Question

CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in millions of...

CLANCY’S DOG BISCUIT CORPORATION
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
  Assets 2015 2014   Liabilities and Equity 2015 2014
  Current assets:   Current liabilities:
      Cash and marketable securities $ 8 $ 8       Accrued wages and taxes $ 11 $ 10
      Accounts receivable 26 21       Accounts payable 20 18
      Inventory 34 26       Notes payable 18 16
          Total $ 68 $ 55           Total $ 49 $ 44
  Fixed assets:   Long-term debt: $ 33 $ 27
      Gross plant and equipment $ 91 $ 72   Stockholders’ equity:
      Less: Depreciation 20 16       Preferred stock (2 million shares) $ 2 $ 2
      Common stock and paid-in surplus
      Net plant and equipment $ 71 $ 56           (5 million shares) 11 11
      Other long-term assets 19 19   Retained earnings 63 46
          Total $ 90 $ 75           Total $ 76 $ 59
  Total assets
CLANCY’S DOG BISCUIT CORPORATION
Income Statement for Years Ending December 31, 2015 and 2014
(in millions of dollars)
2015 2014
  Net sales $ 90 $ 94
  Less: Cost of goods sold 45 41
  Gross profits $ 45 $ 53
  Less: Other operating expenses 6 5
  Earnings before interest, taxes depreciation,
  and amortization (EBITDA)
$ 39 $ 48
  Less: Depreciation 4 4
  Earnings before interest and taxes (EBIT) $ 35 $ 44
  Less: Interest 5 5
  Earnings before taxes (EBT) $ 30 $ 39
  Less: Taxes 9 12
  Net income $ 21 $ 27
  Less: Preferred stock dividends $ 1 $ 1
  Net income available to common stockholders $ 20 $ 26
  Less: Common stock dividends 3 3
  Addition to retained earnings $ 17 $ 23
  Per (common) share data:
     Earnings per share (EPS) $ 4.00 $ 5.20
     Dividends per share (DPS) $ 0.60 $ 0.60
     Book value per share (BVPS) $ 14.80 $ 11.40
     Market value (price) per share (MVPS) $ 15.45 $ 14.80
$ 158 $ 130

  Total liabilities and equity

Prepare a statement of cash flows for Clancy’s Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to enter "0" wherever required.)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as...
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) Assets 2015 2014 Liabilities and Equity 2015 2014 Current assets: Current liabilities: Cash and marketable securities $ 8 $ 8 Accrued wages and taxes $ 13 $ 7 Accounts receivable 38 30 Accounts payable 27 25 Inventory 41 35 Notes payable 25 23 Total $ 87 $ 73 Total $ 65 $ 55 Fixed...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in thousands of dollars) 2015 2014 2015 2014 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 74 $ 73 Accrued wages and taxes $ 50 $ 43 Accounts receivable 191 183 Accounts payable 156 143 Inventory 316 293 Notes payable 133 133 Total $ 581 $ 549 Total $ 339 $ 319 Fixed assets:...
PT LARIS MANIS Balance Sheet (in Millions) 31 December 2015 & 2016 ASSETS 2016 2015 Current...
PT LARIS MANIS Balance Sheet (in Millions) 31 December 2015 & 2016 ASSETS 2016 2015 Current Assets: Cash and equivalents $ 3,641 $ 4,910 Short-term Investments 273 525 Accounts Receivable (net) 2,269 2,424 Inventories 278 400 Other 1,419 1,467 Total Current Assets $ 7,877 $ 9,726 Non-Current Assets: Total non-current assets $ 5,658 $ 3,499 Total Assets $13,535 $13,670 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Accounts Payable $ 5,075 $ 4,286 Accrued Liabilities 1,600 1,550 Unearned Revenues 444 192 Notes...
SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014...
SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015   Current assets   Current liabilities       Cash $ 24,086 $ 24,500       Accounts payable $ 23,584 $ 27,500       Accounts receivable 12,848 15,600       Notes payable 15,000 11,200       Inventory 26,042 27,500       Other 11,971 18,300         Total $ 62,976 $ 67,600         Total $ 50,555 $ 57,000   Long-term debt $ 60,000 $ 73,000   Owners’ equity       Common stock and paid-in surplus $ 44,000 $ 44,000       Accumulated retained earnings 237,116 256,000   Fixed assets...
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015.    JUST...
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015.    JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015 Current assets Current liabilities Cash $ 7,800 $ 12,250 Accounts payable $ 46,400 $ 52,750 Accounts receivable 15,800 31,000 Notes payable 20,600 26,500 Inventory 53,400 64,250 Total $ 77,000 $ 107,500 Total $ 67,000 $ 79,250 Long-term debt $ 46,000 $ 40,000 Owners’ equity Common stock and...
Luther Corporation Consolidated Balance Sheet December 31, 2016 and 2015 (in $ millions) Assets 2016 2015...
Luther Corporation Consolidated Balance Sheet December 31, 2016 and 2015 (in $ millions) Assets 2016 2015 Liabilities and Stockholders' Equity 2016 2015 Current Assets Current Liabilities Cash 63.6 58.5 Accounts payable 87.6 73.5 Accounts receivable 55.5 39.6 Notes payable/ short-term debt 10.5 9.6 Inventories 45.9 42.9 Current maturities of long-term debt 39.9 36.9 Other current assets 6.0 3.0 Other current liabilities 6.0 12.0 Total current assets 171.0 144.0 Total current liabilities 144.0 132.0 Long-Term Assets Long-Term Liabilities Land 66.6 62.1...
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. JUST DEW...
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015   Current assets   Current liabilities       Cash $ 4,000 $ 11,280       Accounts payable $ 39,040 $ 48,720       Accounts receivable 14,880 20,400       Notes payable 12,960 17,280       Inventory 61,920 90,480         Total $ 80,800 $ 122,160         Total $ 52,000 $ 66,000   Long-term debt $ 48,000 $ 36,000   Owners’ equity       Common stock and paid-in...
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $7,150.0...
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $7,150.0 $6,500.0 Operating costs excluding depreciation 5,541.0 5,525.0 Depreciation and amortization 245.0 189.0     Earnings before interest and taxes $1,364.0 $786.0 Less Interest 154.0 140.0     Pre-tax income $1,210.0 $646.0 Taxes (40%) 484.0 258.4 Net income available to common stockholders $726.0 $387.6 Common dividends $653.0 $310.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2016 2015 Assets Cash $94.0 $85.0 Short-term investments 36.0 33.0...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in thousands of dollars) 2015 2014 2015 2014 Assets Liabilities and Equity   Current assets:   Current liabilities:       Cash and marketable securities $ 89 $ 88       Accrued wages and taxes $ 64 $ 58       Accounts receivable 208 198       Accounts payable 166 158       Inventory 328 308       Notes payable 148 148           Total $ 625 $ 594           Total $ 378 $ 364   Fixed assets:...
Problem 6-12 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of...
Problem 6-12 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2015 2014 Sales $2,300.0 $2,000.0 Operating costs excluding depreciation 1,840.0 1,700.0 Depreciation and amortization 70.0 54.0 Earnings before interest and taxes $390.0 $246.0   Less: Interest 49.0 43.0 Pre-tax income $341.0 $203.0   Taxes (40%) 136.4 81.2 Net income available to common stockholders $204.6 $121.8 Common dividends $184.0 $97.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2015 2014 Assets Cash $35.0...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT