Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Jacksonville Medical Corporation financial statements follow: E: (Click the icon to view the consolidated balance sheets.) : (Click the icon to view the consolidated

image text in transcribed

The Jacksonville Medical Corporation financial statements follow: E: (Click the icon to view the consolidated balance sheets.) : (Click the icon to view the consolidated income statements.) Jacksonville Medical's long-term debt carries an annual interest rate of 11%. During the year ended December 31, 2018, Jacksonville's times-interest-earned ratio was Jacksonville Medical Corporation Consolidated Statements of Financial Position December 31, 2018 2017 (Use the 2018 ending debt balance for any applicable calculations. Round your intermediary calculation to two decimal places, X.XX. Round your final answer to one decimal plac (In Millions) Data Table Assets: O A. 132.2 times OB. 15.1 times O C. $33,691. OD. 128.8 times. Current assets Cash and cash equivalents Short-term investments Accounts and notes receivable 4,275 $ 840 3,407 452 1,690 4.180 518 2,406 414 1,230 Inventories, at cost Prepaid expense and other current assets Total current assets Property and equipment, net Investments 10,664 1,550 6,690 314 8,748 913 5,340 166 15,167 Other non-current assets 3,643 2,600 $ 19,218 $ Jacksonville Medical Corporation Consolidated Statements of Income Year ended December 31, (In Millions, Except per Share Amounts) 2018 2017 2016 Net revenue $ 42,199 $ 35,614 $ 30,968 Cost of goods sold 33,691 29,270 25,488 8.508 6.344 5.480 Gross profit Operating expenses: Selling, general, and administrative 2,950 Research, development, and engineering 554 535 505 Special charges 4,228 3,504 Total operating expenses 3,640 Operating income 4,280 2,840 1,840 155 193 (38) Investment and other income (loss), net Income before income taxes 4,435 3,033 1,802 Income tax expense 1,128 477 $ 3,307 $ 2,121 $ Net income Earnings per common share: 1.26 $ 0.97 $ 0.43 Basic 585 Total assets Liabilities and stockholder's equity: Current liabilities Accounts payable 7,710 $ 3,600 6,002 3,011 Accrued and other liabilities Total current liabilities 11,310 302 1,700 Long-term debt Other non-current liabilities Total liabilities 9,013 303 1,185 912 13,312 10,501 Print Done Click to select your answer. Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions