Question A

Question B

Question C

Question E

Sheridan Company purchased a new machine on October 1, 2022. at a cost of $77.980. The company estimated that the machine has a salvage value of $7.070. The machine is expected to be used for 57.980 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, eg. 5,275.25.) 2022 - 2023 The depreciation expense under the straight-line method $ Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,700 and net income of $94. Its balance sheet also showed total assets at the beginning of the year of $24,640 and total assets at the end of the year of $23,300. Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%) Asset turnover times Return on assets Cullumber Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $131.000. Over its 4-year useful life, the bus is expected to be driven 236,000 miles. Salvage value is expected to be $7.100 (a) Compute the depreciation cost per unit. (Round answer to 3 decimal places, eg. 6.251) Depreciation cost per unit $ Sheffield Corporation and Grouper Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Sheffield Corp. Grouper Corp. Net income $ 209,800 $ 312,720 Sales revenue 1,049,000 1,303,000 Total assets (average) 4.196,000 3.257,500 Plant assets (average) 1,898,000 2,850,000 325,100 Intangible assets (goodwill) For each company, calculate these values: (Round return on assets and profit margin to 1 decimal place, e.g. 6.2% and asset turnover to 2 decimal places, e.g. 17.54.) Sheffield Corp. Grouper Corp (1) Return on assets (2) Profit margin (3) Asset turnover times