Accounting: What the Numbers Mean
11th Edition
ISBN: 9781259535314
Author: David Marshall, Wayne William McManus, Daniel Viele
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 2, Problem 2.9E
Exercise 2.9
LQ 2 , 3
Understanding financial statement relationships The information presented here represents selected data from the December 31, 2016,
Firm A | Firm B | Firm C | |
Total assets, 12/31/16 | $210,000 | $270,000 | $162,000 |
Total liabilities, 12/31/16 | 108,000 | 72,000 | ? |
Paid-in capital, 12/31/16 | 37,000 | ? | 20,000 |
Retained earnings, 12/31/16 | ? | 155,000 | ? |
Net income for 2016 | ? | 41,000 | 56,000 |
Dividends declared and paid during 2016 | 25,000 | 9,000 | 32,000 |
Retained earnings, 1/1/16 | 39,000 | ? | 21,000 |
Required:
Calculate the missing amounts for each firm.
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INSTRUCTIONS
Section 1- Financial Analysis
FSA Company's Summary Financial Data
(In billions, except per share
data)
2020
2019
2018
2017
2016
Net Sales
30.20
29.70
29.10
29.40
28.50
Gross Profit
16.10
17.30
17.20
16.80
16.60
Operating Income
Net Income
12.50
12.90
12.10
12.70
12.80
11.90
0.90
12.80
11.60
11.80
1.70
11.80
Restructuring charge (after tax)
Net Income before restructuring
Op Income before restructuring
1.30
1.00
0.50
L10
12.80
12.90
1390
12.90
12.20
13.80
13.90
13.00
13.20
17.80
20.90
14.40 13 50
5.00
Total Assets
21.00
19.00
18.30
Total Liabilities
15.00
13.80
12.60
Long Term Debt
Shareholder Equity
Treasury Stock at cost
6.60
6.00
6.00
5.20
5.40
6.50
5.70
5.50
5.20
4.00
3.50
6. 10
5.30
5.20
29 32
28.54
28 29
28.04
Basic Earnings per share.
Cash Dividends per share
29.00
14.50
14.20
14.00
13.60
13.00
53.00
Closing Stock Price
Shares Outstatiding (billions)
75.00
63.00
64.00
69.00
0.40
0.41
0.42
0,41
0 42
Using the above information, kindly prepare the following:
a)…
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are
as of the end of the fiscal year (in millions).
2017
2016
Net sales
$4,750
$5,401
Cost of goods sold
3,901
3,500
Net income
55
120
Accounts receivable
65
109
Inventory
1,250
1,350
Total assets
2,850
3,150
Total common stockholders' equity
961
1,111
Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8
or 2.5%)
Exercise #5
Bronx Company provided the following financial statements for the years 2011 and 2012:
Assets
2012
31,000
2011
53,000
87,000
346,000
432,000
918,000
1,113,00
2031,000
Cash
Marketable securities
Accounts receivable
528,000
683,000
1,242,00
1,398,000
2,640,000
Inventories
Current assets
Net fixed assets
Total Assets
Liabilies &Equity
Accounts payable
Accrued expenses
Bank borwings
Current labilties
Common stock
Retained eamings
Totalliabilities & equity
413,000
226,000
100,000
739.000
100,000
1,192.000
2031.000
627,000
314000
235,000
1,176,000
100,000
1,364,00
2, 640,000
Note: For 2012, depreciation was P189,000 interest paid was P21,000; taxes paid amounted to
P114,000; and no dividends were paid.
Required:
Prepare a statement of cash flows using the indirect method. Create charts using Excel to highlight the
firm's flow of cash.
Chapter 2 Solutions
Accounting: What the Numbers Mean
Ch. 2 - Prob. 2.1MECh. 2 - Prob. 2.2MECh. 2 - Prob. 2.3MECh. 2 - Prob. 2.4MECh. 2 - Mini-Exercise 2.5 LO 2. 4 Identify accounts by...Ch. 2 - Mini-Exercise 2.6 LO 2. 4 Identify accounts by...Ch. 2 - Prob. 2.7ECh. 2 - Exercise 2.8 LO 2. 4 Identify accounts by category...Ch. 2 - Exercise 2.9 LQ 2 , 3 Understanding financial...Ch. 2 - Exercise 2.10 LO 2 , 3 Understanding financial...
Ch. 2 - Prob. 2.11ECh. 2 - Exercise 2.12 LQ 2. 3 Calculate retained earnings...Ch. 2 - Prob. 2.13ECh. 2 - Prob. 2.14ECh. 2 - Prob. 2.15PCh. 2 - Prob. 2.16PCh. 2 - Problem 2.17 LO 2, 3, 4 Understanding and...Ch. 2 - Problem 2.18 LO 2. 3, 4 Understanding and...Ch. 2 - Problem 2.19 LO 2, 3, 4 Prepare an income...Ch. 2 - Prob. 2.20PCh. 2 - Problem 2.21
LO 2, 3
Transaction...Ch. 2 - Prob. 2.22PCh. 2 - Problem 2.23 LO 2, 3, 5 Complete the balance sheet...Ch. 2 - Prob. 2.24PCh. 2 - Prob. 2.25PCh. 2 - Prob. 2.26PCh. 2 - Case 2.27 LO 2, 4, 6, 7 Prepare a personal balance...
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