Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I only need WVVI information please. 1.LO 8.2 Select information of the following publicly traded companies are below. ar Willamette Valley Vineyards (WVVI) - FYE
I only need WVVI information please.
1.LO 8.2 Select information of the following publicly traded companies are below. ar Willamette Valley Vineyards (WVVI) - FYE 2020 ( BALANCE SHEETS- USD ($) Dec 31, 2020 Dec 31, 2019 CURRENTASSETS Cash and cash equivalents $ 13.999,755 $ 7,050,176 Accounts receivable, not (Note 2) 2,671576 1,814,004 Inventories (Note 3) 17,687973 17 075,080 Prepaid expenses and other current 182 266 202 981 STATEMENTS OF OPERATIONS USD 12 Months Ended assets (S) Dec. 31, 2020 Dec 31, 2019 Income tax receivable 484,580 623,568 Income Statement [Abstract] Total current assets 35 026 130 26,765,809 Sales, not $ 27,314 852 $24.749.263 Other assets 13824 13 824 Cost of sales 10,585,076 9,454,681 Vineyard development costs.net 8,020,074 7,624,646 Gross profit 16,729 776 15.294,582 Property and equipment, not (Note 4) 31.488 856 28.648,301 OPERATING EXPENSES: Operating foase right of use assets 4.943.463 4,862 907 Sales and marketing 7,458,130 7.440.088 Total assets 79.490 347 67 915,487 General and administrativo 4,269,804 4,117.970 CURRENT LIABILITIES Total operating expenses 11,728,003 11.567058 Accounts payable 1.416,210 859,215 Income from operations 5001,773 3,727 524 Accrued expenses 1,335,125 1,004,281 OTHER INCOME (EXPENSE) Investor deposits for prefered stock 510,636 0 Interest income 21,022 48,066 Current portion of note payable 1,384,581 1.468,473 Interest expense (414,061) (440 999) Current portion of long-term debt 450,040 438,378 Other income nel 165,016 128.433 Current portion of lease liabilities 277686 203 482 Income before income taxes 4,774 650 3.463024 Unearned revenue 622,077 604.777 Income tax provision (1,379,854) (952,123) Grapes payable 1 307 165 792,595 Net income 3,394.996 2,510 901 Total current liabilities 7303 520 5 371 201 0 ai 1.a. Calculate and compare Fill in the chart below with the relevant information for FYE 2020 for SAM, EAST, and WVVI SAM EAST WVVI USD $ in thousands 2020 2020 2020 End. Accts. Payable Beg. Accts. Payable Average AP bal. COGS + End. Inventory - Beg. Inventory Purchases (est.) Average AP bal. =AP T/O (times per year) 365 days + AP T/O (times per year) DPO (days) QUESTION 1 P.1.a. The estimated 2020 purchases for Willamette Valley Vineyards (WVVI) were $[a1]. Input amounts in thousands and rounded to the nearest thousand (e.g. $1,234,567 1,235) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started