Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA,...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC.
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015
2014
2015
2014
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash and marketable securities
$
73
$
64
Accrued wages and taxes
$
41
$
44
Accounts receivable
117
112
Accounts payable
91
81
Inventory
202
192
Notes payable
81
71
Total
$
392
$
368
Total
$...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC....
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC.
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015
2014
2015
2014
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash and marketable
securities
$
96
$
60
Accrued wages and taxes
$
48
$
60
Accounts receivable
88
66
Accounts payable
56
72
Inventory
248
156
Notes payable
64
78
Total
$
432
$
282
Total
$
168...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC....
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC.
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015
2014
2015
2014
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash and marketable securities
$
50
$
56
Accrued wages and taxes
$
50
$
48
Accounts receivable
60
52
Accounts payable
55
44
Inventory
205
96
Notes payable
60
40
Total
$
315
$
204
Total
$
165...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF
EGYPT MARINA, INC...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF
EGYPT MARINA, INC
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015
2014
2015
2014
Assets
Liabilities and Equity
Current
assets:
Current
liabilities:
Cash and marketable securities
$
44
$
42
Accrued wages and taxes
$
28
$
30
Accounts receivable
36
36
Accounts payable
32
36
Inventory
153
63
Notes payable
36
42
Total
$
233
$
141
Total
$
96...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF
EGYPT MARINA, INC...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF
EGYPT MARINA, INC
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015
2014
2015
2014
Assets
Liabilities and Equity
Current
assets:
Current
liabilities:
Cash and marketable securities
$
44
$
42
Accrued wages and taxes
$
28
$
30
Accounts receivable
36
36
Accounts payable
32
36
Inventory
153
63
Notes payable
36
42
Total
$
233
$
141
Total
$
96...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC...
Use the following financial statements for Lake of Egypt Marina,
Inc.
LAKE OF EGYPT MARINA, INC
Balance Sheet as of December 31, 2015 and 2014
(in millions of dollars)
2015 2014
2015
2014
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash and marketable securities $
45 $ 36
Accrued wages and taxes
$ ...
Exercise 12-82
Stockholder Ratios
Financial statements for Steele Inc. follow.
Steele
Inc.
Consolidated
Income Statements
(in...
Exercise 12-82
Stockholder Ratios
Financial statements for Steele Inc. follow.
Steele
Inc.
Consolidated
Income Statements
(in
thousands except per share amounts)
2019
2018
2017
Net sales
$7,245,088
$6,944,296
$6,149,218
Cost of goods sold
(5,286,253)
(4,953,556)
(4,355,675)
Gross margin
$1,958,835
$1,990,740
$1,793,543
General and
administrative expenses
(1,259,896)
(1,202,042)
(1,080,843)
Special and
nonrecurring items
2,617
0
0
Operating income
$701,556
$788,698
$712,700
Interest expense
(63,685)
(62,398)
(63,927)
Other income
7,308
10,080
11,529
Gain on sale of
investments
0
9,117
0
Income before...
Exercise 12-82
Stockholder Ratios
Financial statements for Steele Inc. follow.
Steele
Inc.
Consolidated
Income Statements
(in...
Exercise 12-82
Stockholder Ratios
Financial statements for Steele Inc. follow.
Steele
Inc.
Consolidated
Income Statements
(in
thousands except per share amounts)
2019
2018
2017
Net sales
$7,245,088
$6,944,296
$6,149,218
Cost of goods sold
(5,286,253)
(4,953,556)
(4,355,675)
Gross margin
$1,958,835
$1,990,740
$1,793,543
General and
administrative expenses
(1,259,896)
(1,202,042)
(1,080,843)
Special and
nonrecurring items
2,617
0
0
Operating income
$701,556
$788,698
$712,700
Interest expense
(63,685)
(62,398)
(63,927)
Other income
7,308
10,080
11,529
Gain on sale of
investments
0
9,117
0
Income before...
The financial statements for Castile Products, Inc., are given
below: Castile Products, Inc. Balance Sheet December...
The financial statements for Castile Products, Inc., are given
below: Castile Products, Inc. Balance Sheet December 31 Assets
Current assets: Cash $ 24,000 Accounts receivable, net 250,000
Merchandise inventory 330,000 Prepaid expenses 9,000 Total current
assets 613,000 Property and equipment, net 880,000 Total assets $
1,493,000 Liabilities and Stockholders' Equity Liabilities: Current
liabilities $ 280,000 Bonds payable, 11% 390,000 Total liabilities
670,000 Stockholders’ equity: Common stock, $5 per value $ 140,000
Retained earnings 683,000 Total stockholders’ equity 823,000 Total
liabilities...
The financial statements for Castile Products, Inc., are given
below:
Castile Products, Inc.
Balance Sheet
December...
The financial statements for Castile Products, Inc., are given
below:
Castile Products, Inc.
Balance Sheet
December 31
Assets
Current assets:
Cash
$
21,000
Accounts receivable, net
260,000
Merchandise inventory
350,000
Prepaid expenses
10,000
Total current assets
641,000
Property and equipment, net
880,000
Total assets
$
1,521,000
Liabilities and Stockholders'
Equity
Liabilities:
Current liabilities
$
200,000
Bonds payable, 8%
380,000
Total liabilities
580,000
Stockholders’ equity:
Common stock, $10 per value
$
120,000
Retained earnings
821,000
Total stockholders’ equity
941,000
Total liabilities...