Question
Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2
Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.)
Income Statement | 2017 | ||
Sales | $ | 5,670,000 |
|
Cost of goods sold |
| 2,967,000 |
|
Depreciation |
| 293,200 |
|
Selling & admin. expenses |
| 1,570,000 |
|
EBIT | $ | 839,800 |
|
Interest expense |
| 151,000 |
|
Taxable income | $ | 688,800 |
|
Taxes |
| 310,500 |
|
Net income | $ | 378,300 |
|
Balance Sheet, Year-End | 2017 |
| 2016 | ||||
Assets |
|
|
|
|
|
|
|
Cash | $ | 46,200 |
|
| $ | 67,000 |
|
Accounts receivable |
| 632,000 |
|
|
| 1,159,200 |
|
Inventory |
| 469,200 |
|
|
| 806,300 |
|
Total current assets | $ | 1,147,400 |
|
| $ | 2,032,500 |
|
Fixed assets |
| 2,993,000 |
|
|
| 4,737,000 |
|
Total assets | $ | 4,140,400 |
|
| $ | 6,769,500 |
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
Accounts payable | $ | 329,500 |
|
| $ | 796,000 |
|
Short-term debt |
| 498,000 |
|
|
| 975,300 |
|
Total current liabilities | $ | 827,500 |
|
| $ | 1,771,300 |
|
Long-term bonds |
| 2,097,800 |
|
|
| 3,901,400 |
|
Total liabilities | $ | 2,925,300 |
|
| $ | 5,672,700 |
|
Common stock | $ | 315,200 |
|
| $ | 315,200 |
|
Retained earnings |
| 899,900 |
|
|
| 781,600 |
|
Total stockholders' equity | $ | 1,215,100 |
|
| $ | 1,096,800 |
|
Total liabilities and stockholders' equity | $ | 4,140,400 |
|
| $ | 6,769,500 |
|
c. | Cash flow from operating activities in 2017 |
g. | Operating profit margin |
h. | Return on equity |
j. | Compound leverage ratio |
k. | Net cash provided by operating activities |
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