Major Manuscripts, Inc. 2012 Income Statement Net sales $ 8,600 Cost of goods sold 7,550 Depreciation...

Major Manuscripts, Inc. 2012 Income Statement Net sales $ 8,600 Cost of goods sold 7,550 Depreciation 310 Earnings before interest and taxes $ 740 Interest paid 40 Taxable Income $ 700 Taxes 280 Net income $ 420 Dividends $ 194 Major Manuscripts, Inc. 2012 Balance Sheet 2012 2012 Cash $ 2,420 Accounts payable $ 2,320 Accounts rec. 960 Long-term debt 280 Inventory 2,800 Common stock $ 2,400 Total $ 6,180 Retained earnings 4,580 Net fixed assets 3,400 Total assets $ 9,580 Total liabilities & equity $ 9,580 Major Manuscripts, Inc., is currently operating at 70 percent of capacity. All costs and net working capital vary directly with sales. The tax rate, the profit margin, and the dividend payout ratio will remain constant. How much additional debt is required if no new equity is raised and sales are projected to increase by 10 percent? Multiple Choice $137 $369 $232 $618 $249

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OPQ, Inc. 2018 statement of comprehensive income Net sales $8,953 Cost of goods sold $5,865 Depreciation...

OPQ, Inc. 2018 statement of comprehensive income Net sales $8,953 Cost of goods sold $5,865 Depreciation $? EBIT $? Interest paid $675 Earnings before taxes $675 Taxes $400 Net income $705 Dividends paid $? Addition to retained earnings $450 OPQ, Inc. Statement of financial positions as of December 31, 2017 and 2018 2017 2018 2017 2018 Cash $725 $1,135 Accounts payable $859 $1,031 Accounts rec. $2,330 $? Notes payable $? $4,020 Inventory $3,240 $5, 202 Current liabilities $? $? Current...

Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,170 Cost of goods sold...

Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,170 Cost of goods sold 4,590 Depreciation 395 Earnings before interest and taxes $ 1,185 Interest paid 44 Taxable income $ 1,141 Taxes 399 Net income $ 742 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 145 $ 250 Accounts payable $ 1,710 $ 1,770 Accounts rec. 1,130 970 Long-term debt 880 680 Inventory 1,805 2,130 Common stock 3,380 3,350...

Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,700 Cost of goods sold...

Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,700 Cost of goods sold 7,340 Depreciation 405 Earnings before interest and taxes $ 955 Interest paid 82 Taxable income $ 873 Taxes 306 Net income $ 567 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 150 $ 185 Accounts payable $ 1,180 $ 1,260 Accounts rec. 920 730 Long-term debt 1,000 1,265 Inventory 1,520 1,550 Common stock 3,210 2,900...

Bayside Inc. 2005 Income Statement ($ in thousands) Net sales $5,680 Less: Cost of goods sold...

Bayside Inc. 2005 Income Statement ($ in thousands) Net sales $5,680 Less: Cost of goods sold 4,060 Less: Depreciation 420 Earnings before interest and taxes 1,200 Less: Interest paid 30 Taxable Income $1,170 Less: Taxes 410 Net income $ 760 Bayside, Inc. 2004 and 2005 Balance Sheets ($ in thousands) 2004 2005 2004 2005 Cash $ 70 $ 180 Accounts payable $1,350 $1,170 Accounts rec. 980 840 Long-term debt 720 500 Inventory 1,560 1,990 Common stock 3,200 3,500 Total $2,610...

Income Statement Accounts 2014 2013 Net Sales $ 1,720,000 $ 1,450,000 Cost of Goods Sold 1,204,000...

Income Statement Accounts 2014 2013 Net Sales $ 1,720,000 $ 1,450,000 Cost of Goods Sold 1,204,000 1,015,000 Selling and Admin. Expense 220,000 185,385 Non operating revenue 9,192 8,860 Interest Expense 14,620 12,100 Earnings Before Income Tax 290,572 246,375 Provision for Income Taxes 116,473 113,616 Net Income $ 174,099 $ 132,759 Balance Sheet Accounts Current Liabilities $ 190,400 $ 189,000 Long-term debts 120,000 112,000 Preferred Stocks (10%) 100,000 100,000 Common Stocks 850,000 850,000 Retained Earnings 348,198 265,518 Other Information Total Assets...

income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000...

income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000 interest expense -2,400 loss on equipment disposal -2,500 net income 63,100 Statement of Retained Earnings Beginning Balance - Retained Earnings 6,000 Plus - Net Income 63,100 Less - Dividends (41,500) Ending Balance - Retained Earnings 27,600 Balance sheets 2018 2019 change Assets: Cash 13,000 64,600 51,600 Accounts Receivable 25,000 19,000 (6,000) Inventory 19,000 13,000 (6,000) prepaid expenses 0 0 0 Equipment 60,000 41,000 (19,000)...

Kramerica Industries (KI) 2015 Income Statement Sales $422,045 Cost of goods sold 291,090 Depreciation 37,053 Earnings...

Kramerica Industries (KI) 2015 Income Statement Sales $422,045 Cost of goods sold 291,090 Depreciation 37,053 Earnings before interest and taxes $93,902 Interest expense 16,400 Earnings before taxes $77,502 Taxes 27,126 Net income $50,376 Dividends Additions to retained earnings Kramerica Industries (KI) 2014 and 2015 Balance Sheets 2014 2015 2014 2015 Cash $26,450 $29,106 Accounts payable $61,722 $69,426 Accounts receivable 13,693 18,282 Long-term debt 95,000 110,000 Inventory 27,931 32,586 Common stock 45,000 45,000 Net fixed assets 357,165 398,345 Retained earnings...

A firm has net sales of $5,500,000, Cost of Goods Sold $3,500,000, Depreciation Expense of $300,000,...

A firm has net sales of $5,500,000, Cost of Goods Sold $3,500,000, Depreciation Expense of $300,000, Selling and Administrative Expenses of $500,000, Interest Expense of $200,000, and an average tax rate of 20%. 25. The firm's Net Income is: a. 210,000 b. 400,000 c.  700,000 d  800,000 26. The firm's Operating Margin is: a. 14.0% b. 21.8% c. 33.3%  d.  67.1% 27. firm's Gross Profit Margin is: a. 21.5% b. 30.0% c.  36.4% d  50.0% 28. firm's Pre-taxable Income is:...

Nabors Inc. 2009 Income Statement ($ in millions) Bet Sales $9,610 Less: Cost of Goods Sold...

Nabors Inc. 2009 Income Statement ($ in millions) Bet Sales $9,610 Less: Cost of Goods Sold 6,310 Less Depreciation 1,370 Earnings before interest and taxes 1,930 Less: Interest paid 630 Taxable income $1,300 Less taxes 455 Net Income $ 845 Nabors Inc. 2008 and 2009 Balance sheets ($ in millions) 2008 2009 2008 2009 Cash $310 $405 Accounts Pay $2720 $2570 Accounts Rec. 2640 3055 Notes Pay 100 0 Inventory 3275 3850 Total $2820 $2570 Total $6225 $7310 Long Term...

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...

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