LO 5.10 Income Statement Sales (net) Less: Cost of goods sold Operating expenses Interest expense Income taxes Total expenses Net income $ 267,000 $160,000 62,000 11,000 10,000 SHOW ME HOW (243,000) 24,000 Coprige Cmpugs Laming A Rign Roval. May se cogkol. samed. er dplicanda k er ia part Due to dedseik gte tt pary c ay be mpred tre de ak ndir Chuari 64 Chapter 5 The Income Statement and the Statement of Cash Flows Balance Sheet $ 10,000 Current liabilities Bonds payable, 10% Common stock, $10 par Additional paidin capital Retained earnings Total Liabilities and Shareholders' Equity Cash $ 40,000 Receivables (nel) Inventory Long-term investments Property and equipment (net) Total Assets 22,000 56,000 30,000 282,000 $400,000 110,000 100,000 95,000 55,000 $400,000 Additional information: 1. The company's common 2. Dividends of S1.50 per share on the common stock were declared in 2019. 3. On December 31, 2019, common stock is selling for $20 per share. 4. On January 1, 2019, the accounts receivable (net) balance was $24,000, total assets amounted to S380,000, and total sharcholders' equity was S241,000. 5. Of the company's net sales, 78% are on credit. 6. The company operates on a 365-day business year. ock was outstanding the entire year.
LO 5.10 Income Statement Sales (net) Less: Cost of goods sold Operating expenses Interest expense Income taxes Total expenses Net income $ 267,000 $160,000 62,000 11,000 10,000 SHOW ME HOW (243,000) 24,000 Coprige Cmpugs Laming A Rign Roval. May se cogkol. samed. er dplicanda k er ia part Due to dedseik gte tt pary c ay be mpred tre de ak ndir Chuari 64 Chapter 5 The Income Statement and the Statement of Cash Flows Balance Sheet $ 10,000 Current liabilities Bonds payable, 10% Common stock, $10 par Additional paidin capital Retained earnings Total Liabilities and Shareholders' Equity Cash $ 40,000 Receivables (nel) Inventory Long-term investments Property and equipment (net) Total Assets 22,000 56,000 30,000 282,000 $400,000 110,000 100,000 95,000 55,000 $400,000 Additional information: 1. The company's common 2. Dividends of S1.50 per share on the common stock were declared in 2019. 3. On December 31, 2019, common stock is selling for $20 per share. 4. On January 1, 2019, the accounts receivable (net) balance was $24,000, total assets amounted to S380,000, and total sharcholders' equity was S241,000. 5. Of the company's net sales, 78% are on credit. 6. The company operates on a 365-day business year. ock was outstanding the entire year.
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Byers Company presents the following condensed income statement for 2019 and condensed December 31, 2019, balance sheet: Compute the following ratios for Byers ( round all computations to two decimals): ( 1) earnings per share, ( 2) gross profit margin, ( 3) operating profit margin, ( 4) net profit margin, ( 5) total asset turnover, ( 6) return on assets, (7) return on common equity, (8) receivables turnover (in days), and (9 ) interest coverage.
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