Balance Sheet as of December 31, 2018 2018 $ 125,000 $ 375,000 550,000 $ 1,050,000 2,750,000 (1,200,000) $1,550,000 $2,600,000 Assets Cash Accounts receivable Inventory Total current assets Grossfixed assets Accumulated depreciation Net fixed assets TOTAL ASSETS Debt (Liabilities) and Equity $ 150,000 150,000 $ 300,000 Accounts payable Short-term notes Total current liabilities Long-tem debt Total debt 600,000 $ 900,000 $ 900,000 800,000 $1,700,000 $ 2,600,000 Common stock Retained earnings Total owners' equity TOTAL DEBT AND EQUITY Income Statement for the Year ending December 31, 2018 $1,450,000 (850,000) $ 600,000 (240,000) $ 360,000 (64,000) $ 296,000 (118,000) $ 178.000 Sales Cost of goods sold Gross profits Operating expenses Operating profits Interest expense Profits beforetaxes Тахes Net profits Industry Norms Current ratio 3.25 Retum on assets 15.0% Operating profit margin 20.0% Total asset turnover 0.75 Debt ratio 0.20 Retum on equity 9.0%

Balance Sheet as of December 31, 2018 2018 $ 125,000 $ 375,000 550,000 $ 1,050,000 2,750,000 (1,200,000) $1,550,000 $2,600,000 Assets Cash Accounts receivable Inventory Total current assets Grossfixed assets Accumulated depreciation Net fixed assets TOTAL ASSETS Debt (Liabilities) and Equity $ 150,000 150,000 $ 300,000 Accounts payable Short-term notes Total current liabilities Long-tem debt Total debt 600,000 $ 900,000 $ 900,000 800,000 $1,700,000 $ 2,600,000 Common stock Retained earnings Total owners' equity TOTAL DEBT AND EQUITY Income Statement for the Year ending December 31, 2018 $1,450,000 (850,000) $ 600,000 (240,000) $ 360,000 (64,000) $ 296,000 (118,000) $ 178.000 Sales Cost of goods sold Gross profits Operating expenses Operating profits Interest expense Profits beforetaxes Тахes Net profits Industry Norms Current ratio 3.25 Retum on assets 15.0% Operating profit margin 20.0% Total asset turnover 0.75 Debt ratio 0.20 Retum on equity 9.0%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets    241.220    185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets    430.200    362.640 Total Liabilities and Shareholders' Equity Payables 83.240         57.48 Current Debt 2.700           2.64 Total Current Liabilities       85.940      60.120 Long-Term Debt 122.000      119.62 Other Liabilities 21.880         22.58 Total Liabilities    229.820    202.320 Common Stock 200.380      160.32 Total Equity       200.38      160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M)       488.10…
SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets    241.220    185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets    430.200    362.640 Total Liabilities and Shareholders' Equity Payables 83.240         57.48 Current Debt 2.700           2.64 Total Current Liabilities       85.940      60.120 Long-Term Debt 122.000      119.62 Other Liabilities 21.880         22.58 Total Liabilities    229.820    202.320 Common Stock 200.380      160.32 Total Equity       200.38      160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M)       488.10…
SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets    241.220    185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets    430.200    362.640 Total Liabilities and Shareholders' Equity Payables 83.240         57.48 Current Debt 2.700           2.64 Total Current Liabilities       85.940      60.120 Long-Term Debt 122.000      119.62 Other Liabilities 21.880         22.58 Total Liabilities    229.820    202.320 Common Stock 200.380      160.32 Total Equity       200.38      160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M)       488.10…