Mailings Review View Help EEEEET E Paragraph 1 Sales Cost of goods sold Gross profit from sales Other expenses PART A: A

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Mailings Review View Help Eeeeet E Paragraph 1 Sales Cost Of Goods Sold Gross Profit From Sales Other Expenses Part A A 1 (59.41 KiB) Viewed 4 times

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Mailings Review View Help EEEEET E Paragraph 1 Sales Cost of goods sold Gross profit from sales Other expenses PART A: A business has the following financial information for the year. Salaries and wages expense Depreciation expense Rent expense Income tax expense Net Income F Accounts receivable Merchandise inventory AaBbCcl AaBbCc AaBbCcl AaBbC AaBbC 1 Normal 1 Subtitle 1 No Spac... Heading 1 Title PULLMAN COMPANY Income Statement For Year Ended December 31, 2017 Dec. 31, 2017 $27,600 22,300 550 $15,000 7,000 3,200 15,900 27,100 10,400 300 Balance Prepaid rent Accounts payable Salaries and wages payable Income taxes payable Determine net cash flow from operating activities (be sure to show and label your work). Styles 5 $180,000 104,000 $76,000 41,100 $34,900 Dec. 31, 2016 $24,000 20,000 400 26,000 9,000 250
PART B A Business has the following financial statement information for the year: MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 ASSETS Cash Accounts receivable Inventory Net plant and equipment Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Sales (all on credit) Cost of goods sold Gross profit Sales and administrative expenses Depreciation Operating profit Interest expense Profit before taxes Taxes (30%) Net income $50,000 70,000 . 110,000 220.000 $450,000 $70,000 50,000 130,000 70,000 40,000 90.000 $450,000 $875,000 600.000 $275,000 30.000 55.000 $190,000 25.000 $165,000 49.500 $115,500
E-E-F- 3 E 三雄、 Paragraph Net income T 55 AaBbCcI AaBbCch AaBbCcl AaBbC AaB 1 Normal 1 Subtitle 1 No Spac... Heading 1 Tith 1. Determine return on assets (be sure to show and label your work). 2. Determine after tax profit margin (be sure to show and label your work). IMINEE $115,500 3. Determine return on equity (be sure to show and label your work). 6. Determine quick ratio (be sure to show and label your work). 4. Determine average collection period, assuming a 360 year (be sure to show and label your work). 5. Determine receivables turnover, assuming a 360 day year (be sure to show and label your work) 7. Determine current ratio (be sure to show and label your work) 8. Determine total asset turnover (be sure to show and label your work) Styles 5
Mailings Review View Help AEEE ENT - Paragraph 1 F AaBbCct AaBbCd AaBbCck AaBbC AaBbC 1 Normal 1 Subtitle 1 No Spac. Heading 1 Title Styles 3. Determine return on equity (be sure to show and label your work). 4. Determine average collection period, assuming a 360 year (be sure to show and label your work). 5. Determine receivables turnover, assuming a 360 day year (be sure to show and label your work). 2 6. Determine quick ratio (be sure to show and label your work). 7. Determine current ratio (be sure to show and label your work). 8. Determine total asset turnover (be sure to show and label your work). 9. Determine debt to total assets ratio (be sure to show and label your work). 10. Determine times interest earned (be sure to show and label your work)