The following is a summary of information presented on the
financial statements of a company on...
The following is a summary of information presented on the
financial statements of a company on December 31, 2019. Account
2019 2018 Net Sales Revenue $607,000 $502,000 Cost of Goods Sold
450,000 406,000 Gross Profit 157,000 96,000 Selling Expenses
54,000 52,000 Net Income Before Income Tax Expense 103,000
44,000 Income Tax Expense 38,000 24,000 Net Income $65,000
$20,000 With respect to net sales revenue, a horizontal analysis
reveals ________. A. a 240.62% decrease in net sales revenue B.
a 20.92%...
[The following information applies to the questions
displayed below.]
The comparative financial statements prepared at December...
[The following information applies to the questions
displayed below.]
The comparative financial statements prepared at December 31,
2015, for Prince Company showed the following summarized data:
2015
2014
Income statement:
Sales revenue
$
191,000
*
$
168,400
Cost
of goods sold
113,900
101,500
Gross profit
77,100
66,900
Operating expenses and interest expense
58,000
55,000
Pretax income
19,100
11,900
Income tax
5,730
3,570
Net
income
$
13,370
$
8,330
Balance sheet:
Cash
$
4,900
$
6,500...
The following is a summary of information presented on the
financial statements of a company on...
The following is a summary of information presented on the
financial statements of a company on December 31, 2019.
Account
2019
2018
Current Assets
$82,000
$$78,000
Accounts Receivable
90,000
63,000
Merchandise Inventory
64,000
60,000
Current Liabilities
55,000
50,000
Long−term
Liabilities
42,000
53,000
Common Stock
73,000
50,000
Retained Earnings
66,000
48,000
With respect to long−term liabilities, a horizontal analysis
reveals ___
A.long−term liabilities decreased by $5,000
B. long−term liabilities decreased by 20.75%
C.long−term liabilities decreased by 46%
D. long−term liabilities decreased...
How do I complete this income statement?
The following information pertains to a Hotel for the...
How do I complete this income statement?
The following information pertains to a Hotel for the year
2016:
Net rooms revenue: $1,050,000
Food and beverage revenue: $650,000
Telephone: revenue: $45,000; cost of sales: $15,000; payroll:
$18,000
F&B Info: Beg. Inv = $75,000; End. Inventory = $55,000;
Purchases =$190,000
There were no employee meals or complimentary meals given.
F&B Payroll: $200,000; F&B Other Expense: $125,000
Maintenance payroll: $75,000; other expense: $90,000
Rooms payroll: $150,000; other rooms expense: $120,000
A&G Payroll: $105,000;...
The financial statements of Elcamino Company appear below:
ELCAMINO COMPANY
Comparative Balance Sheet
December 31,
________________________________________________________...
The financial statements of Elcamino Company appear below:
ELCAMINO COMPANY
Comparative Balance Sheet
December 31,
________________________________________________________
Assets
2017 2016
Cash
..................................................................................................
$
25,000................................................................................................
$ 40,000
Debt investments
..............................................................................
20,000 60,000
Accounts receivable (net)
.................................................................
50,000 30,000
Inventory
...........................................................................................
140,000 170,000
Property, plant and equipment (net)
.................................................
170,000..............................................................................................
200,000
Total assets
................................................................................
$405,000 $500,000
Liabilities and stockholders' equity
Accounts payable
.............................................................................
$
25,000................................................................................................
$ 30,000
Short-term notes payable
.................................................................
40,000...
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its...
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its industry.
Balance Sheets for INDUSTRY:
December 31
2017
2016
2015
ASSETS
Cash and marketable securities
$30,000
$25,000
$20,000
Accounts receivable
110,000
90,000
60,000
Inventories
100,000
80,000
80,000
Total current assets
240,000
195,000
160,000
Gross plant and equipment
250,000
220,000
200,000
Less: accumulated depreciation
−100,000
−65,000
−50,000
Net plant and equipment
150,000
155,000
150,000
Land
50,000
50,000
50,000
Total fixed assets
200,000
205,000
200,000
Total...
The independent cases are listed
below includes all balance sheet accounts related to operating
activities:
Case...
The independent cases are listed
below includes all balance sheet accounts related to operating
activities:
Case A
Case B
Case C
Net income
$
315,000
$
17,500
$
425,000
Depreciation
expense
45,000
155,000
85,000
Accounts receivable
increase (decrease)
110,000
(205,000
)
(25,000
)
Inventory increase
(decrease)
(55,000
)
40,000
55,000
Accounts payable
increase (decrease)
(55,000
)
125,000
75,000
Accrued liabilities
increase (decrease)
65,000
(225,000
)
(45,000
)
Show the operating activities section of cash flows for each of
the given...
Selected information from the financial statements of Haley, Inc
is presented below.
Develop a percentage change...
Selected information from the financial statements of Haley, Inc
is presented below.
Develop a percentage change trend analysis for each of the
three years. Results must be entered in schedule
below.
Make at least one observation that is revealed by information
provided in the analysis.
2011
2012
2013
Historical Data
Inventory
16,500
16,300
16,200
Property Plant & Equipment
82,500
84,000
80,100
Current Liabilities
35,000
32,500
31,800
Sales
150,000
135,000
128,000
Cost of Goods Sold
86,000
75,000
70,000
Operating Expenses
52,000
57,000...
Earnings per Share The following financial data is from Hi-Tech
Instruments' financial statements (thousands of dollars,...
Earnings per Share The following financial data is from Hi-Tech
Instruments' financial statements (thousands of dollars, except
earnings per share.) 2016 Sales revenue $210,000 Cost of goods sold
125,000 Net income 9,100 Dividends 3,400 Earnings per share 4.55
Hi-Tech Instruments, Inc. Balance Sheet (Thousands of Dollars) Dec.
31, 2016 Dec. 31, 2015 Assets Cash $18,300 $18,000 Accounts
receivable (net) 46,000 41,000 Inventory 39,500 43,700 Total
current assets 103,800 102,700 Plant assets (net) 52,600 50,500
Other assets 15,600 13,800 Total assets...
HYDRO COMPANY
Balance Sheet
December 31, 2015
Cash
$40,000
Current liabilities
$80,000
Accounts receivable (net)
80,000...
HYDRO COMPANY
Balance Sheet
December 31, 2015
Cash
$40,000
Current liabilities
$80,000
Accounts receivable (net)
80,000
10% Bonds payable
120,000
Inventory
130,000
Common Stock
200,000
Plant and equipment (net)
250,000
Retained earnings
100,000
Total assets
$500,000
Total Liabilities and Stockholders' Equity
$500,000
Sales revenues for 2015 were $800,000, gross profit was $320,000,
and net income was $36,000. The income tax rate was 40 percent. One
year ago, accounts receivable (net) were $76,000, inventory was
$110,000, total assets were $460,000, and...