Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income $36,408 28,225 1.760 6,423 510 5,913 Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ 24 Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable
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- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,600 Cost of goods sold 7,810 Depreciation 470 Earnings before interest and taxes $ 1,320 Interest paid 106 Taxable income $ 1,214 Taxes 425 Net income $ 789 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 240 $ 270 Accounts payable $ 1,410 $ 1,410 Accounts receivable 1,020 920 Long-term debt 1,110 1,310 Inventory 1,840 1,710 Common stock 3,360 3,280 Total $ 3,100 $ 2,900 Retained earnings 650 900 Net fixed assets 3,430 4,000 Total assets $ 6,530 $ 6,900 Total liabilities & equity $ 6,530 $ 6,900 What is the quick ratio for 2022?
- Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 11,750 Cost of goods sold 7,750 Depreciation 475 Earnings before interest and taxes $ 3,525 Interest paid 92 Taxable income $ 3,433 Taxes 721 Net income $ 2,712 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 220 $ 250 Accounts payable $ 1,660 $ 1,595 Accounts received 1,030 930 Long-term debt 1,030 1,350 Inventory 1,880 1,675 Common stock 3,280 3,000 Total $ 3,130 $ 2,855 Retained earnings 610 860 Net fixed assets 3,450 3,950 Total assets $ 6,580 $ 6,805 Total liabilities & equity $ 6,580 $ 6,805 What is the fixed asset turnover for 2021?need formula for cost of goods sold CURRENT ASSETS Cash and cash equivalents $ 607,987 $ 480,626 Accounts receivable, net 104,500 80,545 Inventory 26,445 26,096 Prepaid expenses and other current assets 54,906 57,076 Income tax receivable 282,783 27,705 Investments 343,616 400,156 Total current assets 1,420,237 1,072,204 Leasehold improvements, property and equipment, net 1,584,311 1,458,690 Long term investments 102,328 0 Restricted cash 27,849 27,855 Operating lease assets 2,767,185 2,505,466 Other assets 59,047 18,450 Goodwill 21,939 21,939 Total assets 5,982,896 5,104,604 Current liabilities: Accounts payable 121,990 115,816 Accrued payroll and benefits 203,054 126,600 Accrued liabilities 164,649 155,843 Unearned revenue 127,750 95,195 Current operating lease liabilities 204,756 173,139 Total current liabilities 822,199 666,593 Commitments and contingencies (Note 12) Long-term operating lease liabilities 2,952,296…THE ATHLETIC ATTICIncome StatementFor the Year Ended December 31, 2024Net sales $8,900,000Cost of goods sold 5,450,000Gross profit 3,450,000Expenses: Operating expenses $1,600,000 Depreciation expense 210,000 Interest expense 50,000 Income tax expense 360,000 Total expenses 2,220,000Net income $1,230,000 THE ATHLETIC ATTICBalance SheetsDecember 31 2024 2023Assets Current assets: Cash $164,000 Accounts receivable 790,000 Inventory 1,405,000 Supplies 110,000Long-term assets: Equipment 1,150,000 Less: Accumulated depreciation (420,000) Total assets $3,199,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $115,000 Interest payable 0 Income tax payable 40,000 Long-term liabilities: Notes payable 600,000 Stockholders' equity: Common stock 700,000…
- INCOME STATEMENT Year ended June 30 2022 2021 $'000 $'000Revenue 22450 18675Cost of sales 8475 8055Gross Profit 13975 10620Distribution costs 4245 3120Administrative expenses 1276 2134Selling expenses…Profit and Loss Account for the year ended 31st December 2021 (Figures are in £000) Particulars XYZ ABC Sales 3,690 4,586 Less: Cost of Goods Sold (Including purchases) (2,146) (2,690) Gross Profit 1,544 1,896 Less: Selling & Distribution Expenses Less: Depreciation (1,103) (1,253) Earnings before Interest & Tax or Operating Profit 441 643 Less: Interest (225) (192) Earnings before Tax 216 451 Less: Taxes (86) (180) Earnings after Tax or Net Profit 130 271 Balance Sheet as at31st December 2021 (Figures are in £000) Assets XYZ ABC Fixed Assets 4,542 4,790 Current Assets Account Receivables 274 313 Inventory 654 702 Cash 140 163 Total Current Assets 1,068 1,178 Total Assets 5,610 5,968 Liabilities Capital 3,824 4,310 Long Term Debt 883 760 Current Liabilities Account Payables…Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in Millions. Income Statement Total Sales213.8 Cost of Sales151.3 Gross Profit213.8-151.3 Selling and Administrative Expenses22.3 Research and Development 7.7 Depreciation and Amortization4.5 Other Income2.4 EBIT213.8-151.3-22.3-7.7-4.5+2.4 Interest Expense5.8 Pretax Income213.8-151.3-22.3-7.7-4.5+2.4-5.8 Taxes( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.30 Net Income( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.70 Balance Sheet Assets Liabilities Cash65.8Accounts Payable43.3Accounts Receivable54.4Notes Payable/Short term debt1.6Inventories4.4 Total Current Assets65.8+54.4+4.4Total Current Liabilities43.3+1.6 Net property, plant and equipment103.4Long-term debt80.0Total long-term assets103.4Total long-term debt liabilities80.0 Total Liabilities43.3+1.6+80.0 Stockholders' Equity (Total Equity)65.8+ 54.4+4.4+103.4-43.3-1.6-80.0Total…
- J9998. Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders equity Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Comparative Balance Sheet Mutiple Choice O$(153) O 5153 Income Statement $(35) $35 $ 818 284 526 105 421 149 $ 272 Ending Beginning Balance Balance $45 108 67 Cash dividends were $35. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) investing activities for the year was. 843 372 $ 691 $85 200 119 287 $ 691 $42 93 52 690 320 $ 557 $94 320 93 50 $ 557Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 9,400 Cost of goods sold 7,650 Depreciation 440 Earnings before interest and taxes $ 1,310 Interest paid 88 Taxable income $ 1,222 Taxes 257 Net income $ 965 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 220 $ 255 Accounts payable $ 1,490 $ 1,595 Accounts received 990 890 Long-term debt 1,010 1,335 Inventory 1,660 1,655 Common stock 3,240 2,970 Total $ 2,870 $ 2,800 Retained earnings 530 780 Net fixed assets 3,400 3,880 Total assets $ 6,270 $ 6,680 Total liabilities & equity $ 6,270 $ 6,680 What is the return on equity for 2021?Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 9,250 Cost of goods sold 7,550 Depreciation 330 Earnings before interest and taxes $ 1,370 Interest paid 82 Taxable income $ 1,288 Taxes 270 Net income $ 1,018 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 200 $ 215 Accounts payable $ 1,380 $ 1,587 Accounts received 950 850 Long-term debt 1,000 1,178 Inventory 1,620 1,580 Common stock 3,200 2,950 Total $ 2,770 $ 2,645 Retained earnings 510 760 Net fixed assets 3,320 3,830 Total assets $ 6,090 $ 6,475 Total liabilities & equity $ 6,090 $ 6,475 Windswept, Incorporated, has 350 million shares of stock outstanding. Its price-earnings ratio for 2021 is 12. What is the market price per share of stock?