Coronado Company's condensed financial statements provide the following information. Cash CORONADO COMPANY BALANCE SHEET Accounts receivable (net) Short-term investments Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Total assets Current liabilities Bonds payable Dec. 31, 2020 $52,100 197,700 80,800 442,700 3,000 $776,300 849,900 $1,626,200 237,700 401,800 Dec. 31, 2019 $60,200 80,800 39,600 360,200 6,900 $547,700 849,900 $1,397,600 155,700 401,800
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- Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of fixed assets to long-term liabilitiesPresented below is the balance sheet for HHD, Inc., at December 31, 2018.Balance sheetpreparation● LO3–2 , LO3–3Current assets $ 600,000Investments 500,000Property, plant, and equipment 2,000,000Intangible assets 200,000Total assets $3,300,000Current liabilities $ 400,000Long-term liabilities 1,100,000Shareholders’ equity 1,800,000Total liabilities and shareholders’ equity $3,300,000The captions shown in the summarized statement above include the following:a. Current assets: cash, $150,000; accounts receivable, $200,000; inventories, $225,000; and prepaid insurance, $25,000.b. Investments: investments in common stock, short term, $90,000, and long term, $160,000; and restrictedcash, long term, $250,000.c. Property, plant, and equipment: buildings, $1,500,000 less accumulated depreciation, $600,000; equipment,$500,000 less accumulated depreciation, $200,000; and land, $800,000.d. Intangible assets: patent, $110,000; and copyright, $90,000.e. Current liabilities: accounts payable,…A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
- Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earningsGiven : Total Assets :120.000,Long Term Liabilities : 20.000,Current Assets :80.000, and,Current Liabilities : 60.000Net Profits : 24.000Choose the incorrect Answera) Total Liabilities / Total Sources : 0,67b) Total Debt / Equity :1c) Current Ratio: 1,33d) Return on assets : 0,20The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…
- The comparative statement of financial position for Moose Jaw Ltd. is as follows:Moose Jaw Ltd.Comparative Statement of Financial PositionAs at December 312021 2020Cash $20,500 $12,500Accounts receivable 34,000 25,500Inventories 20,000 30,000Prepaid insurance 2,500 2,000Equipment 102,000 90,000Accumulated depreciation - equipment (22,500) (12,500)Total assets $156,500 $147,500Accounts payable $23,000 $20,000Interest payable 2,000 3,000Wages payable 4,000 2,000Income taxes payable 4,000 5,000Long-term note payable 30,000 34,500Common shares 65,000 65,000Retained earnings 28,500 18,000Total liabilities and equity $156,500 $147,500More information about Moose Jaw’s operations for 2021:• A machine which the company paid $10,000 for was sold for a gain of$1,000. The equipment’s accumulated depreciation was $7,000.• The company had net income for of $13,500.RequiredConstruct the operating activities section of Moose Jaw Ltd.’s statement of cashflows using the indirect method. Use proper…Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…ShafNita Sdn. Bhd. Statement of Financial Position as at 31 December2019 2020RM RM RM RM Non Current AssetsBuilding 100,000 100,000Fixtures less accumulated depreciation 3,600 4,000Van less accumulated depreciation 7,840 14,800111,440 118,800 Current AssetInventory 11,200 24,800Trade account receivable 12,800 16,400Bank 1,800 -Cash 440 400 26,240 41,600Total assets 137,680 160,400Finance by:Capital account:Balance at 1 January 74,080 105,080Add: Net profit for the year 70,400 42,320Cash introduced - 20,000144,480 167,400Less: Drawings (39,400) (43,200)105,080 124,200 Non Current LiabilitiesLoan (repayable in 10 years time) 20,000 30,000Current LiablitiesAccount Payable 12,600 6,012Bank overdraft - 188Retained earnings 32,600 36,200Total liabilities and equity 137,680 160,400 Additional information at 31 December 2020: Fixtures bought in 2020 cost RM800. Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December…
- If the company's assets in TL: cash 100.000, accounts receivable 50.000, inventory 150.000, and building 200.000 (market value 300.000) and the liabilities 300.000. How much is the net assets under recorded value approach? Select one: a. 300.000 b. 400.000 c. 200.000 d. 600.000Computational (Show your computations. Round off as follows: e.g. ₩10.64=> ₩11, 0.123456 => 12.35%, 2.4321 => 2.43) . KG Co. had total assets of ₩1,200,000, total liabilities of ₩500,000, and retainedearnings of ₩300,000 at the beginning of 20x1. For the year, the corporationdeclared cash dividends of ₩50,000. At the end of the year, the company hadtotal assets of ₩1,400,000 and showed the debt ratio of 0.4. The company hadno accumulated other comprehensive income.1) Compute the total stockholders’ equity at the end of 20x1. 2) Compute KG’s net profit for 20x1, assuming no change in contributed capitalduring the yearIf given the following information: Current Assets - 2073Current Liabilities - 1634Cash - 1182Inventory - 316Net working capital - 934Total Assets - 3873Average Daily Operating Costs - 344 Find the Current Ratio.