Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Andrews Corp. ended the year carrying $118,956,000 worth of inventory. Had they sold their entire inventory at their current prices, how many more dollars of

Andrews Corp. ended the year carrying $118,956,000 worth of inventory. Had they sold their entire inventory at their current prices, how many more dollars of contribution margin would it have brought to Andrews Corp.?

  • $66,289,000

  • $225,283,200

  • $181,680,000

  • $118,956,000

image text in transcribed
image text in transcribed
image text in transcribed
Balance Sheet 2022 2021 ASSETS Common Sir 0% 50 50 5% 39.829 53423 5115 956 71.3% Accounts Receivable Inventory Total Current Assets 5127379 76 3% 596224 ($57,319) 9006 378,915 396,124 (550.054) 545,60 5124.875 343% 237% 539.505 5166,864 100% 50% Plant & Equipment Accumulated Depreciation Total Fixed Assets Total assets LIABILITIES & OWNERS EQUITY Accounts Payable Current Debt Long Term Debt Total Liabilities Common Stock 25.7% 542 812 510,017 519,152 520 564 549.733 16.5% $27564 570.718 478% 200% 544653 5.42.502 25.5% $19.417 $55.725 575.143 3124 375 52.25 Retained Earnings Total Equity Total Liab. 80 Equity 567.165 $156 884 100% Statement 2022 2021 $3,840 (513,224) $6,455 $6,455 $354 Cash Flows from Operating Activities: Net income (Loss) Depreciation Extraordinary gain losses/writeoffs Accounts Payable SO $500 (5674) (549,870) $1,407 (542,937) $3,592 Inventory Accounts Receivable (555,907) ($28,196) 50 $0 Net cash from operations Cash Flows from Investing Artivities: Plant Improvements Cash Flows from Financing Activities: Dividends paid Sales of Common Stock SO $0 $25 246 $10.000 SO (59.781) Purchase of Common Stock $7.000 $10.000 SO ($17.000) Cash from long term debt Retirement of long term debt Change in current debt (net) Net cash from financing activities $23,660 $3,435 S55 907 (53.346) (531543) $0 Net change in cash position Closing cash position 50 SO 2022 Income Statement VN NA VN Axe NA Total Ace Ant Art Common Size 100% Product Name so 50 DS 05 5.30,402 31557 33,728 10 $20.07 25. 14.770 30 05 1165 310.000 3147 os 05 0 310.05 35.00 136 33200 314 13 Bredbo De Mae inverowy Carry Tudi Vanate CUS 05 10 SSSSS 30 30 S18129 es 516,318 118.175 SO 330 06 314 475 30 06 23 POS 50 30 12.000 11.00 50 WC9 455 2015 $3260 Canon Mary Period Costa Depreciation RSD Promotions 05 0 05 so 50 50 50 05 30 $1,200 os 05 05 05 50 51300 54800 51.300 05 os 06 NE 50 31200 S1600 361 51.000 Saim 12.000 55.000 92398 56 50 05 51000 $314 34654 50 Admin SA 5351 30 05 50 50 513 13.1% Total Period 53.929 55 011 54150 $10.21 30 06 30 30 $5851 54204) 58290 158483 Nel Mar

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Of EPAs Fiscal 2012 And 2011 Consolidated Financial Statements

Authors: U.S. Environmental Protection Agency

1st Edition

1500624705, 978-1500624705

More Books

Students also viewed these Accounting questions

Question

suggest a range of work sample exercises and design them

Answered: 1 week ago