gures are in millions. Total assets Total liabilities Net sales Net income December 31, 2019 $930.90 197.10 515.70 80.70 December 31, 2018 $920.10 208.60 517.40 67.20 ind Asset turnover, return on assets and profit margin on sales for the ear 2019?
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- Asset Efficiency Ratios Rumsford Inc.s financial statements for 2019 indicate the following account balances: Required: 1. Using this information, calculate Rumsfords receivable turnover ratio. (Note: Round to two decimal places.) 2. Using this information, calculate Rumsfords asset turnover ratio and also convert the ratio into days.Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?
- Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020. Prepare Hellers partial income statements (through gross profit) for 2019 and 2020. RE22-2 Heller Company began operations in 2019 and used the LIFO method to compute its 300,000 cost of goods sold for that year. At the beginning of 2020, Heller changed to the FIFO method. Heller determined that its cost of goods sold under FIFO would have been 250,000 in 2019. For 2020, Hellers cost of goods sold under FIFO was 360,000, while it would have been 410,000 under LIFO. Heller is subject to a 21% income tax rate. Compute the cumulative effect of the retrospective adjustment on prior years income (net of taxes) that Heller would report on its retained earnings statement for 2020.Calculate the 2019 inventory turnover, days sales outstanding (DSO), fixed assets turnover, and total assets turnover. How does Computrons utilization of assets stack up against that of other firms in its industry?Fill in thr blanks on the table below and show the formulas used for each value Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2019 2018 2019 2018 Sales $ 178,909 $ 187,510 100.0% 100.0% Cost of Sales 111,631 59.5% Gross Operating Profit $ 75,879 40.5% Selling, General & Admin. Expense 12,900 6.9% Other Expenses 33,377 17.8% EBITDA $ 29,602 15.8% Depreciation & Amortization 7,944 4.2% EBIT $ 21,658 11.6% Other Income, Net 3,323 1.8% Earnings Before Interest and Taxes $ 24,981 13.3% Interest Expense 293 0.2% Earnings Before Taxes $ 24,688 13.2% Income Taxes 5,184 0.21 tax rate Net Income Available to Common $ 19,504 10.4% Dividends per share $ 1.15 $ 0.91 EPS…
- Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…Kincaid Company reported the following data (in millions) for the past two years:2019 2018$$$$$2801501304090$$$$$2501401103575Net revenues........................................Cost of goods sold...............................Gross profit..........................................Operating expenses..............................Operating income................................In a vertical analysis of 2019, the operating expenses percentage is closest toa. 225%.b. 69%.c. 14%.d. 32%.The comparative balance sheets for 2021 and 2020 are given below for Surmise Company. Net income for 2021 was $58 million. SURMISE COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in millions) 2021 2020 Assets Cash $ 90 $ 98 Accounts receivable 78 84 Less: Allowance for uncollectible accounts (15 ) (6 ) Prepaid expenses 10 5 Inventory 121 110 Long-term investment 63 35 Land 76 76 Buildings and equipment 311 215 Less: Accumulated depreciation (103 ) (86 ) Patent 13 15 $ 644 $ 546 Liabilities Accounts payable $ 7 $ 19 Accrued liabilities 2 8 Notes payable 26 0 Lease liability 89 0 Bonds payable 53 99 Shareholders’ Equity Common stock 58 50 Paid-in capital—excess of par 247 205…
- Compute Net Operating Assets Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets $40,114 $38,887 Nonoperating assets 1,689 3,415 Total assets $41,803 $42,302 Operating liabilities $15,845 $15,245 Nonoperating liabilities 27,742 25,677 Total liabilities $43,587 $40,922 Net sales $102,793 Operating expense before tax 88,039 Net operating profit before tax (NOPBT) 14,754 Other expense 925 Income before tax 13,829 Tax expense 3,263 Net income $10,566 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018. $ millions February 3, 2019 January 28, 2018 Net operating assets (NOA) Answer AnswerPresented below are the year-end balance of the assets and liabilitiespertaining to Starlight Merchandising 2020 2019Cash P150,000 P120,000Equity investment at FVPL 260,000 230,000AR, net 360,000 400,000Inventories 705,000 635,000Prepaid Expenses 130,000 128,000Accounts payable 182,000 136,000Other current liabilities 141,000 125,000Bonds Payable 200,000 200,000Additional investment made by the owner during 2020 was P150,000 but a P200,000 personal liability was paid out of company's funds. What is the company's profit or loss for the year ended December 31, 2020? 30,000 800,000 Answer not given 140,000 700,000The following information for 2021 and 2020 is presented for BuyRite: December 31Assets 2021 2020Current assets:Cash $42,000 $54,000Accounts receivable 580,000 445,000Inventory 5,010,000 4,950,000Prepaid expenses 84,000 79,000Total current assets 5,716,000 5,528,000Building and equipment, net 1,097,000 1,095,000Total assets $6,813,000 $6,623,000 Liabilities and Stockholders’ EquityCurrent…
