Question
Please answer the following question by creating a balance sheet and financial statement. Please show all work. What is the current year's cash balance? Answer
Please answer the following question by creating a balance sheet and financial statement. Please show all work.
What is the current year's cash balance?
Answer format: Number: Round to: 0 decimal places.
What is the entry for the current year's operating expense on a common-sized income statement?
What is the current year's return on assets (ROA)?
What is the current year's return on equity (ROE)?
What is the current year's entry for long-term debt on a common-sized balance sheet?
Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42,000 COGS 131,400 179,654.00 Depreciation expense 21,600 23,112.00 Interest expense 16,200 16,235.00 Inventories 111,600 115,200 Long-term debt 135,000 137,925.00 Net fixed assets 379,032.00 399,600 Notes payable 59,400 64,800 50,400 66,145.00 Operating expenses (excl. depr.) Retained earnings 122,400 136,800 Sales 255,600 338,405.00 Taxes 9,900 19,237.00Step by Step Solution
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