadership considerations must an organization weigh in selecting another country to open a location such as a manufacturing plant?
How might leaders need to change leadership styles to manage multinational locations?
What public relations issues might arise from such a decision?
How would you recommend such a company to demonstrate their social responsibility to their headquarters country as well as any offshore locations?
Please submit your assignment.
This assignment will be assessed using the rubric provided
here
.
For assistance with your assignment, please use your text, Web resources, and all course materials.
.
Leaders today must be able to create a compelling vision for the org.docx
Leaders today must be able to create a compelling vision for the organization. They also must be able to create an aligned strategy and then execute it. Visions have two parts, the envisioned future and the core values that support that vision of the future. The ability to create a compelling vision is the primary distinction between leadership and management. Leaders need to create a vision that will frame the decisions and behavior of the organization and keep it focused on the future while also delivering on the short-term goals.
Respond to the following:
Assess your current leaders. These leaders could be those at your current or previous organizations or your educational institutions.
How effective are they at creating and communicating the organization vision?
How effective are they at developing a strategy and communicating it throughout the organization?
How effective are they at upholding the values of the organization?
Support your positions with specific examples or by citing credible sources.
.
Law enforcement professionals and investigators use digital fore.docx
Law enforcement professionals and investigators use digital forensic methods to solve crimes every day. Locate one current news article that explains how investigators may have used these techniques to solve a crime. Explain the crime that was solved, and the methods used to determine how the crime was committed. Some examples of crimes solved may include locating missing children, finding criminals who have fled the scene of a crime, or unsolved crimes from the past that have been solved due to the use of new techniques (such as DNA testing).
Your written assignment should be 3-4 paragraphs in your own words and should include a reference citation for your source of information.
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LAW and Economics 4 questionsLaw And EconomicsTextsCoote.docx
LAW and Economics 4 questions
Law And Economics
Texts
Cooter, Robert and Thomas Ulen. 2011. Law and Economics. Sixth Edition. Boston: Pearson Addison Wesley
(Chapter 1-4)
Polinksky, A. Mitchell. 2011. An Introduction to Law and Economics. Fourth Edition. New York: Aspen Publishers.
(Chapters 1-2)
Posner, Richard A. 2007. Economic Analysis of Law. Seventh Edition. Boston: Little, Brown and Company.
(Chapter 1)
2.) Discuss the adverse impacts of monopoly upon market outcomes. Discuss the impact of government’s monopoly power over coercion.
6.) Suppose the local government determines that the price of food is too high and imposes a ceiling on the market price of food that is below the equilibrium price in that locality. Predict some of the consequences of the ceiling.
10.) Consider the right to smoke or to be free from smoke in the following situations:
1. smoking in a public area.
2. smoking in hotel rooms.
3. smoking in a private residence.
4. smoking on commercial airline flights.
In which situations do you think the transaction costs are so high that they
preclude private bargaining. In what cases are they low enough to allow private
bargains to occur? Explain your answer
14.)From an economic point of view, why is stare decisis an important rule of
decision making for the courts?
.
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