please type answer letter a - p
Before you begin, print out all the pages in this workbook The financial statements of Dandy Distributors Ltd. are shown on the "Fcl. Stmts. page Required: 1 Based on Dandy's financial statements, calculate ratios for the year ended December 3 2020. Assume all sales are on credit. Show your work 2 From these ratios, analyze the financial performance of Dandy Dandy Distributors Ltd. Balance Sheet At December 31, 2020 Assets Current 2019 2000 Cash S63,000 4,020,000 2,420,000 520,540 4221,000 2468.400 6,709,940 Accounts receivable, net Inventories 6,503,000 Plant assets Land 8,541,260 8,624.000 6,537,000 Building, net Patents, net 6.929.220 27.300 27.300 Goodwill 25,600 15.523.380 25.600 15.233.900 $21,716,900 22233320 42 Linbities Current Trade accounts payable Estimated current labilities $698.000 $642,160 130.544 209.520 117,600 Estimated warranty lisbilities Note payable Dividends payable Interest payable 194,000 24,200 81630 77.700 14,157 14,300 89.300 Salaries and benefits payable Sales tax payable 90,000 23,920 16674 1,621,014 23,000 19,500 Unearned rent 2,237,764 Current portion of mortgage payable 11,110 11443 Corporate income taxes payable 3.507 174 2.820.163 Non-current 13,644,900 (2,237,764 Mortgage payable Less: Current portion 15,009,390 (1,621,014 13,388.376 11407,136 14,914,330 Total liabilities 16,208,538 Stockholders' Equity Common stock, $1 per share Preferred stock, $10 per share Retained earnings (deficit) 679,400 652,000 19,670 19,670 6,103,520 5,353,112 6.024,782 6,802,590 Total liabilities and 5/H equity $21,716.900 22233320.42 Dandy Distributors Ltd Income Statement For the Year Ended December 31, 2020 2020 2019 $21,133,000 19442360.00 Sales, net 16,061,080 14,970617 Less: Cost of goods sold 5,071,920 4471,743 Gross profit Operating espenses Selling 832,590 Salaries and benefits 541,000 95,004 Delivery 104 400 153.600 Office suppies 152,064 Warranty 422,660 431113 1.510 771 Total seling General and administrative Bad debts 1.521,660 633,930 646,670 Depreciation 1.176,660 1.200,193 Professional fee Total general and adminstrative 157,077 168.900 1,979550 2,001,940 Tetal operating expenses- Income doss) from operations Other income (expenses) 3514,731 1,501.210 1,570.710 957,032 Rent revenue 187,000 200.090 income llossi before interest and income tases 1.157.122 1,757.710 interest expense Income (lossl before income taxes Income tases trecovered) Net income (loss 682.245 668 600 488521 1,075 465 247.357 5828.108 112,360 $376,162 Dandy Distributors Ltd Statement of Changes in Equity For the Year Ended December 31, 2020 2020 2019 Aetained Pref Common eamings (defcit) $5,353,112 stock Total equity $6,024,782 Total equity stocks Balance (deficit) at Jan. 1 $652,000 519.670 S5.730 250 27,400 27,400 Stock issued 828,108 Net income (loss) 828,108 376,162 Cash dividends declared 139,300 138,400 Preferred (39,300 (38,400) (43,230 Common (38,400) Balance (deficit) at Dec. 31, 5679.400 $19,670 $6,103,520 56,802,590 $6,024,782 %9 %S (uani3) aueys uowwo3 Jad pjaik puapiNa d (uana) o ujea-ae as uouo3 Jad (sso) sauue u pauuea sasaui saw wA oges Aanba u/s 01 1qaa ogei Ainba u/s uo uunjay ST t O'E Tb % 8 onea siasse e01 uo uuniay 6'0 oei sasse jeio1 o1 sajes %E't %28 %9'T % 6't oges ugoud ssog 3upesado anuanay %822 %00 (sAep) apA 491 6ED ZS 6L 0L (SAep) uopa03 a suno3 LT 6t a6niano onea uaun e 8tor 6102 Aasnpu sogau s,Apuag p11 sJ0inqusIg Apueg
