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Fizer, Inc., reported the following financial statements for the last two years. FIZER, INC. 2020 Income...
| Fizer, Inc., reported the following financial statements for the last two years. |
| FIZER, INC. | ||
| 2020 Income Statement | ||
| Sales | $ | 565,330 |
| Cost of goods sold | 273,960 | |
| Selling & administrative | 124,720 | |
| Depreciation | 54,563 | |
| EBIT | $ | 112,087 |
| Interest | 19,309 | |
| EBT | $ | 92,778 |
| Taxes | 48,245 | |
| Net income | $ | 44,533 |
| Dividends | $ | 10,900 |
| Addition to retained earnings | $ | 33,633 |
| FIZER, INC. Balance Sheet as of December 31, 2019 |
|||||
| Cash | $ | 13,450 | Accounts payable | $ | 23,986 |
| Accounts receivable | 18,981 | ||||
| Inventory | 13,807 | ||||
| Current assets | $ | 46,238 | Long-term debt | 135,500 | |
| Net fixed assets | 344,439 | Owners' equity | 231,191 | ||
| Total assets | $ | 390,677 | Total liabilities and owners' equity | $ | 390,677 |
| FIZER, INC. Balance Sheet as of December 31, 2020 |
|||||
| Cash | $ | 14,436 | Accounts payable | $ | 27,004 |
| Accounts receivable | 21,086 | ||||
| Inventory | 22,767 | ||||
| Current assets | $ | 58,289 | Long-term debt | 153,300 | |
| Net fixed assets | 406,298 | Owners' equity | 284,283 | ||
| Total assets | $ | 464,587 | Total liabilities and owners' equity | $ | 464,587 |
| a. | Calculate the operating cash flow. (Do not round intermediate calculations.) |
| b. | Calculate the change in net working capital. (Do not round intermediate calculations.) |
| c. | Calculate the net capital spending. (Do not round intermediate calculations.) |
| d. | Calculate the cash flow from assets. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
| e. | Calculate the cash flow to creditors. (Do not round intermediate calculations.) |
| f. | Calculate the cash flow to stockholders. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
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jeff jeffy answered 2 years agoRelated Solutions
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2016 Income Statement
Sales
$
571,200
Costs of goods sold
273,965
Selling and administrative
124,721
Depreciation
54,564
EBIT
$
117,950
Interest
19,560
EBT
$
98,390
Taxes
39,356
Net income
$
59,034
Dividends
$
10,800
Addition to retained
earnings
$
48,234
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2015
Cash
$
13,440
Accounts
payable
$
9,492
Accounts receivable
18,982
Notes payable
14,496
Inventory
13,806
Current...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2016 Income Statement
Sales
$
567,700
Costs of goods sold
274,000
Selling and administrative
124,728
Depreciation
54,571
EBIT
$
114,401
Interest
19,406
EBT
$
94,995
Taxes
37,998
Net income
$
56,997
Dividends
$
10,100
Addition to retained earnings
$
46,897
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2015
Cash
$
13,370
Accounts payable
$
9,499
Accounts receivable
18,989
Notes payable
14,503
Inventory
13,799
Current...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2019 Income Statement...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2019 Income Statement
Sales
$
565,200
Costs of goods sold
274,025
Selling & administrative
124,733
Depreciation
54,576
EBIT
$
111,866
Interest
19,296
EBT
$
92,570
Taxes
48,137
Net income
$
44,433
Dividends
$
9,600
Addition to retained earnings
$
34,833
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2018
Cash
$
13,320
Accounts payable
$
9,504
Accounts receivable
18,994
Notes payable
14,508
Inventory
13,794
Current liabilities...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income Statement...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years. 2016 Income Statement Sales $
568,700 Costs of goods sold 273,990 Selling and administrative
124,726 Depreciation 54,569 EBIT $ 115,415 Interest 19,450 EBT $
95,965 Taxes 38,386 Net income $ 57,579 Dividends $ 10,300 Addition
to retained earnings $ 47,279 GRAFFITI ADVERTISING, INC. Balance
Sheet as of December 31, 2015 Cash $ 13,390 Accounts payable $
9,497 Accounts receivable 18,987 Notes payable 14,501 Inventory
13,801 Current liabilities...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2019 Income Statement...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2019 Income Statement
Sales
$
573,200
Costs of goods sold
273,945
Selling & administrative
124,717
Depreciation
54,560
EBIT
$
119,978
Interest
19,648
EBT
$
100,330
Taxes
40,132
Net income
$
60,198
Dividends
$
11,200
Addition to retained earnings
$
48,998
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2018
Cash
$
13,480
Accounts payable
$
9,488
Accounts receivable
18,978
Notes payable
14,492
Inventory
13,810
Current liabilities...
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2019 Income Statement...
Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
2019 Income Statement
Sales
$
573,200
Costs of goods sold
273,945
Selling & administrative
124,717
Depreciation
54,560
EBIT
$
119,978
Interest
19,648
EBT
$
100,330
Taxes
40,132
Net income
$
60,198
Dividends
$
11,200
Addition to retained earnings
$
48,998
GRAFFITI ADVERTISING, INC.
Balance Sheet as of December 31, 2018
Cash
$
13,480
Accounts payable
$
9,488
Accounts receivable
18,978
Notes payable
14,492
Inventory
13,810
Current liabilities...
LazyDaz, Inc. reported the following for its 2020 financial statements. Balance Sheet Dec 31, 2020 Dec...
LazyDaz, Inc. reported the following for its 2020 financial
statements.
Balance Sheet
Dec 31,
2020
Dec 31,
2019
Difference
Cash
526
315
211
Accounts Receivable
24
16
8
Allow for Doubtful Accounts
(2)
(1)
(1)
Inventory
21
32
(11)
PP&E
1,709
1,750
(41)
Land
809
660
149
Accumulated Depreciation
(314)
(300)
(14)
Patent
6
8
(2)
Total
Assets
2,779
2,480
Accounts Payable
37
19
18
Wages Payable
7
10
(3)
Unearned Revenue
12
11
1
Interest Payable
57
50
7...
Swifty reported the following pretax financial income (loss) for the years 2020–2022. 2020 $100,800 2021 (126,000)...
Swifty reported the following pretax financial income (loss)
for the years 2020–2022.
2020
$100,800
2021
(126,000)
2022
151,200
Pretax financial income (loss) and taxable income (loss) were the
same for all years involved. The enacted tax rate was 20% for
2020-2022.
(a)
Prepare the journal entries for the years 2020–2022 to record
income tax expense, income taxes payable, and the tax effects of
the loss carryforward, assuming that based on the weight of
available evidence, it is more likely than...
Meyer reported the following pretax financial income (loss) for the years 2020–2022. 2020 $120,000 2021 (150,000)...
Meyer reported the following pretax financial income (loss) for
the years 2020–2022. 2020 $120,000 2021 (150,000) 2022 180,000
Pretax financial income (loss) and taxable income (loss) were the
same for all years involved. The enacted tax rate was 20% for
2020–2022. Instructions a. Prepare the journal entries for the
years 2020–2022 to record income tax expense, income taxes payable,
and the tax effects of the loss carryforward, assuming that based
on the weight of available evidence, it is more likely...
Vaughn reported the following pretax financial income (loss) for the years 2020–2022. 2020 $129,600 2021 -162,000...
Vaughn reported the following pretax financial income (loss) for
the years 2020–2022.
2020
$129,600
2021
-162,000
2022
194,400
Pretax financial income (loss) and taxable income (loss) were
the same for all years involved. The enacted tax rate was 20% for
2020-2022.
repare the journal entries for the years 2020–2022 to record
income tax expense, income taxes payable, and the tax effects of
the loss carryforward, assuming that based on the weight of
available evidence, it is more likely than not...
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