Comparative financial statement data for Cullumber Corporation
and Ivanhoe Corporation, two competitors, appear below. All balance...
Comparative financial statement data for Cullumber Corporation
and Ivanhoe Corporation, two competitors, appear below. All balance
sheet data are as of December 31, 2022.
Cullumber
Corporation
Ivanhoe
Corporation
2022
2022
Net sales
$1,845,000
$610,000
Cost of goods sold
1,220,000
365,000
Operating expenses
308,000
94,000
Interest expense
9,000
3,600
Income tax expense
90,000
36,400
Current assets
427,000
131,600
Plant assets (net)
533,000
141,400
Current liabilities
57,640
35,344
Long-term liabilities
147,800
29,630
Additional Information:
Cash from operating activities
$153,000
$43,300
Capital expenditures...
Selected comparative statement data for Queen Products Company
are presented below. All balance sheet data are...
Selected comparative statement data for Queen Products Company
are presented below. All balance sheet data are as of December 31.
2017 2016 Net sales $756,000 $723,000 Cost of goods sold 482,500
444,500 Interest expense 7,600 4,700 Net income 49,000 42,000
Accounts receivable 122,500 109,000 Inventory 81,500 74,500 Total
assets 581,000 504,900 Total common stockholders’ equity 429,500
321,800 Compute the following ratios for 2017. (Round answers to 1
decimal place, e.g. 1.6, or 1.6% .) Profit margin Entry field with
correct...
Lansing Company’s 2017 income statement and selected balance
sheet data (for current assets and current liabilities)...
Lansing Company’s 2017 income statement and selected balance
sheet data (for current assets and current liabilities) at December
31, 2016 and 2017, follow.
LANSING COMPANY
Income Statement
For Year Ended December 31, 2017
Sales revenue
$142,200
Expenses
Cost of goods
sold
57,000
Depreciation expense
19,500
Salaries expense
33,000
Rent
expense
10,500
Insurance expense
5,300
Interest expense
5,100
Utilities expense
4,300
Net
income
$7,500
LANSING COMPANY
Selected Balance Sheet Accounts
At December
31
2017
2016
Accounts receivable
$7,100
$8,800
Inventory...
Cullumber Medical manufactures hospital beds and other
institutional furniture. The company’s comparative balance sheet
and income...
Cullumber Medical manufactures hospital beds and other
institutional furniture. The company’s comparative balance sheet
and income statement for 2015 and 2016 follow.
Cullumber Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$397,000
$417,450
Accounts receivable, net
1,089,000
776,400
Inventory
733,000
681,050
Other current assets
381,400
247,100
Total current assets
2,600,400
2,122,000
Property, plant, & equipment, net
8,616,245
8,439,830
Total assets
$11,216,645
$10,561,830
Liabilities and Stockholders’ Equity
Current liabilities
$3,156,000
$2,846,050
Long-term debt
3,702,600
3,892,600...
Cullumber Medical manufactures hospital beds and other
institutional furniture. The company’s comparative balance sheet
and income...
Cullumber Medical manufactures hospital beds and other
institutional furniture. The company’s comparative balance sheet
and income statement for 2015 and 2016 follow.
Cullumber Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$397,000
$417,450
Accounts receivable, net
1,089,000
776,400
Inventory
733,000
681,050
Other current assets
381,400
247,100
Total current assets
2,600,400
2,122,000
Property, plant, & equipment, net
8,616,245
8,439,830
Total assets
$11,216,645
$10,561,830
Liabilities and Stockholders’ Equity
Current liabilities
$3,156,000
$2,846,050
Long-term debt
3,702,600
3,892,600...
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000...
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000
$417,400
Accounts receivable, net
1,065,600
776,450
Inventory
729,000
681,050
Other current assets
386,000
247,000
Total current assets
2,537,600
2,121,900
Property, plant, &
equipment, net
8,574,855
8,389,815
Total assets
$11,112,455
$10,511,715
Liabilities and
Stockholders’ Equity
Current liabilities
$3,123,000
$2,846,100
Long-term debt
3,702,650
3,892,700
Total liabilities
6,825,650
6,738,800
Preferred stock, $5 par
value
53,900
53,900
Common stock, $0.25 par
value
195,000
103,850
Retained earnings
4,037,905
3,615,165...
Problem 14-1A a, b1 (Part Level Submission) Here are comparative
statement data for Duke Company and...
Problem 14-1A a, b1 (Part Level Submission) Here are comparative
statement data for Duke Company and Lord Company, two competitors.
All balance sheet data are as of December 31, 2020, and December
31, 2019. Duke Company Lord Company 2020 2019 2020 2019 Net sales
$1,884,000 $561,000 Cost of goods sold 1,060,692 296,208 Operating
expenses 261,876 79,662 Interest expense 9,420 4,488 Income tax
expense 52,752 6,732 Current assets 321,000 $312,400 83,200 $79,500
Plant assets (net) 521,100 497,600 139,200 123,300 Current
liabilities...
The comparative statements of Cullumber Company are presented
here.
CULLUMBER COMPANY
Income Statements
For the Years...
The comparative statements of Cullumber Company are presented
here.
CULLUMBER COMPANY
Income Statements
For the Years Ended December 31
2022
2021
Net sales
$1,894,200
$1,755,700
Cost of goods sold
1,063,575
1,011,200
Gross profit
830,625
744,500
Selling and administrative expenses
505,200
484,200
Income from operations
325,425
260,300
Other expenses and losses
Interest expense
23,500
21,500
Income before income taxes
301,925
238,800
Income tax expense
93,065
74,500
Net income
$ 208,860
$ 164,300
CULLUMBER COMPANY
Balance Sheets
December 31
Assets
2022
2021...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and 2017are shown.
Terry Company
Income
Statement
For the year Ended December
31, 2017
Sales
$
390,000
Cost of Goods Sold
235,000
_______
Gross Profit
$
155,000
Wages Expenses
$
63,000
Depreciation Expense
14,000
Other Operating Expenses
26,000
Income Tax Expense
17,000
120,000
______
________
Net Income
$
35,000
...