Description
Quiz Submissions – Homework #1A (Financial Statements)
Question 1
Advantage First Corporation has sales of $4,270,039; income tax of $330,994; the selling, general and administrative expenses of $251,095; depreciation of $358,481; cost of goods sold of $2,783,792; and interest expense of $122,206. What is the amount of the firm’s EBIT?
Answer:
Question 2 | ||||
Evening Story Corporation has sales of $4,175,188; income tax of $527,953; the selling, general and administrative expenses of $207,369; depreciation of $318,655; cost of goods sold of $2,417,855; and interest expense of $153,049. Calculate the amount of the firm’s gross profit.
Answer:
Question 3 | ||||
Banana Box Corporation has sales of $4,010,900; income tax of $458,731; the selling, general and administrative expenses of $273,422; depreciation of $347,802; cost of goods sold of $2,543,815; and interest expense of $129,890. Calculate the amount of the firm’s income before tax?
Answer:
Question 4 | ||||
Garden Pro Corporation has sales of $4,713,880; income tax of $350,738; the selling, general and administrative expenses of $282,512; depreciation of $341,403; cost of goods sold of $2,859,703; and interest expense of $163,941. Calculate the firm’s net income?
Answer:
Question 5 | ||||
Killer Whale, Inc. has the following balance sheet statement items: total current liabilities of $711,218; net fixed and other assets of $1,640,294; total assets of $2,873,123; and long-term debt of $613,967. What is the amount of the firm’s current assets?
Answer:
Question 6 | ||||
Purple Dalia, Inc. has the following balance sheet statement items: current liabilities of $600,156; net fixed and other assets of $1,176,268; total assets of $3,175,573; and long-term debt of $972,215. What is the amount of the firm’s total stockholder’s equity?
Answer:
Question 7 | ||||
Scare Train, Inc. has the following balance sheet statement items: current liabilities of $848,770; net fixed and other assets of $1,458,752; total assets of $3,344,882; and long-term debt of $640,871. What is the amount of the firm’s net working capital?
Answer:
Question 8 | ||||
Moby Dick Corporation has sales of $4,030,826; income tax of $541,002; the selling, general and administrative expenses of $233,069; depreciation of $331,545; cost of goods sold of $2,723,184; and interest expense of $109,959. Calculate the amount of the firm’s after-tax cash flow from operations?
Answer:
Quiz Submissions – Homework #1B (DuPont analysis, Return on Investment Ratios)
Question 1
Vintage, Inc. has a total asset turnover of 0.91 and a net profit margin of 5.83 percent. The total assets to equity ratio for the firm is 3.5. Calculate Vintage’s return on equity.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Answer:
% | ||||||
Question 2 | ||||||
American Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s Basic Earning Power ratio.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2010
Cash and marketable securities | $102,000 | Accounts payable | $287,000 |
Accounts receivable | $299,000 | Notes payable | $61,200 |
Inventories | $628,000 | Accrued expenses | $51,900 |
Prepaid expenses | $10,300 | Total current liabilities | $400,100 |
Total current assets | $1,039,300 | Long-term debt | $415,000 |
Gross fixed assets | $1,502,000 | Par value and paid-in-capital | $376,000 |
Less: accumulated depreciation | $312,000 | Retained Earnings | $1,038,200 |
Net fixed assets | $1,190,000 | Common Equity | 1,414,200 |
Total assets | $2,229,300 | Total liabilities and owner’s equity | $2,229,300 |
Income statement, Year of 2010
Net sales (all credit) | $6,387,700.00 |
Less: Cost of goods sold | $4,726,898.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $1,167,802.00 |
Interest expense | $50,600.00 |
Earnings before taxes | $1,117,202.00 |
Income taxes | $446,880.80 |
Net income | $670,321.20 |
Answer:
Question 3 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate Return on Assets.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
% | ||||||
Question 4 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate Return on Common Equity.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
% | |||
Quiz Submissions – Homework #1C (Operating performance ratios)
Question 1
- a)Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, and using a 365-day year, calculate Average Day’s Cost of Goods Sold.
Round the answers to two decimal places
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
Question 2 | ||||
- a)Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, and using cost of goods sold and a 365-day year, calculate Days of Sales in Inventory (using cost of goods sold).
Round the answers to two decimal places
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
Question 3 | ||||
- a)American Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, and using a 365-day year, calculate Average Credit Sales per Day.
Round the answers to two decimal places
Balance Sheet December 31, 2010
Cash and marketable securities | $102,000 | Accounts payable | $287,000 |
Accounts receivable | $299,000 | Notes payable | $61,200 |
Inventories | $628,000 | Accrued expenses | $51,900 |
Prepaid expenses | $10,300 | Total current liabilities | $400,100 |
Total current assets | $1,039,300 | Long-term debt | $415,000 |
Gross fixed assets | $1,502,000 | Par value and paid-in-capital | $376,000 |
Less: accumulated depreciation | $312,000 | Retained Earnings | $1,038,200 |
Net fixed assets | $1,190,000 | Common Equity | 1,414,200 |
Total assets | $2,229,300 | Total liabilities and owner’s equity | $2,229,300 |
Income statement, Year of 2010
Net sales (all credit) | $6,387,700.00 |
Less: Cost of goods sold | $4,726,898.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $1,167,802.00 |
Interest expense | $50,600.00 |
Earnings before taxes | $1,117,202.00 |
Income taxes | $446,880.80 |
Net income | $670,321.20 |
Answer:
Question 4 | ||||
- a)Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, and using a 365-day year, calculate the average collection period (also called Days of Sales in Receivables or Number of Days of Credit).
Round the answers to two decimal places
Balance Sheet December 31, 2015
Cash and marketable securities | $187,000 | Accounts payable | $217,000 |
Accounts receivable | $498,000 | Notes payable | $51,500 |
Inventories | $799,000 | Accrued expenses | $58,300 |
Prepaid expenses | $19,300 | Total current liabilities | $326,800 |
Total current assets | $1,503,300 | Long-term debt | $215,400 |
Gross fixed assets | $1,978,000 | Par value and paid-in-capital | $128,000 |
Less: accumulated depreciation | $478,000 | Retained Earnings | $2,333,100 |
Net fixed assets | $1,500,000 | Common Equity | 2,461,100 |
Total assets | $3,003,300 | Total liabilities and owner’s equity | $3,003,300 |
Income Statement, Year of 2015
Net sales (all credit) | $5,386,600.00 |
Less: Cost of goods sold | $3,716,754.00 |
Selling and administrative expenses | $329,000.00 |
Depreciation expense | $138,000.00 |
EBIT | $1,202,846.00 |
Interest expense | $39,600.00 |
Earnings before taxes | $1,163,246.00 |
Income taxes | $465,298.40 |
Net income | $697,947.60 |
Answer:
Quiz Submissions – Homework #1D Liquidity and Profitability Ratios
Question 1
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s current ratio.
Round the answers to two decimal places
Balance Sheet December 31, 2014
Cash and marketable securities | $132,000 | Accounts payable | $399,000 |
Accounts receivable | $311,000 | Notes payable | $98,500 |
Inventories | $512,000 | Accrued expenses | $89,300 |
Prepaid expenses | $11,300 | Total current liabilities | $586,800 |
Total current assets | $966,300 | Long-term debt | $799,400 |
Gross fixed assets | $2,104,000 | Par value and paid-in-capital | $298,000 |
Less: accumulated depreciation | $398,000 | Retained Earnings | $988,100 |
Net fixed assets | $1,706,000 | Common Equity | 1,286,100 |
Total assets | $2,672,300 | Total liabilities and owner’s equity | $2,672,300 |
Income Statement, Year of 2014
Net sales (all credit) | $4,276,600.00 |
Less: Cost of goods sold | $3,292,982.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $486,618.00 |
Interest expense | $49,600.00 |
Earnings before taxes | $437,018.00 |
Income taxes | $174,807.20 |
Net income | $262,210.80 |
Answer:
Question 2 | ||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s acid-test ratio (quick ratio).
Round the answers to two decimal places
Balance Sheet December 31, 2010
Cash and marketable securities | $102,000 | Accounts payable | $287,000 |
Accounts receivable | $299,000 | Notes payable | $61,200 |
Inventories | $628,000 | Accrued expenses | $51,900 |
Prepaid expenses | $10,300 | Total current liabilities | $400,100 |
Total current assets | $1,039,300 | Long-term debt | $415,000 |
Gross fixed assets | $1,502,000 | Par value and paid-in-capital | $376,000 |
Less: accumulated depreciation | $312,000 | Retained Earnings | $1,038,200 |
Net fixed assets | $1,190,000 | Common Equity | 1,414,200 |
Total assets | $2,229,300 | Total liabilities and owner’s equity | $2,229,300 |
Income statement, Year of 2010
Net sales (all credit) | $6,387,700.00 |
Less: Cost of goods sold | $4,726,898.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $1,167,802.00 |
Interest expense | $50,600.00 |
Earnings before taxes | $1,117,202.00 |
Income taxes | $446,880.80 |
Net income | $670,321.20 |
Answer:
Question 3 | ||||
American Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, caluclate the firm’s the net-working capital – to-sales ratio.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2010
Cash and marketable securities | $102,000 | Accounts payable | $287,000 |
Accounts receivable | $299,000 | Notes payable | $61,200 |
Inventories | $628,000 | Accrued expenses | $51,900 |
Prepaid expenses | $10,300 | Total current liabilities | $400,100 |
Total current assets | $1,039,300 | Long-term debt | $415,000 |
Gross fixed assets | $1,502,000 | Par value and paid-in-capital | $376,000 |
Less: accumulated depreciation | $312,000 | Retained Earnings | $1,038,200 |
Net fixed assets | $1,190,000 | Common Equity | 1,414,200 |
Total assets | $2,229,300 | Total liabilities and owner’s equity | $2,229,300 |
Income statement, Year of 2010
Net sales (all credit) | $6,387,700.00 |
Less: Cost of goods sold | $4,726,898.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $1,167,802.00 |
Interest expense | $50,600.00 |
Earnings before taxes | $1,117,202.00 |
Income taxes | $446,880.80 |
Net income | $670,321.20 |
Answer:
% | ||||||
Question 4 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s gross profit margin.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2013
Cash and marketable securities | $112,000 | Accounts payable | $211,000 |
Accounts receivable | $325,000 | Notes payable | $51,500 |
Inventories | $426,000 | Accrued expenses | $50,100 |
Prepaid expenses | $10,700 | Total current liabilities | $312,600 |
Total current assets | $873,700 | Long-term debt | $225,000 |
Gross fixed assets | $1,514,000 | Par value and paid-in-capital | $117,000 |
Less: accumulated depreciation | $315,000 | Retained Earnings | $1,418,100 |
Net fixed assets | $1,199,000 | Common Equity | 1,535,100 |
Total assets | $2,072,700 | Total liabilities and owner’s equity | $2,072,700 |
Income Statement, Year of 2013
Net sales (all credit) | $3,256,600.00 |
Less: Cost of goods sold | $2,572,714.00 |
Selling and administrative expenses | $323,000.00 |
Depreciation expense | $115,000.00 |
EBIT | $245,886.00 |
Interest expense | $29,600.00 |
Earnings before taxes | $216,286.00 |
Income taxes | $86,514.40 |
Net income | $129,771.60 |
Answer:
% | ||||||
Question 5 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s the operating profit margin.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
% | ||||||
Question 6 | ||||||
American Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s net profit margin.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2010
Cash and marketable securities | $102,000 | Accounts payable | $287,000 |
Accounts receivable | $299,000 | Notes payable | $61,200 |
Inventories | $628,000 | Accrued expenses | $51,900 |
Prepaid expenses | $10,300 | Total current liabilities | $400,100 |
Total current assets | $1,039,300 | Long-term debt | $415,000 |
Gross fixed assets | $1,502,000 | Par value and paid-in-capital | $376,000 |
Less: accumulated depreciation | $312,000 | Retained Earnings | $1,038,200 |
Net fixed assets | $1,190,000 | Common Equity | 1,414,200 |
Total assets | $2,229,300 | Total liabilities and owner’s equity | $2,229,300 |
Income statement, Year of 2010
Net sales (all credit) | $6,387,700.00 |
Less: Cost of goods sold | $4,726,898.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $1,167,802.00 |
Interest expense | $50,600.00 |
Earnings before taxes | $1,117,202.00 |
Income taxes | $446,880.80 |
Net income | $670,321.20 |
Answer:
% | |||
Quiz Submissions – Homework #1E (Activity and Leverage Ratios)
Question 1
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s inventory turnover ratio.
Round the answers to two decimal places
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
Question 2 | ||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s accounts receivable turnover ratio.
Round the answers to two decimal places
Balance Sheet December 31, 2015
Cash and marketable securities | $187,000 | Accounts payable | $217,000 |
Accounts receivable | $498,000 | Notes payable | $51,500 |
Inventories | $799,000 | Accrued expenses | $58,300 |
Prepaid expenses | $19,300 | Total current liabilities | $326,800 |
Total current assets | $1,503,300 | Long-term debt | $215,400 |
Gross fixed assets | $1,978,000 | Par value and paid-in-capital | $128,000 |
Less: accumulated depreciation | $478,000 | Retained Earnings | $2,333,100 |
Net fixed assets | $1,500,000 | Common Equity | 2,461,100 |
Total assets | $3,003,300 | Total liabilities and owner’s equity | $3,003,300 |
Income Statement, Year of 2015
Net sales (all credit) | $5,386,600.00 |
Less: Cost of goods sold | $3,716,754.00 |
Selling and administrative expenses | $329,000.00 |
Depreciation expense | $138,000.00 |
EBIT | $1,202,846.00 |
Interest expense | $39,600.00 |
Earnings before taxes | $1,163,246.00 |
Income taxes | $465,298.40 |
Net income | $697,947.60 |
Answer:
Question 3 | ||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s accounts receivable turnover ratio.
Round the answers to two decimal places
Balance Sheet December 31, 2013
Cash and marketable securities | $112,000 | Accounts payable | $211,000 |
Accounts receivable | $325,000 | Notes payable | $51,500 |
Inventories | $426,000 | Accrued expenses | $50,100 |
Prepaid expenses | $10,700 | Total current liabilities | $312,600 |
Total current assets | $873,700 | Long-term debt | $225,000 |
Gross fixed assets | $1,514,000 | Par value and paid-in-capital | $117,000 |
Less: accumulated depreciation | $315,000 | Retained Earnings | $1,418,100 |
Net fixed assets | $1,199,000 | Common Equity | 1,535,100 |
Total assets | $2,072,700 | Total liabilities and owner’s equity | $2,072,700 |
Income Statement, Year of 2013
Net sales (all credit) | $3,256,600.00 |
Less: Cost of goods sold | $2,572,714.00 |
Selling and administrative expenses | $323,000.00 |
Depreciation expense | $115,000.00 |
EBIT | $245,886.00 |
Interest expense | $29,600.00 |
Earnings before taxes | $216,286.00 |
Income taxes | $86,514.40 |
Net income | $129,771.60 |
Answer:
Question 4 | ||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s fixed asset turnover ratio.
Round the answers to two decimal places
Balance Sheet December 31, 2012
Cash and marketable securities | $198,000 | Accounts payable | $288,000 |
Accounts receivable | $469,000 | Notes payable | $65,000 |
Inventories | $577,000 | Accrued expenses | $84,000 |
Prepaid expenses | $15,700 | Total current liabilities | $437,000 |
Total current assets | $1,259,700 | Long-term debt | $237,000 |
Gross fixed assets | $1,954,000 | Par value and paid-in-capital | $199,000 |
Less: accumulated depreciation | $476,000 | Retained Earnings | $1,864,700 |
Net fixed assets | $1,478,000 | Common Equity | 2,063,700 |
Total assets | $2,737,700 | Total liabilities and owner’s equity | $2,737,700 |
Income Statement, Year of 2012
Net sales (all credit) | $7,546,600.00 |
Less: Cost of goods sold | $6,112,746.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $145,000.00 |
EBIT | $939,854.00 |
Interest expense | $49,500.00 |
Earnings before taxes | $890,354.00 |
Income taxes | $356,141.60 |
Net income | $534,212.40 |
Answer:
Question 5 | ||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s total debt-to-assets ratio ratio (also called Debt ratio).
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2013
Cash and marketable securities | $112,000 | Accounts payable | $211,000 |
Accounts receivable | $325,000 | Notes payable | $51,500 |
Inventories | $426,000 | Accrued expenses | $50,100 |
Prepaid expenses | $10,700 | Total current liabilities | $312,600 |
Total current assets | $873,700 | Long-term debt | $225,000 |
Gross fixed assets | $1,514,000 | Par value and paid-in-capital | $117,000 |
Less: accumulated depreciation | $315,000 | Retained Earnings | $1,418,100 |
Net fixed assets | $1,199,000 | Common Equity | 1,535,100 |
Total assets | $2,072,700 | Total liabilities and owner’s equity | $2,072,700 |
Income Statement, Year of 2013
Net sales (all credit) | $3,256,600.00 |
Less: Cost of goods sold | $2,572,714.00 |
Selling and administrative expenses | $323,000.00 |
Depreciation expense | $115,000.00 |
EBIT | $245,886.00 |
Interest expense | $29,600.00 |
Earnings before taxes | $216,286.00 |
Income taxes | $86,514.40 |
Net income | $129,771.60 |
Answer:
% | ||||||
Question 6 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s total debt-to-equity ratio.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).
Balance Sheet December 31, 2014
Cash and marketable securities | $132,000 | Accounts payable | $399,000 |
Accounts receivable | $311,000 | Notes payable | $98,500 |
Inventories | $512,000 | Accrued expenses | $89,300 |
Prepaid expenses | $11,300 | Total current liabilities | $586,800 |
Total current assets | $966,300 | Long-term debt | $799,400 |
Gross fixed assets | $2,104,000 | Par value and paid-in-capital | $298,000 |
Less: accumulated depreciation | $398,000 | Retained Earnings | $988,100 |
Net fixed assets | $1,706,000 | Common Equity | 1,286,100 |
Total assets | $2,672,300 | Total liabilities and owner’s equity | $2,672,300 |
Income Statement, Year of 2014
Net sales (all credit) | $4,276,600.00 |
Less: Cost of goods sold | $3,292,982.00 |
Selling and administrative expenses | $349,000.00 |
Depreciation expense | $148,000.00 |
EBIT | $486,618.00 |
Interest expense | $49,600.00 |
Earnings before taxes | $437,018.00 |
Income taxes | $174,807.20 |
Net income | $262,210.80 |
Answer:
% | ||||||
Question 7 | ||||||
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firm’s Interest Coverage ratio (also called Times Interest Earned).
Round the answers to two decimal places.
Balance Sheet December 31, 2011
Cash and marketable securities | $143,000 | Accounts payable | $278,000 |
Accounts receivable | $354,000 | Notes payable | $87,000 |
Inventories | $672,000 | Accrued expenses | $65,000 |
Prepaid expenses | $12,500 | Total current liabilities | $430,000 |
Total current assets | $1,181,500 | Long-term debt | $284,000 |
Gross fixed assets | $1,675,000 | Par value and paid-in-capital | $228,000 |
Less: accumulated depreciation | $500,000 | Retained Earnings | $1,414,500 |
Net fixed assets | $1,175,000 | Common Equity | 1,642,500 |
Total assets | $2,356,500 | Total liabilities and owner’s equity | $2,356,500 |
Income Statement Year of 2011
Net sales (all credit) | $3,136,600.00 |
Less: Cost of goods sold | $2,195,620.00 |
Selling and administrative expenses | $345,000.00 |
Depreciation expense | $146,000.00 |
EBIT | $449,980.00 |
Interest expense | $45,300.00 |
Earnings before taxes | $404,680.00 |
Income taxes | $161,872.00 |
Net income | $242,808.00 |
Answer:
Quiz Submissions – Homework #1F (Market Value Ratios)
Question 1
All Star Corp.’s stock price at the end of last year was $115.61. The company’s earnings per share for the last year were $19.97. Calculate company’s P/E ratio.
Round the answer to two decimal places.
Answer:
Question 2 | ||||
Symphony Corp.’s stock price at the end of last year was $76.25, and the company’s book value per share was $42.62. Calculate market/book ratio.
Round the answer to two decimal places.
Answer:
Question 3 | ||||
Last year, Holland Tulip Inc. paid $26.14 million in common stock dividends. The company has 20.37 million shares outstanding. Calculate the firm’s dividends per share ratio.
Round the answer to two decimal places.
Answer:
Question 4 | ||||
Serenade Corp.’s cash flow last year was $453.92 million. The company has 229.80 million shares outstanding. What is the firm’s cash flow per share ratio?
Round the answer to two decimal places.
Answer:
Question 5 | ||||
Yellow Iris Corp.’s net income last year was $244.58 million. The company has 29.03 million shares outstanding. What is the firm’s EPS?
Round the answer to two decimal places.
Answer:
Question 6 | ||||
Rose Water Corp.’s net income last year was $244.42 million. The company has 106.97 million shares outstanding. The company’s stock price at the end of last year was $115.79. What is the firm’s P/E ratio?
Round the answer to two decimal places.
Answer:
Question 7 | ||||
Cardamom Corp.’s total common equity is $143.21 million. The company has 93.41 million shares outstanding. What is the firm’s book value per share?
Round the answer to two decimal places.
Answer:
Question 8 | ||||
Black Dahlia Corp.’s stock price at the end of last year was $47.30. Black Dahlia Corp.’s total common equity is $100.30 million. The company has 8.75 million shares outstanding. What is the firm’s market-to-book ratio?
Round the answer to two decimal places.
Answer:
Question 9 | ||||
Crab Feast Corp.’s cash flow last year was $117.91 million. The company has 6.72 million shares outstanding. Crab Feast Corp.’s stock price at the end of last year was $66.43. What is the firm’s price-to-cash flow ratio?
Round the answer to two decimal places.
Answer:
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