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

Expert Solution


Related 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....
Required Prepare a vertical analysis of both the balance sheets and income statements for 2019 and...
Required Prepare a vertical analysis of both the balance sheets and income statements for 2019 and 2018. Prepare a vertical analysis of the balance sheets for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) JORDAN COMPANY Vertical Analysis of Balance Sheets 2019 2018 Amount Percentage of Total Amount Percentage of Total Assets Current assets Cash $16,500 % $14,000 % Marketable securities 21,200 6,600...
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...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT