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4 10 points eBook References Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year
4 10 points eBook References Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $660,000. Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity 2023 $ 21,000 78,000 103,000 $ 202,000 50,000 125,000 (55,000) $ 312,000 $ 18,000 64,800 20,000 $ 102,800 22,000 $ 124,800 $ 74,000 $ 81,500 51,700 (20,000) $ 113,200 $ 187,200 $ 312,000 2022 $ 20,000 72,000 99,000 $ 191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 140,500 $ 281,000 Presented here are the comparative balance sheets of Hames incorporated at December 31, 2023 and 2022. Sales for the year ended December 31,2023 , totaled $660.000. Required: a. Colculate ROI for 2023. Note: Do not round intermediate calculotions. Round your final answer to 2 decimal places. b. Calculate ROE for 2023 Note: Round your answer to 1 decimal place. c. Calculate working capital at December 31,2023. d. Calculate the current ratio at December 31,2023. Note: Round your answer to 2 decimal places. e. Calculate the acid-test ratio at December 31,2023. Note: Round your answer to 2 decimal places. f. Assume that on December 31,2023 , the treasurer of Hames decided to pay $15,000 of accounts payable. What impact, if any, this payment will have on the answers you calculated for parts a-d increase, decrease, or no effect. 9. Assume that instead of paying $15,000 of accounts payable on December 31, 2023. Hames collected $15,000 of accounts. receivable. What impact, if any, this receipt will have on the answers you calculated for parts a-d increase, decrease, or no effect)
4 10 points eBook References Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $660,000. Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity 2023 $ 21,000 78,000 103,000 $ 202,000 50,000 125,000 (55,000) $ 312,000 $ 18,000 64,800 20,000 $ 102,800 22,000 $ 124,800 $ 74,000 $ 81,500 51,700 (20,000) $ 113,200 $ 187,200 $ 312,000 2022 $ 20,000 72,000 99,000 $ 191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 140,500 $ 281,000
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