The following are comparative balance sheets for Vaughn Company.AssetsCashAccounts receivableInventoryLandEquipmentAccumulated depreciation-equipmentTotalVAUGHN CompanyComparative Balance SheetsDecember 31Liabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotal2022$72,60086,300170,50073,800260,000(65,900)$597,300$35,400151,100214,900195,900$597,3002021$33,00071,400186,600100,800200,800(34,100)$558,500$47,000204,000174,700132,800$558,500 Additional information:1.2.3.4.5.6.7.Net income for 2022 was $104,800.Depreciation expense was $31,800.Cash dividends of $41,700 were declared and paid.Bonds payable with a carrying value of $52,900 were redeemed for $52,900 cash.Common stock was issued at par for $40,200 cash.No equipment was sold during 2022.Land was sold for its book value.Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000, or in parenthesis e.g. (15,000).)

Introduction: A cash flow statement is one of the financial statements issued by a company that…

The following are comparative balance sheets for Vaughn Company. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total VAUGHN Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,600 86,300 170,500 73,800 260,000 (65,900) $597,300 $35,400 151,100 214,900 195,900 $597,300 2021 $33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $47,000 204,000 174,700 132,800 $558,500

The following are comparative balance sheets for Vaughn Company. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total VAUGHN Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,600 86,300 170,500 73,800 260,000 (65,900) $597,300 $35,400 151,100 214,900 195,900 $597,300 2021 $33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $47,000 204,000 174,700 132,800 $558,500

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 6BE

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Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (a)Current ratioenter the ratio rounded to 2 decimal places (b)Acid-test ratioenter the ratio rounded to 2 decimal places…
Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Inventory turnoverenter the number rounded to 2 decimal places Days in inventoryenter the number of days rounded to 0 decimal…
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Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (i)Earnings per share$enter a dollar amount rounded to 2 decimal places (j)Payout ratioenter percentages rounded to 0 decimal…