Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the balance sheet and income statement below: VALIUM'S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in thousands of

image text in transcribedimage text in transcribed

Use the balance sheet and income statement below: VALIUM'S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in thousands of dollars) Assets 2018 2017 Liabilities and Equity 2018 2017 Current assets: Current liabilities: Cash and marketable securities $ 77 $ 76 Accrued wages and taxes $ 56 $ 46 Accounts receivable 191 186 Accounts payable 153 146 Inventory 322 296 Notes payable 136 136 Total $ 590 $ 558 Total $ 345 $ 328 Fixed assets: Long-term debt $ 591 $ 566 Gross plant and equipment $1,088 $ 892 Stockholders' equity: Less: Accumulated depreciation 156 118 Preferred stock (6 thousand shares) $ 6 $ 6 Net plant and equipment $ 932 $ 774 Other long-term assets Total 144 144 Common stock and paid-in surplus (100 thousand shares) Retained earnings 120 120 604 456 Total assets $1,076 $1,666 $ 918 Total $ 730 $ 582 $1,476 Total liabilities and equity $1,666 $1,476 VALIUM'S MEDICAL SUPPLY CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in thousands of dollars) Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2018 $ 902 394 $ 508 52 2017 $ 812 357 $ 455 46 $ 456 38 $ 418 $ 409 36 $ 373 53 47 $ 365 136 $ 326 116 $ 229 $ 210 $ 6 $ 6 $ 223 $ 204 75 75 $ 148 $ 129 $2.23 $2.04 $0.75 $0.75 $7.24 $5.76 $8.27 $6.24 Prepare a statement of cash flows for Valium's Medical Supply Corporation. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

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

Fraud Examination

Authors: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman

5th edition

1305079140, 978-1305079144

More Books

Students also viewed these Accounting questions