Question
Prepare Dupont's consolidated 20X1 income statement and its consolidated balance sheet for December 31,20X1. The below chart is the data needed Net sales and other
Prepare Dupont's consolidated 20X1 income statement and its consolidated balance sheet for December 31,20X1.
The below chart is the data needed
Net sales and other operating revenue | $990 |
Investments in affiliated companies | 190 |
Common stock, 5 comma 000 comma 0005,000,000, $1 par | 5 |
Depreciation and amortization | 45 |
Accounts payable | 215 |
Cash | 33 |
Paid-in capital in excess of par | 110 |
Interest expense | 30 |
Retained earnings | 171 |
Accrued income taxes payable | 35 |
Cost of goods sold and operating expenses, exclusive of depreciation and amortization | 680 |
Subordinated debentures, 11% interest, due December 31, 20 Upper X 820X8 | 130 |
Noncontrolling interest in consolidated subsidiaries' net income | 34 |
Goodwill | 108 |
First-mortgage bonds, 10% interest, due December 31, 20 Upper X 920X9 | 69 |
Property, plant, and equipment, net | 122 |
Preferred stock, 4 comma 000 comma 0004,000,000 shares, $50 par, dividend rate is $3.5 per share | 200 |
Short-term investments at market value | 43 |
Income tax expense | 96 |
Accounts receivable, net | 168 |
Noncontrolling interest in subsidiaries | 67 |
Inventories at average cost | 338 |
Dividends declared and paid on preferred stock | 14 |
Equity in earnings of affiliated companies | 5 |
PrintDone
Prepare Dupont's consolidated income statement. (Enter all amounts in millions except earnings per share. Round earnings per share to the nearest cent.)
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Dupont Molding Company | ||
Consolidated Income Statement | ||
For the Year Ended December 31, 20X1 | ||
(in millions) | ||
Net sales and other operating revenue | $ | |
Cost of goods sold and operating expenses, exclusive of depreciation and amortization | ||
Depreciation and amortization | ||
Equity in earnings of affiliated companies | ||
Operating income | ||
Interest expense | ||
Income before income taxes | ||
Income taxes | ||
Net earnings before noncontrolling interests | ||
Noncontrolling interest in consolidated subsidiaries' net income | ||
Net earnings attributable to Dupont Molding Company | ||
Earnings per share of common stock: (12,000,000 shares) | $ |
Prepare
Dupont'sDupont's
consolidated balance sheet.
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Dupont Molding Company | |
Consolidated Balance Sheet | |
As of December 31, 20X1 | |
(in millions) | |
ASSETS | |
Current Assets | |
Cash | $ |
Short-term investments at market value | |
Accounts receivable, net | |
Inventories at average cost | |
Total current assets | |
Investments in affiliated companies | |
Property, plant, and equipment, net | |
Goodwill | |
Total assets | $ |
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LIABILITIES AND SHAREHOLDERS' EQUITY | |
Current Liabilities | |
Accounts payable | $ |
Accrued income taxes payable | |
Total current liabilities | |
Long-term liabilities | |
First mortgage bonds, 10% interest, due Dec. 31, 20X9 | |
Subordinated debentures, 11% interest, due Dec. 31, 20X8 | |
Total long-term liabilities | |
Total liabilities | $ |
Stockholders' Equity | |
Preferred stock, 2,000,000 shares, $50 par | |
Common stock, 12,000,000 shares, $1 par | |
Paid-in capital in excess of par | |
Retained earnings | |
Total stockholders' equity | |
Noncontrolling interest in subsidiaries | |
Total equity | |
Total liabilities and stockholders' equity | $ |
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