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Income Statement for year 2011 2010 Net Sales Revenue (all Credit Sales) 230,000 200,000 Cost of Goods Sold 165,000 150,000 Gross Profit 65,000 50,000 Salaries
Income Statement for year | ||||||||
2011 | 2010 | |||||||
Net Sales Revenue (all Credit Sales) | 230,000 | 200,000 | ||||||
Cost of Goods Sold | 165,000 | 150,000 | ||||||
Gross Profit | 65,000 | 50,000 | ||||||
Salaries & admin Expense | 9,500 | 10,000 | ||||||
Depreciation Expense | 14,500 | 14,000 | ||||||
Income before Tax | 41,000 | 26,000 | ||||||
Tax expense | 11,000 | 5,000 | ||||||
Net Income | 30,000 | 21,000 | ||||||
Shares Outstanding | 150,000 | 150,000 | ||||||
Stock Price | $15.00 | $12.00 | ||||||
Balance sheet @ year end | ||||||||
2011 | 2010 | |||||||
Current Assets | ||||||||
Cash | 33,000 | 20,000 | ||||||
Accounts Receivables, net (2009 ending 20,000) | 33,000 | 14,000 | ||||||
Inventory (2009 ending 25,000) | 27,000 | 20,000 | ||||||
Total Current Assets | 93,000 | 54,000 | ||||||
Property Plant & Equipment | 60,000 | 78,000 | ||||||
Accumulated depreciation | (29,000) | (24,000) | ||||||
Total Assets | 124,000 | 108,000 | ||||||
Accounts Payable | 29,000 | 15,000 | ||||||
Income Tax Payable | 7,000 | 8,000 | ||||||
Total Current Liabilities | 36,000 | 23,000 | ||||||
Bonds Payable | 27,000 | 33,000 | ||||||
Total Liabilities | 63,000 | 56,000 | ||||||
Common Stock | 18,000 | 14,000 | ||||||
Retained Earnings | 43,000 | 38,000 | ||||||
Total Liabilities and Shareholders Equity | 124,000 | 108,000 | ||||||
Find: | 2011 | 2010 | ||||||
1 | Current Ratio | 2.583 | 2.347 | |||||
2 | Price/Earnings Ratio | 75 | 85.714 | |||||
3 | Accounts Receivable Turnover | |||||||
4 | Inventory Turnover | |||||||
5 | Earning per share (Ignore Dividends) | 0.2 | 0.14 | |||||
6 | Quick ratio (Acid Test) | |||||||
7 | Debt Ratio | |||||||
8 | Do a Horizontal Analysis of the Balance sheet above - difference and % Do it right next to the Balance Sheet | |||||||
9 | Do a Vertical analysis of the Income Statement above Do it right next to the income statement 2011 and 2010 | |||||||
ADDITIONAL INFORMATION | ||||||||
Dividends declared and paid 25000 | ||||||||
Equipment was sold for 8,500, it was bought for 18,000 and had a book value of 8,500 when sold | ||||||||
All sales are credit sales | ||||||||
10 | In the space below, create the Cash Flow Statement for 2011 | |||||||
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