CAN SOMEONE HELP ME WITH THE RATIOS? The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500 772,700 Selling and administrative expenses 519,800 472,000 Income from operations 286,700 300,700 Other expenses and losses Interest expense 17,100 14,200 Income before income taxes 269,600 286,500 Income tax expense 80,015 77,500 Net income $ 189,585 $ 209,000 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $60,600 $64,600 Debt investments (short-term) 69,100 50,300 Accounts receivable 117,500 102,800 Inventory 123,600 115,600 Total current assets 370,800 333,300 Plant assets (net) 601,200 523,900 Total assets $972,000 $857,200 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $160,600 $144,800 Income taxes payable 43,100 42,200 Total current liabilities 203,700 187,000 Bonds payable 220,000 200,000 Total liabilities 423,700 387,000 Stockholders’ equity Common stock ($5 par) 277,400 297,100 Retained earnings 270,900 173,100 Total stockholders’ equity 548,300 470,200 Total liabilities and stockholders’ equity $972,000 $857,200
CAN SOMEONE HELP ME WITH THE RATIOS? The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500 772,700 Selling and administrative expenses 519,800 472,000 Income from operations 286,700 300,700 Other expenses and losses Interest expense 17,100 14,200 Income before income taxes 269,600 286,500 Income tax expense 80,015 77,500 Net income $ 189,585 $ 209,000 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $60,600 $64,600 Debt investments (short-term) 69,100 50,300 Accounts receivable 117,500 102,800 Inventory 123,600 115,600 Total current assets 370,800 333,300 Plant assets (net) 601,200 523,900 Total assets $972,000 $857,200 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $160,600 $144,800 Income taxes payable 43,100 42,200 Total current liabilities 203,700 187,000 Bonds payable 220,000 200,000 Total liabilities 423,700 387,000 Stockholders’ equity Common stock ($5 par) 277,400 297,100 Retained earnings 270,900 173,100 Total stockholders’ equity 548,300 470,200 Total liabilities and stockholders’ equity $972,000 $857,200
Cornerstones of Financial Accounting
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Chapter11: The Statement Of Cash Flows
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CAN SOMEONE HELP ME WITH THE RATIOS?
The comparative statements of Wahlberg Company are presented here.
Wahlberg Company
Income Statement For the Years Ended December 31 |
||||||
---|---|---|---|---|---|---|
2020
|
2019
|
|||||
Net sales
|
$1,813,600 | $1,750,700 | ||||
Cost of goods sold
|
1,007,100 | 978,000 | ||||
Gross profit
|
806,500 | 772,700 | ||||
Selling and administrative expenses
|
519,800 | 472,000 | ||||
Income from operations
|
286,700 | 300,700 | ||||
Other expenses and losses
|
||||||
Interest expense
|
17,100 | 14,200 | ||||
Income before income taxes
|
269,600 | 286,500 | ||||
Income tax expense
|
80,015 | 77,500 | ||||
Net income
|
$ 189,585 | $ 209,000 |
Wahlberg Company
Balance Sheets December 31 |
||||||
---|---|---|---|---|---|---|
Assets
|
2020
|
2019
|
||||
Current assets
|
||||||
Cash
|
$60,600 | $64,600 | ||||
Debt investments (short-term)
|
69,100 | 50,300 | ||||
|
117,500 | 102,800 | ||||
Inventory
|
123,600 | 115,600 | ||||
Total current assets
|
370,800 | 333,300 | ||||
Plant assets (net)
|
601,200 | 523,900 | ||||
Total assets
|
$972,000 | $857,200 | ||||
Liabilities and
|
||||||
Current liabilities
|
||||||
Accounts payable
|
$160,600 | $144,800 | ||||
Income taxes payable
|
43,100 | 42,200 | ||||
Total current liabilities
|
203,700 | 187,000 | ||||
Bonds payable
|
220,000 | 200,000 | ||||
Total liabilities
|
423,700 | 387,000 | ||||
Stockholders’ equity
|
||||||
Common stock ($5 par)
|
277,400 | 297,100 | ||||
|
270,900 | 173,100 | ||||
Total stockholders’ equity
|
548,300 | 470,200 | ||||
Total liabilities and stockholders’ equity
|
$972,000 | $857,200 |
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