Question 4 Not complete Marked out of 10.00 Key Relations: Revenues, Expenses, Dividends, and retained Earnings Compute the missing amounts in the following table. At the end of 2012, retained earnings had a balance of negative $2,086. Round to one decimal place. (Hint Dividends reduce the retained earnings account.) 2010 2012 Retained earnings (beginning) 511.846,5) $(2,030,5) ${2,853.0) Revenues 4,890.5 5,377,0 0 Expenses 0 5,6780 5.475,0 2011 0 17.5 Didends Calculate expenses as a percentage of revenues for the three years. Round your answer to the nearest whole percentage (ex: 83%). 2010 2011 2012 OM OM ON Calculate net income as a percentage of revenues for the three years. Round your answer to the nearest whole percentage (ex: 83%). Use negative signs with answers when appropriate. 2010 2012 2011 0 0% 0% Mark 1.75 out of 10,00 Question 3 Partially correct Creating Balance Sheets and income Statements Using the information in the below table, prepare a classified balance sheet for Arrow Company as of December 31, 2014 and December 31, 2015, along with multi-step income statements for the years then ended, December 31, 2014 December 31, 2015 Property, plant, and equipment (net) 53.250 Long-term debt Depreciation expense Retained earnings 1,175 Sales revenue 5,000 7,500 Account $3,675 2.450 3,450 250 300 650 250 350 income taxes 250 350 Current portion of long-term debt Total current liabilities 650 800 625 1,200 Inventory 3,000 4.500 Cost of goods sold 500 700 Cash 875 1,450 Selling general and administrative expenses 200 200 Other current assets 675 1,150 Accounts receivable 125 250 100 125 Interest expense Dividends Accounts payable Common stock 400 450 1,500 1,500 Arrow Company Balance Sheet As of December 31, 2015 2015 2014 $ X X$ Cash x Accounts Receivable Inventory Other current assets Common stock 1,500 1.500 Arrow Company Balance Sheet As of December 31, 2015 2015 2014 Cash $ XS X Accounts Receivable X X X K Inventory Other current assets Total current assets X X X Property, plant and equipment X Total assets $ X5 $ x 5 X X Accounts payable Current portion of long-term debt Total current abilities Long-term debt Total liabilities X X X X X Common stock X X x Retained earnings Total equity Total liabilities and equity X $ XS X Arrow Company Income Statement For the year ended December 31, 2015 2015 2014 XS $ Sales X X X X X X X Cost of goods sold Gross profit Selling general & administrative expenses Depreciation expense Operating income interest expense Pretax income K K X X Income taxes X Net income Analysis of Financial Statement Data The following data were taken from the financial statements of The Amphlett Corporation 2012 2013 Net sales $148,860 5164585 Net income 27,765 31,340 Total assets 201,225 222 440 Shareholders equity 101.975 121.165 Required Calculate the following ratios for 2012 and 2013: 2012 2013 X X 96 X a. Return on equity (round to one decimal place) b. Return on assets (round to one decimal place) c. Return on sales (round to one decimal place) d. Total assets to shareholders' equity (financial leverage) (round to two decimal places) e. Asset turnover (round to two decimal places) X * $8 XXX x Check Calculating Earnings per Share Little, Inc., reported earnings of $170,000 for 2013, and at the end of the year, had the following securities outstanding: 1.60,000 shares of common stock. (The year-end share price was $25 per share). 2. Employee stock options for the purchase of 8,000 common shares at an exercise price of $22 per share. (The options are full vested). (a) Calculate the basic earnings per share for Little Inc for 2013. Round to two decimal places X (b) Calculate the diluted earnings per share for Little, Inc. for 2013. Round to two decimal places. Hint. Do not consider the effect of the treasury stock buyback as this technical issue is not covered in the chapter. X
