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ochrefox117Lv1
28 Sep 2019
Financial statements for RevnikCompany follow.
REVNIKCOMPANY
Balance Sheets
As of December 31 2015 2014 Assets Current assets Cash $ 16,000 $ 12,000 Marketable securities 20,000 6,000 Accounts receivable (net) 54,000 46,000 Inventories 135,000 143,000 Prepaid items 25,000 10,000 Total currentassets 250,000 217,000 Investments 27,000 20,000 Plant (net) 270,000 255,000 Land 29,000 24,000 Total assets $ 576,000 $ 516,000 Liabilitiesand Stockholdersâ Equity Liabilities Currentliabilities Notes payable $ 17,000 $ 6,000 Accounts payable 113,800 100,000 Salaries payable 21,000 15,000 Total currentliabilities 151,800 121,000 Noncurrentliabilities Bonds payablew 100,000 100,000 Other 32,000 27,000 Totalnoncurrent liabilities 132,000 127,000 Totalliabilities 283,800 248,000 Stockholdersâequity Preferred stock,(par value $10, 4% cumulative,
non-participating;8,000 shares authorized and
issued) 80,000 80,000 Common stock (Nopar; 50,000 shares authorized;
10,000 shares issued) 80,000 80,000 Retainedearnings 132,200 108,000 Totalstockholdersâ equity 292,200 268,000 Total liabilitiesand stockholdersâ equity $ 576,000 $ 516,000
REVNIKCOMPANY
Statements of Income and Retained Earnings
For the Years Ended December 31 2015 2014 Revenues Sales (net) $ 230,000 $ 210,000 Other revenues 8,000 5,000 Totalrevenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, andadministrative 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Totalexpenses 206,000 182,200 Net earnings (netincome) 32,000 32,800 Retained earnings,January 1 108,000 83,000 Less: Preferred stockdividends 3,200 3,200 Common stock dividends 4,600 4,600 Retained earnings,December 31 $ 132,200 $ 108,000
What are the debt to equity ratio, Plant assets to long termdebt, asset turnover, return on investment, return on equity, andbook value per share for both years.
Financial statements for RevnikCompany follow. |
REVNIKCOMPANY Balance Sheets As of December 31 | ||||||
2015 | 2014 | |||||
Assets | ||||||
Current assets | ||||||
Cash | $ | 16,000 | $ | 12,000 | ||
Marketable securities | 20,000 | 6,000 | ||||
Accounts receivable (net) | 54,000 | 46,000 | ||||
Inventories | 135,000 | 143,000 | ||||
Prepaid items | 25,000 | 10,000 | ||||
Total currentassets | 250,000 | 217,000 | ||||
Investments | 27,000 | 20,000 | ||||
Plant (net) | 270,000 | 255,000 | ||||
Land | 29,000 | 24,000 | ||||
Total assets | $ | 576,000 | $ | 516,000 | ||
Liabilitiesand Stockholdersâ Equity | ||||||
Liabilities | ||||||
Currentliabilities | ||||||
Notes payable | $ | 17,000 | $ | 6,000 | ||
Accounts payable | 113,800 | 100,000 | ||||
Salaries payable | 21,000 | 15,000 | ||||
Total currentliabilities | 151,800 | 121,000 | ||||
Noncurrentliabilities | ||||||
Bonds payablew | 100,000 | 100,000 | ||||
Other | 32,000 | 27,000 | ||||
Totalnoncurrent liabilities | 132,000 | 127,000 | ||||
Totalliabilities | 283,800 | 248,000 | ||||
Stockholdersâequity | ||||||
Preferred stock,(par value $10, 4% cumulative, non-participating;8,000 shares authorized and issued) | 80,000 | 80,000 | ||||
Common stock (Nopar; 50,000 shares authorized; 10,000 shares issued) | 80,000 | 80,000 | ||||
Retainedearnings | 132,200 | 108,000 | ||||
Totalstockholdersâ equity | 292,200 | 268,000 | ||||
Total liabilitiesand stockholdersâ equity | $ | 576,000 | $ | 516,000 | ||
REVNIKCOMPANY Statements of Income and Retained Earnings For the Years Ended December 31 | ||||||
2015 | 2014 | |||||
Revenues | ||||||
Sales (net) | $ | 230,000 | $ | 210,000 | ||
Other revenues | 8,000 | 5,000 | ||||
Totalrevenues | 238,000 | 215,000 | ||||
Expenses | ||||||
Cost of goods sold | 120,000 | 103,000 | ||||
Selling, general, andadministrative | 55,000 | 50,000 | ||||
Interest expense | 8,000 | 7,200 | ||||
Income tax expense | 23,000 | 22,000 | ||||
Totalexpenses | 206,000 | 182,200 | ||||
Net earnings (netincome) | 32,000 | 32,800 | ||||
Retained earnings,January 1 | 108,000 | 83,000 | ||||
Less: Preferred stockdividends | 3,200 | 3,200 | ||||
Common stock dividends | 4,600 | 4,600 | ||||
Retained earnings,December 31 | $ | 132,200 | $ | 108,000 |
What are the debt to equity ratio, Plant assets to long termdebt, asset turnover, return on investment, return on equity, andbook value per share for both years.
Nestor RutherfordLv2
28 Sep 2019