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20X4 20X3 Cash and Cash Equivalents P 470,310| P 519,860 Accounts Receivable, net 660,110 ? Inventory Prepaid Expenses 653,060 555,480 173,740 228,810 Total Current Assets ? 1,869,320 5,501,660 Property, Plant, and Equipment, net Intangible Assets Total Assets 5,910,530 745,200 P8,612,950 P8,092,890 Current Liabilities P? P1,123,700 Long-term Liabilities 577,580 541,540

20X4 20X3 Cash and Cash Equivalents P 470,310| P 519,860 Accounts Receivable, net 660,110 ? Inventory Prepaid Expenses 653,060 555,480 173,740 228,810 Total Current Assets ? 1,869,320 5,501,660 Property, Plant, and Equipment, net Intangible Assets Total Assets 5,910,530 745,200 P8,612,950 P8,092,890 Current Liabilities P? P1,123,700 Long-term Liabilities 577,580 541,540

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13MCQ
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Red Garnet Company Statement of Financial Position As of December 31 Year Year 20X4 20X3 Cash and Cash Equivalents P 470,310 P 519,860 Accounts Receivable, net 660,110 ? Inventory 653,060 555,480 Prepaid Expenses 173,740 228,810 Total Current Assets ? 1,869,320 Property, Plant, and Equipment, net 5,910,530 5,501,660 Intangible Assets 745,200 Total Assets P8,612,950 P8,092,890 Current Liabilities P? P1,123,700 Long-term Liabilities 577,580 541,540 Total Liabilities ? 1,665,240 Red Garnet, Capital 6.762,320 6,427,650 Total Liabilities and Owner's Equity P8,612,950 Red Garnet Company Statement of Comprehensive Income For the years ended December 31 20X4 20X3 P5,385,860 P4,921,850 1,374,790 Sales Revenue Cost of Goods Sold ? Gross Profit ? 3,666,990 Selling and Administrative Expenses Operating Income 3,406,460 3,127,150 ? 539,840 Interest Expense 11,820 23,040 Net Income P_592,790 P? Required: 1. Compute for the missing amounts. 2. Prepare a financial analysis as follows: a. Vertical analysis b. Horizontal analysis с. Financial ratios
Transcribed Image Text:Red Garnet Company Statement of Financial Position As of December 31 Year Year 20X4 20X3 Cash and Cash Equivalents P 470,310 P 519,860 Accounts Receivable, net 660,110 ? Inventory 653,060 555,480 Prepaid Expenses 173,740 228,810 Total Current Assets ? 1,869,320 Property, Plant, and Equipment, net 5,910,530 5,501,660 Intangible Assets 745,200 Total Assets P8,612,950 P8,092,890 Current Liabilities P? P1,123,700 Long-term Liabilities 577,580 541,540 Total Liabilities ? 1,665,240 Red Garnet, Capital 6.762,320 6,427,650 Total Liabilities and Owner's Equity P8,612,950 Red Garnet Company Statement of Comprehensive Income For the years ended December 31 20X4 20X3 P5,385,860 P4,921,850 1,374,790 Sales Revenue Cost of Goods Sold ? Gross Profit ? 3,666,990 Selling and Administrative Expenses Operating Income 3,406,460 3,127,150 ? 539,840 Interest Expense 11,820 23,040 Net Income P_592,790 P? Required: 1. Compute for the missing amounts. 2. Prepare a financial analysis as follows: a. Vertical analysis b. Horizontal analysis с. Financial ratios
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