Question

In: Accounting

Template for Fiscal Year Ended 1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 Net Revenue $20,453 $24,090 $22,090 $23,317...

Template for Fiscal Year Ended	1Q2017	2Q2017	3Q2017	4Q2017	1Q2018
Net Revenue	$20,453	$24,090	$22,090	$23,317	$24,538
Gross Margin
SGA%
Operating Income	$5,225	$6,177	$5,594	$22,326	$7,708
Net Income	$4,690	$5,200	$4,801	$21,204	$6,576
Debt Ratio	67%	69%	69%	70%	64%
Working Capital	$99,909	$74,162	$94,308	$95,324	$104, 216
Current Ratio	2.69	2.05	2.81	2.48	3.12
Quick Ratio	2.36	1.94	2.67	2.52	2.96
Inventory Turnover Ratio
ROE	4.73%	7.01%	5.09%	6.83%	6.01%
ROA	0.02	0.02	0.02	0.09	0.03
ROI

Please determine the following values for all quarters: 1) gross margin 2) SGA 3) inventory turnover ratio 4) ROI

Expert Solution

Able to solve only this part of table:

Current Assets – Current Liabilities = working capital

CA – CL = 99,909

CA = 99,909 + CL

Current Ratio = Current Assets/Current Liabilities

2.69 = 99,909 + CL / CL

2.69 CL - CL = 99,909

CL = 99,909 / 1.69 = $59,118

So, CA = 59,118 * 2.69 = 159,027

Now, you can find the value of Inventory from quick ratio

Quick Ratio = Quick Assets / Current Liabilities

2.36 = Quick Assets / 59118

Quick Assets = 139,518

Inventory = Current Assets – Quick Assets

	Q1	Q2	Q3	Q4	Q1
Current Liabilities	59118	70630	52104	62713	49158
Current Assets	159027	144792	146412	158037	153373
Quick Assets	139518	137022	139118	155528	145508

Inventory (CA - QA)	19509	7770	7294	2509	7865
Net Sales	20453	24090	22090	23317	24538

Ratio = Net Sales/Inventory	1.05	3.10	3.03	9.29	3.12

ekkarill92 answered 2 years ago

The XYZ Corporation had a net profit of $120,000 in the fiscal year just ended

The XYZ Corporation had a net profit of $120,000 in the fiscal year just ended. The capital stock consists of 8,000 shares of 8% convertible preferred stock with a par value of $50 per share and 20,000 shares of no-par common stock. If the board of directors declared a dividend of the entire earnings, what amount would be paid to preferred and common shareholders?

Galaxy Productions’ fiscal year ended 31 December 2019. Their net profit was $2,796, the firms’ equity...

Galaxy Productions’ fiscal year ended 31 December 2019. Their net profit was $2,796, the firms’ equity (new capital) was reduced from $50,000 to $32,796. The was also selling merchandises as part of their revenue. The firm bought a lighting machine for $8,000 in 2017, which has a lifespan of 4 years and its residual value was $500. The firm used the reducing balance method for depreciation. The firm has used Average Costing Method (AVCO) to obtain the closing stock which...

The Massoud Consulting Group reported net income of $1,354,000 for its fiscal year ended December 31, 2011.

The Massoud Consulting Group reported net income of $1,354,000 for its fiscal year ended December 31, 2011. In addition, during the year the company experienced a foreign currency translation adjustment gain of $240,000 and had unrealized losses on investment securities of $80,000. The company's effective tax rate on all items affecting comprehensive income is 30%. Each component of other comprehensive income is displayed net of tax. Required: Prepare a combined statement of income and comprehensive income for 2011, beginning with...

Vita Dental Agencies current fiscal year ended on December 31, 2018. For the year then ended,...

Vita Dental Agencies current fiscal year ended on December 31, 2018. For the year then ended, the company has reported an unadjusted net income of $100,000. The owner has some doubt about this figure and has asked you to review his accounting records. Required: Make adjusting entries as at December 31, 2018 for the following information uncovered in your review (show your calculations for full marks): a) Vita occupied their new building for the first time on May 1, 2018....

Income Statement Year Ended July 31, 2018 Net Sales Revenue $28,000 Cost of Goods Sold 10,800...

Income Statement Year Ended July 31, 2018 Net Sales Revenue $28,000 Cost of Goods Sold 10,800 Gross Profit 17,200 Operating Expenses: Selling Expenses $690 Administrative Expenses 1,550 Total Operating Expenses 2,240 Operating Income 14,960 Other Income and (Expenses): Interest Expense ? Total Other Income and (Expenses) ? Net Income before Income Tax Expense ? Income Tax Expense 2,810 Net Income $ ? The income statement for UtahUtah Communications follows. Assume UtahUtah Communications signed a 3-month, 9 %9%, $ 60 comma...

Prepare a retained earnings statement for the fiscal year ended June 30,20Y5

Rockwell Inc, reported the following results for the year ended June 30,20Y5ParticularsAmount$Retained earnings July 1,20Y43,900,000Net income7,14,000Cash dividends declared1,00,000Stock dividends declared50,000

Prepare a retained earnings statement for the fiscal year ended January 31,20Y2

Sumter pumps corporation, a manufacturer of industrial pumps,reports the following results for the year ended January 31,20Y2ParticularsAmount$Retained earnings,February 1,20Y159,650,000Net income8,160,000Cash dividends declared1,000,000Stock dividends declared2,600,000Prepare a retained earnings statement for the fiscal year ended January 31,20Y2

The following data are available for Sellco for the fiscal year ended on January 31,...

The following data are available for Sellco for the fiscal year ended on January 31, 2017: Sales 770 units Beginning inventory 240 units @ $ 3 Purchases, in chronological order 320 units @ $ 4 400 units @ $ 7 220 units @ $ 7 Required: a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.) Cost of...

Net revenues at an older manufacturing plant will be $2 million this year. The net revenue...

Net revenues at an older manufacturing plant will be $2 million this year. The net revenue will decrease by 15% per year for 5 years, when the assembly plant will be closed (at the end of year 6). If the firm's interest rate is 10%, calculate the PW of the revenue stream. Use excel functions and a table.

is net sales= net revenue? term sales and revenue are same? is Net sales and cost...

is net sales= net revenue? term sales and revenue are same? is Net sales and cost of goods sold same?