Homework Answers
Given,
Net income = $ 481 million
Total assets = $ 6040 million
Shareholders' common stock = $ 3000 million.
Accounts payable is only the current liability.
Solution :-
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Northeastern Inc. 2017 Income Statement (S in millions) $8,450 7,240 400 810 Net sales Less: Cost...
Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,550 Less: Cost of...
Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,550 Less: Cost of goods sold 7,180 Less: Depreciation 420 Earnings before interest and taxes 950 Less: Interest paid 78 Taxable Income 872 Less: Taxes 305 Net income $ 567 Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) 2008 2009 2008 2009 Cash $ 120 $ 160 Accounts payable $1,120 $1,140 Accounts rec. 940 ...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 9,400 Less: Cost of goods...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 9,400 Less: Cost of goods sold 7,490 Less: Depreciation 315 Earnings before interest and taxes $ 1,595 Less: Interest paid Taxable Income $ 1,504 Less: Taxes 451 Net income $ 1,053 Dividends $ 803 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 260 $ 275 Accounts payable $1.440 $ 1,585 Accounts rec. 1,060 960 Long-term debt 1150 1,420 Inventory 1,660...
$9.950 7.430 445 Windswept, Inc 2010 Income Statement (S in millions) Net sales Less Cost of...
$9.950 7.430 445 Windswept, Inc 2010 Income Statement (S in millions) Net sales Less Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $2,075 90 $1,985 695 $ 1,290 Windswept, Inc. 2009 and 2010 Balance Sheets($ in millions) 2010 2009 $1,140 $1,265 1,290 2010 2009 $ 160 $ 190 Accounts payable 780 Long-term debt 1,585 Common stock $2,670 $2,555 Retained earnings 3,770 $6,000 $6.325 Total liab & equity Cash...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods sold 8,100 Less: Depreciation 385 Earnings before interest and taxes $ 2,315 Less: Interest paid 106 Taxable income $ 2,209 Less: Taxes 663 Net income $ 1,546 Dividends $ 1,296 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 400 $ 425 Accounts payable $2,000 $1,925 Accounts rec. 1,170 1,070 Long-term debt 1.1001 1560 Inventory 1,940...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: De...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid Taxable income Less Taxes 156 Net Income $363 Addition to retained earnings Dividends paid $254 2017 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable $400 Accounts rec. 350 425Notes payable 390 440 Inventory 410 $7901 Total Total $890 $956...
Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in millions)...
Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods Sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $8,600 7,290 400 $ 910 80 $ 830 291 $539 Windswept, Inc. 2016 and 2017 Balance Sheets (ş in millions) 2017 2016 $ 140 $ 175 Accounts payable 2017 $1,150 $1,205 990 1,255 3,190 2,890 700 2016 Cash Accounts rec. Inventory Total Net fixed assets...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions)...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,500 Cost of goods sold 8,200 Depreciation 495 Earnings before interest and taxes $ 1,805 Interest paid 110 Taxable income $ 1,695 Taxes 593 Net income $ 1,102 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 330 $ 365 Accounts payable $ 1,760 $ 2,030 Accounts rec. 1,210 1,110 Long-term debt 1,120...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions)...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes $10,020 8,110 500 $ 1,410 118 $ 1,292 452 $ 840 Net income Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 300 $ 330 Accounts payable 1,140 1,040 Long-term debt 2,020 1,800...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions)...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $10,500 8,200 435 $ 1,865 110 $ 1,75!5 614 $ 1,141 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2017 2016 2016 2017 $1,780 $2,037 1,120,433 3,460 3,080 950 $ 320 $ 350 Accounts payable Cash Accounts rec. Inventory Total Net fixed assets...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions)...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,650 Cost of goods sold 7,260 Depreciation 415 Earnings before interest and taxes $ 975 Interest paid 84 Taxable income $ 891 Taxes 312 Net income $ 579 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 130 $ 160 Accounts payable $ 970 $ 1,135 Accounts rec. 800 700 Long-term debt 1,000 1,200...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 9,400 Less: Cost of goods sold 7,490 Less: Depreciation 315 Earnings before interest and taxes $ 1,595 Less: Interest paid Taxable Income $ 1,504 Less: Taxes 451 Net income $ 1,053 Dividends $ 803 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 260 $ 275 Accounts payable $1.440 $ 1,585 Accounts rec. 1,060 960 Long-term debt 1150 1,420 Inventory 1,660...
$9.950 7.430 445 Windswept, Inc 2010 Income Statement (S in millions) Net sales Less Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $2,075 90 $1,985 695 $ 1,290 Windswept, Inc. 2009 and 2010 Balance Sheets($ in millions) 2010 2009 $1,140 $1,265 1,290 2010 2009 $ 160 $ 190 Accounts payable 780 Long-term debt 1,585 Common stock $2,670 $2,555 Retained earnings 3,770 $6,000 $6.325 Total liab & equity Cash...
Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,800 Less: Cost of goods sold 8,100 Less: Depreciation 385 Earnings before interest and taxes $ 2,315 Less: Interest paid 106 Taxable income $ 2,209 Less: Taxes 663 Net income $ 1,546 Dividends $ 1,296 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 400 $ 425 Accounts payable $2,000 $1,925 Accounts rec. 1,170 1,070 Long-term debt 1.1001 1560 Inventory 1,940...
Young, Inc. 2018 Statement of comprehensive Income ($ in millions) Net sales $1384 Tess Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid Taxable income Less Taxes 156 Net Income $363 Addition to retained earnings Dividends paid $254 2017 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable $400 Accounts rec. 350 425Notes payable 390 440 Inventory 410 $7901 Total Total $890 $956...
Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods Sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $8,600 7,290 400 $ 910 80 $ 830 291 $539 Windswept, Inc. 2016 and 2017 Balance Sheets (ş in millions) 2017 2016 $ 140 $ 175 Accounts payable 2017 $1,150 $1,205 990 1,255 3,190 2,890 700 2016 Cash Accounts rec. Inventory Total Net fixed assets...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes $10,020 8,110 500 $ 1,410 118 $ 1,292 452 $ 840 Net income Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 300 $ 330 Accounts payable 1,140 1,040 Long-term debt 2,020 1,800...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $10,500 8,200 435 $ 1,865 110 $ 1,75!5 614 $ 1,141 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2017 2016 2016 2017 $1,780 $2,037 1,120,433 3,460 3,080 950 $ 320 $ 350 Accounts payable Cash Accounts rec. Inventory Total Net fixed assets...
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