Question

Using the data for Brady and Co. provided in the sheet labeled "Trial Balance" prepare Income...

Using the data for Brady and Co. provided in the sheet labeled "Trial Balance" prepare Income Statement - multiple-step for fiscal years 2015. Include earnings per share data.

2015
Dr Cr
Accounts Payable          999,210
Accounts Receivable        2,943,125
Accrued Liabilities - Other          508,643
Accrued Pension Liabilities          650,216
Accrued Restructuring Charges          126,000
Accrued Salaries, Wages and Commissions          281,364
Accumulated Other Comprehensive Income (Loss)            621,236
Accumulated Depreciation - Property, Plant & Equipment       1,829,634
Accumulated Post-Employment Benefit Obligation (long-term)          802,316
Additional Paid-in Capital, Common Stock          299,304
Additional Paid-in Capital, Preferred Stock                    75
Allowance for Doubtful Accounts          125,436
Bonds Payable          244,563
Cash and Cash Equivalents            401,236
Common Stock ($1.00 par value) authorized 900 million shares          300,000
issued 300 million shares in 2016, 284 million in 2015
Cost of Goods Sold        3,000,235
Current Portion of Long-term Debt          720,125
Deferred Tax Assets (current)              62,596
Deferred Tax Liabilities (long-term)          229,000
Depreciation Expense            307,200
Dividends - Common            292,351
Dividends - Preferred                2,000
General & Administrative Expenses        1,732,429
Goodwill and Other Intangibles        3,212,491
Income Taxes Payable          246,002
Interest Expense            201,366
Interest Income            10,126
Investments in unconsolidated affiliated companies        1,235,000
Inventories            163,214
Long-term Debt       3,223,713
(Loss) Income from Discontinued Operations, net of tax              28,100
Preferred Stock ($10 par value) authorized 10 million shares                  900
issued 90,000 shares in 2016, 90,000 in 2015
Prepaid Expenses            141,029
Property, Plant and Equipment        2,943,216
Provision for income taxes            245,105
Research and Development Expenses            199,500
Restructuring Charges            199,506
Retained Earnings, beginning       2,960,256
Sales       8,430,061
Selling Expenses              19,365
Short-term Investments              20,000
Treasury Stock, at cost - 117,156,719 shares in 2016        4,472,969
   and 108,822,953 shares in 2015
Unearned Revenues          456,325
     22,443,269    22,443,269

Homework Answers

Answer #1

Brady and Co.

Income Statement - multiple-step for fiscal year 2015. (Include earnings per share data)

Sales 8430061
Cost of Goods Sold 3000235
Gross Profit 5429826
Operating Expenses
Selling Expenses 19365
General & Administrative Expenses 1732429
Research and Development Expenses 199500
Restructuring Charges 199506 2150800
Operating Income before Depreciation and Interest 3279026
Depreciation Expense 307200
Interest Expense 201366 508566
Interest Income 10126
Net Income from Continuing Operations 2780586
(Loss) Income from Discontinued Operations net of tax 28100

Net Income

2752486

EPS= Netincome-preferred dividends/Common shares =2742486-2000/3000000 = 0.94

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
My balance sheet does not balance please correct the missing information from trial balance and correct...
My balance sheet does not balance please correct the missing information from trial balance and correct the balance sheet below. Trial Balance 2015 Dr Cr Accounts Payable          999,210 Accounts Receivable        2,943,125 Accrued Liabilities - Other          508,643 Accrued Pension Liabilities          650,216 Accrued Restructuring Charges          126,000 Accrued Salaries, Wages and Commissions          281,364 Accumulated Other Comprehensive Income (Loss)            621,236 Accumulated Depreciation - Property, Plant & Equipment       1,829,634 Accumulated Post-Employment Benefit Obligation (long-term)          802,316 Additional...
What is the EPS (earnings per share data)? 2015 Dr Cr Accounts Payable        999,210 Accounts...
What is the EPS (earnings per share data)? 2015 Dr Cr Accounts Payable        999,210 Accounts Receivable     2,943,125 Accrued Liabilities - Other        508,643 Accrued Pension Liabilities        650,216 Accrued Restructuring Charges        126,000 Accrued Salaries, Wages and Commissions        281,364 Accumulated Other Comprehensive Income (Loss)        621,236 Accumulated Depreciation - Property, Plant & Equipment     1,829,634 Accumulated Post-Employment Benefit Obligation (long-term)        802,316 Additional Paid-in Capital, Common Stock        299,304 Additional Paid-in Capital, Preferred Stock                  75 Allowance...
For direct method on cash flow, how to adjust on prepaid expenses when the balance sheet...
For direct method on cash flow, how to adjust on prepaid expenses when the balance sheet doesn't specify which prepaid expenses on company's balance sheet?? -ex: General Admin, interest income, interest expenses, depreciation Current Assets: Cash and cash equivalents................................. $109,810 $ 6,248 Short-term investments.................................... 15,256 -- Inventories............................................... 8,971 571 Prepaid expenses and other................................ 3,298 321 -------- ------- Total current assets.............................. 137,335 7,140 Fixed assets, net........................................... 9,265 985 Deposits.................................................... 166 146 Deferred charges............................................ 2,240 -- -------- ------- Total assets...................................... $149,006 $...
Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Medtronic...
Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Medtronic plc Consolidated Balance Sheets ($ millions) Apr. 29, 2016 Apr. 24, 2015 Current assets Cash and cash equivalents $3,221 $4,843 Investments 9,758 14,637 Accounts receivable 5,562 5,112 Inventories 3,473 3,463 Tax assets 697 1,335 Prepaid expenses and other current assets 1,234 1,454 Total current assets 23,945 30,844 Property, plant, and equipment, net 4,841 4,699 Goodwill 41,500 40,530 Other intangible assets, net 26,899 28,101 Long-term...
Income Statement and Balance Sheet KRISPY KREME DOUGHNUTS, INC. CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended...
Income Statement and Balance Sheet KRISPY KREME DOUGHNUTS, INC. CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended Feb. 1, 2015 (In thousands, except per share amounts) Revenues $ 383,984 Operating expenses: Direct operating expenses (exclusive of depreciation and amortization shown below) 345,007 General and administrative expenses 23,458 Depreciation and amortization expense 8,709 Impairment charges and lease termination costs 548 Settlement of litigation — (14,930 ) Other operating (income) and expense, net 1,501 Operating income (loss) 4,761 Interest income 331 Interest expense...
Please provide, in sentence form, a Balance Sheet and Income Sheet Analysis for CVS & Walgreens....
Please provide, in sentence form, a Balance Sheet and Income Sheet Analysis for CVS & Walgreens. Answer should refelect several paragraphs for each company, so at least one an half for the Income and one and half for the Balance sheet for each company. Please, Please, Please watch syntax and grammar!! CVS Balance Sheet All numbers in thousands Period Ending 12/31/2017 12/31/2016 12/31/2015 Current Assets Cash And Cash Equivalents 1,696,000 3,371,000 2,459,000 Short Term Investments 111,000 87,000 88,000 Net Receivables...
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC....
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated Statement of Income ($ millions) Apr. 29, 2016 Net sales $29,277 Costs and expenses Cost of products sold 9,142 Research and development expenses 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charge, net 290 Certain litigation charges, net 26 Acquisition-related items 283 Amortization of intangiable assets 1,931 Other expense, net 107 Operating profit 5,735 Interest expense,...
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC....
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated Statement of Income ($ millions) Apr. 29, 2016 Net sales $29,277 Costs and expenses Cost of products sold 9,142 Research and development expenses 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charge, net 290 Certain litigation charges, net 26 Acquisition-related items 283 Amortization of intangiable assets 1,931 Other expense, net 107 Operating profit 5,735 Interest expense,...
Please Give a Horizontal Analysis for CVS and Walgreens CVS Balance Sheet All numbers in thousands...
Please Give a Horizontal Analysis for CVS and Walgreens CVS Balance Sheet All numbers in thousands Period Ending 12/31/2017 12/31/2016 12/31/2015 Current Assets Cash And Cash Equivalents 1,696,000 3,371,000 2,459,000 Short Term Investments 111,000 87,000 88,000 Net Receivables 13,181,000 12,164,000 11,888,000 Inventory 15,296,000 14,760,000 14,001,000 Other Current Assets 945,000 660,000 722,000 Total Current Assets 31,229,000 31,042,000 29,158,000 Long Term Investments - - - Property Plant and Equipment 10,292,000 10,175,000 9,855,000 Goodwill 38,451,000 38,249,000 38,106,000 Intangible Assets 13,630,000 13,511,000 13,878,000 Accumulated...
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:...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT