5) Iris Income Statement Cost of Goods Sold 320 Depreciation Expense 35 Interest Expense 20 Operating...
5) Iris Income Statement
Cost of Goods Sold 320
Depreciation Expense 35
Interest Expense 20
Operating Expense (excluding depreciation) 115
Sales 690
What was Iris Inc's earnings before interest and taxes (EBIT)
6) Iris Balance Sheet
Accounts Payable and Accruals 65
Accounts Receivable 63
Accumulated Depreciation (175)
Cash 31
Common Stock 120
Fixed Assets (gross) 390
Inventory 129
Long-Term Debt 200
Retained Earnings 65
What is Iris Inc.'s Total Assets?
7) Flying Tigers, Inc., has net sales of $796,000 and accounts receivables of $157,000. What is the firm's accounts receivables turnover? (Give your answer up to two decimal places)
8)Reagan Corp. has reported a net income of $805,000 for the year. The company's share price is $13.59, and the company has 317,050 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.
9) The Florida lottery agrees to pay the winner $247,000 at the end of the year for next 20 years. What is the future value of this prize if each payment is put in an account earning 0.08?
Homework Answers
Answer of Part 5:
EBIT = Sales – Cost of Goods Sold – Operating Expenses
(Excluding Depreciation) – Depreciation Expense
EBIT = $690 - $320 - $115 - $35
EBIT = $220
Answer of Part 6:
Total Liabilities = Accounts Payable and Accruals + Long term
Debt
Total Liabilities = $65 + $200
Total Liabilities = $265
Total Stockholders Equity = Common Stock + Retained
Earnings
Total Stockholders Equity = $120 + $65
Total Stockholders Equity = $185
Total Liabilities and Total Stockholder Equity = Total
Liabilities + Total Stockholders Equity
Total Liabilities and Total Stockholders Equity = $265 + $185
Total Liabilities and Total Stockholders Equity = $450
Total Assets = Total Liabilities and Total Stockholders
Equity
Total Assets = $450
Add Answer to:
5) Iris Income Statement
Cost of Goods Sold 320
Depreciation Expense 35
Interest Expense 20
Operating...
1) During the last year, sigma co had net income of 149 paid $16 in dividends,...
1) During the last year, sigma co had net income of 149 paid $16 in dividends, and sold new stock for $37. Beginning equity for the year was $680. Ending equity was? 2) The following items are components of a traditional balance sheet. How much are the total assets of the firm. Plant and equipment $40, 800 Common stock $15,000 Cash 6,500 Inventory 23,700 Bad debt reserve 6,000 Additional paid-in capital 6,000 Accumulated depreciation 25,200 Accounts receivable 22,000 Answer: 3)Cameron...
Major Manuscripts, Inc. 2009 Income Statement Net sales 7200 Cost of goods sold 6,665 Depreciation 190...
Major Manuscripts, Inc. 2009 Income Statement Net sales 7200 Cost of goods sold 6,665 Depreciation 190 Earnings before interest and 845 taxes Interest paid 22 Taxable income 822 Taxes 287 Net income 536 Dividends 241 Cash Accounts rec Inventory Total Net fixed assets Total assets Major Manuscripts, Inc. 2009 Balance Sheet 2009 2,200 Accounts payable 870 Long-term debt 2.300 Common stock 5,370 Retained earnings 3.060 8.430 Total liabilities & equity 2009 1,700 300 2,600 3.830 8.430 Major Manuscripts, Inc. does...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227...
Cost of goods sold Depreciation expense Earnings after taxes Earnings before taxes Earnings before taxes Interest...
Cost of goods sold Depreciation expense Earnings after taxes Earnings before taxes Earnings before taxes Interest expense Sales Selling and administrative expense Taxes value: 20.00 points Lemon Auto Wholesalers had sales of $740,000 last year, and cost of goods sold represented 70 percent of sales. Selling and administrative expenses were 12 percent of sales. Depreciation expense was $18,000 and interest expense for the year was $11,000. The firm's tax rate is 30 percent. a. Compute earnings after taxes. Lemon Auto...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Eamings before interest and taxes (EBIT) Interest expense $634 170 $464 Pretax income Taxes 162 Net income $302 Dividends 75 Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment...
Question Completion Status: Income Statement For the Year Sales Cost of goods sold Depreciation Earnings before...
Question Completion Status: Income Statement For the Year Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income $42,700 29,250 3,750 $ 9,700 1,360 $ 8,340 Taxes 2,840 Net income $ 5,500 Dividends $1,925 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets $ 1,320 3,780 10,200 $15,300 33,600 $48,900 Net fixed assets Total assets $ 3,650 18,100 Accounts payable Long-term debt Common stock ($1 par value) Retained earnings 15,000 12.150 End-of-Year Cash $...
2009 Income Statement Net Sales Less: Cost of Goods Sold Less: Depreciation Earnings Before Interest and...
2009 Income Statement Net Sales Less: Cost of Goods Sold Less: Depreciation Earnings Before Interest and Taxes Less: Interest Paid Taxable income Less: Taxes Net Income Dividends Additions to retained earnings 2009 Balance Sheet Cash $3,160 Accounts Payable Accounts rec 4,160 Long-term debt Inventory 6,480 Common stock Total $13,800 Retained earnings Net fixed assets 29.400 Total assets $43,200 Total liabilities & equity $38,900 31,400 2,600 4,900 1,800 $3,100 1,150 $1,950 $390 $1,560 $8,120 21,200 7,500 6,380 543,200 HLM, Ine. is...
Income Statement Year 2019 2020 Net Revenue 140,000 - Cost of Goods Sold 70,000 - Depreciation...
Income Statement Year 2019 2020 Net Revenue 140,000 - Cost of Goods Sold 70,000 - Depreciation Expense 9,000 EBIT 61,000 - Interest Expense 10,500 Income Before Taxes 50,500 Tax Expense 10,605 Net Income 2019 Dividend 39,895 9,974 Balance Sheet Year (end of) 2019 2020 2019 2020 Assets Liabilities Current Assets Current Liabilities Cash and Equivalents 10,000 Accounts Payable 21,000 Accounts Receivable 25,000 Long-term Debt 95,000 Inventory 12,000 Total Liabilities 116,000 Fixed Assets, Net 165,000 Stockholders' Equity Total Assets 212,000 Common...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest expense Income tax Net income $112,000 25,000 45,000 53,000 From the balance sheet: Current liabilities Long-term debt Deferred income taxes Total Liabilities Preferred stock Common stock Premium on common stock Retained earnings Total Stockholders' Equity Total Liabilities &Stockholders' Equity $80,000 400,000 15,000 495,000 75,000 157,000 185,000 245,000 2. What is the Times Interest Earned ratio? 3. What is the Debt/Assets (Debt) ratio? 4. What...
Sales are $1.49 million, cost of goods sold is $595,000, depreciation expense is $149,000, other operating...
Sales are $1.49 million, cost of goods sold is $595,000, depreciation expense is $149,000, other operating expenses is $299,000, addition to retained earnings is $114,400, dividends per share is $1, tax rate is 40 percent, and number of shares of common stock outstanding is 89,000. LaTonya’s Flop Shops has no preferred stock outstanding. Use the above information to calculate the times interest earned ratio for LaTonya’s Flop Shops, Inc. (Round your answer to 2 decimal places.) interest earned ______ times
Major Manuscripts, Inc. 2009 Income Statement Net sales 7200 Cost of goods sold 6,665 Depreciation 190 Earnings before interest and 845 taxes Interest paid 22 Taxable income 822 Taxes 287 Net income 536 Dividends 241 Cash Accounts rec Inventory Total Net fixed assets Total assets Major Manuscripts, Inc. 2009 Balance Sheet 2009 2,200 Accounts payable 870 Long-term debt 2.300 Common stock 5,370 Retained earnings 3.060 8.430 Total liabilities & equity 2009 1,700 300 2,600 3.830 8.430 Major Manuscripts, Inc. does...
$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227...
Cost of goods sold Depreciation expense Earnings after taxes Earnings before taxes Earnings before taxes Interest expense Sales Selling and administrative expense Taxes value: 20.00 points Lemon Auto Wholesalers had sales of $740,000 last year, and cost of goods sold represented 70 percent of sales. Selling and administrative expenses were 12 percent of sales. Depreciation expense was $18,000 and interest expense for the year was $11,000. The firm's tax rate is 30 percent. a. Compute earnings after taxes. Lemon Auto...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Eamings before interest and taxes (EBIT) Interest expense $634 170 $464 Pretax income Taxes 162 Net income $302 Dividends 75 Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment...
Question Completion Status: Income Statement For the Year Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income $42,700 29,250 3,750 $ 9,700 1,360 $ 8,340 Taxes 2,840 Net income $ 5,500 Dividends $1,925 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets $ 1,320 3,780 10,200 $15,300 33,600 $48,900 Net fixed assets Total assets $ 3,650 18,100 Accounts payable Long-term debt Common stock ($1 par value) Retained earnings 15,000 12.150 End-of-Year Cash $...
2009 Income Statement Net Sales Less: Cost of Goods Sold Less: Depreciation Earnings Before Interest and Taxes Less: Interest Paid Taxable income Less: Taxes Net Income Dividends Additions to retained earnings 2009 Balance Sheet Cash $3,160 Accounts Payable Accounts rec 4,160 Long-term debt Inventory 6,480 Common stock Total $13,800 Retained earnings Net fixed assets 29.400 Total assets $43,200 Total liabilities & equity $38,900 31,400 2,600 4,900 1,800 $3,100 1,150 $1,950 $390 $1,560 $8,120 21,200 7,500 6,380 543,200 HLM, Ine. is...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest expense Income tax Net income $112,000 25,000 45,000 53,000 From the balance sheet: Current liabilities Long-term debt Deferred income taxes Total Liabilities Preferred stock Common stock Premium on common stock Retained earnings Total Stockholders' Equity Total Liabilities &Stockholders' Equity $80,000 400,000 15,000 495,000 75,000 157,000 185,000 245,000 2. What is the Times Interest Earned ratio? 3. What is the Debt/Assets (Debt) ratio? 4. What...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago