Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me compute the component percentages on the balance sheet for Year 2 and also compute the ratios in the DuPont model for year

Please help me compute the component percentages on the balance sheet for Year 2 and also compute the ratios in the DuPont model for year 2.

image text in transcribedimage text in transcribed

Required Information PRINCE COMPANY Balance Sheet At December 31, Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) $190,000167,000 00,000 67,000 53,000 14,000 4,000 10,000 112,000 78,000 56,000 22,000 8,000 $14,000 Component Perce es Year 2 Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets (the base amount) Current liabilities Long-term liabilities (10% interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and owners' equity (the base amount) 0.00% $ 7,000 18,000 34,000 38,000 $97000 16,000 17.000 45,000 30,000 5,000 $97000 $ 4,000 14.000 40,000 45,000 $103,000 Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (10% interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders equity 0.00% 45,000 30,000 12,000 $103,000 References eBook & Resources

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions