Question

In: Finance

SNIDER CORPORATION Balance Sheet December 31, 20X1 Assets Current assets: Cash $ 57,100 Marketable securities 26,100...

SNIDER CORPORATION Balance Sheet December 31, 20X1 Assets Current assets: Cash $ 57,100 Marketable securities 26,100 Accounts receivable (net) 184,000 Inventory 242,000 Total current assets $ 509,200 Investments 64,500 Plant and equipment $689,000 Less: Accumulated depreciation 256,000 Net plant and equipment 433,000 Total assets $ 1,006,700 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 92,700 Notes payable 76,500 Accrued taxes 17,000 Total current liabilities $ 186,200 Long-term liabilities: Bonds payable 151,000 Total liabilities $ 337,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 299,500 Total stockholders' equity $ 669,500 Total liabilities and stockholders' equity $ 1,006,700 SNIDER CORPORATION Income Statement For the Year Ending December 31, 20X1 Sales (on credit) $ 2,076,000 Cost of goods sold 1,326,000 Gross profit $ 750,000 Selling and administrative expenses 490,000 * Operating profit (EBIT) $ 260,000 Interest expense 31,800 Earnings before taxes (EBT) $ 228,200 Taxes 84,400 Earnings after taxes (EAT) $ 143,800 *Includes $36,400 in lease payments. Using the above financial statements for the Snider Corporation, calculate the following ratios. a. Profitability ratios. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.) b. Assets utilization ratios. (Do not round intermediate calculations. Round your answers to 2 decimal places.) c. Liquidity ratios. (Do not round intermediate calculations. Round your answers to 2 decimal places.) d. Debt utilization ratios. (Do not round intermediate calculations. Input your debt to total assets answer as a percent rounded to 2 decimal places. Round your other answers to 2 decimal places.)

Solutions

Expert Solution

jeff jeffy answered 2 months ago
Next > < Previous

Related Solutions

For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets Liabilities Cash $ 17,000 Accounts payable $ 19,000 Accounts receivable 22,000 Notes payable 27,000 Inventory 32,000 Bonds payable 57,000 Prepaid expenses 12,700 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 257,000 Preferred stock $ 27,000 Less: Accumulated depreciation 51,400 Common stock 62,000 Paid in Capital 32,000 Net plant and equipment $ 205,600 Retained earnings 65,300 Total assets $ 289,300 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets Liabilities Cash $ 30,000 Accounts payable $ 32,000 Accounts receivable 35,000 Notes payable 40,000 Inventory 45,000 Bonds payable 70,000 Prepaid expenses 14,000 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 270,000 Preferred stock $ 40,000 Less: Accumulated depreciation 54,000 Common stock 75,000 Paid in Capital 45,000 Net plant and equipment $ 216,000 Retained earnings 38,000 Total assets $ 340,000 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets Liabilities Cash $ 13,000 Accounts payable $ 15,000 Accounts receivable 18,000 Notes payable 23,000 Inventory 28,000 Bonds payable 53,000 Prepaid expenses 12,300 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 253,000 Preferred stock $ 23,000 Less: Accumulated depreciation 50,600 Common stock 58,000 Paid in Capital 28,000 Net plant and equipment $ 202,400 Retained earnings 73,700 Total assets $ 273,700 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:    Current Assets Liabilities Cash $ 30,000 Accounts payable $ 32,000 Accounts receivable 35,000 Notes payable 40,000 Inventory 45,000 Bonds payable 70,000 Prepaid expenses 14,000 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 270,000 Preferred stock $ 40,000 Less: Accumulated depreciation 54,000 Common stock 75,000 Paid in Capital 45,000 Net plant and equipment $ 216,000 Retained earnings 38,000 Total assets $ 340,000 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 15,000 Accounts payable $ 17,000 Accounts receivable 20,000 Notes payable 25,000 Inventory 30,000 Bonds payable 55,000 Prepaid expenses 12,500 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 255,000 Preferred stock $ 25,000 Less: Accumulated depreciation 51,000 Common stock 60,000 Paid in Capital 30,000 Net plant and equipment $ 204,000 Retained earnings 69,500 Total assets $ 281,500 Total liabilities and stockholders’ equity...
ABC CORP BALANCE SHEET December 31, 2010 Cash $ 100 Marketable Securities 0 Accounts Receivables 2,000...
ABC CORP BALANCE SHEET December 31, 2010 Cash $ 100 Marketable Securities 0 Accounts Receivables 2,000 Inventory 140 Fixed Assets ( net ) 2,000 Total Assets ===== Accounts Payable $ 2,380 Notes Payable 0 Retained earnings ? Common Stock 1,400 Total of Both Liabilities & Equity ===== For the year ended 12/31/10 ABC CORP generated Sales of $12,000 and Net Income of $120. The net profit margin this year is considered normal by ABC CORP. Cost of Goods Sold was...
BALANCE SHEET December 31, 20X8 and 20X7 (in thousands) 20X8 20X7 Assets Current assets Cash and...
BALANCE SHEET December 31, 20X8 and 20X7 (in thousands) 20X8 20X7 Assets Current assets Cash and cash equivalents $3,019 $1,050     Trade receivables 485 450     Prepaid advertising expenses 59 609     Prepaid expenses and other current assets 175 230 Total current assets 3,738 2,339 Fixed assets, net 3,321 3,926 Total assets $7,059 $6,265 Liabilities and shareholders' equity Current liabilities     Accounts payable $1,070 $ 909     Current maturities of notes payable 42 316     Deferred revenue 1,973 1,396     Other current liabilities 171 12 Total current...
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable and inventories. The December 31, 2018, balance sheet revealed the following: 
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2018, balance sheet revealed the following: Inventories $ 990,000 Total assets $ 3,500,000 Current ratio 2.10 Acid-test ratio 1.20 Debt to equity ratio 1.8 Required: Determine the following 2018 balance sheet items: current assets and long term assets
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory $ 910,000 Total assets $ 3,000,000 Current ratio 2.60 Acid-test ratio 1.30 Debt to equity ratio 1.5 Required: Determine the following 2021 balance sheet items: current assets: shareholders' equity: long-term assets: long-term liabilities: please show work for better understanding
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT