Dalton Sporting Goods adopted the dollar-value LIFO method for inventory valuation in 2016. Use the information below to determine the cumulative cost of the ending inventory at December 31, 2019 under dollar-value LIFO (in other words, what would be the inventory balance on Dalton’s Balance Sheet at 12.31.19). Inventory at Current Date Current Prices Price Index December 31, 2016 $150,000 100 December 31, 2017 $189,000 105 December 31, 2018 270,000 120 December 31, 2019 260,000 130

What is the cumulative ending inventory balance at 12.31.19? $______________________

1. Some experts estimated that national health spending in the United States grew at 1% in excess of the growth rates of GDP. Assume that this trend would persist for the foreseeable future, and given the fact that the share of GDP on health spending stood at 18% in 2016, what would become the share in 2064, 45 years from now (and 48 years from 2016, the base year), when most of you would enter the traditional retirement age? We should assume that GDP would grow at 3% annually. Do you have a problem with the number you arrive at?

Mercury Inc. purchased equipment in 2016 at a cost of $249,000. The equipment was expected to produce 510,000 units over the next five years and have a residual value of $45,000. The equipment was sold for $134,800 part way through 2018. Actual production in each year was: 2016 = 71,000 units; 2017 = 114,000 units; 2018 = 58,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.

Required:
1. Prepare the journal entry to record the sale.
2. Assuming that the equipment was sold for $163,800, prepare the journal entry to record the sale.

The POP Corporation had sales of $60 million in 2016. Costs other than depreciation and amortization were 60 percent of sales, and depreciation and amortization expenses were $19.6 million. It had $120 million debt with 5 % annual interest. All sales revenues were collected in cash, and costs other than depreciation and amortization must be paid for during the year. The corporate tax rate is 35 percent.

a. Set up an income statement for the above information.

b. Compute the net cash flow in 2016, and explain the meaning of the final number you found from the computation.

Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions):

Required:

Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

The following selected information is available for Old Navy, a unisex apparel company, for three fiscal years (in $ millions):

(a)

Calculate the current ratio, gross profit margin, and profit margin for each year. (Round answers to 1 decimal place, e.g. 1.5.)

How do you calculate the earnings per share for Target Corporation Fiscal year 2017 and 2016? some other information provided was undiluted for 2017 $5.35 and diluted for 2017 was $5.31? thanks

This is in regards to Ratio analysis; So I have to figure out the earnings per share for Target Corporation Fiscal Year 2017 and 2016. #52

please solve:

The following information pertaining White Corporation is available for the year ended 2015:

Pretax financial income, $500,000.

Unearned revenue, $60,000, was deferred on the books but recognized in taxable income of 2015 (future deductible).  $35,000 and $25,000 of this temporary difference (i.e., the unearned revenue) will be reversed in 2016 and 2017, respectively.

The tax rates of 2015, 2016 and 2017 are 30%, 25%, and 25%, respectively.

Instructions:

(a) Compute White's 2015 taxable income.

(b)  Prepare the journal entry to record income tax expense, deferred income tax asset, and income taxes payable of White for 2015.

​(Using EBIT-EPS​ break-even analysis) Home​ Depot, Inc.​ (HD), had 1244 million shares of common stock outstanding in​ 2016, whereas Lowes​ Companies, Inc.​ (LOW), had 929 million shares outstanding. Assuming Home​ Depot's 2016 interest expense is ​$919 ​million, Lowes' interest expense is ​$552 ​million, and a 35 percent tax rate for both​ firms, what is their​ break-even level of operating income​ (i.e., the level of EBIT where EPS is the same for both​ firms)?

The EBIT indifference level is ​$

nothing. ​(Round to the nearest​ dollar.)