Condensed balance sheet and income statement data for Coronado Corporation are presented here. Coronado Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,700 $ 17,300 $ 17,100 Accounts receivable (net) 49,500 45,800 49,000 Other current assets 89,800 95,700 63,900 Investments 55,100 69,300 45,600 Property, plant, and equipment (net) 500,800 369,900 358,000 $724,900 $598,000 $533,600 Current liabilities $84,500 $80,200 $69,100 Long-term debt 145,100 84,100 49,100 Common stock, $10 par 354,000 321,000 308,000 Retained earnings 141,300 112,700 107,400 $724,900 $598,000 $533,600 Coronado Corporation Income Statements For the Years Ended December 31 2022 2021 Sales $744,500 $606,300 Less: Sales returns and allowances 40,900 29,700 Net sales 703,600 576,600 Cost of goods sold 426,600 369,000 Gross profit 277,000 207,600 Operating expenses (including income taxes) 178,496 155,706 Net income $ 98,504 $ 51,894 Additional information: 1. The market price of Jergan’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration.
Condensed balance sheet and income statement data for Coronado Corporation are presented here. Coronado Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,700 $ 17,300 $ 17,100 Accounts receivable (net) 49,500 45,800 49,000 Other current assets 89,800 95,700 63,900 Investments 55,100 69,300 45,600 Property, plant, and equipment (net) 500,800 369,900 358,000 $724,900 $598,000 $533,600 Current liabilities $84,500 $80,200 $69,100 Long-term debt 145,100 84,100 49,100 Common stock, $10 par 354,000 321,000 308,000 Retained earnings 141,300 112,700 107,400 $724,900 $598,000 $533,600 Coronado Corporation Income Statements For the Years Ended December 31 2022 2021 Sales $744,500 $606,300 Less: Sales returns and allowances 40,900 29,700 Net sales 703,600 576,600 Cost of goods sold 426,600 369,000 Gross profit 277,000 207,600 Operating expenses (including income taxes) 178,496 155,706 Net income $ 98,504 $ 51,894 Additional information: 1. The market price of Jergan’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.4: Analyzing Financial Statements Using Financial Ratios
Problem 1OYO
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Question
Condensed balance sheet and income statement data for Coronado Corporation are presented here.
Coronado Corporation
Balance Sheets December 31 |
|||||||||
---|---|---|---|---|---|---|---|---|---|
2022
|
2021
|
2020
|
|||||||
Cash
|
$ 29,700 | $ 17,300 | $ 17,100 | ||||||
|
49,500 | 45,800 | 49,000 | ||||||
Other current assets
|
89,800 | 95,700 | 63,900 | ||||||
Investments
|
55,100 | 69,300 | 45,600 | ||||||
Property, plant, and equipment (net)
|
500,800 | 369,900 | 358,000 | ||||||
$724,900 | $598,000 | $533,600 | |||||||
Current liabilities
|
$84,500 | $80,200 | $69,100 | ||||||
Long-term debt
|
145,100 | 84,100 | 49,100 | ||||||
Common stock, $10 par
|
354,000 | 321,000 | 308,000 | ||||||
|
141,300 | 112,700 | 107,400 | ||||||
$724,900 | $598,000 | $533,600 |
Coronado Corporation
Income Statements For the Years Ended December 31 |
||||||
---|---|---|---|---|---|---|
2022
|
2021
|
|||||
Sales
|
$744,500 | $606,300 | ||||
Less: Sales returns and allowances
|
40,900 | 29,700 | ||||
Net sales
|
703,600 | 576,600 | ||||
Cost of goods sold
|
426,600 | 369,000 | ||||
Gross profit
|
277,000 | 207,600 | ||||
Operating expenses (including income taxes)
|
178,496 | 155,706 | ||||
Net income
|
$ 98,504 | $ 51,894 |
Additional information:
1. | The market price of Jergan’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. | |
2. | You must compute dividends declared. All declared dividends were paid in cash in the year of declaration. |
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