Exam 14: Analysis and Interpretation of Financial Statements

During 2019, Koala Corporation had 160,000 shares of $15 par value common stock and 30,000 shares of 5%, $60 par value preferred stock outstanding. Koala Corporation's 2019 net income is $1,440,000. Compute the primary earnings per share for 2019.

Use the following selected 2019 balance sheet and income statement information for Homer Glen Supply Co. (in millions) to compute asset turnover (AT) to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit

At December 31, 2019, Jamie, Inc. had 500,000 shares of common stock issued and outstanding, 250,000 of which had been issued and outstanding throughout the year and 250,000 of which were issued on July 1, 2019. Net income for the year ended December 31, 2019, was $2,385,000. What is Jamie's 2019 earnings per common share (to the nearest cent)?

At December 31, 2019, Van Devender's price-earnings ratio was 13.4. For 2019, Van Devender's net income was $660,000, its earnings per share was $7.00, and its annual dividend per share was $4.00. What was the per share market price of Van Devender's stock at December 31, 2019?

During 2019, Fabulous Shoe Corporation had 75,000 shares of $10 par value common stock and 10,000 shares of 6%, $50 par value preferred stock outstanding. Fabulous Shoe Corporation's 2019 net income is $798,000. Compute the earnings per share for 2019.

World Airlines has no preferred stock outstanding. The company had 50,000 shares of common stock outstanding on January 1, 2019 and issued 20,000 additional shares on April 1. If World's net income was $1,077,000, the company should report earnings per share of (to the nearest cent):

Coconut Inc. has net income for 2019 of $272,000. At January 1, 2019, the company had outstanding 37,000 shares of $20 par value common stock and 5,000 shares of 8%, $100 par value cumulative preferred stock. On October 1, 2019, an additional 12,000 shares of common stock were issued. What is the earnings per share for 2019 (to the nearest cent)?

Ben Enterprises reported sales revenue totaling $1,344,000, $1,340,000, and $3,525,000 in the years, 2018, 2019, and 2020, respectively. Performing trend analysis, with 2018 serving as the base year, what is the percentage for 2020?

Begeman Company's net income was $225,000 for 2018, $243,750 for 2019, and $293,160 for 2020. Assume trend percentages for net income over the three-year period are computed with 2018 serving as the base year. The trend percentage for 2020's net income is:

Use the following selected 2019 balance sheet and income statement information for Life Improvements Co. (in millions) to compute the gross profit percentage to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit

During 2019, Homewood Company had 50,000 shares of $30 par value common stock and 7,000 shares of 8%, $90 par value convertible preferred stock outstanding. Homewood Company's 2019 net income was $1,350,000. Compute earnings per share for 2019.

Use the following selected 2019 balance sheet and income statement information for Homer Glen Supply Co. (in millions) to compute the gross profit percentage to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit

Selected recent balance sheet and income statement information for Shannon & Sisters Corporation follows: (in millions) 2019 2018 Average inventory Average accounts receivable Average accounts payable Sales Cost of goods sold 175,048 179,398 a. Calculate accounts receivable turnover for 2019 and 2018. Has it improved during the year or worsened? b. Calculate inventory turnover for 2019 and 2018. Has it improved during the year or worsened?

At December 31, 2019, Gevas Company has total assets of $3,000,000, total liabilities of $450,000, and total owner's equity of $2,550,000. At December 31, 2019, Gevas debt-to-equity ratio is:

Listed below are five items or sections that may be found in a multiple-step income statement. Place the numbers 1 through 5 in to indicate the sequence of these items or sections in the income statement (with 1 assigned to the first item or section, and so on). -Gross profit

Determining gross profit is the first step in a multiple-step income statement for a merchandising firm.

At December 31, 2019, David Bash Company has total assets of $1,000,000, total liabilities of $720,000, and total owner's equity of $280,000. At December 31, 2019, David Bash Company's debt-to-equity ratio is:

On the income statement of a merchandising company, interest income and interest expense are reported:

Party, Inc. has no preferred stock outstanding. The company had 40,000 shares of common stock outstanding on January 1, 2019 and issued 12,000 additional shares on May 1. If Party's net income was $200,000, the company should report earnings per share of (to the nearest cent):

The following is selected balance sheet and income statement information for Mario Company. Current Assets Gross Profit on Sales Net Sales Net Income Average Total Assets Average Common Stockholders' Equity 81 \ 48,06 \ 200,680 \ 450,009 \ 45,216 \ 273,710 \ 151,668 Compute the following ratios: a. Gross profit percentage b. Return on sales c. Asset turnover d. Return on assets e. Return on common stockholders' equity (Mario Company has no preferred stock)