George Carpenter is the sole stockholder and operator of XYZ, Inc. a consulting firm. At the end of its accounting period, December 31, 2015, XYZ, Inc. has assets of $400,000 and liabilities of $145,000. Using the accounting equation and considering each case independently, determine the following amounts:

a) Stockholder’s equity on 12/31/2015.

b) The amount and direction (increase or decrease) change in stockholder’s equity if, during 2016, assets increased by $45,000 and liabilities decreased by $10,000.

c) Net income (or net loss) during 2016, assuming that as of December 31, 2016, assets were $410,000, liabilities were $147,000, capital stock of $3,000 was issued, and dividends of $8,000 were paid.

In 2014 a survey was conducted and found that 297 out of 1100 individuals had confidence in public schools. In 2016 another survey was conducted which led to the result that 322 out of 1150 individuals had confidence in public schools. Let  be the proportion of individuals in 2014 who had confidence in public schools and let  be the proportion of individuals in 2016 who had confidence in public schools.

1.Compute

2.Compute

3.Set up a hypothesis to test in order to decide if the proportion of individuals who have confidence in public schools increased from 2014 to 2016.

4.What is the value of the statistic? Give answer rounded to two decimal places.

The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then ended for three firms.

Required:

Calculate the missing amounts for each firm.

Heiden Company reported the following net income before taxes and depreciation for the years indicated.

2016: $80,000 2017: $100,000 2018: $75,000

The Company purchased assets costing $90,000 on January 1, 2016. The assets have a three-year useful life and no salvage value. For tax purposes the Company used an acceptable accelerated depreciation method that resulted in depreciation expense of $45,000; $30,000; and$15,000 for the three years respectively. For financial reporting purposes the straight-linemethodwas used. A 30% tax rate was in effect for the three years.

Instructions: Prepare the necessary calculations and make the end of year entries for the Heiden Company for the years 2016, 2017, 2018.

Broussard Skateboard's sales are expected to increase by 25% from $9.0 million in 2016 to $11.25 million in 2017. Its assets totaled $4 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 65%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.

Broussard Skateboard's sales are expected to increase by 25% from $7.4 million in 2016 to $9.25 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 55%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.

Computing, Analyzing, and Interpreting Return on Equity and Return on AssetsFollowing are summary financial statement data for Nordstrom Inc. for fiscal years ended 2014 through 2016.$ millions 2016 2015 2014Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,095 $13,110 $12,166Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600 720 734Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,698 9,245 8,574Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 871 2,440 2,080Required

a. Compute return on assets and return on equity for fiscal years ended 2015 and 2016 (use average assets and average equity), together with the components of ROA (profit margin and asset turnover). What trends, if any, do we observe?

b. Which component, if any, appears to be driving the change in ROA over this time period?

Broussard Skateboard's sales are expected to increase by 25% from $7.8 million in 2016 to $9.75 million in 2017. Its assets totaled $2 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 75%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.

Broussard Skateboard's sales are expected to increase by 20% from $7.6 million in 2016 to $9.12 million in 2017. Its assets totaled $4 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 70%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.

]Information for 22 to 26. In 2016 Norcraft Sisters Construction agreed to construct a residence hall at University of Houston at a price of $1,200,000. The information relating to the costs and billings for this contract is shown below.

2016. 2017 2018

Cost incurred during the year 280,000 320,000 850,000

Estimated osts to complete. 520,000 300,000 0

Customer billing date 300,000 400,000 850,000

Collection of billing date 200,000 320,000 800,000

22. Assuming that the percentage-of-completion method is used, compute the amount of gross profit (loss) to be recognized on income statement in 2016 and 2017, respectively

A. $400,000 and 300,000

B. $140,000 and 60,000

C. $140,000 and 200,000

D. $0 and. $0