Homework Answers
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| Carla Vista | A | B | C=B-A | D=C/A | |||||
| Income Statement | 2019 | 2018 | Answer a 1 | 2018 | 2019 | Change | Change % | ||
| Sales | 908,000.00 | 796,000.00 | Current Ratio | 2.0 | 1.7 | ||||
| Cost of goods sold | 647,000.00 | 576,000.00 | Current Assets/Current Liabilities | ||||||
| Gross Profit | 261,000.00 | 220,000.00 | |||||||
| Operating Expense | 194,000.00 | 160,000.00 | Earnings per share | 2.86 | 3.19 | 0.33 | 11.67% | ||
| Net Income | 67,000.00 | 60,000.00 | Net Income/ Number of shares |
| Balance Sheet | |||
| Assets | 2019 | 2018 | |
| Current Assets | |||
| Cash | 70,000.00 | 67,000.00 | |
| Debt Investments (short term) | 51,000.00 | 41,000.00 | |
| Accounts Receivable (net) | 104,000.00 | 90,000.00 | |
| Merchandise Inventory | 230,000.00 | 164,000.00 | |
| Prepaid Expenses | 22,000.00 | 23,000.00 | |
| Total Current Assets | 477,000.00 | 385,000.00 | |
| Land | 133,000.00 | 133,000.00 | |
| Building and Equipment, net | 262,000.00 | 185,000.00 | |
| Total Assets | 872,000.00 | 703,000.00 | |
| Liabilities & Stockholders' Equity | |||
| Liabilities | |||
| Notes Payable | 172,000.00 | 102,000.00 | |
| Accounts Payable | 66,000.00 | 51,000.00 | |
| Accrued Liabilities | 39,000.00 | 39,000.00 | |
| Current Liabilities | 277,000.00 | 192,000.00 | |
| Bonds payable, due 2022 | 249,000.00 | 169,000.00 | |
| Total Liabilities | 526,000.00 | 361,000.00 | |
| Common Stock $ 10 par | 210,000.00 | 210,000.00 | |
| Retained Earnings | 136,000.00 | 132,000.00 | |
| Total Stockholders' Equity | 346,000.00 | 342,000.00 | |
| Total Liabilities & Stockholders' Equity | 872,000.00 | 703,000.00 | |
| Common Stock $ 10 par | 210,000.00 | 210,000.00 | |
| Number of shares | 21,000.00 | 21,000.00 | |
| 2019 | 2020 | Note | |
| Number of shares sold | 19,000.00 | D | |
| Par value per share | 10.00 | E | |
| Value of shares sold | 190,000.00 | F=D*E | |
| Add: Net Income for 2020 | 52,000.00 | ||
| Add: Stockholders' Equity for 2019 | 342,000.00 | ||
| Stockholders' Equity | 346,000.00 | 584,000.00 | G |
| Net Income | 67,000.00 | 52,000.00 | H |
| Return on common stockholders equity | 19.36% | 8.90% | I=H/G |
| Net Income/ Stockholders equity | |||
| Change % | -10.46% | This is the difference between 2020 and 2019 figure. | |
| Total Liabilities in 2019 | 526,000.00 | ||
| Less: Notes payable paid | 172,000.00 | ||
| Total Liabilities | 526,000.00 | 354,000.00 | J |
| Total Assets | 872,000.00 | 864,000.00 | K |
| Debt to Assets ratio | 60.32% | 40.97% | L=J/K |
| Total Liabilities/ Total Assets | |||
| Change % | -19.35% | This is the difference between 2020 and 2019 figure. | |
| Number of shares | 21,000.00 | 40,000.00 | For 2020, its 21,000 shares plus 19,000 further issued in 2020. |
| Net Income | 67,000.00 | 52,000.00 | |
| Earnings per share | 3.19 | 1.30 | M |
| Net Income/ Number of shares | |||
| Marker price per share | 9.00 | 13.00 | N |
| Price Earnings Ratio | 2.8 | 10.0 | O=N/M |
| Marker price per share/ Earnings per share | |||
| Change | 7.18 | This is the difference between 2020 and 2019 figure. | |
| Change % | 254.50% | This is the change/ 2019 figure. | |
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CARLA VISTA COMPANY Balance Sheets December 31 Assets 2019 2018 Cash...
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The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets...
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The following financial information is for Pharoah
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PHAROAH COMPANY
Balance Sheets
December 31
Assets
2017
2016
Cash
$ 72,000
$ 69,000
Debt investments (short-term)
54,000
39,000
Accounts receivable
107,000
90,000
Inventory
236,000
162,000
Prepaid expenses
30,000
27,000
Land
133,000
133,000
Building and equipment (net)
260,000
188,000
Total assets
$892,000
$708,000
Liabilities and Stockholders’ Equity
Notes payable
$170,000
$106,000
Accounts payable
65,000
54,000
Accrued liabilities
42,000
42,000
Bonds payable, due 2020
250,000
171,000
Common stock, $10 par
209,000
209,000
Retained...
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The following financial information is for Cullumber Company. upport CULLUMBER COMPANY Balance Sheets December 31 Assets 2017 2016 Cash Debt investments (short-term) Accounts receivable Inventory $ 72,000 $68,000 51,000 42,000 109,000 92,000 237,000 169,000 28,000 25,000 131,000 131,000 259,000 186,000 $887,000 $713,000 Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable $169,000 $109,000 69,000 50,000 Accounts payable Accrued liabilities Bonds payable, due 2017 Common stock, $10 par 41,000 41,000 252,000 170,000 209,000 209,000 147,000...
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The following financial information is for Pharoah
Company.
PHAROAH COMPANY
Balance Sheets
December 31
Assets
2017
2016
Cash
$ 72,000
$ 69,000
Debt investments (short-term)
54,000
39,000
Accounts receivable
107,000
90,000
Inventory
236,000
162,000
Prepaid expenses
30,000
27,000
Land
133,000
133,000
Building and equipment (net)
260,000
188,000
Total assets
$892,000
$708,000
Liabilities and Stockholders’ Equity
Notes payable
$170,000
$106,000
Accounts payable
65,000
54,000
Accrued liabilities
42,000
42,000
Bonds payable, due 2020
250,000
171,000
Common stock, $10 par
209,000
209,000
Retained...
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