Here are comparative balance sheets for Fateem Company. FATEEM COMPANY Comparative Balance Sheets December 31 Assets 2010 2009   Cash $ 73,000 $ 22,000 Accounts receivable 85,000 76,000 Inventories 170,000 189,000 Land 75,000 100,000 Equipment 260,000 200,000 Accumulated depreciation (66,000) (32,000) Total $597,000 $555,000   Liabilities and Stockholders’ Equity

Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:   Current Year Previous Year Current assets $289,000   $172,260   Property, plant, and equipment 467,500   427,460   Intangible assets 93,500   38,280   Current liabilities 204,000   114,840   Long-term liabilities 306,000   229,680   Common stock 76,500   82,940   Retained earnings 263,500   210,540   Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31   CurrentyearAmount CurrentyearPercent PreviousyearAmount PreviousyearPercent Current assets $289,000 fill in the blank 1% $172,260 fill in the blank 2% Property, plant, and equipment…

Practice Problem  Below are the balance sheet and income statement for Major, Inc. December 31  2007 2006Cash  $  29,700  $  10,200 Accounts receivable (net)   53,400   20,300 Inventory   39,000   42,000 Long-term investments   0   15,000 Plant Assets, net of depreciation   180,900   125,000 Total Assets $303,000 $212,500Accounts payable  $  16,000  $  26,500 Accrued liabilities   28,000   17,000 Long-term notes payable   40,000   50,000 Common stock   150,000   90,000 Retained earnings   69,000   29,000 Total Liabilities and Owner’s Equity $303,000 $212,500Year ended December 31, 2007Sales Revenue    $340,000 Cost of Goods Sold     (200,000) Operating Expenses       (58,400) Depreciation Expense      (10,600) Gain on sale of investments   4,000Net Income   $  75,000Additional information:  A) In 2007, Major, Inc didn’t sell plant asset and didn’t purchase additional investment.B) In 2007, no shares were repurchased and no new debt was issued. 1. Prepare the Statement of Cash Flows…

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Current Assets Cash A/R Inventory Total Net Plant & Equip Total Assets Tomson Corporation 2013 and 2014 Statement of Financial Position Assets 2013 $ 8,436 21,530 38.760 $ 68,726 $ 226.706 $295,432 2014 $ 10,157 23,406 42.650 $ 76,213 Current Liabilities A/P Notes Payable Total 1. The current ratio for each year 2. The quick ratio for each year Long-term Debt Owner's Equity Common Stock & Paid-in Surplus Retained Earnings $248,306 Total Total Liabilities & $324,519 Owners Equity Liabilities 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 2013 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Round all answers to 2 decimal places. $ 43,050 18.384 $61.434 $ 25.000 $ 40,000 168.998 $ 208,998 $ 295,432 2014 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places…

Balance sheet data for X Corporation and Z Company on December 31, 2015 are given below: Cash Accounts receivable PPE Investment in Garnet Total assets Current liabilities Long term liabilities Ordinary share Retained earnings Total liabilities and stockholders' equity X Corp. Z. Co. 70,000 90,000 100,000 60,000 500,000 250,000 260,000 930,000 400,000 180,000 60,000 200,000 90,000 300,000 100,000 250,000 150,000 930,000 400,000 X Corporation purchased 80% interest in Z Company on December 31, 2015 for P260,000. Z Company's property and equipment had a fair value of P50,000 more than the book value shown above. All other book values approximated fair value. Fair value method was elected to be used in measuring the non-controlling interest. Fair value of non- controlling interest on acquisition date was P58,000. In the consolidated balance sheet on December 31, 2015: a. The amount of total stockholders' equity to be reported will be? b. The amount of non-controlling interest will be?

Assume a company had net Income of $72,000 and provided the following excerpts from its balance sheet: This Year Last Year Current assets: $40,000 $53,000 $13,000 $46,000 $50,000 $11,000 Accounts receivable Inventory Prepaid expenses Current liabilities: $38,000 $18,000 $13,000 $44,000 $15,000 $10,000 Accounts payable Accrued liabilities Income taxes payable If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the informatlon provlded, the company's net cash provided by (used in) operating activities would be: Multiple Cholce $94,000. $52,000. $68,000. $92,000.

Changes in Various RatiosPresented below is selected information for Brimmer Company:   2013 2012 Sales revenue $911,000 $840,000 Cost of goods sold 576,000 542,000 Interest expense 21,000 20,000 Income tax expense 28,000 24,000 Net income 62,000 52,000 Cash flow from operating activities 66,000 55,000 Capital expenditures 43,000 45,000 Accounts receivable (net), December 31 127,000 120,000 Inventory, December 31 197,000 160,000 Stockholders' equity, December 31 451,000 400,000 Total assets, December 31 731,000 660,000 RequiredCalculate the following ratios for 2013. The 2012 results are given for comparative purposes. Round answers to one decimal place. Use 365 days in a year.   2012   2013   1. Gross profit percentage 35.5%   Answer % 2. Return on assets 8.3%   Answer % 3. Return on sales 6.2%   Answer % 4. Return on common stockholders' equity         (no preferred stock was outstanding) 13.9%   Answer % 5. Accounts receivable…

Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Assets Net income Dividends Retained earnings $ 2,757 $ 2,881 4,712 12,698 5,671 13,672 $20,291 $ 22,100 1. Profit margin n. Return on equity SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 $57,432 $77,723 $12,015 24,206 Short-term solvency ratios a. Current ratio b. Quick ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio Profitability ratios $ 83,529 $105,629 $189,570 127,303 5,223 $ 57,044 1,320 $ 55,724 19,503 $36,221 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated…