In: Finance
Category | Prior Year | Current Year |
Accounts payable | 3,149.00 | 5,946.00 |
Accounts receivable | 6,942.00 | 9,024.00 |
Accruals | 5,601.00 | 6,110.00 |
Additional paid in capital | 19,652.00 | 13,542.00 |
Cash | ??? | ??? |
Common Stock | 2,850 | 2,850 |
COGS | 22,228.00 | 18,549.00 |
Current portion long-term debt | 500 | 500 |
Depreciation expense | 1,046.00 | 1,034.00 |
Interest expense | 1,250.00 | 1,123.00 |
Inventories | 3,041.00 | 6,652.00 |
Long-term debt | 16,932.00 | 22,131.00 |
Net fixed assets | 75,070.00 | 74,175.00 |
Notes payable | 4,005.00 | 6,527.00 |
Operating expenses (excl. depr.) | 19,950 | 20,000 |
Retained earnings | 35,100.00 | 34,889.00 |
Sales | 46,360 | 45,050.00 |
Taxes | 350 | 920 |
What is the firm's net income in the current year?
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Answer format: Number: Round to: 0 decimal places.
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#2
Category | Prior Year | Current Year |
Accounts payable | 3,149.00 | 5,946.00 |
Accounts receivable | 6,942.00 | 9,024.00 |
Accruals | 5,601.00 | 6,110.00 |
Additional paid in capital | 19,652.00 | 13,542.00 |
Cash | ??? | ??? |
Common Stock | 2,850 | 2,850 |
COGS | 22,228.00 | 18,549.00 |
Current portion long-term debt | 500 | 500 |
Depreciation expense | 1,046.00 | 1,034.00 |
Interest expense | 1,250.00 | 1,123.00 |
Inventories | 3,041.00 | 6,652.00 |
Long-term debt | 16,932.00 | 22,131.00 |
Net fixed assets | 75,070.00 | 74,175.00 |
Notes payable | 4,005.00 | 6,527.00 |
Operating expenses (excl. depr.) | 19,950 | 20,000 |
Retained earnings | 35,100.00 | 34,889.00 |
Sales | 46,360 | 45,050.00 |
Taxes | 350 | 920 |
What is the firm's dividend payment in the current year?
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Answer format: Number: Round to: 0 decimal places.
1] | INCOME STATEMENT | ||
Sales | $ 45,050 | ||
Less: Expenses: | |||
COGS | $ 18,549 | ||
Depreciation expense | $ 1,034 | ||
Operating expenses | $ 20,000 | ||
Interest expense | $ 1,123 | ||
Taxes | $ 920 | $ 41,626 | |
Net income | $ 3,424 | ||
ANSWER: | |||
Net income for the year = | $ 3,424 | ||
2] | Dividend payment in current year = Beginning retained earnings+Net income for the year-Ending retained earnings = 35100+3424-34889 = | $ 3,635 |