of Ch 5 assignmentt
xlsx
keyboard_arrow_up
School
Georgia State University *
*We aren’t endorsed by this school
Course
CORPORATE
Subject
Accounting
Date
Feb 20, 2024
Type
xlsx
Pages
7
Uploaded by saramagallon0
2022 Common-Size Income Statements
Woodlake Plastics
$ in millions %
$ in millions %
Net Sales
$ 200 100.0%
$ 310 100.0%
Cost of goods sold
150 75.0%
205 66.1%
Gross profit
$ 50 25.0%
$ 105 33.9%
Depreciation
15 7.5%
28 9.0%
Earnings before interest and taxes
$ 35 17.5%
$ 77 24.8%
Interest paid
10 5.0%
18 5.8%
Taxable income
$ 25 12.5%
$ 59 19.0%
Taxes
5 2.5%
13 4.2%
Net Income
$ 20 10.0%
$ 46 14.8%
Easy Manucaturing Company
Looking at both companies ,I see that Easy Manufacturing had made more in both net sales and net
The cost of goods sold for woodlake was less then easy manufucturing ,which makes sense since ea
The downside is that easy manufacturing payed more in taxes than woodland.
t income.
asy manufacturing proffited more than woodland.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
2022 Common-Size Balance Sheets
Woodlake Plastics
Easy Manufacturin
$ in millions %
$ in millions Current assets
Cash
5
1.2%
8
Accounts receivable
80
19.3%
100
Inventories
100
24.1%
95
Total
185
44.6%
203
Noncurrent assets
Net plant and equipment
230
55.4%
430
TOTAL ASSETS
415
100.0%
633
Current liabilities
Accounts payable
80
19.3%
70
Notes payable
70
16.9%
100
Total
150
36.1%
170
Long-term debt
100
24.1%
205
Shareholders' equity
Common stock and paid-in surplus
90
21.7%
195
Retained earnings
75
18.1%
63
Total
165
39.8%
258
415
100.0%
633
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
ng Company
easy manufacturing seems to have more assests than woodlake c
%
1.3%
15.8%
15.0%
32.1%
67.9%
100.0%
11.1%
15.8%
26.9%
Easy manufactiuring seems to have more assests than Easy Mnufa
Easy manufacturing also has more liabilities than woodlake,but wo
32.4%
30.8%
10.0%
40.8%
100.0%
company.Easy manufacturing company has more fixed assests or long term assets, it may be because they have m
acturing company.Easy manufacturing company has more fixed assests or long term assets, it may be because they h
oodlake has higher long term debt .
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
ved.
Related Questions
Assume the following sales data for a company:
2023
$966000
2022
871000
2021
696800
If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022?
А. 25%
В. 139%
С. 125%
D. 39%
arrow_forward
Multiple Choice
Sa
O
84 times
2.06 times
1.87 times
82 times.
1.22 times
arrow_forward
Forecast income statement - ALL FIGURES IN $ MILLION
Financial year ending 31 March
2023
2024
2025
Revenue
165.0
180.0
210.0
Less: Operating expenses
120.0
128.0
145.0
Operating earnings before depreciation
45.0
52.0
65.0
Less: Depreciation
30.0
32.0
25.0
Earnings before interest and tax (EBIT)
15.0
20.0
40.0
Less: Interest expense
5.0
5.0
5.0
Earnings before tax
10.0
15.0
35.0
Less: Tax expense
2.8
4.2
9.8
Net profit (earnings)
7.2
10.8
25.2
In addition, you have collected the following information:
Operating working capital (OWC) in each year will be 10% of revenue in that year
Capital expenditure (capex) will be $25 million in each year
The corporate tax rate is 28%.
What is Electrix's free cash flow to the firm (FCF) in year 2025?
Thanks!
arrow_forward
Financial Accounting
arrow_forward
sa
arrow_forward
What are the firm's ROE for 2018 and 2019
a. 10.4%, 9.8%
b.19.7%, 16.0%
c.11.95%, 9.17%
d. 9.5%, 7.9%
arrow_forward
20
arrow_forward
Total
Net Fixed Assets
Total Assets
O 14.97
siven,
O 16.05
O 9.63
Cash
Accounts Receivable
Inventory
Click to open:
O 12.59
Net Sales
Less: Cost of Goods Sold
Less: Depriciation
Earnings before Interest and Taxes
O 10.12
Less: Interest Paid
Taxable income
Less: Taxes
Net Income
Precision Tools
2012 Income Statement
($ in Millions)
What is the times interest earned ratio for 2012?
2011
2060
3411
18776
24247
14160
38407
LE
36408
28225
1760
6423
510
5913
2070
3843
Precision Tools
2011 and 2012 Balance Sheets
($ in Millions)
2012
1003 Accounts Payable
4218 Long Term Debt
21908 Common Stock
27129 Retained Earnings
14080
41209 Total Liabilities and Equity
2011
7250
9800
15000
6357
38407
2012
8384
11500
17500
3825
41209
97
arrow_forward
Compute NET Profit margin ratio
arrow_forward
Precision Tools
2021 Income Statement
Net sales
Less: Cost of goods sold
Less: Depreciation
Earnings before interest and taxes
Less: Interest paid
$36,408
28,225
1,760
6,423
510
5,913
Taxable Income
Less: Taxes
2.070
$3.843
Net Income
Precision Tools 2020 and 2021 Balance Sheets
2020
2021
2020
2021
$
Cash
2,060
1,003
Accounts
7,250
8,384
payable
Accounts
3,411
4,218
receivable
21.908
27,129
Inventory
18,776
24,247
17,500
3.825
Common stock
Retained
earnings
Total liability &
15,000
Net fixed assets
14,160
14.080
6.357
Total assets
38.407
41,209
38,407
41,209
equity
What is the times interest earned ratio for 2021?
arrow_forward
Squat XFit Inc. reported the following ($ in millions).
Financial results
Revenue
2020
122.1
EBITDA
60.9
Interest income
7.0
Tax rate
25.0%
Interest rate on debt
5.0%
Balances as of
Net PP&E
Intangible assets
Debt
12/31/2019
12/31/2020
198.8
240.0
40.0
45.0
155.0
155.0
Purchases
Assume purchases made at year end and thus did not generate D&A in 2020
2020
Capital expenditures
75
Purchases of intangible assets
20
Calculate net income for the year ending 12/31/2020
$8.5million
O $9.1 million
O $11.4 million
○ $14.3 million
arrow_forward
2023 Income Statement
Sales
Cost of Goods Sold
$ 770,000
$ 340,000
Depreciation Expense
$
95,000
Earnings before Interest and Taxes
$ 335,000
Interest Expense
$ 19,800
Taxable Income
Tax Expense
Net Income
Dividends Paid
Retained Earnings
$ 315,200
$ 104,016
$ 211,184
$
10,300
$ 200,884
Balance Sheet
End of 2023 Beginning of 2023
Cash
$ 280,000 $
122,000
Accounts Receivable
$ 50,000 $
22,300
Inventory
$ 188,000 $
119,000
Net Fixed Assets
$ 630,000 $
630,000
Total Assets
$1,148,000 $
893.300
Accounts Payable
Long-term Debt
$ 158,000 $
$ 14,116 $
71,800
121,500
Common Stock
$ 375,000 $
300,000
Accumulated Retained Earnings
$ 600,884 $
400,000
Total Liabilities & Shareholders' Equity
$1,148,000 $
893,300
Consider the financial statements displayed above. Based on these statements, calculate the firm's quick ratio as of the
end of 2023.
Note: Report your answer as a number rounded to two decimal points.
arrow_forward
Excerpts from the annual report of XYZ Corporation follow:
2019
$675,138
$241,154
$64,150
$93,650
$25,100
2020
Cost of goods sold
Inventory
Net income
$754,661
$219,686
$31,185
$68,685
$26,900
Retained earnings
LIFO reserve
Tax rate
20%
20%
If XYZ used FIFO, its net income for fiscal 2020 would be
O a. $34,165
O b. $30,375
O c. $32,625
d. $36,545
arrow_forward
Solve for fy22 sales and depreciation a on the 2022 income statement. remember to reference the growth rate provided by Paul.of 0.141
FY21
FY22
Sales
$24884886
Blank
Cost of Goods Sold
$19659044
Other Expenses
$2735335
Depreciation
$995395
Blank
Taxable Income
$1493092
Taxes (21%)
$313549
Net Income
$1179543
Dividends
$500,000
Add. to Retained Earnings
$679543
arrow_forward
Correct answer please Q11
arrow_forward
2018
2017
Sales
$3,125.0
$2,500.0
Operating costs excluding depreciation
2,500.0
2,125.0
Depreciation and amortization
75.0
60.0
Earnings before interest and taxes
$550.0
$315.0
Less Interest
67.0
54.0
Pre-tax income
$483.0
$261.0
Taxes (40%)
193.2
104.4
Net income available to common stockholders
$289.8
$156.6
Common dividends
$261.0
$125.0
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
2018
2017
Assets
Cash
$40.0
$35.0
Short-term investments
16.0
13.0
Accounts receivable
360.0
300.0
Inventories
690.0
575.0
Total current assets
$1,106.0
$923.0
Net plant and equipment
750.0
600.0
Total assets
$1,856.0
$1,523.0
Liabilities and Equity
Accounts payable
$270.0
$225.0
Accruals
260.0
200.0
Notes payable
63.0
50.0
Total current liabilities
$593.0
$475.0
arrow_forward
ni1
arrow_forward
D4
arrow_forward
Assume the following sales data for a company:
2022 $990000
2021 866640
2020
690000
If 2020 is the base year, what is the percentage increase in sales from 2020 to 2021?
O 143%
126%
43%
26%
arrow_forward
Assume the following sales data for a company:
2026 $978000
2025
873200
2024
740000
If 2024 is the base year, what is the percentage increase in sales from 2024 to 2025?
18%
132%
118%
○ 32%
arrow_forward
ccounting
Assume the following sales data for a company:
2026
$734000
2025
655500
2024
570000
If 2024 is the base year, what is the percentage increase in sales from 2024 to 2025?
129%
29%
115%
15%
arrow_forward
Global Corp. initially projected the 2019 income statement shown in the table E. Suppose that in 2019, Global launched an aggressive marketing campaign that boosted 2019 sales further by 14.1%. However, their operating margin fell from
5.56% to 4.49% Suppose that they had no other income, interest expenses were unchanged, and taxes were the same percentage of pretax income (26%) as in 2018.
a. What was Global's EBIT in 2019?
b. What was Global's income in 2019?
c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019?
a. What was Global's EBIT in 2019?
Global's EBIT was $
million. (Round to two decimal places.)
b. What was Global's income in 2019?
Net income was $
million. (Round to two decimal places.)
c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019?
Global's share price in 2019 was $. (Round to the nearest cent.)
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you

Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Related Questions
- Assume the following sales data for a company: 2023 $966000 2022 871000 2021 696800 If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022? А. 25% В. 139% С. 125% D. 39%arrow_forwardMultiple Choice Sa O 84 times 2.06 times 1.87 times 82 times. 1.22 timesarrow_forwardForecast income statement - ALL FIGURES IN $ MILLION Financial year ending 31 March 2023 2024 2025 Revenue 165.0 180.0 210.0 Less: Operating expenses 120.0 128.0 145.0 Operating earnings before depreciation 45.0 52.0 65.0 Less: Depreciation 30.0 32.0 25.0 Earnings before interest and tax (EBIT) 15.0 20.0 40.0 Less: Interest expense 5.0 5.0 5.0 Earnings before tax 10.0 15.0 35.0 Less: Tax expense 2.8 4.2 9.8 Net profit (earnings) 7.2 10.8 25.2 In addition, you have collected the following information: Operating working capital (OWC) in each year will be 10% of revenue in that year Capital expenditure (capex) will be $25 million in each year The corporate tax rate is 28%. What is Electrix's free cash flow to the firm (FCF) in year 2025? Thanks!arrow_forward
- 20arrow_forwardTotal Net Fixed Assets Total Assets O 14.97 siven, O 16.05 O 9.63 Cash Accounts Receivable Inventory Click to open: O 12.59 Net Sales Less: Cost of Goods Sold Less: Depriciation Earnings before Interest and Taxes O 10.12 Less: Interest Paid Taxable income Less: Taxes Net Income Precision Tools 2012 Income Statement ($ in Millions) What is the times interest earned ratio for 2012? 2011 2060 3411 18776 24247 14160 38407 LE 36408 28225 1760 6423 510 5913 2070 3843 Precision Tools 2011 and 2012 Balance Sheets ($ in Millions) 2012 1003 Accounts Payable 4218 Long Term Debt 21908 Common Stock 27129 Retained Earnings 14080 41209 Total Liabilities and Equity 2011 7250 9800 15000 6357 38407 2012 8384 11500 17500 3825 41209 97arrow_forwardCompute NET Profit margin ratioarrow_forward
- Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable 21.908 27,129 Inventory 18,776 24,247 17,500 3.825 Common stock Retained earnings Total liability & 15,000 Net fixed assets 14,160 14.080 6.357 Total assets 38.407 41,209 38,407 41,209 equity What is the times interest earned ratio for 2021?arrow_forwardSquat XFit Inc. reported the following ($ in millions). Financial results Revenue 2020 122.1 EBITDA 60.9 Interest income 7.0 Tax rate 25.0% Interest rate on debt 5.0% Balances as of Net PP&E Intangible assets Debt 12/31/2019 12/31/2020 198.8 240.0 40.0 45.0 155.0 155.0 Purchases Assume purchases made at year end and thus did not generate D&A in 2020 2020 Capital expenditures 75 Purchases of intangible assets 20 Calculate net income for the year ending 12/31/2020 $8.5million O $9.1 million O $11.4 million ○ $14.3 millionarrow_forward2023 Income Statement Sales Cost of Goods Sold $ 770,000 $ 340,000 Depreciation Expense $ 95,000 Earnings before Interest and Taxes $ 335,000 Interest Expense $ 19,800 Taxable Income Tax Expense Net Income Dividends Paid Retained Earnings $ 315,200 $ 104,016 $ 211,184 $ 10,300 $ 200,884 Balance Sheet End of 2023 Beginning of 2023 Cash $ 280,000 $ 122,000 Accounts Receivable $ 50,000 $ 22,300 Inventory $ 188,000 $ 119,000 Net Fixed Assets $ 630,000 $ 630,000 Total Assets $1,148,000 $ 893.300 Accounts Payable Long-term Debt $ 158,000 $ $ 14,116 $ 71,800 121,500 Common Stock $ 375,000 $ 300,000 Accumulated Retained Earnings $ 600,884 $ 400,000 Total Liabilities & Shareholders' Equity $1,148,000 $ 893,300 Consider the financial statements displayed above. Based on these statements, calculate the firm's quick ratio as of the end of 2023. Note: Report your answer as a number rounded to two decimal points.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Fundamentals of Financial Management (MindTap Cou...FinanceISBN:9781337395250Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage Learning

Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning