Times interest earned
Berry Company reported the following on the company's income
statement in two recent...
Times interest earned
Berry Company reported the following on the company's income
statement in two recent years:
Current
Year
Prior
Year
Interest expense
$293,000
$322,300
Income before income tax expense
3,545,300
4,189,900
a. Determine the number of times interest
charges were earned for current Year and prior Year. Round to one
decimal place.
Current Year
Prior Year
b. Is the number of times interest charges are
earned improving or declining?
imes interest earned
Berry Company reported the following on the company's income
statement in two recent...
imes interest earned
Berry Company reported the following on the company's income
statement in two recent years:
Current
Year
Prior
Year
Interest expense
$353,000
$423,600
Income before income tax expense
5,542,100
6,777,600
a. Determine the number of times interest
charges were earned for current Year and prior Year. Round to one
decimal place.
Current Year
fill in the blank 1
Prior Year
fill in the blank 2
b. Is the number of times interest charges are
earned improving or declining?
Times interest earned Loomis, Inc. reported the following on the
company’s income statement in two recent...
Times interest earned Loomis, Inc. reported the following on the
company’s income statement in two recent years: Current Year Prior
Year Interest expense $231,000 $277,200 Income before income tax
expense 2,887,500 3,381,840 a. Determine the times interest earned
ratio for the current year and the prior year. Round to one decimal
place. Current year Prior year b. Is the number of times interest
charges are earned improving or declining? Improving
Times interest earned
A company reports the following:
Income before income tax
$4,348,500
Interest expense
195,000...
Times interest earned
A company reports the following:
Income before income tax
$4,348,500
Interest expense
195,000
Determine the times interest earned ratio. If required, round
the answer to one decimal place.
At May 31, 2016, FedEx Corporation reported the following
amounts (in millions) in its financial statements:...
At May 31, 2016, FedEx Corporation reported the following
amounts (in millions) in its financial statements:
2016
2015
Total Assets
$
13,700
$
11,500
Total Liabilities
9,453
7,705
Interest Expense
360
360
Income Tax Expense
750
740
Net Income
1,140
1,060
Required:
1.Compute the debt-to-assets ratio and times
interest earned ratio for 2016 and 2015. (Round your
answers to 2 decimal places.)
2-a. Creditors were providing a greater (or
lesser) proportion of financing for FedEx’s assets?
Greater
Lesser
2-b. FedEx...
For the FY 2016, Alpha Company had net sales of $850,000 and net
income of $50,000,...
For the FY 2016, Alpha Company had net sales of $850,000 and net
income of $50,000, paid income taxes of $20,000, and had before tax
interest expense of $10,000. Use this information to determine the:
(Round & enter your answers to one decimal place and enter the
value.) 1. Times Interest Earned Ratio 2. Profit Margin
A)The following items are reported on a
company’s balance sheet:
Cash $400,000 Marketable securities 50,000
Accounts...
A)The following items are reported on a
company’s balance sheet:
Cash $400,000 Marketable securities 50,000
Accounts receivable 150,000
Inventory 200,000
Accounts payable 250,000
Determine the (a) current ratio, and (b) quick ratio. Round your
answers to one decimal place.
a. Current ratio:
b. Quick ratio :
B) A company reports the following:
Income before income tax: $341,880
Interest expense: 77,700
Determine the number of times interest charges are earned. Round
your answer to one decimal place.
C) A company reports...
Suppose this information is available for PepsiCo,
Inc. for 2015, 2016, and 2017.
(in millions)
2015...
Suppose this information is available for PepsiCo,
Inc. for 2015, 2016, and 2017.
(in millions)
2015
2016
2017
Beginning inventory
$2,100
$2,200
$2,800
Ending inventory
2,200
2,800
2,600
Cost of goods sold
17,951
20,435
20,445
Sales revenue
38,895
42,974
43,152
Calculate the inventory turnover for PepsiCo, Inc. for 2015,
2016, and 2017. (Round inventory turnover to 1 decimal
place, e.g. 5.1.)
2015
2016
2017
Inventory turnover
times
times
times
Calculate the days in inventory for PepsiCo, Inc. for 2015,
2016,...
For 2016, Clapton Company reported a decline in net income. At
the end of the year,...
For 2016, Clapton Company reported a decline in net income. At
the end of the year, S. Hand, the president, is presented with the
following condensed comparative income statement:
Clapton Company
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
1
2016
2015
2
Sales
$6,787,200.00
$6,060,000.00
3
Cost of goods sold
2,444,200.00
2,020,000.00
4
Gross profit
$4,343,000.00
$4,040,000.00
5
Selling expenses
$1,125,000.00
$900,000.00
6
Administrative expenses
711,200.00
560,000.00
7
Total operating expenses
$1,836,200.00
$1,460,000.00
8
Income...
Rate of Change Analyses
Teicher Company presents the following condensed comparative
income statements for 2015, 2016,...
Rate of Change Analyses
Teicher Company presents the following condensed comparative
income statements for 2015, 2016, and 2017:
For Years Ended December 31,
2017
2016
2015
Sales (net)
$120,000
$100,000
$85,000
Cost of goods sold
(72,000)
(55,000)
(45,000)
Gross profit
$48,000
$45,000
$40,000
Operating expenses
(22,000)
(20,000)
(18,000)
Operating income
$26,000
$25,000
$22,000
Other items:
Dividend revenue
400
500
200
Interest expense
(1,200)
(1,000)
(500)
Income before income taxes
$25,200
$24,500
$21,700
Income tax expense
(8,200)
(8,000)
(6,000)
Net income...