Greasy Spoon Restaurant - Case 1 Greasy Spoon RestaurantBalance Sheet ASSETS 2017 2016 Cash$12,000$31,000 Marketable Securities 66,000...
Greasy Spoon Restaurant - Case 1
Greasy Spoon
Restaurant
Balance
Sheet
ASSETS
2017 2016
Cash$12,000$31,000
Marketable
Securities 66,000
82,000
Accts. Rec.
152,000104,000
Inventories
191,000145,000
Total Current
Assets
$421.000 $362,000
Gross Fixed
Assets
$195,000 $180,000
Less: Accumulated Depreciation
63,000
52,000
Net Fixed
Assets
$132,000 $128,000
Total Assets $553,000 $490,000
Liabilities and Equity
A/P
$136,000 $126,000
Notes
Payable
200,000
190,000
Accruals
27,000
25,000
Total Current
Liabilities
$363,000 $341,000
Long Term debt 38,000 40,000
Total
Liabilities
$401,000 $381,000
Equity
Common Stock (100,000 shares
$.20 par) $ 20,000$
20,000
Paid in capital in excess of
par 30,000 30,000
Retained earnings
102,000
59,000
Total
Equity
$152,000$109,000
Total Liabilities and Equity $553,000$490,000
Greasy Spoon
Income
Statement
2017
Revenue$1,550,000
Less: Cost
of goods sold 1,030,000
Gross Profit$
520,000
Less: Operating
Expenses
Selling Expense
$150,000
G and A Expense
270,000
Depreciation
Exp
11,000
Total
Operating expenses 431,000
Operating
Profits$
89,000
Less: Interest expense
29,000
Profit before
tax$
60,000
Less: taxes (20%)
12,000
Net Profit After taxes$ 48,000
Greasy
Spoon
Statement of Retained
earnings
2017
Retained earnings balance
(1/1/2017)$
59,000
Plus: Net
income
48,000
Less:
Dividends
5,000
Retained
earnings (12/31/17)$
102,000
Greasy Spoon Restaurant
Table 1
Profits, dividends, and retained earnings, 2011-2017
YearNet ProfitDividends PaidContribution to retained earnings
2011($50,000)$0($50,000)
2012( 20,000)0( 20,000)
2013 15,0000 15,000
2014 35,0000 35,000
2015 40,000 1,000 39,000
2016 43,000 3,000 40,000
2017 48,000 5,000 43,000
2016 Additional Information needed to calculate the ratios
Revenue$1,400,000
Cost of
goods sold 1,000,000
Questions
Current ratio, ROA and ROE using the DuPont models, inventory turnover, and earnings per share.
Homework Answers
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Greasy Spoon
Restaurant - Case 1
Greasy Spoon
RestaurantBalance
Sheet
ASSETS
2017 2016
Cash$12,000$31,000
Marketable
Securities 66,000...
Greasy Spoon Restaurant - Case 1 Greasy Spoon Restaurant Balance Sheet ASSETS 2017 2016 Cash Marketable...
Greasy Spoon Restaurant - Case 1 Greasy Spoon Restaurant Balance Sheet ASSETS 2017 2016 Cash Marketable Securities Accts. Rec. Inventories Total Current Assets $12,000 66,000 152,000 191,000 $421.000 $31,000 82,000 104,000 145,000 $362,000 Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets $195,000 63,000 $132,000 $180,000 52,000 $128,000 Total Assets $553,000 $490,000 Liabilities and Equity A/P Notes Payable Accruals Total Current Liabilities $136,000 200,000 27,000 $363,000 $126,000 190,000 25,000 $341,000 Long Term debt 38,000 40,000 $381,000 Total Liabilities $401,000 Equity...
Wenco Balance Sheet as of December 31, 2016 & 2017 Assets: 2016 2017 Cash 2,000 5,120...
Wenco Balance Sheet as of December 31, 2016 & 2017 Assets: 2016 2017 Cash 2,000 5,120 Accounts receivable 10,000 11,000 Inventory 14,000 16,000 Total current assets 26,000 32,120 Property, plant and equipment 76,000 78,000 Accumulated depreciation (24,000) (30,000) Net property plant & equipment 52,000 48,000 Total assets $78,000 $80,120 Liabilities: Accounts payable 15,000 17,000 Salaries payable 1,000 0 Interest payable 0 0 Total current liabilities 16,000 17,000 Bonds payable 30,000 30,000 Total liabilities 46,000 47,000 Shareholders' Equity: Common stock 20,000...
ABC Company Balance Sheet Current Assets: Cash Marketable Securities AIR Inventory Prepaid Expens...
We were unable to transcribe this imageABC Company Balance Sheet Current Assets: Cash Marketable Securities AIR Inventory Prepaid Expenses Total Current Assets 5,000 35,000 225,000 150,000 75,000 490,000 75,200 25,000 150,000 75,000 75,000 500,200 75,000 Plant & Equipment less Accumulated Depreciation Net Plant &Equipment 375,000 200000 175,000 125,000 200,000 Total Assets 840,000 850,200 Current Liabilities AIP Notes Payable Accrued Expenses Total Current Liabilities 225,000 50000 465,000 75,000 50000 425,000 Bonds Payable Total Liabilities 490,000 450,000 Stockholders Equity Preferred Stock Common...
Problem 1: Below are financial statements of FIN300.01 Inc: Balance Sheet: 12/31/17 Assets Cash and Marketable...
Problem 1: Below are financial statements of FIN300.01 Inc: Balance Sheet: 12/31/17 Assets Cash and Marketable Securitics Accounts Reccivable Inventorics Total Current Asscts Net plant and equipment TOTAL ASSETS 2017 10 375 61.5 1,000 2016 80 31. 41.5 810 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained carnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017 140 110 310 2016 40 G0 130 230 1,064 40 130...
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and...
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
Balance Sheet (Millions of $) Assets 2016 Cash and securities $ 1,554.0 Accounts receivable 9,660.0 Inventories...
Balance Sheet (Millions of $) Assets 2016 Cash and securities $ 1,554.0 Accounts receivable 9,660.0 Inventories 13,440.0 Total current assets $24,654.0 Net plant and equipment 17,346.0 $42,000.0 Total assets Liabilities and Equity Accounts payable Notes payable $7,980.0 5,880.0 Accruals 4,620.0 Total current liabilities $18,480.0 Long-term bonds 10,920.0 $29,400.0 Total liabilities Common stock 3,360.0 Retained earnings 9,240.0 $12,600.0 Total common equity Total liabilities and equity $42,000.0 Income Statement (Millions of $) 2016 Net sales $58,800.0 Operating costs except depreciation $54,978.0 $1,029.0...
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity...
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity iabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense Net Income 10,430 DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400 $...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
15. Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400...
15. Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500...
Peace Corporation Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Assets Current Assets: Cash...
Peace Corporation Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Assets Current Assets: Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets s 2.284 2,044 1,340 1,125 1,697 7,365 1,920 1,870 2,078 6,993 18,313 15,126 $ 25,678 $ 22,119 Other Assets Total Assets Liabilities Current Liabilities Long-term Liabilities Total Liabilities 7,113 8,342 2,186 11,773 10,528 4,660 Stockholders' Equity Common Stock, no par Retained Eamings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 5,691 5,900...
Greasy Spoon Restaurant - Case 1 Greasy Spoon Restaurant Balance Sheet ASSETS 2017 2016 Cash Marketable Securities Accts. Rec. Inventories Total Current Assets $12,000 66,000 152,000 191,000 $421.000 $31,000 82,000 104,000 145,000 $362,000 Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets $195,000 63,000 $132,000 $180,000 52,000 $128,000 Total Assets $553,000 $490,000 Liabilities and Equity A/P Notes Payable Accruals Total Current Liabilities $136,000 200,000 27,000 $363,000 $126,000 190,000 25,000 $341,000 Long Term debt 38,000 40,000 $381,000 Total Liabilities $401,000 Equity...
We were unable to transcribe this imageABC Company Balance Sheet Current Assets: Cash Marketable Securities AIR Inventory Prepaid Expenses Total Current Assets 5,000 35,000 225,000 150,000 75,000 490,000 75,200 25,000 150,000 75,000 75,000 500,200 75,000 Plant & Equipment less Accumulated Depreciation Net Plant &Equipment 375,000 200000 175,000 125,000 200,000 Total Assets 840,000 850,200 Current Liabilities AIP Notes Payable Accrued Expenses Total Current Liabilities 225,000 50000 465,000 75,000 50000 425,000 Bonds Payable Total Liabilities 490,000 450,000 Stockholders Equity Preferred Stock Common...
Problem 1: Below are financial statements of FIN300.01 Inc: Balance Sheet: 12/31/17 Assets Cash and Marketable Securitics Accounts Reccivable Inventorics Total Current Asscts Net plant and equipment TOTAL ASSETS 2017 10 375 61.5 1,000 2016 80 31. 41.5 810 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained carnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017 140 110 310 2016 40 G0 130 230 1,064 40 130...
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
Balance Sheet (Millions of $) Assets 2016 Cash and securities $ 1,554.0 Accounts receivable 9,660.0 Inventories 13,440.0 Total current assets $24,654.0 Net plant and equipment 17,346.0 $42,000.0 Total assets Liabilities and Equity Accounts payable Notes payable $7,980.0 5,880.0 Accruals 4,620.0 Total current liabilities $18,480.0 Long-term bonds 10,920.0 $29,400.0 Total liabilities Common stock 3,360.0 Retained earnings 9,240.0 $12,600.0 Total common equity Total liabilities and equity $42,000.0 Income Statement (Millions of $) 2016 Net sales $58,800.0 Operating costs except depreciation $54,978.0 $1,029.0...
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity iabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense Net Income 10,430 DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
15. Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500...
Peace Corporation Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Assets Current Assets: Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets s 2.284 2,044 1,340 1,125 1,697 7,365 1,920 1,870 2,078 6,993 18,313 15,126 $ 25,678 $ 22,119 Other Assets Total Assets Liabilities Current Liabilities Long-term Liabilities Total Liabilities 7,113 8,342 2,186 11,773 10,528 4,660 Stockholders' Equity Common Stock, no par Retained Eamings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 5,691 5,900...
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