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Really need some help! Please round to 1 decimal place (ex: 52.7) Thanks so much!! Pippin Piping Co. manufactures decorative fabric trims. The company's financial
Really need some help! Please round to 1 decimal place (ex: 52.7) Thanks so much!!
Pippin Piping Co. manufactures decorative fabric trims. The company's financial statements follow Pippin Piping Co. For the Years Ended December 31 2016 2014 $484,200 2015 $523,000 291,000 259,200 234,300 285,600 263,800 249,900 106,200 104,600 104,100 179,400 19,200 145,800 Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Other revenue Interest expense Income before income tax Income tax expense (40%) Net income $576,600 22,500 11,200 15,900 23,900 11,900 10,500 190,700 164,600 157,800 65,840 76,280 63,120 $114,420 98,760 94,680 Pippin Piping Co. Balance Sheets As of December 31 Assets 2016 2015 2014 S32,000 S25,800 $20,500 94,300 56,000 4,600 229,860 243,500 175,400 668,900 576,000 540,300 $898,760 $819,500 $715,700 Cash 126,860 127,000 80,700 10,000 Accounts receivable (net) 60,000 11,000 Prepaid expenses Total current assets Property & equipment (net) Total Assets Liabilities and Stockholders' Equity Accounts payable Accrued S53,120 S81,200 79,100 41,700 93,440 120,800 150,000 234,120 253,440 270,800 11,000 64,120 expenses 12,240 Total current liabilities Long-term debt 170,000 160,000 Total liabilities Stockholders' Equity 5,000 62,000 559,640 461,060 377,900 664,640 566,060 444,900 Total Liabilities and Stockholders' Equity $898,760 $819,500 $715,700 Common stock, $0.50 par value Additional paid-in capital Retained earnings 6,000 99,000 6,000 99,000 Total stockholders' equity Additional information 2016 2015 2014 Closing stock price Shares outstanding Dividends paid per share $38 12,000 $1.32 $35 12,000 1.30 $30 10,000 1.25Step by Step Solution
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