Accounting 122. Com Prob. Solve percentage, etc.

WileyPLUS + X + -> C D edugen.wileyplus.com/edugen/Iti/main.uni GA : Apps New Tab D Appen Login Q S Search results for.. Movies123 | Watch... ) Disney+ | Movies a... at Coronavirus in the... W United States Coro.. Support | The Elder.. DP Coronavirus in Colo... We Coronavirus Updat.. a, Amazon.com: Onlin.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1BACK NEXT ASSIGNMENT RESOURCES Calculate the following ratios for 2020 and indicate whether the ratio is a liquidity, solvency, or profitability ratio. (Round Asset turnover ratio, Accounts receivable turnover ratio, Current ratio and Earnings per share to 2 decimal places, e.g. 15.25. Round ACC122 M3 COMP PROBLEM Average collection period, Debt to assets ratio, Profit margin, Return on assets ratio, Return on common stockholders' equity ratio and Times interest earned ratio to 1 decimal place, e.g. 15.2 or 15.2%. Use 365 days for calculation.) Question 1 Type Question 2 (1) Asset turnover ratio times Review Score Review Results by Study (2) Accounts receivable turnover ratio times Objective (3) Average collection period days (4) Current ratio : 1 (5) Debt to assets ratio (6) Earnings per share (7) Profit margin (8) Return on assets ratio % (9) Return on common stockholders' equity ratio % (10) Times interest earned ratio times (d) Comment on your findings. Liquidity The company's liquidity is Solvency : The company's solvency is very Profitability : The company's profitability is Overall By all measures the company appears to be both financially Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER Type here to search 8:39 PM 11/9/2020WileyPLUS + X + -> C D edugen.wileyplus.com/edugen/Iti/main.uni GA : Apps New Tab Appen Login S Search results for.. Movies123 | Watch... ) Disney+ | Movies a... alt Coronavirus in the... W United States Coro.. O Support | The Elder.. DP Coronavirus in Colo.. We Coronavirus Updat. a, Amazon.com: Onlin.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES ACC122 M3 COMP Question 2 PROBLEM Question 1 The comparative balance sheets of Waterways Corporation's Irrigation Installation Division for the years 2019 and 2020 and the income statements for the year 2019 and 2020 are presented below. Question 2 Additional information: Review Score 85% of the sales for Waterways were credit sales. There are 5,000 shares outstanding for both years. This is a private corporation whose shares are not available to the public. Review Results by Study. Objective WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets December 31 Assets 2020 2019 Current assets Cash $829,900 $744,200 Accounts receivable 676,300 545,800 Work in process 701,400 inventory 16,700 7,600 Prepaid expenses 75,800 42,20 Total current assets 2,300,100 1,339,800 Property, plant, and equipment Land 298,000 298,000 Buildings 450,000 450,000 Equipment 27,200 797,100 Furnishings 10,700 40,700 Accumulated depreciation (481,500) (481,100) Total property, plant, and equipment 1,234,400 1,104,700 Total assets $3,534,500 $2,444,500 Liabilities and Stockholders' Equity Current liabilities Accounts payable $156,400 $128,500 Income taxes payable 101,500 79,600 Wages payable 4,400 2,000 Interest payable 1,200 Other current liabilities 14,500 15,400 Revolving bank loan payable 4,800 Total current liabilities 292,800 225,500 Long-term liabilities Note payable 142,000 Total liabilities 434,800 225,500 Stockholders' equity Common stock 1,250,000 1,250,000 Retained earnings 1,849,700 969,000 Total stockholders' equity 3,099,700 2,219,000 Type here to search 9 or 8:37 PM 1 11/9/2020WileyPLUS + X + -> C D edugen.wileyplus.com/edugen/Iti/main.uni GA : Apps New Tab Appen Login S Search results for.. Movies123 | Watch... Disney+ | Movies a.. at Coronavirus in the... W United States Coro. O Support | The Elder.. DP Coronavirus in Colo... We Coronavirus Updat.. a, Amazon.com: Onlin.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES ACC122 M3 COMP Total liabilities and stockholders' equity $3,534,500 $2,444,500 PROBLEM Question 1 WATERWAYS CORPORATION-INSTALLATION DIVISION Question 2 Income Statements For the Year Ending December 3 Review Score 2020 2019 Review Results by Study. Sales Objective $5,517,843 $4,969,800 Less: Cost of goods sold 3,139,000 2,801,500 Gross profit 2,378,843 2,168,300 Operating expenses Advertising 49,600 $7,600 Insurance 400,100 400,100 Salaries and wages 581,200 651,200 Depreciation 74,700 65,700 Other operating expenses 21,300 18,478 Total operating expenses ,126,900 ,083,078 Income from operations 1,251,943 1,085,222 Other income Gain on sale of equipment 18,200 Other expenses Interest expense (12,000 Income before income tax 1,258,143 1,085,222 Income tax expense 377,443 325,567 Net income $880,700 $759,655 (a) Prepare a horizontal analysis of the income statement using 2019 as the base year. (Do not leave any answer field blank. Enter 0 for amounts. Round percentage values to 1 decimal place, e.g. 52.7%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement For the Month Ended December 31 v 2020 2019 Change Percent Sales $5,517,843 $4,969,800 Less: Cost of goods sold 3,139,000 2,801,500 Gross profit 2,378,843 2,168,300 Operating expenses Advertising 49,600 47,600 % Type here to search O 8:38 PM 1 11/9/2020WileyPLUS + X + -> C D edugen.wileyplus.com/edugen/Iti/main.uni GA : Apps New Tab Appen Login Q S Search results for.. Movies123 | Watch... ) Disney+ | Movies a... k Coronavirus in the... W United States Coro.. O Support | The Elder... DP Coronavirus in Colo... We Coronavirus Updat.. a, Amazon.com: Onlin.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES Advertising 49,600 47,600 % ACC122 M3 COMP PROBLEM Insurance 400,100 400,100 % Question 1 Question 2 Salaries and wages 581,200 $51,200 % Review Score Depreciation 74,700 65,700 % Review Results by Study Objective Other operating expenses 21,300 18,478 % Total operating expenses 1,126,900 1,083,078 Income from operations 1,251,943 1,085,222 % Other income Gain on sale of equipment 18,200 % Other expenses Interest expense (12,000) % Income before income tax 1,258,143 1,085,222 Income tax expense 377,443 325,567 % Net income $880,700 $759,655 (b) Prepare a vertical analysis of the income statement for 2020. (Round percentage values to 1 decimal place, e.g. 52.7%. Enter negative amounts using either a negative sign preceding the number e.g. -45% or parentheses e.g. (45)%) WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement Amount Percent Sales $5,517,843 Less: Cost of goods sold 3,139,000 % Gross profit 2,378,843 % Operating expenses Advertising 49,600 % Insurance 400,100 8:38 PM Type here to search 1 11/9/2020WileyPLUS + X + -> C D edugen.wileyplus.com/edugen/Iti/main.uni GA : Apps New Tab Appen Login S Search results for.. Movies123 | Watch... Disney+ | Movies a... at Coronavirus in the... W United States Coro. O Support | The Elder.. DP Coronavirus in Colo... We Coronavirus Updat.. a, Amazon.com: Onlin.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES Advertising 19,600 ACC122 M3 COMP PROBLEM Question 1 Insurance 400,100 1% Question 2 Salaries and wages 581,200 Review Score Review Results by Study Depreciation 74,700 Objective Other operating expenses 21,300 Total operating expenses 1,126,900 1% Income from operations 1,251,943 % Other income Gain on sale of equipment 18,200 Other expenses Interest expense (12,000) % Income before income tax 1,258,143 % Income tax expense 377,443 % Net income $880,700 (c) Calculate the following ratios for 2020 and indicate whether the ratio is a liquidity, solvency, or profitability ratio. (Round Asset turnover ratio, Accounts receivable turnover ratio, Current ratio and Earnings per share to 2 decimal places, e.g. 15.25. Round Average collection period, Debt to assets ratio, Profit margin, Return on assets ratio, Return on common stockholders' equity ratio and Times interest earned ratio to 1 decimal place, e.g. 15.2 or 15.2%. Use 365 days for calculation.) Type (1) Asset turnover ratio times (2) Accounts receivable turnover ratio time (3) Average collection period days (4) Current ratio : 1 (5) Debt to assets ratio (6) Earnings per share (7) Profit margin % Type here to search 8:39 PM 1 11/9/2020