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3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet Assets Cash Marketable securities Accounts receivable (net). Inventory. Property, plant and equipment (net). Total assets Liabilities and stockholders' equity Accounts payable. Short-term notes payable. Bonds payable Common stock. Retained earnings. Total liabilities and stockholders' equity... Net sales Cost of goods sold Gross profit Expenses Interest expense Page 8 of 9 FINANCIAL STATEMENT ANALYIS Selling expenses Administrative expenses Total expenses. Income before income taxes Income tax expense. Net income MUGS COMPANY Income Statement For the Year Ended December 31, 2015 Hetom on common amolders equity med ManEco-01 ratio 2015 P 25,000 20,000 40,000 150,000 170.000 P405.000 P 25,000 40,000 75,000 175,000 90.000 P405.000 shares. C Market value of common stock on December 31, 2015, was P15 per share. d. Net cash provided by operating activities for 2015 was P65,000. TULIO 10. Return on assets. 11. Cash debt coverage ratio. P21,000 30,000 20.000 Additional information: a. Cash dividends of P50,000 were declared and paid in 2015. b. Weighted-average number of shares of common stock outstanding during 2015 was 62,000 2014 P 40,000 60,000 30,000 170,000 200,000 P500,000 P 30,000 90,000 160.000 145,000 75.000 P500,000 Using the financial statements and additional information, compute the following ratios for the Mugs Company for 2015. Show all computations. P360,000 184,000 176,000 71,000 105,000 30,000 P 75.000

3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet Assets Cash Marketable securities Accounts receivable (net). Inventory. Property, plant and equipment (net). Total assets Liabilities and stockholders' equity Accounts payable. Short-term notes payable. Bonds payable Common stock. Retained earnings. Total liabilities and stockholders' equity... Net sales Cost of goods sold Gross profit Expenses Interest expense Page 8 of 9 FINANCIAL STATEMENT ANALYIS Selling expenses Administrative expenses Total expenses. Income before income taxes Income tax expense. Net income MUGS COMPANY Income Statement For the Year Ended December 31, 2015 Hetom on common amolders equity med ManEco-01 ratio 2015 P 25,000 20,000 40,000 150,000 170.000 P405.000 P 25,000 40,000 75,000 175,000 90.000 P405.000 shares. C Market value of common stock on December 31, 2015, was P15 per share. d. Net cash provided by operating activities for 2015 was P65,000. TULIO 10. Return on assets. 11. Cash debt coverage ratio. P21,000 30,000 20.000 Additional information: a. Cash dividends of P50,000 were declared and paid in 2015. b. Weighted-average number of shares of common stock outstanding during 2015 was 62,000 2014 P 40,000 60,000 30,000 170,000 200,000 P500,000 P 30,000 90,000 160.000 145,000 75.000 P500,000 Using the financial statements and additional information, compute the following ratios for the Mugs Company for 2015. Show all computations. P360,000 184,000 176,000 71,000 105,000 30,000 P 75.000

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 1PEB
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3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet Assets Cash. Marketable securities Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets. Liabilities and stockholders' equity Accounts payable. Short-term notes payable. Bonds payable. Common stock. Retained earnings. Total liabilities and stockholders' equity. Net sales Cost of goods sold Gross profit. Expenses Interest expense Page 8 of 9 FINANCIAL STATEMENT ANALYIS Selling expenses Administrative expenses. Total expenses. Income before income taxes Income tax expense. Net income. MUGS COMPANY Income Statement For the Year Ended December 31, 2015 c. d. Net cash provided by operating activities for 2015 was P65,000. 2 HOT on common senolders equity O arred ratio ManEco-01 2015 P 25,000 20,000 40,000 uratio 10. Return on assets 11. Cash debt coverage ratio. 150,000 170.000 P405,000 P 25,000 40,000 75,000 175,000 90,000 P405,000 P21,000 30,000 20,000 2014 P 40,000 Additional information: a. Cash dividends of P50,000 were declared and paid in 2015. b. Weighted average number of shares of common stock outstanding during 2015 was 62,000 shares. Market value of common stock on December 31, 2015, was P15 per share. 60,000 30,000 170,000 200,000 P500.000 P 30,000 90,000 160,000 145,000 75,000 P500,000 Using the financial statements and additional information, compute the following ratios for the Mugs Company for 2015. Show all computations. P360,000 184,000 176,000 T 71,000 105,000 30,000 P 75.000
Transcribed Image Text:3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet Assets Cash. Marketable securities Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets. Liabilities and stockholders' equity Accounts payable. Short-term notes payable. Bonds payable. Common stock. Retained earnings. Total liabilities and stockholders' equity. Net sales Cost of goods sold Gross profit. Expenses Interest expense Page 8 of 9 FINANCIAL STATEMENT ANALYIS Selling expenses Administrative expenses. Total expenses. Income before income taxes Income tax expense. Net income. MUGS COMPANY Income Statement For the Year Ended December 31, 2015 c. d. Net cash provided by operating activities for 2015 was P65,000. 2 HOT on common senolders equity O arred ratio ManEco-01 2015 P 25,000 20,000 40,000 uratio 10. Return on assets 11. Cash debt coverage ratio. 150,000 170.000 P405,000 P 25,000 40,000 75,000 175,000 90,000 P405,000 P21,000 30,000 20,000 2014 P 40,000 Additional information: a. Cash dividends of P50,000 were declared and paid in 2015. b. Weighted average number of shares of common stock outstanding during 2015 was 62,000 shares. Market value of common stock on December 31, 2015, was P15 per share. 60,000 30,000 170,000 200,000 P500.000 P 30,000 90,000 160,000 145,000 75,000 P500,000 Using the financial statements and additional information, compute the following ratios for the Mugs Company for 2015. Show all computations. P360,000 184,000 176,000 T 71,000 105,000 30,000 P 75.000
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