P15.7 hicago/financial-actountilig/itctSign inRegisterO DownloadA SaveShare capital-ordinary, €1 par400,000000'000'ERetained carnings375,0003,375,000Total cquity3,300,000000'S4,125,000Long-term notes payableCurrent liabiliticsTotal liabilitiesTotal cquity and liabilities000'00S'L3Additional information:1. The accounts receivable turnover for 2020 is 8 times.2. All sales are on account.3. The profit margin for 2020 is 14.5%.4. Return on assets is 20% for 2020.5. The current ratio on December 31, 2020, is 2.5.6. The inventory turnover for 2020 is 4.9 times.15-46 CHAPTER 15 Financial Analysis: The Big PictureInstructionsCompute the missing information given the ratios above. Show computations. (Note: Start with one ratioand derive as much information as possible from it before trying another ratio. List all missing amountsunder the ratio used to find the information.)Prepare statement of comprehensiveincome with discontinued operutionsPI5.8 (LO 3) Violet Bick SA owns a number of cruise ships and a chain of hotels. The hotels, whichhave not been profitable, were discontinued on September 1, 2020. The 2020 operating results for theO Helpcompany were as follows.OO0 U00 C19 O DownloadA Sag. Return on assets.P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state-set of ratios.Compute missing information given aments of financial position of Bondi ASA.Bondi ASAIncome StatementFor the Year Ended December 31, 2020€10,500,000Net salesPjos spoos jo 1soGross profitOperating expensesIncome from operationsInterest expenseIncome before income taxesIncome tax expense550,000Net incomeBondi ASAStatements of Financial PositionDecember 3120202019Assets€4,355,000Plant assets (net)Current assets€4,620,0001,720,000Accounts receivable (net)Cash3,145,000Total current assetsO Help€7,500,000Total assets2020610Equity and LiabilitiesShare capital-ordinary, €l par7:10 AMENG

Net income=Net sale×Profit Margin=€10,500,000×14.5%=€1,522,500

P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Bondi ASA Statements of Financial Position December 31 Assets 2020 Plant assets (net) €4,355,000 Current assets Accounts receivable (net) 375,000 Cash Total current assets 3,145,000 Total assets €7,500,000 Equity and Liabilities Share capital-ordinary, €l par 2020

P15.7 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- set of ratios. Compute missing ments of financial position of Bondi ASA. Bondi ASA Income Statement For the Year Ended December 31, 2020 €10,500,000 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Bondi ASA Statements of Financial Position December 31 Assets 2020 Plant assets (net) €4,355,000 Current assets Accounts receivable (net) 375,000 Cash Total current assets 3,145,000 Total assets €7,500,000 Equity and Liabilities Share capital-ordinary, €l par 2020

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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