Question
In: Accounting
1. Prepare the income statements and balance sheets for 2008 and 2009 assuming a 34% tax...
1. Prepare the income statements and balance sheets for 2008 and 2009 assuming a 34% tax rate. Also, assume a payout ratio of 51% and a retention ratio of 49%
2. Prepare the statement of cash flows for 2009
2008 2009
Ticket sales 3617.00 4043.00
Promotional Advertising 2893.00 3234.00
Fees for television 723.00 808.00
Depreciation 1038.00 1085.00
Team and game expense 2487.00 2675.00
Selling and promotional expense 141.00 213.00
Deferred compensation current portion 732.00 717.00
interest expense 485.00 579.00
cash 3792.00 4014.00
accounts receivable 5021.00 5892.00
accounts payable 3984.00 4025.00
deferred compensation noncurrent portion 700.00 857.00
long-term debt 12000.00 14578.00
net-fixed assets 31805.00 33921.00
general and administrative expenses 450.00 569.00
inventory 8927.00 9555.00
Solutions
ekkarill92 answered 1 year agoRelated Solutions
(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...
Draw up an income statement and a balance sheet for NearPerfect for 2009 and 2010. The tax rate is 34%.
After-class Task #1
Financial Statements
Use the information for NearPerfect Co. to work the
problems.
2009
2010
Sales
$1,145
$1,200
Depreciation
128
128
Cost of goods sold
450
537
Other
expenses
110
98
Interest
85
96
Cash
640
735
Receivables
912
967
Notes
payable
122
103
Long-term
debt
2,349
2,666
Net fixed
assets
5,556
5,637
Accounts
payable
664
659
Dividends
100
110
Inventory
1,440
1,489
Draw up an income statement and a balance sheet for NearPerfect
for 2009 and 2010....
From the balance sheets below, of a firm for 2008 and 2009, calculate Debt-Equity Ratio and...
From the balance sheets below, of a firm for 2008 and 2009,
calculate Debt-Equity Ratio and Equity multiplier in 2009.
2008
2009
Total Asset
422,300
448,750
Equity
240,050
273,550
Group of answer choices
0.69 and 1.77
0.64 and 1.64
0.74 and 1.89
0.54 and 1.39
0.59 and 1.51
Which of the following is a difference between balance sheets and income statements? a. Balance sheets...
Which of the following is a difference between balance sheets
and income statements?
a. Balance sheets are also known as
profit and loss statements, whereas income statements are also
known as statements of financial position.
b. Balance sheets are used to track
a business's liquidity, efficiency, and profitability over time
compared to other businesses in its industry, whereas income
statements are quantitative plans through which managers decide how
to allocate available money to best accomplish company goals.
c. Balance sheets...
AMERICAN APPAREL: DROWNING IN DEBT?1 Prepare the company’s common-size balance sheets and common-size income statements for...
AMERICAN APPAREL: DROWNING IN DEBT?1
Prepare the company’s common-size balance sheets and common-size
income statements for the recent three years 2011-2013 (including
all subtotals and totals and round to 2 numbers after the decimal).
Analyze three major components based on the common-size balance
sheets and the trends of those components over the three years.
Analyze two major components based on the common-size income
statements and the trends of those components over the three years.
Use 10.00% as a threshold.
The comparative balance sheets and income statements for Gypsy Company follow. Balance Sheets As of December...
The comparative balance sheets and income statements for Gypsy
Company follow.
Balance Sheets
As of December 31
Year 2
Year 1
Assets
Cash
$
25,779
$
2,523
Accounts receivable
2,158
1,295
Inventory
6,559
6,149
Equipment
18,948
43,638
Accumulated depreciation—equipment
(7,717
)
(17,493
)
Land
19,647
9,607
Total assets
$
65,374
$
45,719
Liabilities and equity
Accounts payable (inventory)
$
2,552
$
4,122
Long-term debt
2,728
6,236
Common stock
24,100
10,000
Retained earnings
35,994
25,361
Total liabilities and equity
$
65,374...
The comparative balance sheets and income statements for Gypsy Company follow. Balance Sheets As of December...
The comparative balance sheets
and income statements for Gypsy Company follow.
Balance Sheets
As of December 31
2017
2016
Assets
Cash
$
23,243
$
2,651
Accounts receivable
2,237
1,342
Inventory
6,202
5,814
Equipment
22,837
44,607
Accumulated
depreciation—equipment
(9,806
)
(16,588
)
Land
14,214
8,184
Total assets
$
58,927
$
46,010
Liabilities and
equity
Accounts payable (inventory)
$
2,671
$
4,315
Long-term debt
2,695
6,160
Common stock
20,700
10,500
Retained earnings
32,861
25,035
Total liabilities
and equity
$
58,927
$
46,010...
The comparative balance sheets and income statements for Munoz Company follow: Balance Sheets As of December...
The comparative balance sheets and income statements for Munoz
Company follow:
Balance Sheets
As of December 31
Year 2
Year 1
Assets
Cash
$
22,554
$
2,987
Accounts receivable
1,813
1,088
Inventory
6,503
6,097
Equipment
19,699
43,369
Accumulated depreciation—equipment
(5,974
)
(15,475
)
Land
19,269
9,039
Total assets
$
63,864
$
47,105
Liabilities and equity
Accounts payable (inventory)
$
2,738
$
4,423
Long-term debt
2,860
6,538
Common stock
25,200
11,500
Retained earnings
33,066
24,644
Total liabilities and equity
$
63,864...
Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013...
Rosnan Industries' 2013 and 2012 balance sheets and income
statements are shown below.
Balance Sheets:
2013
2012
Cash and equivalents
$100
$85
Accounts receivable
275
300
Inventories
375
250
Total current assets
$750
$635
Net plant and equipment
2,300
1,490
Total assets
$3,050
$2,125
Accounts payable
$150
$85
Accruals
75
50
Notes payable
150
75
Total current
liabilities
$375
$210
Long-term debt
450
290
Common stock
1,225
1,225
Retained earnings
1,000
400
Total liabilities and equity
$3,050
$2,125
Income Statements:...
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