Ritter Corporation’s accountants prepared the following
financial statements for year-end.
RITTER CORPORATION
Income Statement
2020
Revenue...
Ritter Corporation’s accountants prepared the following
financial statements for year-end.
RITTER CORPORATION
Income Statement
2020
Revenue
$
1,085
Expenses
755
Depreciation
90
EBT
$
240
Taxes
96
Net income
$
144
Dividends
$
50
RITTER CORPORATION
Balance Sheets
December 31
2019
2020
Assets
Cash
$
70
$
85
Other current assets
224
280
Net fixed assets
710
827
Total assets
$
1,004
$
1,192
Liabilities and Equity
Accounts payable
$
276
$
290
Long-term debt
0
80
Stockholders’...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2019 Income Statement...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2019 Income Statement
Sales
$
568,200
Costs of goods sold
273,995
Selling & administrative
124,727
Depreciation
54,570
EBIT
$
114,908
Interest
19,428
EBT
$
95,480
Taxes
38,192
Net income
$
57,288
Dividends
$
10,200
Addition to retained earnings
$
47,088
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2018
Cash
$
13,380
Accounts payable
$
9,498
Accounts receivable
18,988
Notes payable
14,502
Inventory
13,800
Current liabilities...
For Year 2019 a firm had sales of
$900,000, cost of goods sold of $685,000, depreciation...
For Year 2019 a firm had sales of
$900,000, cost of goods sold of $685,000, depreciation expense of
$35,000, interest expense of $15,000, and dividends paid of
$18,800. At the beginning of the year, net fixed assets were
$580,000, current assets were $300,000, and current liabilities
were $140,000. At the end of the year, net fixed assets were
$640,000, current assets were $400,000, and current liabilities
were $200,000. The tax rate was 21%.
Income Statement
6(a)
What was the...
Freeman, Inc., reported the following financial statements for
the last two years.
2014 Income Statement
Sales...
Freeman, Inc., reported the following financial statements for
the last two years.
2014 Income Statement
Sales
$
565,210
Cost of goods sold
274,020
Selling & administrative
124,732
Depreciation
54,575
EBIT
$
111,883
Interest
19,297
EBT
$
92,586
Taxes
48,145
Net income
$
44,441
Dividends
$
9,700
Addition to retained earnings
$
34,741
FREEMAN, INC.
Balance Sheet as of December 31, 2013
Cash
$
13,330
Accounts payable
$
24,010
Accounts receivable
18,993
Inventory
13,795
Current assets
$
46,118
Long-term debt...
Freeman, Inc., reported the following financial statements for
the last two years.
FREEMAN, INC.
2017 Income...
Freeman, Inc., reported the following financial statements for
the last two years.
FREEMAN, INC.
2017 Income Statement
Sales
$
565,320
Cost of goods
sold
273,965
Selling &
administrative
124,721
Depreciation
54,564
EBIT
$
112,070
Interest
19,308
EBT
$
92,762
Taxes
48,236
Net income
$
44,526
Dividends
$
10,800
Addition to
retained earnings
$
33,726
FREEMAN, INC.
Balance Sheet as of December 31, 2016
Cash
$
13,440
Accounts payable
$
23,988
Accounts
receivable
18,982
Inventory
13,806
Current
assets
$
46,228
Long-term...
Use the following information to answer questions 1-8 Consider
the following abbreviated financial statements for Xinghua:...
Use the following information to answer questions 1-8 Consider
the following abbreviated financial statements for Xinghua: XINGHUA
2014 and 2015 Partial Balance Sheets Assets Liabilities and Owners’
Equity 2014 2015 2014 2015 Current assets $ 924 $ 1,002 Current
liabilities $ 370 $ 428 Net fixed assets 3,917 4,556 Long-term debt
2,006 2,142 Equity 2,465 2,988 XINGHUA 2015 Income Statement Sales
$11,295 Costs 5,535 Depreciation 1,020 Interest paid 180 The tax
rate is 35%. Long term debt trades at 128%...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2016 Income...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2016 Income Statement
Sales
$
568,700
Costs of goods sold
273,990
Selling and administrative
124,726
Depreciation
54,569
EBIT
$
115,415
Interest
19,450
EBT
$
95,965
Taxes
38,386
Net income
$
57,579
Dividends
$
10,300
Addition to retained
earnings
$
47,279
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2015
Cash
$
13,390
Accounts
payable
$
9,497
Accounts receivable
18,987
Notes payable
14,501
Inventory
13,801
Current...
Financial information for Powell Panther Corporation is shown
below:
Powell Panther Corporation: Income Statements for Year...
Financial information for Powell Panther Corporation is shown
below:
Powell Panther Corporation: Income Statements for Year
Ending December 31 (Millions of Dollars)
2019
2018
Sales
$
2,990.0
$
2,600.0
Operating costs excluding depreciation and amortization
2,243.0
2,210.0
EBITDA
$
747.0
$
390.0
Depreciation and amortization
80.0
73.0
Earnings before interest and taxes (EBIT)
$
667.0
$
317.0
Interest
65.8
57.2
Earnings before taxes (EBT)
$
601.2
$
259.8
Taxes (25%)
240.5
103.9
Net income
$
360.7
$
155.9
Common dividends...
FREE CASH FLOW Arlington Corporation’s financial statements
(dollars and shares are in
millions) are provided here....
FREE CASH FLOW Arlington Corporation’s financial statements
(dollars and shares are in
millions) are provided here.
Balance Sheets as of December 31
2018
2017
Assets
Cash and equivalents
$ 15,000
$ 14,000
Accounts receivable
35,000
30,000
Inventories
33,320
27,000
Total current
assets
$ 83,320
$ 71,000
Net plant and equipment
48,000
46,000
Total assets
$131,320
$ 117,000
Liabilities and Equity
Accounts payable
$ 10,100
$ 9,000
Accruals
...
Powell Panther Corporation: Income Statements for Year
Ending December 31 (Millions of Dollars)
2019
2018
Sales...
Powell Panther Corporation: Income Statements for Year
Ending December 31 (Millions of Dollars)
2019
2018
Sales
$
3,500.0
$
2,800.0
Operating costs excluding depreciation and amortization
2,975.0
2,380.0
EBITDA
$
525.0
$
420.0
Depreciation and amortization
98.0
76.0
Earnings before interest and taxes (EBIT)
$
427.0
$
344.0
Interest
77.0
61.6
Earnings before taxes (EBT)
$
350.0
$
282.4
Taxes (25%)
140.0
113.0
Net income
$
210.0
$
169.4
Common dividends
$
189.0
$
135.5
Powell Panther Corporation: Balance Sheets...