Question
Income Statement Year 2021 Total Revenue - - - 875.3 Cost of Sales - - - 659.1 Gross Margin - - - 216.2 Operating, Selling,
Income Statement Year 2021 Total Revenue - - - 875.3 Cost of Sales - - - 659.1 Gross Margin - - - 216.2 Operating, Selling, general, and administrative - - - 203.4 Operating Income - - - 12.8 Interest, net - - - 6.8 Income before Income Taxes - - - 6 Provision for Income taxes - - - (0.4 ) Consolidated net income - - - 6.4
Balance Sheet
Year 2021 2020
Assets
Current Assets
Cash and cash
equivalents - - - 17.4 16.8
Accounts Receivable - - - 55 54.8
Inventories - - - 119.7 125.4
Prepaid expenses and
other - - - 5 4.7
Total current assets - - - 197.1 201.7
Property and equipment,
net - - - 197.8 199.4
Total assets - - - 394.9 401.1
Liabilities
Current Liabilities
Accounts payable - - - 90.6 92.7
Accrued liabilities - - - 50.5 48.3
Total current liabilities - - - 141.1 141
Long-term debt - - - 92.9 99.2
Total Liabilities - - - 234 240.2
Equity
Retained earnings - - - 58.1 51.7
Common Stock - - - 102.8 109.2
Total equity - - - 160.9 160.9
Total liabilities & equity - - - 394.9 401.1
1. Return on Sales
Net Income
Revenue
1. Profitability
=
2. Assets Turnover
Revenue
Total Assets
2. Efficiency
=
3. Assets-to-Equity Ratio
Total Assets
Total Equity
3. Leverage
=
4. Return on Equity
Net Income
Total Equity
4. Return on Equity
=
1. Profitability
2. Efficiency
3. Leverage
=
4. Return on Equity
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Financial Accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thomas, W. Morley Lemon, Catherine Seguin, Sandra Robertson Lemon
4th Canadian Edition
0131384333, 9780131384330
