LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31, 2016 and 2017
2017
2016
Gross...
LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31, 2016 and 2017
2017
2016
Gross sales
$
19,000
$
15,000
Sales returns and
allowances
1,000
100
Net sales
$
18,000
$
14,900
Cost of merchandise (goods)
sold
12,000
9,000
Gross profit
$
6,000
$
5,900
Operating expenses:
Depreciation
$
700
$
600
Selling and administrative
2,200
2,000
Research
550
500
Miscellaneous
360
300
Total operating expenses
$
3,810
$
3,400
Income before interest and
taxes
$
2,190
$
2,500...
Suppose a firm has had the following historic sales figures year
2016 sales $1450000, year 2017...
Suppose a firm has had the following historic sales figures year
2016 sales $1450000, year 2017 $1710000, year 2018 $ 1600000, year
2019 $2000000 and year 2020 $1850. What would be the forecast for
next year's sales using regression to estimate a trend?
The following are Marin Corp.’s comparative balance sheet
accounts at December 31, 2017 and 2016, with...
The following are Marin Corp.’s comparative balance sheet
accounts at December 31, 2017 and 2016, with a column showing the
increase (decrease) from 2016 to 2017.
COMPARATIVE BALANCE SHEETS
2017
2016
Increase
(Decrease)
Cash
$813,400
$705,900
$107,500
Accounts receivable
1,123,400
1,156,600
(33,200
)
Inventory
1,863,500
1,731,800
131,700
Property, plant, and equipment
3,302,300
2,988,100
314,200
Accumulated depreciation
(1,162,900
)
(1,033,700
)
(129,200
)
Investment in Myers Co.
307,100
276,600
30,500
Loan receivable
252,200
—
252,200
Total assets
$6,499,000
$5,825,300
$673,700
Accounts...
a comparative balance sheet for ALPHAinc at December 31,2017 is
shown below.
2017 2016 Change
cash...
a comparative balance sheet for ALPHAinc at December 31,2017 is
shown below.
2017 2016 Change
cash 30,000 35,000 -5,000
accounts receivable 55,000 45,000 10,000
inventory 65,000 45,000 20,000
preppaid expense 15,000 25,000 -10,000
land 70,000 40,000 30,000
right of use of asset 100,000 0 100,000
equipment 90,000 75,000 15,000
accumulated depreciation -18,000 -8,000 -10,000
total 407,000 257,000 150,000
Accounts payable 65,000 52,000 13,000
accrued expense 15,000 18,000 3,000
notes payable 0 23,000 -23,000
bonds payable 30,000 0 30,000
lease...
Comparative financial statement data of Manfield, Inc.
follow:
Compute the following ratios for 2018 and
2017:...
Comparative financial statement data of Manfield, Inc.
follow:
Compute the following ratios for 2018 and
2017:
a.
Current ratio
b.
Cash ratio
c.
Times-interest-earned ratio
d.
Inventory turnover
e.
Gross profit percentage
f.
Debt to equity ratio
g.
Rate of return on common stockholders' equity
h.
Earnings per share of common stock
i.
Price/earnings ratio
2.
Decide (a) whether Manfield's ability to pay
debts and to sell inventory improved or deteriorated during 2018
and (b) whether the investment attractiveness of...
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...
Drill Problem 16-13 [LU 16-3 (2)]
LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31,...
Drill Problem 16-13 [LU 16-3 (2)]
LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31, 2016 and 2017
2017
2016
Gross sales
$
19,000
$
15,000
Sales returns and
allowances
1,000
100
Net sales
$
18,000
$
14,900
Cost of merchandise (goods)
sold
12,000
9,000
Gross profit
$
6,000
$
5,900
Operating expenses:
Depreciation
$
700
$
600
Selling and administrative
2,200
2,000
Research
550
500
Miscellaneous
360
300
Total operating expenses
$
3,810
$
3,400
Income before interest...
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2016 and 2015
2016
2015
Assets
Cash
$
30,400...
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2016 and 2015
2016
2015
Assets
Cash
$
30,400
$
30,550
Accounts receivable,
net
10,050
12,150
Inventory
90,100
70,150
Total current
assets
130,550
112,850
Equipment
49,900
41,500
Accum.
depreciation—Equipment
(22,500
)
(15,300
)
Total assets
$
157,950
$
139,050
Liabilities
and Equity
Accounts
payable
$
23,900
$
25,400
Salaries
payable
500
600
Total current
liabilities
24,400
26,000
Equity
Common stock, no par
value
110,000
100,000
Retained
earnings
23,550
13,050
Total liabilities
and equity...
The comparative balance sheets for Cullumber Corporation show
the following information.
December 31
2017
2016
Cash...
The comparative balance sheets for Cullumber Corporation show
the following information.
December 31
2017
2016
Cash
$33,400
$12,900
Accounts receivable
12,200
10,000
Inventory
11,800
9,100
Available-for-sale debt investments
–0–
2,900
Buildings
–0–
29,800
Equipment
45,200
20,200
Patents
5,000
6,300
$107,600
$91,200
Allowance for doubtful accounts
$3,000
$4,600
Accumulated depreciation—equipment
2,000
4,500
Accumulated depreciation—building
–0–
5,900
Accounts payable
5,000
2,900
Dividends payable
–0–
4,900
Notes payable, short-term (nontrade)
3,000
4,000
Long-term notes payable
31,000
25,000
Common stock
43,000
33,000
Retained earnings...
Beasley Industries' sales are expected to increase from $4
million in 2017 to $5 million in...
Beasley Industries' sales are expected to increase from $4
million in 2017 to $5 million in 2018, or by 25%. Its assets
totaled $2 million at the end of 2017. Beasley is at full capacity,
so its assets must grow in proportion to projected sales. At the
end of 2017, current liabilities are $800,000, consisting of
$160,000 of accounts payable, $450,000 of notes payable, and
$190,000 of accrued liabilities. Its profit margin is forecasted to
be 4%, and its dividend...