How can I complete this mentIculationsSelect the images below to enlarge.Balance SheetCurrent AssetsatMurawski CompanyBalance SheetDecember 31XInvestmentsCash and cash equivalentsAccounts receivable (net)Current liabilitiesProperty, plant, and equipmentIntangibles and other assetsTotal assetsInventoryPrepaid expensesTotal current assetsLong-term liabilitiesStockholder's equity - commonTotal liabilities and stockholder's equitySales RevenueMurawski CompanyIncome StatementFor the Years Ended December 31F6Costs and expenses2022Cost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expensesIncome before income taxes$3304704601201,380Income Statement10420530$2,340Income tax expenseNet Income$9004101,030$2.34020212022$3,8009552,400253,3808$3604003901601,31010380510$2.210420126$294$7903801,040$2,2102021$3,4608902,330203,24022066$154WCalculate the 2021 current ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500prt scExample··= 800IICurrent Ratio 2021Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.homer1.88endCinsert

The liquidity ratios are performed to analyse the ability of business to pay off its short term…

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities 2022 Long-term liabilities Stockholder's equity-common Total liabilities and stockholder's equity Murawski Company fatement $330 470 460 120 1,380 10 420 530 $2,340 2021 $900 410 Income Statement $360 400 390 160 1,310 10 380 510 $2.210 $790 380 1,040 1,030 $2.340 $2.210 Calculate the 2021 current Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 ÷ Example 800 = = 1.88 Current Ratio 2021 =

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities 2022 Long-term liabilities Stockholder's equity-common Total liabilities and stockholder's equity Murawski Company fatement $330 470 460 120 1,380 10 420 530 $2,340 2021 $900 410 Income Statement $360 400 390 160 1,310 10 380 510 $2.210 $790 380 1,040 1,030 $2.340 $2.210 Calculate the 2021 current Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 ÷ Example 800 = = 1.88 Current Ratio 2021 =

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 13MCQ

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Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable. Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $ 31,000 18,000 58,000 12,000 119,000 374,000 190,000 184,000 $ 303,000 $ 13,000 52,000 67,000 132,000 76,000 208,000 Beginning Balance $ 28,000 20,000 56,000 10,000 114,000 354,000 165,000 189,000 $ 303,000 $ 9,000 53,000 69,000 131,000 73,000 204,000 28,000 26,000 67,000 73,000 95,000 99,000 $ 303,000 $ 303,000 The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or…
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment Income before taxes Income taxes Net income $ 705 403 302 222 80 11 91 35 $ 56 Ending Balance $ 38 49 58 145 460 258 202 $ 347 $ 51 24 47 122 97 219 42 86 128 $ 347 Beginning Balance $ 33 52 52 137 420 252 168 $ 305 $ 47 18 47 112 124 236 32 37 69 $…
Illies Corporation's comparative balance sheet appears below: Beginning Balance Assets: Current assets Cash and cash equivalents. Accounts receivable. Inventory. Total current assets Property, plant, and equipment. Less accumulated depreciation. Net property, plant, and equipment. Total assets. Liabilities and Stockholders' Equity Current liabilities: Accounts payable. Accrued wages and salaries payable.. Accrued income taxes payable. Notes payable. Total current liabilities. Long-term debt. Deferred income taxes. Total liabilities Stockholders' equity: Common stock. Retained earnings. Ending Balance Select one: $ 40,000 19,000 O a. $7,000 O b. $40,000 O c. $29,000 O d. $33,000 67,000 126,000 123,000 358,000 339,000 156,000 132,000 202.000 $328,000 $ 33,000 21,000 69,000 $ 18,000 35,000 23,000 207.000 $330,000 23,000 103,000 22,000 102,000 Total stockholders' equity 126,000 124.000 Total liabilities and stockholders' equity.... $328,000 $330.000 $ 19,000 37,000 19,000 19,000 22,000…
Autry Corporation's balance sheet and income statement appear below: Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Comparative Balance Sheet Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 870 511 359 136 223 Ending Balance $ 46 79 58 183 652 251 401 $ 584 $ 53 30 58 141 81 222 56 306 362 $ 584 Beginning Balance $ 47 78 56 181 535 284 251 $ 432 $ 57 29 62 148 75 223 55 154 209 $ 432
Liquid assets is determined by Select one: a. Current assets - current liabilities O b. Current liabilities- Bank overdraft c. Current assets +stock+ prepaid expenses O d. Current assets-stock-Prepaid expenses
Current assets DIVIDED BY current liabilities is the Current Ratio Net Worth Ratio Working Capital
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What data flows from the statement of retained earnings to the balance sheet?a. Net incomeb. Cashc. Ending retained earningsd. Assets
What item flows from the income statement to the statement of retained earnings?a. Cashb. Dividendsc. Net incomed. Inventory
What item flows from the statement of retained earnings to the balance sheet?a. Cashb. Dividendsc. Net incomed. Retained earnings
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