A firm’s balance sheets for year-end 2018 and 2019 contain the following data. All items are in millions of dollars. Dec. 31, 2018 Dec. 31, 2019 Accounts receivable 33.0 36.5 Inventories 26.0 30.5 Accounts payable 13.0 26.5 What happened to investment in net working capital during 2019? (Enter your answer in millions rounded to 1 decimal place.)
Q: Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in…
A: 2020 2019 Total current assets 11,450 9,625 Total current liabilities…
Q: Suppose these selected condensed data are taken from recent balance sheets of Tyson Farms (in…
A: Tyson Farm's Current ratio : Current ratio is defined as the current assets is divided by the…
Q: The following data are taken from the balance sheet at the end of the current year. Cash Accounts…
A: The current ratio is a liquidity ratio used to measure a company's ability to pay short-term or…
Q: The following data come from the financial records of Rundle Corporation for 2018: How many times…
A: Time interest earned ratio measure the ability of the company to meet its obligations of debt. It is…
Q: Bramble Inc., had the following condensed balance sheet at the end of operations for 2019. BRAMBLE…
A: Cash flow statement includes: Cash flows from Operating activities Cash flows from investing…
Q: An analyst has compiled the following information relating to a company for the year ended 31…
A: Return on equity (ROE)=Net Profit after taxTotal Shareholder's Equity at year-end×100
Q: Refer to the data below. $ 349,500 Retained earnings, December 31, 2019 Cost of buildings purchased…
A: Retained earnings balance as of December 31, 2020, = Retained earning December 31, 2019, + Net…
Q: Use the following information from Sketchers, Inc.'s financial statements for the fiscal year ended…
A: Answer: d. $2,820 million.
Q: Sandhill Company had the following information available at the end of 2020. SANDHILLCOMPANY…
A: A cash flow statement is a financial statement that shows the amount of cash and cash equivalents…
Q: The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $1.87 million, and…
A: Cash Flow From Operating Activities= Cash Flow From operating Activities Include the cash flow…
Q: The December 31, 2018, balance sheet of Whelan Inc., showed $139,000 in the common stock account and…
A: Cash Flow to shareholders refers to amount of Cash in hand or transfer of Bank account to the common…
Q: Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp. .1)What was the…
A: Solution: Introduction: A balance sheet is a summary of financial balances of an individual or…
Q: Financial statements, cash flow and taxes The 2018 and 2019 year-end balance sheets of Kairos…
A: Cashflow Statement - It is the statement showing change in the net cash over a particular period of…
Q: A firm's balance sheets for year-end 2011 and 2012 contain the following data. All items are in…
A: Formulas: Net working capital = Current assets - Current liabilities
Q: Webster and Company had a balance in their retained earnings account at the end of 2020 in the…
A: Formula: Addition to Retained earnings = Net income - Dividends.
Q: The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC.…
A: Particulars Amount Cash $200 Short-term investments 150 Accounts receivable 200 Quick Assets…
Q: The following data were taken from Alvarado Company's balance sheet: Dec. 31, 2019 Dec. 31, 2018…
A: The ratio of liabilities to owner’s equity is calculated to measure whether the company’s financing…
Q: e 2018 and 2019 year-end balance sheets of Kairos Industries are shown below: 2019…
A: Step 1 1 The greater the dividend income received by shareholders, the higher the tax burden on the…
Q: The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $5.8 million, and the…
A: Cash flows are the cash generated from the operation of the business organisation. In other words,…
Q: he Dec 31, 2018 balance sheet of Whelan inc., showed $138,000 in the common stock account and…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: Use the following information for the next three (3) questions: The ledger of Kara Company in 2021…
A: Current assets are realizable within one year, So it includes account receivable cash, prepaid, and…
Q: The companys earnings for the past three years indicated the following pattern \ Year Amount ( Shs)…
A: Annual Earnings( in millions) Remark YEAR 2018 2019 2020 2021 Earnings ($)…
Q: The comparative balance sheet of Best Buy for January 31, 2020 and 2019, is shown as follows (values…
A: Statement of cash flow is prepared to assess the flow of cash during the accounting period. The…
Q: On December 31, 2019, Clean and White Linen Supplies Ltd. had the following account balances: Cash…
A: Cash Account Particulars Amount Particulars Amount Balance b/d $90,000 Insurance Premium…
Q: Contrast the company's 2019 financial ratios with the financial ratios presented by the industry.…
A: Quick Assets = Total Current Assets - Inventory - Prepaid Expenses =…
Q: A company has the following selected data ($ in millions): 2021 2020 Balance sheet data…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: Whispering Inc., a greeting card company, had the following statements prepared as of December 31,…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $5.7 million, and the…
A:
Q: The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,455,000 and the…
A: Long term debt (2018)= $14,55,000 Long term debt(2019) = $16,90,000 So, Increase in Long Term Debt…
Q: The net changes in the balance sheet accounts of Linda, Inc. for the year 2021 are shown below:…
A: Statement of cash flows of Linda, Inc. is as follows:
Q: Pretty Co.'s total liabilities and equity amounted to $285,000 for year 2018. The financial…
A: Formula: Accounting Equation: Assets = Liabilities + Owners equity
Q: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating…
A: Cash flow statement is one the important financial statement prepared along with other major…
Q: Following are the current asset and current liability sections of the balance sheets for Freedom…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed…
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…
Q: The following data are from annual reports of Jen's Jewelry Company: 2021 2020 2019 Total assets…
A: Net profit margin ratio = Net profit / Sales revenue
Q: During the year ended june 30, 2020, a ceramic manufaturing unit earned $439,000. After paying out…
A: After incurring all the expenses including dividends paid, the balance amount which was retained by…
Q: These financial statement items are for Pharoah Company at year-end, July 31, 2020. Salaries and…
A: Formula: Net income = Total Revenues -Total expenses
Q: An analysis of the transactions of Cavernous Homes Inc. yields the following totals at December 31,…
A: Cavernous Homes Inc. Balance Sheet December'31, 2019 Assets Current Assets Cash $…
Q: working capital and current ratio
A: Working capital = Total current assets - Total current liabilities
Q: A. Below are the accounts of Agatha Trading for the year ended December 31, 2019. Accounts…
A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: The financial statements for Lexington Service Company include the following items: Account 2019…
A: Current ratio = Current assets/Current liabilities
Q: the 2019 balance sheet of Dyrdeks skate shop showed $570,000 in the common stock account and $2.4…
A: A type of publicly traded security that provides ownership and voting rights to its holder is term…
Q: Gojo Company had the following transactions involving current assets and current liabilities during…
A: The current ratio is calculated by dividing the current assets by the current liabilities.
Q: Some selected financial statement items belonging to PXR Company are given in the table below.…
A: Return On Assets (ROA) Ratio is a profitability Ratio that measure the amount of net income produced…
Q: Bramble Inc., had the following condensed balance sheet at the end of operations for 2019. BRAMBLE…
A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing…
Q: Kingbird Inc., had the following condensed balance sheet at the end of operations for 2019.…
A: The cash flow statement segregates the total cash flows into three activities to give a more clear…
Q: You are given the financial statements of a company for over the 6-year periods (2016 – 2021).…
A: Trend index The purpose of preparing the trend index is to know the actual trend which are involved…
Q: The 2018 balance sheet of Speith's Golf Shop, Inc., showed long-term debt of $6.2 million, and the…
A: Step 1:- Calculate cash flow to creditors * Cash flow to creditors represents the payment made by a…
A firm’s balance sheets for year-end 2018 and 2019 contain the following data. All items are in millions of dollars.
Dec. 31, 2018 | Dec. 31, 2019 | |
Accounts receivable | 33.0 | 36.5 |
Inventories | 26.0 | 30.5 |
Accounts payable | 13.0 | 26.5 |
What happened to investment in net working capital during 2019? (Enter your answer in millions rounded to 1 decimal place.)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 2 images
- A firm's balance sheets for year-end 2021 and 2022 contain the following data. All items are in millions of dollars. Accounts receivable Inventories Accounts payable December 31, December 31, 2021 2022 32.2 36.1 30.1 26.1 Net working capital has 25.2 12.2 What happened to investment in net working capital during 2022? Note: Enter your answer in millions rounded to 1 decimal place. by million.Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…Prepare a Projected Statement of Financial Position of Sky Company dated December 31, 2019. Below is the list of accounts. Follow the Pro-forma Statement of Financial Position. Lists of accounts & their respective amount: Net, PPE – 7,627,900 Cash - 640,000 Accounts payable -5,189,350 Accounts receivable -4,224,948 Owner’s Equity -16,240,316 Short-term investments – 9,495,393 Short-term borrowings: Inventories – 1,076,000 Payable to PPE supplier - 1,200,000 Accrued taxes – 434,575
- The following data is extracted from ABC Bank financial statements for the financial year ended 31 December 2021, equity $600 million, interest expense $190 million, provision for loan loss (P) $28 million, noninterest income $25 million, noninterest expense $45 million and a tax rate is 33%. Calculate the minimum total interest income required to give a return on equity (ROE) of 14%. Please show each step of your calculation.You are considering two possible companies for investment purposes. The following data is available for each company. Company A Net credit sales, Dec. 31, 2019 $540,000 Net Accounts receivable, Dec 31, 2018 $120,000 Net accounts receivable, Dec 31, 2019 $180,000 Number of days sales in receivables ratio, 2018 103 days Net Income, Dec. 31, 2018 $250,000 Company B Net credit sales, Dec. 31, 2019 $620,000 Net Accounts receivable, Dec 31, 2018 $145,000 Net accounts receivable, Dec 31, 2019 $175,000 Number of days sales in receivables ratio, 2018 110 days Net Income, Dec. 31, 2018 $350,000 Additional Information: Company A: Bad debt estimation percentage using the income statement method is 6%, and the balance sheet…Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Calculate the following financial ratios for each year: current ratio? quick ratio? cash ratio? debt-equity ratio and equity multiplier? total debt ratio?
- Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). Current assets 3M Company Balance Sheets (partial) Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities Screenshot Current ratio Working capital 2022 $ $3,180 3,600 2,738 1,932 $11,450 $4,830 2021 $1,836 3,180 3,019 1,590 Suppose that at the end of 2022, 3M management used $183 million cash to pay off $183 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital answer to million.) $9,625 $5,887 :1 million Done3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 % see picturesProblem 17-2A (Algo) Ratios, common-size statements, and trend percer [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 $546,242 328,838 217,404 77,566 49,162 126,728 90,676 16,866 $ 73,810 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 418,466 263,634 2021 % 154,832 57,748 36,825 94,573 60, 259 12,353 $ 47,906 % $61,141 0 113,547…
- Question Connor Tax Services reported net income of £6,500. Listed below is the classified statement of financial position for connor Tax Services for 2020. Required: Calculate CONNOR Tax Service's Return on Assets. Show all your calculations!Calculate the following ratios for 2025 and 2026. (Round current ratio to 2 decimal places, e.g. 12.61, debts to assets and gross profit rate to 0 decimal places, e.g.12, and all other answers to 1 decimal place, e.g. 12.6%) Please show your work. 1. Current ratio 2. Debts to assets 3. Gross profit rate 4. Profit margin 5. Return on assets (Total assets at November 1, 2024, were $35,180) 6. Return on common stockholder's equity (Total common stockholders' equity at November 1, 2024, was $25, 180. Dividends on preferred stock were $16,800 in 2025 and $18,000 in 2026)compute the amount of liabilities for December 31 2018. assets for 2018 119,000. december 2019 assets 113,000. liabilities 70,000.stock issuance 6,500. net income 20,000. cash dividends 11,000.