Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents $ 15,000 $ 14,000 Accounts receivable 35.000 30,000 Inventories 31.120 27,000 Total current assets S B1,320 $ 71,000 Net plant and equipment 48.000 46,000 Total assets S131.320 S117.000 Liabilities and Equity Accounts payable $ 1,100 $ 9.000 Accruals 8,000 6.000 Notes payable 7,000 5.050 Total current liabilities $ 25,100 $ 20,050 Long-term bonds 20,000 20,000 $ 45,100 $ 40,050 Total labilities Common stock (4,000 shares) 40,000 40,000 Retained earnings 46,220 36,950 $ 86,220 S 76,950 $ 117,000 Common equity Total liabilities and equity $131,320 Income Statement for Year Ending December 31, 2019 Sales $210.000 160.000 $ 5000 Operating costs excluding depreciation and amortization EBITDA 6.000 $ 44,000 Depreciation and amortization EBIT Interest 5.350 EBT $ 38650 Taxes (25%) 9,663 $ 28.988 $ 19.718 Net income Dividends paid

Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents $ 15,000 $ 14,000 Accounts receivable 35.000 30,000 Inventories 31.120 27,000 Total current assets S B1,320 $ 71,000 Net plant and equipment 48.000 46,000 Total assets S131.320 S117.000 Liabilities and Equity Accounts payable $ 1,100 $ 9.000 Accruals 8,000 6.000 Notes payable 7,000 5.050 Total current liabilities $ 25,100 $ 20,050 Long-term bonds 20,000 20,000 $ 45,100 $ 40,050 Total labilities Common stock (4,000 shares) 40,000 40,000 Retained earnings 46,220 36,950 $ 86,220 S 76,950 $ 117,000 Common equity Total liabilities and equity $131,320 Income Statement for Year Ending December 31, 2019 Sales $210.000 160.000 $ 5000 Operating costs excluding depreciation and amortization EBITDA 6.000 $ 44,000 Depreciation and amortization EBIT Interest 5.350 EBT $ 38650 Taxes (25%) 9,663 $ 28.988 $ 19.718 Net income Dividends paid

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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