5-52
5-54
5-43
Selected balance sheet and income statement information follows for Gap Inc. and American Eagle Outfitters Inc. for the fiscal year ended January 30, 2016. Exercise 5-52 Computing and Analyzing Liquidity and Solvency Ratios LOS Gap Inc. American Eagle Outfitters Inc. $ $ 59 1,524 1,370 1 322 260 For Year Ended Jan. 30, 2016 (5 millions) Interest expense.. Income before interest and taxes Cash and cash equivalents Marketable securities Accounts receivable Current assets Current liabilities. Total assets. Total liabilities Total stockholders' equity 282 3,985 2,535 7.473 4,928 2,545 81 723 464 1,612 561 1,051 Chapter 5 Statement of Cash Flows and Financial Analysis 5.52 Cambridge Business Publishers Income Statement For Year Ended December 31, 2020 Sales revenue.. $320,000 Cost of goods sold 120,000 Depreciation expense 40,000 Amortization of patent. 9,000 Salaries and wages 11,000 Romaining expenses (all cash) 38,000 Net income. $102,000 ... + Required Restate the statement of cash flow in correct form using proper titles and subtotals. Use the indirect method to present cash flows from operating activities, and assume that cash at the beginning of the period was $28.00, Selected financial information for Laurel Corporation follows. Exercise 5-54 Solving for Financial Amounts and Ratios L04 $ millions Dec. 31, 2019 $5,100 425 3,500 1,600 Dec. 31, 2020 (a) (b) 3,800 1,800 25.88% 0.08 (C) (d) Sales...... Net income Total assets. Total stockholders' equity Return on equity. Profit margin Asset tumover Financial leverage --- HE Required Determine the missing amounts, a through d, using accounting knowledge. Exercise 5-55 Prepare the to report cash flows from operating activities. Kidman Corp. reported the following financial statements for the year ended December 31, 2020. 2020 Difference 2019 Exercise 5-43 Indirect Method Preparing a Statement of Cash Flows LO2 Hint: See Demo 5-2 Balance Sheet, December 31 Cash and cash equivalents Accounts receivable Merchandise inventory Land .. Equipment Accumulated depreciation Total assets. $ 24,000 19,000 31,000 20,000 48,000 (12,000) $130,000 $ 62,000 15,000 59,000 4,000 72,000 (24,000 $188,000 $38,000 (4,000) 28,000 (16,000) 24,000 (12,000) $58,000 $ 16,000 7,000 Accounts payable Notes payable, long-term Bonds payable Common stock (no-par) Retained earnings Total liabilities and stockholders' equity. $ 18,000 2,000 30,000 92,000 46,000 $188,000 $ 2,000 (5,000) 30,000 12,000 19,000 $58,000 80,000 27,000 $130,000 Income Statement For Year Ended December 31, 2020 Revenues.. $1520 Costs of goods sold 6201 Depreciation.. 12,400 Other expenses 14.000 Loss on sale of land 10,000 Net income $ 34,000 Required Prepare the statement of cash flows for Kidman Corp. for the year ended December 31, 2020, using the indirect method to present cash flows from operating activities. Selected balance sheet and income statement information follows for Gap Inc. and American Eagle Outfitters Inc. for the fiscal year ended January 30, 2016. Exercise 5-52 Computing and Analyzing Liquidity and Solvency Ratios LOS Gap Inc. American Eagle Outfitters Inc. $ $ 59 1,524 1,370 1 322 260 For Year Ended Jan. 30, 2016 (5 millions) Interest expense.. Income before interest and taxes Cash and cash equivalents Marketable securities Accounts receivable Current assets Current liabilities. Total assets. Total liabilities Total stockholders' equity 282 3,985 2,535 7.473 4,928 2,545 81 723 464 1,612 561 1,051 Chapter 5 Statement of Cash Flows and Financial Analysis 5.52 Cambridge Business Publishers Income Statement For Year Ended December 31, 2020 Sales revenue.. $320,000 Cost of goods sold 120,000 Depreciation expense 40,000 Amortization of patent. 9,000 Salaries and wages 11,000 Romaining expenses (all cash) 38,000 Net income. $102,000 ... + Required Restate the statement of cash flow in correct form using proper titles and subtotals. Use the indirect method to present cash flows from operating activities, and assume that cash at the beginning of the period was $28.00, Selected financial information for Laurel Corporation follows. Exercise 5-54 Solving for Financial Amounts and Ratios L04 $ millions Dec. 31, 2019 $5,100 425 3,500 1,600 Dec. 31, 2020 (a) (b) 3,800 1,800 25.88% 0.08 (C) (d) Sales...... Net income Total assets. Total stockholders' equity Return on equity. Profit margin Asset tumover Financial leverage --- HE Required Determine the missing amounts, a through d, using accounting knowledge. Exercise 5-55 Prepare the to report cash flows from operating activities. Kidman Corp. reported the following financial statements for the year ended December 31, 2020. 2020 Difference 2019 Exercise 5-43 Indirect Method Preparing a Statement of Cash Flows LO2 Hint: See Demo 5-2 Balance Sheet, December 31 Cash and cash equivalents Accounts receivable Merchandise inventory Land .. Equipment Accumulated depreciation Total assets. $ 24,000 19,000 31,000 20,000 48,000 (12,000) $130,000 $ 62,000 15,000 59,000 4,000 72,000 (24,000 $188,000 $38,000 (4,000) 28,000 (16,000) 24,000 (12,000) $58,000 $ 16,000 7,000 Accounts payable Notes payable, long-term Bonds payable Common stock (no-par) Retained earnings Total liabilities and stockholders' equity. $ 18,000 2,000 30,000 92,000 46,000 $188,000 $ 2,000 (5,000) 30,000 12,000 19,000 $58,000 80,000 27,000 $130,000 Income Statement For Year Ended December 31, 2020 Revenues.. $1520 Costs of goods sold 6201 Depreciation.. 12,400 Other expenses 14.000 Loss on sale of land 10,000 Net income $ 34,000 Required Prepare the statement of cash flows for Kidman Corp. for the year ended December 31, 2020, using the indirect method to present cash flows from operating activities
