Property, plant, and equipment (net) . $ 3,200,000 Liabilities: Current liabilities..... $1,000,000 Note payable, 6%, due in 15 years 2,000,000 $ 3,000,000 Total liabilities .... Stockholders' equity: Preferred $10 stock, $100 par (no change during year) $ 1,000,000 ... Common stock, $10 par (no change during year) 2,000,000 ... ... Retained earnings: Balance, beginning of year. Net income ... $1,570,000 $2,500,000 930,000 $ 100,000 Preferred dividends ... Common dividends .. Balance, end of year.. 400,000 500,000 2,000,000 $ 5,000,000 Total stockholders' equity Sales ... $18,750,000 .. $ 120,000 Interest expense
Property, plant, and equipment (net) . $ 3,200,000 Liabilities: Current liabilities..... $1,000,000 Note payable, 6%, due in 15 years 2,000,000 $ 3,000,000 Total liabilities .... Stockholders' equity: Preferred $10 stock, $100 par (no change during year) $ 1,000,000 ... Common stock, $10 par (no change during year) 2,000,000 ... ... Retained earnings: Balance, beginning of year. Net income ... $1,570,000 $2,500,000 930,000 $ 100,000 Preferred dividends ... Common dividends .. Balance, end of year.. 400,000 500,000 2,000,000 $ 5,000,000 Total stockholders' equity Sales ... $18,750,000 .. $ 120,000 Interest expense
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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The following data were taken from the financial statements of Gates Inc. for the current fiscal year.
Please see the attachment for details:
Assuming that total assets were $7,000,000 at the beginning of the current fiscal year, determine the following: (a) ratio of fixed assets to long-term liabilities, (b) ratio of liabilities to
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