Chapter 4, Problem 29P

[The following information applies to the questions displayed below.] Summary information from the financial statements of two companies competing in the same industry follows.    BarcoCompany KyanCompany     BarcoCompany KyanCompany Data from the current year-end balance sheets   Data from the current year’s income statement Assets               Sales $ 770,000   $ 914,200   Cash $ 21,000   $ 34,000     Cost of goods sold   587,100     642,500   Accounts receivable, net   34,400     59,400     Interest expense   9,100     17,000   Merchandise inventory   84,940     132,500     Income tax expense   14,800     25,238   Prepaid expenses   5,400     7,350     Net income   159,000     229,462   Plant assets, net   310,000     307,400     Basic earnings per share   3.79     5.08   Total assets $ 455,740   $ 540,650     Cash dividends per share   3.82     4.01                     Liabilities and Equity               Beginning-of-year balance sheet data   Current…

The following information applies to the questions displayed below.] Summary information from the financial statements of two companies competing in the same industry follows.    BarcoCompany KyanCompany     BarcoCompany KyanCompany Data from the current year-end balance sheets   Data from the current year’s income statement Assets               Sales $ 770,000   $ 914,200   Cash $ 21,000   $ 34,000     Cost of goods sold   587,100     642,500   Accounts receivable, net   34,400     59,400     Interest expense   9,100     17,000   Merchandise inventory   84,940     132,500     Income tax expense   14,800     25,238   Prepaid expenses   5,400     7,350     Net income   159,000     229,462   Plant assets, net   310,000     307,400     Basic earnings per share   3.79     5.08   Total assets $ 455,740   $ 540,650     Cash dividends per share   3.82     4.01                     Liabilities and Equity               Beginning-of-year balance sheet data   Current…

Financial statementsThe assets and liabilities of Global Travel Agency on December 31, 20Y5.and its revenue and expenses for the year are as follows: Accounts payableAccounts receivableCashCommon stockFees earnedLandMiscellaneous expense Rent expenseSuppliesSupplies expenseUtilities expenseWages expense $ 108,000539,000200,000575,000940,0001,500,000$ 19,50056,0006,00012,70034,80415,000 Common stock was $525,000 and retained earnings was $1,250,000 as ofJanuary 1. 20Y5. During the year, additional common stock of $50,000was issued for cash, and dividends of $90,000 were paid. Instructions1. Prepare an income statement for the year ended December 31.20Y5.2. Prepare a statement of stockholders' equity for the year ended December 31. 2015.3. Prepare a balance sheet as of December 31, 20Y5.4. What items appears on both the statement of stockholders'equity and the balance sheet?

The accounting information collected from the MCM company is detailed in the attached tables. Prepare the following: Calculate the following financial ratios: Current ratio, acid test ratio, participation ratio, profit margin. Financial information was collected for the month of September 210 for the company MCM.   Balance  Bills to pay $35000     receivable accounts $29000 bonds payable $110000 buildings (net value) $605000 cash on hand $17000 dividends payable $8000 inventary $31000 terrain  $450000 long-term mortgage payable $450000 retained earnings $154000 stock values $375000 transaction in september 2010 category   Amount workforce   $50000 bills      insurance  $20000   sales $62000   rent and maintenance $40000   salary  $110000   others  $62000   total   $294000 income taxes   $20000 finished goods inventory as of September 1, 2010   $25000 finished goods inventory as of September 30, 2010   $50000 materials inventory…

Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows:($ in millions)                              Ferris Air          Oceanic AirlinesCurrent assets:Cash and cash equivalents            $1,113                     $ 2,791Current investments                        1,857                          958Net receivables                                  578                        2,156Inventory                                            469                       1,023Other current assets                           210                       1,344Total current assets                         $4,227                    $ 8,272Current liabilities:Current debt                                    $ 271                     $ 1,627Accounts payable                            2,209                        5,686Other current liabilities                    2,170                        5,957Total current liabilities…

Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.) Accounts Company Total Books Computers Maps Travel Finance Sales to outside parties $ 1,735 $ 191 $ 752 $ 447 $ 345 $ 0 Intersegment sales 559 43 290 58 168 0 Interest income—external 130 74 0 0 0 56 Interest income—intersegment loans 166 0 0 0 0 166 Assets 3,715 256 1,473 298 353 1,335 Operating expenses 1,560 134 868 297 209 52 Expenses—intersegment sales 264 89 70 40 65 0 Interest expense—external 126 0 0 0 0 126 Interest expense—intersegment loans 223 40 90 57 36 0 Income tax expense (savings) 140 62 (22) 77 81 (58) General corporate expenses 105 - - - - - Unallocated operating costs 130 - - - - - Required: Determine the reportable segments by performing revenue test. Note: Round your percentage answers to 1 decimal place.…

Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.) Accounts Company Total Books Computers Maps Travel Finance Sales to outside parties $ 1,735 $ 191 $ 752 $ 447 $ 345 $ 0 Intersegment sales 559 43 290 58 168 0 Interest income—external 130 74 0 0 0 56 Interest income—intersegment loans 166 0 0 0 0 166 Assets 3,715 256 1,473 298 353 1,335 Operating expenses 1,560 134 868 297 209 52 Expenses—intersegment sales 264 89 70 40 65 0 Interest expense—external 126 0 0 0 0 126 Interest expense—intersegment loans 223 40 90 57 36 0 Income tax expense (savings) 140 62 (22) 77 81 (58) General corporate expenses 105 - - - - - Unallocated operating costs 130 - - - - - Determine the reportable segments by performing asset test. Note: Round your percentage answers to 1 decimal place. Enter your…

Financial statements The assets and liabilities of Global Travel Agency on December 31, 20Y5, and its revenue and expenses for the year are as follows: Common stock was 525,000 and retained earnings was 1,250,000 as of January 1, 20Y5. During the year, additional common stock of 50,000 was issued for cash, and dividends of 90,000 were paid. Instructions 1. Prepare an income statement for the year ended December 31, 20Y5. 2. Prepare a statement of stockholders equity for the year ended December 31, 20Y5. 3. Prepare a balance sheet as of December 31, 20Y5. 4. What items appears on both the statement of stockholders equity and the balance sheet?