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Please help with managerial accounting homework attached Thank you Exercise 18-1 Financial information for Kurzen Inc. is presented below. Current assets Plant assets (net) Current
Please help with managerial accounting homework attached
Thank you
Exercise 18-1 Financial information for Kurzen Inc. is presented below. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2017 December 31, 2016 $123,000 394,400 86,300 130,700 166,000 134,400 $103,000 332,000 70,800 88,000 120,000 156,200 Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) KURZEN INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2017 2016 Amount Percentage Assets $ Current assets $123,000 $103,000 % Plant assets (net) 394,400 332,000 % $ Total assets $517,400 $435,000 % Liabilities $ Current liabilities $86,300 $70,800 % Long-term liabilities 130,700 88,000 % Total liabilities 217,000 158,800 % Stockholders' Equity Common stock, $1 par 166,000 120,000 % Retained earnings 134,400 156,200 % Total stockholders' equity 300,400 276,200 % $ Total liabilities and stockholders' equity $517,400 $435,000 % Exercise 18-2 Operating data for Navarro Corporation are presented below. 2017 Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2016 $748,500 462,500 122,000 64,500 31,000 68,500 $605,000 391,000 67,500 55,000 23,500 68,000 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2017 Amount Net sales 2016 Percent Amount $748,50 0 $605,00 0 % Cost of goods sold 462,500 % 391,000 % Gross profit 286,000 % 214,000 % Selling expenses 122,000 Percent % 67,500 % Administrative expenses 64,500 % 55,000 % Total operating expenses 186,500 % 122,500 % Income before income taxes 99,500 % 91,500 % Income taxes expense 31,000 % 23,500 % Net income $68,500 % $68,000 % % Problem 18-1A Comparative statement data for Farris Company and Ratzlaff Company, two competitors, appear below. All balance sheet data are as of December 31, 2017, and December 31, 2016. Farris Company 2017 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense 2016 Ratzlaff Company 2017 $1,560,000 $339,300 1,100,000 241,200 303,500 79,400 8,800 2,900 54,500 6,200 2016 Current assets 326,000 $314,500 83,500 $78,600 Plant assets (net) 519,600 497,900 141,000 125,100 Current liabilities 66,000 75,800 36,600 29,800 Long-term liabilities 107,800 91,600 30,400 25,600 Common stock, $10 par 498,000 498,000 122,500 122,500 Retained earnings 173,800 147,000 35,000 25,800 Don't show me this message again for the assignment Prepare a vertical analysis of the 2017 income statement data for Farris Company and Ratzlaff Company in columnar form. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Farris Company Dollars Ratzlaff Company Percent Dollars $ Percent $ % % % % % % % % % % % % % % % % $ $ % Don't show me this message again for the assignment Link to Text Link to Text Compute the return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Farris Company Ratzlaff Company % Return on assets % % Return on common stockholders' equity % % Don't show me this message again for the assignment Link to Text Link to Text Problem 18-2A The comparative statements of Painter Tool Company are presented below. PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 2017 Net sales 2016 $1,813,300 $1,753,100 1,008,900 983,000 Gross profit 804,400 770,100 Selling and administrative expenses 516,800 477,800 Income from operations 287,600 292,300 18,900 14,800 268,700 277,500 80,100 77,700 $ 188,600 $ 199,800 Cost of goods sold Other expenses and losses Interest expense Income before income taxes Income tax expense Net income PAINTER TOOL COMPANY Balance Sheets December 31 Assets 2017 2016 $60,200 $64,500 70,600 49,200 Accounts receivable (net) 117,800 102,700 Inventory 123,600 114,700 372,200 331,100 602,200 517,900 $974,400 $849,000 $159,200 $145,200 42,400 41,500 201,600 186,700 201,600 201,600 403,200 388,300 Common stock ($5 par) 275,300 301,900 Retained earnings 295,900 158,800 571,200 460,700 $974,400 $849,000 Current assets Cash Short-term investments Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 58,700.) (Round Earnings per share, Current ratio and Acid-test ratio to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) $ (a) Earnings per share (b) Return on common stockholders' equity % (c) % Return on assets (d) Current ratio :1 (e) Acid-test ratio :1 (f) Accounts receivable turnover times (g) Inventory turnover times (h) Times interest earned times (i) Asset turnover times (j) Debt to assets ratio Don't show me this message again for the assignment %
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