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hi I need help answering the following questions thank you The following information (In $ millions) comes from the Annual Report of Saratoga Springs Co.
hi I need help answering the following questions thank you
The following information (In $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12 Year ended 12/31/2821 Net sales $7,959 Cost of goods sold 4,777 Selling and administrative expense 1,919 Interest expense 426 Income before taxes 837 Net income 468 Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets 12/31/2021 $ 985 1,020 1,065 13,510 $16,580 12/31/2020 65 674 529 3,854 $5,122 Total current liabilities Long-term debt Total liabilities Total stockholders equity $ 5,757 5,601 $11, 358 $ 5,222 $2,219 2,231 $4,450 $ 672 Required: Compute the profit margin on sales for 2021. (Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%.) Profit margin on sales 96 The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Debit Credit 199,000 189,000 279.000 509,000 Account Title Accounts payable Accounts receivable Accumulated depreciation equipment Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (due in six months) Rent expense Retained earnings Salaries payable Sales revenue Salaries expense Totals 45,00 499, eee 79,00 738,000 9. Bee 169,00 79, 800 49, ee 86,990 27,000 827.000 239, eee 1,916,000 1,916,000 Required Compute Kline's 12/31/2021 total current liabilities: Current liabilities The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Debit Credit 97,000 177,000 267,000 497, eee Account Title Accounts payable Accounts receivable Accumulated depreciation-equipment Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (due in Ex months) Rent expense Retained earnings Salaries payable Sales revenue Salaries expense Totals 33,000 487,000 67,000 714, eee 4,000 157, eee dece Bee 37,808 69,000 15, eee 791,000 127, eee 1,803, eee 1,803,00 Required: Compute Kline's 12/31/2021 total shareholders equity Shareholders equity Step by Step Solution
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