Financing Deficit
Garlington Technologies Inc.'s 2019 financial statements are
shown below:
Income Statement for December 31,...
Financing Deficit
Garlington Technologies Inc.'s 2019 financial statements are
shown below:
Income Statement for December 31, 2019
Sales
$4,000,000
Operating costs
3,200,000
EBIT
$ 800,000
Interest
120,000
Pre-tax earnings
$ 680,000
Taxes (25%)
170,000
Net income
510,000
Dividends
$ 190,000
Balance Sheet as of December 31, 2019
Cash
$ 160,000
Accounts payable
$ 360,000
Receivables
360,000
Line of credit
0
Inventories
720,000
Accruals
200,000
Total CA
$1,240,000
Total CL
$ 560,000
Fixed assets
4,000,000
Long-term bonds
1,000,000
Total Assets
$5,240,000
Common stock
1,100,000
RE
2,580,000
Total...
Financing Deficit Garlington Technologies Inc.'s 2019 financial
statements are shown below:
Income Statement for December 31,...
Financing Deficit Garlington Technologies Inc.'s 2019 financial
statements are shown below:
Income Statement for December 31, 2019
Sales $4,000,000
Operating costs 3,200,000
EBIT $ 800,000
Interest 120,000
Pre-tax earnings $ 680,000
Taxes (25%) 170,000
Net income 510,000
Dividends $ 190,000
Balance Sheet as of December 31, 2019
Cash $ 160,000
Accounts payable $ 360,000
Receivables 360,000
Line of credit 0
Inventories 720,000
Accruals 200,000
Total CA $1,240,000
Total CL $ 560,000
Fixed assets 4,000,000
Long-term bonds 1,000,000
Total Assets $5,240,000...
Garlington Technologies Inc.'s 2019 financial statements are
shown below:
Income Statement for December 31, 2019
Sales...
Garlington Technologies Inc.'s 2019 financial statements are
shown below:
Income Statement for December 31, 2019
Sales
$4,000,000
Operating costs
3,200,000
EBIT
$ 800,000
Interest
120,000
Pre-tax earnings
$ 680,000
Taxes (25%)
170,000
Net income
510,000
Dividends
$ 190,000
Balance Sheet as of December 31, 2019
Cash
$ 160,000
Accounts payable
$ 360,000
Receivables
360,000
Line of credit
0
Inventories
720,000
Accruals
200,000
Total CA
$1,240,000
Total CL
$ 560,000
Fixed assets
4,000,000
Long-term bonds
1,000,000
Total Assets
$5,240,000
Common stock
1,100,000
RE
2,580,000
Total L&E
$5,240,000...
Operating Section of Statement of Cash Flows (Indirect
Method)
Assume following are the income statement and...
Operating Section of Statement of Cash Flows (Indirect
Method)
Assume following are the income statement and balance sheet for
Nike for the year ended May 31, 2012, and a forecasted income
statement and balance sheet for 2013.
Income Statement
($ millions)
2012 actual
2013 Est.
Revenues
$ 18,627.0
$ 21,253.0
Cost of sales
10,239.6
11,689.0
Gross margin
8,387.4
9,564.0
Selling and administrative expense
5,953.7
6,801.0
Operating profit
2,433.7
2,763.0
Interest income, net
77.1
77.1
Other (expense) income, net
(7.9)
(7.9)...
The following table shows an abbreviated income statement and
balance sheet for McDonald's Corporation for 2012....
The following table shows an abbreviated income statement and
balance sheet for McDonald's Corporation for 2012.
INCOME STATEMENT OF MCDONALD’S CORP., 2012
(Figures in $ millions)
Net sales
27,572
Costs
17,574
Depreciation
1,407
Earnings before interest and taxes (EBIT)
8,591
Interest expense
522
Pretax income
8,069
Taxes
2,624
Net income
5,445
BALANCE SHEET OF
MCDONALD’S CORP., 2012
(Figures in $
millions)
Assets
2012
2011
Liabilities and Shareholders' equity
2012
2011
Current assets
Current liabilities
Cash and marketable securities
2,341
2,341...
I need to find which of the following assets and liabilities are
current/short-term:
Assets: Bonds ;...
I need to find which of the following assets and liabilities are
current/short-term:
Assets: Bonds ; Preferred stocks ; Common
stocks ; Mortgage loans ; Real estate ; Cash, cash equivalents and
short-term investments .; Contract loans ; Derivatives ; Securities
lending collateral assets ; Other long-term investments ;
Investment income due and accrued ; Net deferred federal income tax
asset ; Other assets ; Separate account assets .
Liabilities: Reserves for life and health
insurance, annuities and deposit-type contracts...
Operating Section of Statement of Cash Flows (Indirect
Method)
Following are the income statement and balance...
Operating Section of Statement of Cash Flows (Indirect
Method)
Following are the income statement and balance sheet for Nike Inc.
for the year ended May 31, 2016, and a forecasted income statement
and balance sheet for 2017.
Nike Inc.
Income Statement
For Year Ended May 31
$ millions
2016 actual
2017 Est.
Revenues
$ 32,376
$ 34,319
Cost of sales
17,405
18,464
Gross profit
14,971
15,855
Demand creation expense
3,278
3,466
Operating overhead expense
7,191
7,619
Total selling and administrative...
For each of the following accounts, signify which financial
statement would contain the account balance. (Please...
For each of the following accounts, signify which financial
statement would contain the account balance. (Please note this
question focuses only on the balance sheet and income
statement.)
- A.
B. C.
Interest expense
- A.
B. C.
Bonds payable (mature in 6 months)
- A.
B. C.
Bonds payable (mature in 3...
The financial statements of the company are shown
below:
The Company
Income Statement 2017
Sales
$...
The financial statements of the company are shown
below:
The Company
Income Statement 2017
Sales
$
10,050,000
Cost of Goods Sold
5,825,000
Depreciation Expense
580,000
Gross Profit
$
3,645,000
Selling and Administrative Expenses
2,950,000
EBIT
$
695,000
Interest Expense
275,000
Income before Tax
$
420,000
Taxes
272,000
Net Income
$
148,000
The Company
Comparative Balance Sheets
2017
2016
Cash
$
46,000
$
41,000
Accounts Receivable
647,000
675,000
Inventory
626,000
541,000
Total Current Assets
$
1,319,000
$
1,257,000
Fixed Assets
2,200,000...