How to do this please show me the formula, thank you. The following are CR Company's comparative statements of financial position, income statement, and additionalinformation:CR CompanyStatement of Financial PositionDecember 31, 2015 and 201420152014Assets$ 43,05034,125156,000|3,600135,825(61,950)$ 310,650|$ 23,92539,825146,4751,650146,700(47,550)|$ 311,025CashAccounts receivableMerchandise inventoryPrepaid expenseEquipmentAccum. depreciation-EquipmentTotal assetsLiabilities and EquityAccounts payableIncome tax payableDividends payableBonds payableShare capital-ordinary, $10 par valueRetained earnings$ 28,8005,100$ 33,7504,4254,50037,500168,75062,100$ 311,025168,750108,000$ 310,650|Total liabilities and equityCR CompanyIncome StatementFor Year Ended December 31, 2015Sales$ 446,100|Cost of goods soldOther operating expensesDepreciation expense$ 222,300120,30025,500(368,100)78,000Other gains (losses)Loss on sale of equipment3,300|825Loss on retirement of bonds(4,125)Profit before tax73,875Income tax expense(13,725)Net profit$ 60,150|Additional information:a. Equipment costing $21,375 with accumulated depreciation of $11,100 is sold for cash.b. Equipment purchases are for cash.c. Accumulated Depreciation is affected by depreciation expense and the sale of equipment.d. The balance of Retained earnings is affected by dividend declarations and net profit.e. Accounts payable balances result from merchandise inventory purchases.f. Prepaid expenses relate to “other operating expenses".Required:Prepare a statement of cash flows using the indirect method for year 2015.

Cash flow statement- A cash flow statement is an important component of the company's financial…

The following are CR Company's comparative statements of financial position, income statement, and additional information: CR Company Statement of Financial Position December 31, 2015 and 2014 2015 2014 Assets $ 43,050| 34,125 $ 23,925 39,825 Cash Accounts receivable

The following are CR Company's comparative statements of financial position, income statement, and additional information: CR Company Statement of Financial Position December 31, 2015 and 2014 2015 2014 Assets $ 43,050| 34,125 $ 23,925 39,825 Cash Accounts receivable

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 13.5MCP

See similar textbooks

Similar questions

Prince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000
Income Statement, Statement of Retained Earnings, and Balance Sheet The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Sterns Audio Book Rental Corp. The amounts shown for balance sheet items are balances as of December 31, 2016 (with the exception of retained earnings, which is the balance on January 1, 2016), and the amounts shown for income statement items are balances for the year ended December 31, 2016. Required Prepare an income statement for the year ended December 31, 2016. Prepare a statement of retained earnings for the year ended December 31, 2016. Prepare a balance sheet at December 31, 2016. You have $1,000 to invest. On the basis of the statements you prepared, would you use it to buy stock in this company? Explain. What other information would you want before deciding?
Using the following Company W information, prepare a Retained Earnings Statement. Retained earnings balance January 1, 2019, $43,500 Net income for year 2019, $55,289 Dividends declared and paid for year 2019, $18,000
Profitability metrics The following selected data were taken from the financial statements of The O'Malley Group Inc. for December 31, 20Y5. 20Y4. and 20Y3: No dividends on common stock were declared between 20Y3 and 20Y5. a.Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity Tor the years 20Y4 and 20Y5. Round to one decimal place. b. What conclusions can be drawn from these data as to the company's profitability?
The comparative financial statements of Global Technology are as follows: Review the worksheet RATIOA that follows these requirements. You have been asked to perform a ratio analysis of this company for 2012.
The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANYComparative Balance SheetsDecember 31, 2016 and 2015($ in 000s) 2016 2015 Assets Cash $ 125 $ 110 Accounts receivable 151 155 Short-term investment 56 20 Inventory 155 150 Land 114 140 Buildings and equipment 740 560 Less: Accumulated depreciation (211) (155) $ 1,130 $ 980 Liabilities Accounts payable $ 46 $ 51 Salaries payable 4 7 Interest payable 5 4 Income tax payable 9 13 Notes payable 0 36 Bonds payable 332 260 Shareholders' Equity Common stock 435 360 Paid-in capital—excess of par 200 180 Retained earnings 99…
Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANYIncome StatementFor the Year Ended December 31, 2018($ in 000s) Revenues and gains: Sales $ 840 Gain on sale of buildings 12 $ 852 Expenses and loss: Cost of goods sold $ 320 Salaries 124 Insurance 44 Depreciation 127 Interest expense 54 Loss on sale of machinery 11 680 Income before tax 172 Income tax expense 86 Net income $ 86 PARNELL COMPANYSelected Accounts from Comparative Balance SheetsDecember 31, 2018 and 2017($ in 000s) Year 2018 2017 Change Cash $ 142 $ 96 $ 46 Accounts receivable 332 212 120 Inventory 317 433 (116 ) Prepaid insurance 62 96 (34 ) Accounts payable 218 113 105 Salaries payable 110 89 21 Deferred income tax…
Need asap please and thank you. Cullumber Company provides you with the following balance sheet information as of December 31, 2017. Current assets $14,720 Current liabilities $15,360 Long-term assets 32,860 Long-term liabilities 16,860 Total assets $47,580 Stockholders’ equity 15,360 Total liabilities and stockholders’ equity $47,580 In addition, Cullumber reported net income for 2017 of $20,480, income tax expense of $3,904, and interest expense of $1,664. Compute the current ratio and working capital for Cullumber for 2017. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio enter current ratio rounded to 2 decimal places :1 Working capital $enter a dollar amount
Comparative statement data for Douglas Company and Maulder Company, two com-petitors, appear below. All balance sheet data are as of December 31, 2011, and December 31,2010.Douglas Company Maulder Company2011 2010 2011 2010Net sales $1,549,035 $339,038Cost of goods sold 1,080,490 241,000Operating expenses 302,275 79,000Interest expense 8,980 2,252Income tax expense 54,500 6,650Current assets 325,975 $312,410 83,336 $ 79,467Plant assets (net) 521,310 500,000 139,728 125,812Current liabilities 65,325 75,815 35,348 30,281Long-term liabilities 108,500 90,000 29,620 25,000Common stock, $10 par 500,000 500,000 120,000 120,000Retained earnings 173,460 146,595 38,096 29,998Instructions(a) Prepare a vertical analysis of the 2011 income statement data for Douglas Company andMaulder Company in columnar form.(b) Comment on the relative profitability of the companies by computing the returnon assets and the return on common stockholders’ equity ratios for both companies.
The following information was extracted from the books of ABC ltd for the years ended December 2014 and 2013:                Trading, Profit and Loss Account (Income statement )               2014            Ksh.                  2013                    Ksh. Sales Cost of sales Gross profit Operating expenses Profit before taxation Current year’s taxation Profit after taxation Dividends Retained profit for the year 31,000,000 18,000,000 13,000,000 9,500,000 3,500,000 1,600,000 1,900,000 600,000 1,300,000 25,500,000 16,000,000 9,500,000 7,500,000 2,000,000 900,000 1,100,000 600,000 500,000                           Balance Sheets (Statements of financial Position) | Kshs. 2014 Kshs.’ 2013 Fixed assets (net book value) Freehold land and factory building Plant and equipment Motor vehicles Current assets: Stock                           Debtors                           Cash and bank balance Current liabilities: Creditors…
The following information was extracted from the books of ABC ltd for the years ended December 2014 and 2013:                Trading, Profit and Loss Account (Income statement )               2014            Ksh.                  2013                    Ksh. Sales Cost of sales Gross profit Operating expenses Profit before taxation Current year’s taxation Profit after taxation Dividends Retained profit for the year 31,000,000 18,000,000 13,000,000 9,500,000 3,500,000 1,600,000 1,900,000 600,000 1,300,000 25,500,000 16,000,000 9,500,000 7,500,000 2,000,000 900,000 1,100,000 600,000 500,000                           Balance Sheets (Statements of financial Position) | Kshs. 2014 Kshs.’ 2013 Fixed assets (net book value) Freehold land and factory building Plant and equipment Motor vehicles Current assets: Stock                           Debtors                           Cash and bank balance Current liabilities: Creditors…
The comparative statements of Corbin Company are presented below. CORBIN COMPANYIncome StatementFor the Years Ended December 31 2017 2016 Net sales (all on account) $600,500 $520,200 Expenses     Cost of goods sold 414,600 354,200     Selling and administrative 119,900 113,300     Interest expense 8,200 5,100     Income tax expense 17,100 14,700       Total expenses 559,800 487,300 Net income $ 40,700 $ 32,900 CORBIN COMPANYBalance SheetsDecember 31 Assets 2017 2016 Current assets     Cash $ 21,100 $ 17,600     Short-term investments 17,100 15,200     Accounts receivable (net) 86,100 73,000     Inventory 89,400 70,100       Total current assets 213,700 175,900 Plant assets (net) 423,800 383,200 Total assets $637,500 $559,100 Liabilities and Stockholders’ Equity…