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Week 10 homework assignment

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Question;Exercise 14-3;The comparative condensed balance sheets of Garcia;Corporation are presented below.;GARCIA CORPORATION;Comparative Condensed Balance Sheets;December 31;2014 2013;Assets;Current assets $ 76,000 $ 80,000;Property, plant;and equipment (net) 100,000 90,000;Intangibles 24,000 40,000;Total assets $200,000 $210,000;Liabilities and stockholders? equity;Current;liabilities $;40,000 $;48,000;Long-term;liabilities 140,000 150,000;Stockholders?;equity 20,000 12,000;Total;liabilities and stockholders? equity $200,000 $210,000;(a) Prepare a horizontal analysis of the balance sheet data;for Garcia Corporation using 2013 as a base. (If amount and percentage are a;decrease show the numbers as negative, e.g. -55,000, -20% or (55,000). (20%).;Round percentages to 1 decimal place, e.g. 12.3%.);GARCIA CORPORATION;Condensed Balance Sheets;December 31;2014 2013 Increase;(Decrease) Percentage;Change from 2013;Assets;Current Assets $76,000 $80,000 $;%;Property, Plant;Equipment (net) 100,000 90,000;%;Intangibles 24,000 40,000;%;Total assets $200,000 $210,000 $;%;Liabilities and Stockholders' Equity;Current Liabilities $40,000 $48,000 $;%;Long-term;Liabilities 140,000 150,000;%;Stockholders;Equity 20,000 12,000;%;Total liabilities;and stockholders' equity $200,000 $210,000 $;%;(b) Prepare a vertical analysis of the balance sheet data;for Garcia Corporation in columnar form for 2014. (Round percentages to 0;decimal places, e.g. 12%.);GARCIA CORPORATION;Condensed Balance Sheet;December 31, 2014;Amount Percent;Assets;Current Assets $76,000 %;Property, Plant;and Equipment (net) 100,000 %;Intangibles 24,000 %;Total assets $200,000 %;Liabilities and Stockholders' Equity;Current Liabilities $40,000 %;Long-term;Liabilities 140,000 %;Stockholders;Equity 20,000 %;Total liabilities and stockholders' equity $200,000;%;Don't show me this;message again for the assignment;Click if you would like to Show Work for this question: Open Show Work;Exercise 14-4;The comparative condensed income statements of Hendi;Corporation are shown below.;HENDI CORPORATION;Comparative Condensed Income Statements;For the Years Ended December 31;2014 2013;Net sales $600,000 $500,000;Cost of goods sold 468,000 400,000;Gross profit 132,000 100,000;Operating expenses 60,000 54,000;Net income $;72,000 $;46,000;(a) Prepare a horizontal analysis of the income statement;data for Hendi Corporation using 2013 as a base. (Show the amounts of increase;or decrease.) (If amount and percentage are a decrease show the numbers as;negative, e.g. -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal;place, e.g. 12.3%.);HENDI CORPORATION;Condensed Income Statements;For the Years Ended December 31;Increase;or (Decrease);During 2013;2014 2013 Amount Percentage;Net sales $600,000 $500,000 $;%;Cost of goods sold 468,000 400,000;%;Gross profit 132,000 100,000;%;Operating expenses 60,000 54,000;%;Net income $72,000 $46,000 $;%;(b) Prepare a vertical analysis of the income statement data;for Hendi Corporation in columnar form for both years. (Round percentages to 1;decimal place, e.g. 12.3%.);HENDI CORPORATION;Condensed Income Statements;For the Years Ended December 31;2014 2013;Amount Percent Amount Percent;Net sales $600,000 %;$500,000 %;Cost of goods sold 468,000 %;400,000 %;Gross profit 132,000 %;100,000 %;Operating expenses 60,000 %;54,000 %;Net income $;72,000 %;$;46,000 %;Don't show me this;message again for the assignment;Click if you would like to Show Work for this question: Open Show Work;Exercise 14-13;Maulder Corporation has income from continuing operations of;$290,000 for the year ended December 31, 2014. It also has the following items;(before considering income taxes).;1. An;extraordinary loss of $70,000.;2. A;gain of $35,000 on the discontinuance of a division.;3. A;correction of an error in last year?s financial statements that resulted in a;$25,000 understatement of 2013 net income.;Assume all items are subject to income taxes at a 30% tax;rate.;Prepare an income statement, beginning with income from;continuing operations.;MAULDER CORPORATION;Partial Income Statement;For the Year Ended December 31, 2014;$;$;Don't show me this;message again for the assignment;Click if you would like to Show Work for this question: Open Show Work;Problem 14-6A;The comparative statements of Beulah Company are presented;below.;BEULAH COMPANY;Income Statement;For the Years Ended December 31;2014 2013;Net sales (all on account) $500,000 $420,000;Expenses;Cost of goods sold 315,000 254,000;Selling and;administrative 120,800 114,800;Interest expense 7,500 6,500;Income tax expense 20,000 15,000;Total expenses 463,300 390,300;Net income $;36,700 $;29,700;BEULAH COMPANY;Balance Sheets;December 31;Assets 2014 2013;Current assets;Cash $ 21,000 $ 18,000;Short-term;investments 18,000 15,000;Accounts;receivable (net) 85,000 75,000;Inventory 80,000 60,000;Total current;assets 204,000 168,000;Plant assets (net) 423,000 383,000;Total assets $627,000 $551,000;Liabilities and Stockholders? Equity;Current liabilities;Accounts payable $122,000 $110,000;Income taxes;payable 12,000 11,000;Total current;liabilities 134,000 121,000;Long-term liabilities;Bonds payable 120,000 80,000;Total;liabilities 254,000 201,000;Stockholders? equity;Common stock ($5;par) 150,000 150,000;Retained earnings 223,000 200,000;Total;stockholders? equity 373,000 350,000;Total liabilities and stockholders? equity $627,000 $551,000;Additional data;The common stock recently sold at $19.50 per share.;Compute the following ratios for 2014. (Round Earnings per;share and Acid-test ratio to 2 decimal places, e.g. 1.65, and all others to 1;decimal place, e.g. 6.8 or 6.8%.);(a) Current;ratio;1;(b) Acid-test;ratio;1;(c) Accounts;receivable turnover;times;(d) Inventory;turnover;times;(e) Profit;margin;%;(f) Asset;turnover;times;(g) Return;on assets;%;(h) Return;on common stockholders? equity;%;(i) Earnings;per share $;(j) Price-earnings;ratio;times;(k) Payout;ratio;%;(l) Debt;to total assets;%;(m) Times;interest earned;times;Don't show me this;message again for the assignment;Click if you would like to Show Work for this question: Open Show Work

 

Paper#48670 | Written in 18-Jul-2015

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