6.

U.S. Republic Corporation Balance Sheet, December 31,20x3 Assets Liabilities and Stockholders' Equity Cash Accounts receivable Inventory*

Fixed assets, net Excess over book value of assets acquired

(intangible assets)

Total assets

$ 500,000 Notes payable 2,500,000 Accounts payable 3,500,000 Accrued wages and taxes 7300,000 Long-term debt Preferred stock 1,000,000 Common stock Retained earnings Total liabilities

$15,000,000 and equitv

'Inventory at December 31,ZUxZ = $1,500,000 U.S. Republic Corporation Statement of Income and Retained Earnings, Year Ended December 31,20x3 Net sales Credit Cash Total Costs and expenses Costs of goods sold Selliig, general, and administrative expenses Depreciation Interest on long-term debt Net income before taxes Taxes on income Net income after taxes Less: Dividends on preferred stock Net income available to common Add: Retained earnings 1/1/x3 Subtotal Less: Dividends paid on common Retained earnings at 12/31/x3 Chapter 12 Financial Ratio A n a l y s i s 377

a. Fill in the 20x3 column using the data presented.

U.S. Republic Corporation Ratio Industry 20x1 20x2 20x3 20x3

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