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Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit for the year Show Transcribed Text Assets Current assets Cash Accounts receivable Inventory Total current assets Total assets Property, plant, and equipment Show Transcribed Text 2024 $1,854,990 Total current liabilities Mortgage payable Total liabilities 990,790 864,200 504,050 360,150 26,450 333,700 100,110 $233,590 Liabilities and Shareholders' Equity Current liabilities Accounts payable Income tax payable Current portion of mortgage payable Total current liabilities 2023 $1,868,180 876,350 991,830 468,340 523,490 20,770 502,720 THE ORIOLE COMPANY LTD. Balance Sheet December 31 150,816 $351,904 3 Shareholders' equity Common shares (50,300 issued in 2024; 54,490 in 2023) Retained earnings 2024 $79,606 103,011 150,890 43,970 10,870 194,740 333,507 636,781 $970,288 $868,835 194,740 $139,900 $114,897 104,680 299,420 2023 150,900 $63,742 519,968 107,557 119,310 290,609 578,226 38,500 20,430 173,827 173,827 210,900 384,727 163,470 320,638

Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit for the year Show Transcribed Text Assets Current assets Cash Accounts receivable Inventory Total current assets Total assets Property, plant, and equipment Show Transcribed Text 2024 $1,854,990 Total current liabilities Mortgage payable Total liabilities 990,790 864,200 504,050 360,150 26,450 333,700 100,110 $233,590 Liabilities and Shareholders' Equity Current liabilities Accounts payable Income tax payable Current portion of mortgage payable Total current liabilities 2023 $1,868,180 876,350 991,830 468,340 523,490 20,770 502,720 THE ORIOLE COMPANY LTD. Balance Sheet December 31 150,816 $351,904 3 Shareholders' equity Common shares (50,300 issued in 2024; 54,490 in 2023) Retained earnings 2024 $79,606 103,011 150,890 43,970 10,870 194,740 333,507 636,781 $970,288 $868,835 194,740 $139,900 $114,897 104,680 299,420 2023 150,900 $63,742 519,968 107,557 119,310 290,609 578,226 38,500 20,430 173,827 173,827 210,900 384,727 163,470 320,638

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.16E
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Total shareholders' equity Total liabilities and shareholders' equity Additional information: 1. 2. 3. 4. 5. 6. Show Transcribed Text 1. Liquidity Ratios 2. 3. 4. Calculate all possible liquidity, solvency, and profitability ratios for 2024. (Round answers for collection period, days sales in inventory, operating cycle and free cash flow to 0 decimal places, e.g. 125. Round answer for earnings per share to 2 decimal places, e.g. 12.56. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Use 365 days for calculation. Do not round intermediate calculations.) 5. 6. 7. 11. 12. All sales were on account. 13. 14. 15. 16. 17. The allowance for doubtful accounts was $5,823 in 2024 and $4,777 in 2023. On July 1, 2024, 4,190 shares were reacquired for $10 per share and cancelled. In 2024, $4,930 of dividends were paid to the common shareholders. Cash provided by operating activities was $336,911. Cash used by investing activities was $157,309. Current ratio Show Transcribed Text Acid-test ratio Profitability Ratios Receivables turnover Collection period Inventory turnover Days sales in inventory Operating cycle Gross profit margin Profit margin Asset turnover Return on assets Return on shareholders' equity Earnings per share Payout ratio 1.7 $ 0.9 VOTU 670,868 $970,288 20.3 times 18 68 days 7.3 times 50 days days 46.6 % 12.6 % 2.0 25.4 % 40.4 3.81 1.9 484,108 $868,835 times % %
Transcribed Image Text:Total shareholders' equity Total liabilities and shareholders' equity Additional information: 1. 2. 3. 4. 5. 6. Show Transcribed Text 1. Liquidity Ratios 2. 3. 4. Calculate all possible liquidity, solvency, and profitability ratios for 2024. (Round answers for collection period, days sales in inventory, operating cycle and free cash flow to 0 decimal places, e.g. 125. Round answer for earnings per share to 2 decimal places, e.g. 12.56. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Use 365 days for calculation. Do not round intermediate calculations.) 5. 6. 7. 11. 12. All sales were on account. 13. 14. 15. 16. 17. The allowance for doubtful accounts was $5,823 in 2024 and $4,777 in 2023. On July 1, 2024, 4,190 shares were reacquired for $10 per share and cancelled. In 2024, $4,930 of dividends were paid to the common shareholders. Cash provided by operating activities was $336,911. Cash used by investing activities was $157,309. Current ratio Show Transcribed Text Acid-test ratio Profitability Ratios Receivables turnover Collection period Inventory turnover Days sales in inventory Operating cycle Gross profit margin Profit margin Asset turnover Return on assets Return on shareholders' equity Earnings per share Payout ratio 1.7 $ 0.9 VOTU 670,868 $970,288 20.3 times 18 68 days 7.3 times 50 days days 46.6 % 12.6 % 2.0 25.4 % 40.4 3.81 1.9 484,108 $868,835 times % %
Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit for the year Show Transcribed Text Assets Current assets Cash Accounts receivable Inventory Total current assets Total assets Property, plant, and equipment Total current liabilities Show Transcribed Text Total current liabilities 2024 $1,854,990 Mortgage payable Total liabilities 990,790 864,200 504,050 360,150 26,450 Liabilities and Shareholders' Equity Current liabilities 333,700 Accounts payable Income tax payable Current portion of mortgage payable 100,110 $233,590 2023 $1,868,180 876,350 991,830 468,340 523,490 20,770 502,720 150,816 THE ORIOLE COMPANY LTD. Balance Sheet December 31 $351,904 3 Shareholders' equity Common shares (50,300 issued in 2024; 54,490 in 2023) Retained earnings 2024 $79,606 103,011 150,890 333,507 636,781 43,970 10,870 194,740 194,740 $970,288 $868,835 104,680 $139,900 $114,897 299,420 2023 150,900 $63,742 107,557 519,968 119,310 290,609 578,226 38,500 20,430 173,827 173,827 210,900 384,727 163,470 320,638
Transcribed Image Text:Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit for the year Show Transcribed Text Assets Current assets Cash Accounts receivable Inventory Total current assets Total assets Property, plant, and equipment Total current liabilities Show Transcribed Text Total current liabilities 2024 $1,854,990 Mortgage payable Total liabilities 990,790 864,200 504,050 360,150 26,450 Liabilities and Shareholders' Equity Current liabilities 333,700 Accounts payable Income tax payable Current portion of mortgage payable 100,110 $233,590 2023 $1,868,180 876,350 991,830 468,340 523,490 20,770 502,720 150,816 THE ORIOLE COMPANY LTD. Balance Sheet December 31 $351,904 3 Shareholders' equity Common shares (50,300 issued in 2024; 54,490 in 2023) Retained earnings 2024 $79,606 103,011 150,890 333,507 636,781 43,970 10,870 194,740 194,740 $970,288 $868,835 104,680 $139,900 $114,897 299,420 2023 150,900 $63,742 107,557 519,968 119,310 290,609 578,226 38,500 20,430 173,827 173,827 210,900 384,727 163,470 320,638
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