The following data are available for XYZ Corporation for years 2014 and2013.XYZ CorporationStatement of Financial PositionAs of December 31ChangePeso%20132014AssetsCash and equivalentsReceivablesInventoriesPrepayments and othersTotal Current Assets14,00028,80054,0004,800101,60016,00055,60085,600_7,400164,6002,00026,800?93.06%?2,60054.17%62.01%Property, Plant & Equipment- net of depreciationTotal Assets43,20073,400238,000143.05%30,200131.800Liabilities and EquityNotes payable to banksAccounts payableAccrued liabilitiesIncome taxes payableTotal current liabilitiesShare capitalRetained earningsTotal equityTotal liabilities and equity10,00031,6004,200_ 5,80051,60044,60035.60080,200131,80054,00055,4006,8007,000123,20044,60070,20044,00023,8002,600.??440.00%61.90%0.00%34,60034,60043,14%114,800238.000XYZ CorporationIncome StatementYears ended December 31(P thousands)ChangePeso20132014266,400191,40075,000424,000314,600109.400157,600123,200Net sales64.37%Cost of goods soldGross profitSelling, general andadministrative expensesIncome before income taxes??64.51%35,50039,50012,30027,20058.40051,000_16,400_34,60011,5004,10029.11%Income taxes33.33%Net Income??Requirements:1. Compute the missing changes in peso amounts andpercentages in the above statements.2.Evaluate the company's short-term financialposition, leverage, managerial efficiency andprofitability using the Horizontal Analysis method.

We are provided with the financial data of the two years of XYZ corporation. Wherein we need to…

The following data are available for XYZ Corporation for years 2014 and 2013. XYZ Corporation Statement of Financial Position As of December 31 Change Peso % 2013 2014 Assets 2,000 26,800 Cash and equivalents Receivables Inventories 14,000 28,800 54,000 4,800 101,600 16,000 55,600 85,600 7,400 164,600 93.06% ? Prepayments and others Total Current Assets 2,600 54.17% 62.01% Property, Plant & Equipment - net of depreciation Total Assets. 73,400 238.000 43,200 143.05% 30,200 131,800 Liabilities and Equity Notes payable to banks Accounts payable Accrued liabilities Income taxes payable Total current liabilities 54,000 55,400 6,800 7,000 123,200 44,600 70,200 114,800 238.000 44,000 23,800 2,600 440.00% 10,000 31,600 4,200 5,800 51,600 44,600 35,600 80,200 131,800 ? 61.90% ? 0.00% Share capital Retained earnings Total equity Total liabilities and equity 34,600 34,600 ? 43.14%

The following data are available for XYZ Corporation for years 2014 and 2013. XYZ Corporation Statement of Financial Position As of December 31 Change Peso % 2013 2014 Assets 2,000 26,800 Cash and equivalents Receivables Inventories 14,000 28,800 54,000 4,800 101,600 16,000 55,600 85,600 7,400 164,600 93.06% ? Prepayments and others Total Current Assets 2,600 54.17% 62.01% Property, Plant & Equipment - net of depreciation Total Assets. 73,400 238.000 43,200 143.05% 30,200 131,800 Liabilities and Equity Notes payable to banks Accounts payable Accrued liabilities Income taxes payable Total current liabilities 54,000 55,400 6,800 7,000 123,200 44,600 70,200 114,800 238.000 44,000 23,800 2,600 440.00% 10,000 31,600 4,200 5,800 51,600 44,600 35,600 80,200 131,800 ? 61.90% ? 0.00% Share capital Retained earnings Total equity Total liabilities and equity 34,600 34,600 ? 43.14%

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

See similar textbooks

Similar questions

he condensed balance sheet and income statement data for SymbiosisCorporation are presented below.SYMBIOSIS CORPORATIONBalance SheetsDecember 312014 2013 2012Cash $ 30,000 $ 24,000 $ 20,000Accounts receivable (net) 110,000 48,000 48,000Other current assets 80,000 78,000 62,000Investments 90,000 70,000 50,000Plant and equipment (net) 503,000 400,000 360,000$813,000 $620,000 $540,000 Current liabilities $ 98,000 $ 75,000 $ 70,000Long-term debt 130,000 75,000 65,000Common stock, $10 par 400,000 340,000 300,000Retained earnings 185,000 130,000 105,000$813,000 $620,000 $540,000SYMBIOSIS CORPORATIONIncome StatementsFor the Years Ended December 312014 2013Sales revenue $800,000 $750,000Less: Sales returns and allowances 40,000 50,000Net sales 760,000 700,000Cost of goods sold 420,000 406,000Gross profit 340,000 294,000Operating expenses (including income taxes) 230,000 209,000Net income $110,000 $ 85,000Additional information:1. The market price of Symbiosis common stock was $5.00, $3.50, and…
Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
The following information pertains to BT21 Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?
Presented below is the balance sheet of Novak Corporation for the current year, 2020. NOVAK CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 488,570 Current liabilities $ 383,570 Investments 643,570 Long-term liabilities 1,003,570 Property, plant, and equipment 1,723,570 Stockholders’ equity 1,773,570 Intangible assets 305,000 $3,160,710 $3,160,710 The following information is presented. 1. The current assets section includes cash $153,570, accounts receivable $173,570 less $13,570 for allowance for doubtful accounts, inventories $183,570, and unearned rent revenue $8,570. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $43,570; investments in common stock, short-term $83,570 and long-term $273,570; and bond sinking fund $242,860. The cost and fair value of investments in common stock are the…
Comparative balance sheets for Hamilton Company are presented below. Hamilton Company Comparative Balance Sheet Decemebr 31 Assets 2017 2016 Cash 78000 12000 Accoutns Receivable 93000 76000 Inventory 180000 189000 Land 75000 100000 Equipemnt 250000 210000 Accu Dep - Equipment (66,000) (42,000) Total 610000 545000 Liability and Equity Accounts Payable 34000 47000 Bonds Payable 150000 200000 Common Stock ($1 Par ) 214000 164000 Retained Earnings 212000 134000 Total 610000 545000 Additional information: 1. Net income for 2017 was $134000 2. Cash dividends of $65,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.…
perating data for Navarro Corporation are presented below. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Instructions December 31, 2017 $125,000 396,000 91,000 133,000 161,000 136,000 December 31, 2016 $100,000 330,000 70,000 95,000 115,000 150,000 Prepare horizontal and vertical analyses. (LO 1) Prepare a schedule showing a vertical analysis for 2017 and 2016. E18-3 The comparative condensed balance sheets of Gurley Corporation
The following information pertains to BTS Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?
The summarized balance sheets of Cullumber Company and Vaughn Company as of December 31, 2021 are as follows: Cullumber CompanyBalance SheetDecember 31, 2021 Assets $2440000 Liabilities $310000 Capital stock 1220000 Retained earnings 910000 Total equities $2440000 Vaughn CompanyBalance SheetDecember 31, 2021 Assets $1840000 Liabilities $420000 Capital stock 1170000 Retained earnings 250000 Total equities $1840000 If Cullumber Company acquired a 30% interest in Vaughn Company on December 31, 2021 for $450000 and during 2022 Vaughn Company had net income of $151000 and paid a cash dividend of $61000, applying the equity method would give a debit balance in the Equity Investments (Vaughn) account at the end of 2022 of $431700. $495300. $477000. $450000.
A comparative balance sheet for Halpern Corporation is presented below: Assets Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings (20,000 $199,000 $11,000 27,000 140,000 21,000 ) HALPERN CORPORATION Comparative Balance Sheet 2020 2019 $31,000 60,000 17,000 40,000 60,000 (13,000 ) $195,000 $6,000 19,000 115,000 55,000 Cash $36,000 Accounts receivable (net) 70,000 Prepaid insurance 25,000 Land 18,000 Equipment 70,000 Total liabilities and stockholders' equity $199,000 $195,000 Additional information: Net loss for 2020 is $20,000. Cash dividends of $14,000 were declared and paid in 2020. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. $22,000 of bonds were retired during the year at carrying (book) value. Equipment was…
A Corporation had the following data concerning selected financial data taken from the records listed below.For the year ended December 312021 2020Cash 80,000 640,000Note and account receivable 400,000 1,200,000Merchandise Inventory 720,000 1,200,000Marketable Securities 240,000 80,000Land and Building (net) 2,720,000 2,880,000Bond Payable 2,160,000 2,240,000Account Payable 560,000 880,000Note Payable Short Term 160,000 320,000Sales (20% cash, 80% credit) 18,400,000 19,200,000Cost of Good Sold 8,000,000 11,200,000Required : Compute the following ratios1. current ratio as of December 31,20212. Quick ratio as of December 31, 20213. Account Receivable Turnover ratio for 20214. Merchandise inventory turn over for 20215. The Gross margin for 20206. the average age of account Receivable for 2021( use 360 days
ASAP!! Consider the given income statement and balance sheet and calculate the following ratios : Return on Assets Return on Equity Debt Ratio Current Ratio Write your comment about each of the ratios calculated what it describes. Following are the Financial Statements of CSU CORPORATION for the year ended Dec. 31, 2020 Assets : 2019 Cash $1400 Accounts Receivable 4000 Supplies 1800 Equipment 16000 Total Assets $23,200 Liabilities and Shareholders’ Equity : Liabilities : Notes Payable $5000 Accounts Payable…
Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:1- ROCE2- ROE3- Earnings per share4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover