THE COCA-COLA COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in millions except par value)December 31,ASSETSCurrent AssetsCash and cash equivalentsShort-term investmentsTotal Cash, Cash Equivalents and Short-Term InvestmentsMarketable securitiesTrade accounts receivable, less allowances of $516 and $516, respectivelyInventoriesPrepaid expenses and other current assetsTotal Current Assets2022$9,5191,04310,5621,0693,4874,2333,24022,5912021$9.6841,24210,9261,0993,5123,4142.99422,545If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been a pretty good estimate for the past couple of years. By how much is Coca Cola artificiallyoverstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $3.2Question 4 of 10

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Description: THE COCA-COLA COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in millions except par value)December 31,ASSETSCurrent AssetsCash and cash equivalentsShort-term investmentsTotal Cash, Cash Equivalents and Short-Term InvestmentsMarketable securitie

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THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9.519 1,043 10.562 1,009 3.487 4,233 3,240 22,591 2021 1,242 10.906 3.512 3,414 2.994 22,545 If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been pretty good estimate for the past couple of years. By how much is Coca Cola artificially overstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $23.2

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9.519 1,043 10.562 1,009 3.487 4,233 3,240 22,591 2021 1,242 10.906 3.512 3,414 2.994 22,545 If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been pretty good estimate for the past couple of years. By how much is Coca Cola artificially overstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $23.2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9,519 1,043 10,562 1,069 3,487 4,233 3,240 22,591 2021 $9.684 1,242 10,926 1,699 3,512 3,414 2,994 22,545 Save Answer For 2022, what % of Gross A/R does Coca-Cola's managment estimate they will not collect? Round to one decimal place, do not place a percentage sign in your answer. (Sample response 10.6)
Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
Assets Cash S.T. Investments Accts Receivable Inventories Total Current Assets Net PP&E Total Assets Liabilities. Accts Payable Notes Payable Accruals Balance Sheet Current Liabilities L.T. Bonds Preferred Stock Common Stock Retained Earnings Total Equity Total Liab. & Equity Less: Interest 2021 120 30 400 Pre-tax Earnings 1,200 1,750 3,000 4,750 100 100 300 500 520 200 530 3,000 3,530 4,750 Net Sales COGS except Dep Depreciation & Amortization Other Operating Expenses EBIT Income Statements 2021 5,500 3,800 180 600 920 60 860 215 Taxes (25%) Preferred Dividends 15 Net Income for CS Holders 630 2020 $102 40 384 774 1. What is the company's MVA? 2. What is the company's EVA in? 3. What is the current ratio of the Company? 1,300 1,780 3,080 180 28 370 578 350 100 500 1,552 2,052 3,080 Number of Common Stock Outstanding = 1,200 Price of Common Stock = 4.00 WACC Cost of Capital = 12.0% Return on Investment (ROI)= 15.97% 2020 4,800 3,710 180 470 440 40 400 100 7 293
O Accounts payable Accounts receivable Accruals Category Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Not fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,153.00 5,992.00 6,936.00 9,031.00 5,792.00 6,116.00 20,429.00 13,896.00 ??? Category 222 2,850 22,561.00 500 952.00 4,008.00 46,360 350 What is the firm's cash flow from financing? 1,259.00 1,120.00 3,060.00 6,658.00 16,820.00 22,100.00 75,431.00 74,071.00 6,567.00 19,950 20,000 35,524.00 34,531.00 45,432.00 2,850 Submit 18,594.00 500 1,019.00 920 Answer format: Number: Round to: 0 decimal places
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $3,704,000 $ 600,000 Retained earnings, January 1 Net income Dividends: On preferred stock On common stock Increase in retained earnings Retained earnings, December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses (10,000) (100,000) $ 490,000 $4,194,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Operating income Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income 20Y1 $3,264,000 $ 550,000 (10,000) (100,000) $ 440,000 $3,704,000 $ 10,850,000 (6,000,000) $ 4,850,000 $ (2,170,000) (1,627,500) $(3,797,500) $…
Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…
Assets Cash FORTEN COMPANY Comparative Balance Sheets December 31 Current Year $ 49,800 65,810 275,656 Prior Year $ 73,500 50,625 251,800 Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 1,250 392,516 157,500 1,875 377,800 108,000 (46,000) (36,625) $ 513,391 $ 53,141 10,000 63,141 $ 439,800 $ 114,675 6,000 120,675 65,000 48,750 128,141 169,425 162,750 150,250 120,125 ,391 $ 439,800 37,500 185,000 $ 513,5 FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net…
Assets Cash Receivables (net) Inventory PP & E (net) Patents&Licenses Goodwill Total assets Liabilities & Equity Accounts payable Short term debt Long term debt Preferred stock Common Equity Total Liabilities + Equity New Chip Corp Balance Sheet at 12/31/22 ($ in Millions) 31 45 64 215 28 19 402 53 19 179 23 128 402
Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets Cash $1,013,530 $917,700 Marketable securities 1,533,990 1,520,760 Accounts receivable (net) 978,200 919,800 Inventories 730,000 569,400 Prepaid expenses 191,756 183,540 Total current assets $4,447,476 $4,111,200 Long-term investments 2,479,894 1,119,115 Property, plant, and equipment (net) 5,330,000 4,797,000 Total assets $12,257,370 $10,027,315 Liabilities Current liabilities $1,347,720 $1,776,965 Long-term liabilities: Mortgage note payable, 8% $1,840,000 $0 Bonds payable, 8% 2,260,000 2,260,000 Total long-term liabilities $4,100,000 $2,260,000 Total liabilities $5,447,720 $4,036,965 Stockholders' Equity Preferred $0.70 stock, $50 par $850,000 $850,000 Common stock, $10 par 970,000 970,000 Retained earnings 4,989,650…
Condensed financial data of Granger Inc. follow. Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets GRANGER INC. Comparative Balance Sheets December 31 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 2022 $80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $682,500 $102,000 16,500 110,000 220,000 234,000 $682,500 2021 $48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 $67,300 21,000 146,000 175,000 105,450 $514,750