Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Modern Appliances Corporation has reported its financial results for the year ended December 31, 2014. *Show work please! Modern Appliances Corporation has reported its financial
Modern Appliances Corporation has reported its financial results for the year ended December 31, 2014. *Show work please! Modern Appliances Corporation has reported its financial results for the year ended December 31, 2014. Modern Appliances Corporation Income Statement for the Fiscal Year Ended December 31, 2014 Net sales Cost of goods sold Gross profit Selling, general, and administrative expenses Depreciation Operating income Interest expense EBT Income taxes Net earnings $6,669,412,000 2,879,718,940 $3,789,693,060 1,047,293,423 233,136,116 $2,509,263,521 30,649,500 $2,478,614,021 650,415,613 $1,828,198,408 Modern Appliances Corporation Balance Sheet as of December 31, 2014 Assets: Cash and cash equivalents Accounts receivable Inventory Other current assets $584,250,000 1,163,460,300 1,109,480,300 283,903,300 $3,141,093,900 Liabilities Equity: Short-term borrowings Trade accounts payable Other current liabilities $113,662,398 497,623,488 1,092,217,037 Total current liabilities Total current assets Net fixed assets Goodwill Other assets 825,001,233 Long-term debt 137,291,553 Common stock 677,124,946 Retained earnings $1,703,502,923 1,206,488,673 372,920,514 1,497,599,522 Total assets $4,780,511,632 Total liabilities and equity $4,780,511,632 Using the information from the financial statements, complete a comprehensive ratio analysis for Modern Appliances Corporation. (Round your answers to 2 decimal places, eg. 12.25 or 12.25%. Use 365 days for calculation.)
Modern Appliances Corporation has reported its financial results for the year ended December 31, 2014. *Show work please!
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