Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The one without a label is the balance sheet as of Dec 31, 2021. The ratios and answers for ROA, profit margin, debt, gross margin,

The one without a label is the balance sheet as of Dec 31, 2021.
The ratios and answers for ROA, profit margin, debt, gross margin, and current are all totally correct. The others are either unanswered or incorrect... Please help. There are also the short answer follow ups which I need as well...
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
A Byte of Accounting Balance Sheet As of December 31, 2020 Assets Current Assets Liabilities Current Liabilities \begin{tabular}{|l|rr} Accounts Payable & $47,330.00 \\ \hline Salanies Payable & 960.00 \\ \hline Income Taxes Payable & 6,000.00 \end{tabular} Total Liabilities $54,290.00 Stockholder's Equity B C D E FG A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue $455,666.00 Cost of Goods Sold Gross Profit $227,857.00 Operating Expenses fx Assets Current Assets Liabilities Current Liabilities Stockholder's Equity Capital Stock, \$0.01 par value Paid in Capital in Excess of Par Retained Eamings Total Stockholder's Equity 422,119.73 Total Liabilities and Stockholder's Equity $583,274.06 A Byte of Accounting Statement of Cash Flows - Indirect Method For Year Ending December 31, 2021 Cash Flow from Operating Activities Net Income $25,384.73 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expenses Decrease in accounts receivable Increase in prepaid Insurance Change in prepaid rent Decrease in office supplies Increase in inventory Decrease in payables Increase in income tax payable Net cash flows from operations $21,048.30 Cash Flows from Investing Activities Purchase of equipment $(470.00) Net cash flows from investing activities (470.00) Cash Flows from Financing Activities Issuance of common stock Proceeds from issuance of bonds payable Payment of cash dividends Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period \begin{tabular}{|lr|} & 182,899.60 \\ \hline$ & 203,477.90 \\ & 274,390.00 \\ \hline$ & 477,867.90 \\ \hline \hline \end{tabular} Noncash Activities Purchased equipment by issuing note payable $4,230.00 Return on Assets Net inceme Use complele seriences to complete the fill in questions. Fitetered and explain this compary's Dividend' Yieid Irierpret and explain this compary's Days' Sales in trveriory Thierpret and expiain tikis compary's Total Asset Tirrouner Hiterpret and explain Ifis compary's Account Receivatle TLrnover Raio Explain why you wodd or woudd fot invest in this compary Extra Spece

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

| Whom can I trust to help me make sure that I am living my values?

Answered: 1 week ago

Question

to

Answered: 1 week ago