CONSOUDATED BALANCE SHEETS Common-SIz Trend Analysis December 31, (In millions, except par value amounts) ASSETS 2021 2020 2020-2021 2021 2020 S Change % Change (Percent of Total Assets) CURRENT ASSETS: 600 333 Cash and Equivalents 23 44 Marketable Securities 230 444 Receivables 690 888 Inventories Other Current Assets 575 444 TOTAL CURRENT ASSETS PROPERTY AND EQUIPMENT, NET 2,875 3,220 OTHER ASSETS 2,720 2,511 TOTAL ASSETS 5,595 5,731 LIABIITIES AND STOCKHOLDERS' EQUITY CURRENT IABIUTIES: Accounts Payable Other Liabilities and Accrued Expenses 805 888 230 333 Income Taxes Payable TOTAL CURRENT UABIUTIES 35 11 NONCURRENT LUABILITIES: Long-Term Debt 2,300 1,840 Other Liabilities 115 444 TOTAL NONCURRENT IABIITIES STOCKHOLDERS' EQUITY: Class A Common Stock, $0.01 par value: 150,000 shares authorized and 103,300 shares issued 0.00% Additional Paid-in Capital 503 645 Retained Earnings 2,438 2,300 Accumulated Other Comprehensive Income (Loss) 3. (6) Treasury Stock, at Average Cost-17,662 and 16,054 at December 31, 2021 and December 31, 2020, respectively (835) (725) TOTAL STOCKHOLDERS' EQUITY TOTAL UABILITIES AND STOCKHOLDERS' EQUITY Calculate the following for: 2021 2020 Formulas/Unks: Current Ratio Working Capital in thousands) Debt Ratio (as a percent) r/a r/a n/a Va /a %24

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 93.2C
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UBERCRUMIMIE & FRITCH CO.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Trend Analysis
Common-Size Analysis
(In millions, except share and per share amounts)
Fiscal Years Ended December 31,
2020-2021
2019-2020
2021
2020
$ Change
(1,655)
(708)
2019
$ Change
% Change
% Change
(Percent of Net Sales)
2021
2020
Net sales
5,750
4,440
6,095
$
1,310
29.50%
-27.15%
100.00%
100.00%
-18.44%
66.78%
70.54%
Cost of Goods Sold
3,840
3,132
3,840
708
22.61%
1,910
1,308
2,255
46.02%
(947)
-42.00%
33.22%
29.46%
GROSS PROFIT
602
Stores and Distribution Expense
1,150
777
1,035
373
48.01%
(258)
-24.93%
20.00%
17.50%
7.50%
0.50%
3.96%
Selling, General and Administrative Expense
460
333
575
127
38.14%
(242)
-42.09%
8.00%
Other Operating Expense (Income), Net
22
(13)
-37.14%
0.21%
12
35
(10)
-45.45%
(434)
63.64%
-75.00%
OPERATING INCOME
288
176
610
112
-71.15%
5.01%
(1)
(4)
(2)
(2)
100.00%
-0.02%
-0.09%
Interest Income (Expense)
3
OPERATING INCOME BEFORE TAXES
287
172
608
115
66.86%
(436)
-71.71%
4.99%
3.87%
Income Tax Expense
115
230
(152)
-66.09%
2.00%
1.76%
78
37
47.44%
NET INCOME
$
172
24
94
378
78
82.98%
(284)
-75.13%
2.99%
2.12%
EARNINGS PER SHARE
1.98
1.07
4.20
3
Calculate the following for:
2021
2020
Formulas/Links:
4
Gross Profit Margin (percentage,
Net Profit Margin (percentage)
=E13/E11
5
26
33.22%
29.46%
=C13/C11
2.99%
2.12%
=C21/C11
=E21/E11
27
28
Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021:
29
30
31
32
33
34
Sales prices increased and unit costs of inventory decreased
Sales prices decreased and unit costs of inventory increased
35
36
Sales quantity increased and goods sold decreased
Sales quantity decreased and goods sold increased
Two of more of these are possible explanations
37
38
Instructions
A Income Statements
A Balance Sheets
+
Ready
Schedul...022.docx
DOCX
DOCX
Screen Shot
Solivio
Samantha_O
English Quiz
2021-02...1.55 PM
Transcript.pdf
М13А1
Transcribed Image Text:a M3 P Saved to my Mac ... AutoSave FF Page Layout Formulas Data Review View O Tell me me Insert Draw X v fx K N Q R T. B E G H A UBERCRUMIMIE & FRITCH CO. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME Trend Analysis Common-Size Analysis (In millions, except share and per share amounts) Fiscal Years Ended December 31, 2020-2021 2019-2020 2021 2020 $ Change (1,655) (708) 2019 $ Change % Change % Change (Percent of Net Sales) 2021 2020 Net sales 5,750 4,440 6,095 $ 1,310 29.50% -27.15% 100.00% 100.00% -18.44% 66.78% 70.54% Cost of Goods Sold 3,840 3,132 3,840 708 22.61% 1,910 1,308 2,255 46.02% (947) -42.00% 33.22% 29.46% GROSS PROFIT 602 Stores and Distribution Expense 1,150 777 1,035 373 48.01% (258) -24.93% 20.00% 17.50% 7.50% 0.50% 3.96% Selling, General and Administrative Expense 460 333 575 127 38.14% (242) -42.09% 8.00% Other Operating Expense (Income), Net 22 (13) -37.14% 0.21% 12 35 (10) -45.45% (434) 63.64% -75.00% OPERATING INCOME 288 176 610 112 -71.15% 5.01% (1) (4) (2) (2) 100.00% -0.02% -0.09% Interest Income (Expense) 3 OPERATING INCOME BEFORE TAXES 287 172 608 115 66.86% (436) -71.71% 4.99% 3.87% Income Tax Expense 115 230 (152) -66.09% 2.00% 1.76% 78 37 47.44% NET INCOME $ 172 24 94 378 78 82.98% (284) -75.13% 2.99% 2.12% EARNINGS PER SHARE 1.98 1.07 4.20 3 Calculate the following for: 2021 2020 Formulas/Links: 4 Gross Profit Margin (percentage, Net Profit Margin (percentage) =E13/E11 5 26 33.22% 29.46% =C13/C11 2.99% 2.12% =C21/C11 =E21/E11 27 28 Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021: 29 30 31 32 33 34 Sales prices increased and unit costs of inventory decreased Sales prices decreased and unit costs of inventory increased 35 36 Sales quantity increased and goods sold decreased Sales quantity decreased and goods sold increased Two of more of these are possible explanations 37 38 Instructions A Income Statements A Balance Sheets + Ready Schedul...022.docx DOCX DOCX Screen Shot Solivio Samantha_O English Quiz 2021-02...1.55 PM Transcript.pdf М13А1
Long-Term Debt
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CONSOUDATED BALANCE SHEETS
Common-Size Analysis
Trend Analysis
December 31,
(In millions, except par value amounts)
2021
2020
2021
2020
2020-2021
ASSETS
$ Change
% Change
(Percent of Total Assets)
CURRENT ASSETS:
600
333
Cash and Equivalents
23
44
Marketable Securities
230
444
Receivables
690
888
Inventories
Other Current Assets
575
444
TOTAL CURRENT ASSETS
PROPERTY AND EQUIPMENT, NET
2,875
3,220
OTHER ASSETS
2,720
2,511
TOTAL ASSETS
5,595
5,731
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT UABILUTIES:
Accounts Payable
2$
805
888
Other Liabilities and Accrued Expenses
Income Taxes Payable
230
333
35
11
TOTAL CURRENT UABILITIES
NONCURRENT UABILITIES:
Long-Term Debt
2,300
1,840
Other Liabilities
115
444
TOTAL NONCURRENT UABIUTIES
STOCKHÖLDERS' EQUITY:
Class A Common Stock, $0.01 par value: 150,000
shares authorized and 103,300 shares issued
1
0.00%
Additional Paid-In Capital
503
645
Retained Earnings
2,438
•
2,300
Accumulated Other Comprehensive Income (Loss)
3
(6)
Treasury Stock, at Average Cost-17,662 and
16,054 at December 31, 2021 and December 31, 2020,
respectively
(835)
(725)
TOTAL STOCKHOLDERS' EQUITY
TOTAL UABIUTIES AND STOCKHOLDERS' EQUITY
Calculate the following for:
2021
2020
Formulas/unks:
Current Ratio
Working Capital in thousands)
Debt Ratio (as a percent)
3.
n/a
n/a
n/a
n/a
n/a
n/a
Instructions
A Income Statements
A Balance Sheets
Ready
Schedul...022.docx
Solivio
Transcript.pdf
Transcribed Image Text:Long-Term Debt Tools Data Window Help Insert Format File Edit View Excel M3 P - ... AutoSave O OFF View O Tell me Data Review Draw Page Layout Formulas me Insert X v fx K M. F G H D B A CONSOUDATED BALANCE SHEETS Common-Size Analysis Trend Analysis December 31, (In millions, except par value amounts) 2021 2020 2021 2020 2020-2021 ASSETS $ Change % Change (Percent of Total Assets) CURRENT ASSETS: 600 333 Cash and Equivalents 23 44 Marketable Securities 230 444 Receivables 690 888 Inventories Other Current Assets 575 444 TOTAL CURRENT ASSETS PROPERTY AND EQUIPMENT, NET 2,875 3,220 OTHER ASSETS 2,720 2,511 TOTAL ASSETS 5,595 5,731 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT UABILUTIES: Accounts Payable 2$ 805 888 Other Liabilities and Accrued Expenses Income Taxes Payable 230 333 35 11 TOTAL CURRENT UABILITIES NONCURRENT UABILITIES: Long-Term Debt 2,300 1,840 Other Liabilities 115 444 TOTAL NONCURRENT UABIUTIES STOCKHÖLDERS' EQUITY: Class A Common Stock, $0.01 par value: 150,000 shares authorized and 103,300 shares issued 1 0.00% Additional Paid-In Capital 503 645 Retained Earnings 2,438 • 2,300 Accumulated Other Comprehensive Income (Loss) 3 (6) Treasury Stock, at Average Cost-17,662 and 16,054 at December 31, 2021 and December 31, 2020, respectively (835) (725) TOTAL STOCKHOLDERS' EQUITY TOTAL UABIUTIES AND STOCKHOLDERS' EQUITY Calculate the following for: 2021 2020 Formulas/unks: Current Ratio Working Capital in thousands) Debt Ratio (as a percent) 3. n/a n/a n/a n/a n/a n/a Instructions A Income Statements A Balance Sheets Ready Schedul...022.docx Solivio Transcript.pdf
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