Question

In: Accounting

Using the 2017 and 2018 financial statements for Apple and Bank of America, prepare two financial...

Using the 2017 and 2018 financial statements for Apple and Bank of America, prepare two financial ratios for each of the following categories: liquidity ratios, asset management ratios, and profitability ratios.

Solutions

Expert Solution


Related Solutions

Complete the Bank Reconciliation (15pts) Prepare a bank reconciliation as of December 31, 2017 using the...
Complete the Bank Reconciliation (15pts) Prepare a bank reconciliation as of December 31, 2017 using the following format. I am not going to be particular about how you show your numbers as long as you have them in the right spot and can get to the correct adjusted balances. Bank Balance: Cash Balance: Add: Add: Deduct: Deduct: Adjusted Balance: Adjusted Balance: Journalize the necessary entries. After completing the bank reconciliation show any necessary journal entries. Pretend you have a general...
Considering all your findings using the different methods of analysis ( 2017 through 2018 financial statements,...
Considering all your findings using the different methods of analysis ( 2017 through 2018 financial statements, annual reports, horizontal and vertical analysis ) on the financial statements for Target and Amazon, which company would you more likely invest in? Your response to this question should be 3 paragraphs: One paragraph summarizing key points of analysis on Target One paragraph summarizing key points of analysis on Amazon One paragraph using these results to support and rationalize your investment decision Edit: Target...
Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017...
Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017 Accounts receivable $ 40,000 $ 36,000 Merchandise inventory    28,000 35,000 Net sales 190,000 186,000 Cost of goods sold 114,000 108,000 Total assets 425,000 405,000 Total shareholders' equity 240,000 225,000 Net income 32,500 28,000 1. Hulkster's 2018 average collection period is____________________ 2. Hulkster's 2018 average days in inventory is (rounded)______________________ 3. Hulkster's 2018 return on assets is (rounded):___________________________ 4. What does the average collection...
Review Apple Inc.'s financial statements in 2018 10K form and write two paragraphs about Apple's horizontal...
Review Apple Inc.'s financial statements in 2018 10K form and write two paragraphs about Apple's horizontal financial analysis.
The condensed financial statements of Underwood Company for the years 2017 and 2018 are presented as...
The condensed financial statements of Underwood Company for the years 2017 and 2018 are presented as follows. (Amounts in thousands.) UNDERWOOD COMPANY Balance Sheets December 31 2018 2017 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 470 400 Inventory 460 390 Prepaid expenses 120 160 Total current assets 1,380 1,310 Investments 10 10 Property, plant, and equipment 420 380 Intangibles and other assets 530 510 Total assets $2,340 $2,210 Current liabilities $900 $790 Long-term liabilities 410 380...
(1) Prepare the income statements and balance sheets for years 2017 and 2018 for Smith Company...
(1) Prepare the income statements and balance sheets for years 2017 and 2018 for Smith Company using the following information. The balance sheet numbers are at the end of year figures. Item 2017 2018 Accounts Payable 150.0 180.0 Accounts Receivable 150.0 180.0 Accumulated Depreciation 270.0 300.0 Cash & Cash Equivalents 10.0 12.0 Common Stock 50.0 50.0 Cost of Goods Sold 550.0 650.0 Depreciation 25.0 30.0 Interest Expense 20.2 21.7 Inventory 200.0 180.0 Long-term Debt 150.0 150.0 Gross Plant & Equipment...
(1) Prepare the income statements and balance sheets for years 2017 and 2018 for Smith Company...
(1) Prepare the income statements and balance sheets for years 2017 and 2018 for Smith Company using the following information. The balance sheet numbers are at the end of year figures. Item 2017 2018 Accounts Payable 150.0 180.0 Accounts Receivable 150.0 180.0 Accumulated Depreciation 270.0 300.0 Cash & Cash Equivalents 10.0 12.0 Common Stock 50.0 50.0 Cost of Goods Sold 550.0 650.0 Depreciation 25.0 30.0 Interest Expense 20.2 21.7 Inventory 200.0 180.0 Long-term Debt 150.0 150.0 Gross Plant & Equipment...
The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018,...
The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018, and its statement of earnings for the year ended December 31, 2018, are presented below: MIKOS INC. Comparative Statements of Financial Position December 31 2018 2017   Assets   Cash $ 10,700 $ 18,700   Short-term investments 73,900 42,100   Accounts receivable 76,500 32,800   Inventories, at cost 57,400 41,700   Prepaid expenses 5,700 9,400   Land 51,800 78,500   Property, plant, and equipment, net 286,800 187,500   Intangible assets 25,700 31,400 $...
The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018,...
The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018, and its statement of earnings for the year ended December 31, 2018, are presented below: MIKOS INC. Comparative Statements of Financial Position December 31 2018 2017 Assets Cash $ 10,500 $ 18,500 Short-term investments 70,500 39,500 Accounts receivable 75,500 32,000 Inventories, at cost 57,000 41,500 Prepaid expenses 5,500 9,000 Land 51,000 77,500 Property, plant, and equipment, net 286,000 186,500 Intangible assets 25,500 31,000 $...
Suppose that the 2017 actual and 2018 projected financial statements for Cramner Corp. are initially as...
Suppose that the 2017 actual and 2018 projected financial statements for Cramner Corp. are initially as shown in the following tables. In these tables, sales are projected to rise 35 percent in the coming year, and the components of the income statement and balance sheet that are expected to increase at the same 35 percent rate as sales are indicated with an italics font. Assuming that Cramner Corp. wants to cover the AFN with 45 percent equity, 25 percent long-term...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT