What is the financial performance summary for this balance sheet? BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS LIABILITIES Revenue 28,681.10 Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Cost Of Goods Sold 20,768.80 Accounts Receivable 954.80 Salaries Payable 225.20 Gross Profit 7,912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Operating Expenses: Total Current Assets 5,166.50 Selling, General & Admin. 5,980.80 Other Liabilities 693.40 Depreciation 307.30 Machinery & Equipment 1,688.90 Operating income 1,624.20 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Interest - Depreciation (575.60) SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) Property, Plant & Equip. - Net 4,591.40 Common Stock 828.50 Income Before Taxes 1,637.30 Other Long Term Assets 120.90 Retained Earnings 5,401.70 Income Taxes 618.10 Total Long-Term Assets 4,712.30 Total Shareholder's Equity 6,230.20 Net Income 1,019.20 Total Assets 9,878.80 Total Liabilities & Equity 9,878.80 Number of Common Stock Shares Outstanding 1,032,271

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...

See similar textbooks

Related questions

Question

What is the financial performance summary for this balance sheet?

BALANCE SHEET		INCOME STATEMENT
($ in millions)		($ in millions)

ASSETS			LIABILITIES			Revenue	28,681.10
Cash & Marketable Securities	449.90		Accounts Payable	1,611.20		Cost Of Goods Sold	20,768.80
Accounts Receivable	954.80		Salaries Payable	225.20		Gross Profit	7,912.30
Inventories	3,645.20		Other Current Liabilities	1,118.80
Other Current Assets	116.60		Total Current Liabilities	2,955.20		Operating Expenses:
Total Current Assets	5,166.50				Selling, General & Admin.	5,980.80
			Other Liabilities	693.40		Depreciation	307.30
Machinery & Equipment	1,688.90				Operating income	1,624.20
Land	1,129.70		Total Liabilities	3,648.60
Buildings	2,348.40				Interest	-
Depreciation	(575.60)		SHAREHOLDER'S EQUITY			Other Expense (Income)	(13.10)
Property, Plant & Equip. - Net	4,591.40		Common Stock	828.50		Income Before Taxes	1,637.30
Other Long Term Assets	120.90		Retained Earnings	5,401.70		Income Taxes	618.10
Total Long-Term Assets	4,712.30		Total Shareholder's Equity	6,230.20		Net Income	1,019.20

Total Assets	9,878.80		Total Liabilities & Equity	9,878.80
					Number of Common Stock
					Shares Outstanding	1,032,271

Expert Solution

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions