Some recent financial statements for Smolira Golf, Inc., follow.SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 20192018201920182019AssetsLlabiltles and Owners' EqultyCurrent assetsCurrent liabilities$ 2,198 $ 2,690$ 2,941 $ 2,857 Accounts payable4,72212,658CashNotes payableOtherAccounts recelvable5,69113,6921,7952,206116Inventory99Total$20,321 $22,240Total$ 4,092 $ 5,012$ 14,200 $16,960Long-term debtOwners' equityCommon stock42,500and paid-in surplus$42,500 $Accumulated retained39,769Flxed assets15,699earningsNet plant and82,269$56,170 $ 82,001Total$ 58,199 $equipmentTotal liabilitles and owners'104,241Total assets$76,491 $104,241$ 76,491 $equitySMOLIRA GOLF, INC.2019 Income StatementSales$189,170Cost of goods soldDepreclation127,1035,243$56,8241,340EBITInterest paldTaxable Income$55,484Тахes19,419Net Income$36,065Dividends$ 11,99524,070Retalned earnings Construct the DuPont Identity for Smolira Golf. (Do not round Intermedlate calculationsand round your answers to 2 decimal places, e.g., 32.16. Enter the profit margln andreturn on equlty as a percent.)Profit margin%Total asset tumoverEquity multiplierReturn on equitytimestimes%

Profit Margin = Net Income / Sales x 100. Net Income = $36065 Sales = $189170 Net Margin =…

Answered: lira Golf, Inc., follow. MOLIRA GOLF,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Data from the financial statements of Kroger King and SuperDeal, Inc., are presented below (in millions): Kroger King SuperDeal, Inc. Total liabilities, 2019 $20,261 $13,549 Total liabilities, 2018 18,052 15,023 Total assets, 2019 25,093 16,436 Total assets, 2018 23,257 17,604 Revenue, 2019 76,733 40,851 Net income, 2019 70 393 To the nearest hundredth, what is the 2019 debt-to-total-assets ratio for SuperDeal, Inc.? Select one: a. 4.96 b. 0.21 c. 0.79 d. 4.69
Data from the financial statements of Kroger King and SuperDeal Inc. are presented below (in millions): Kroger King SuperDeal, Inc. Total liabilities, 2019 $18,261 $13,549 Total liabilities, 2018 18,052 15,023 Total assets, 2019 23,093 16,436 Total assets, 2018 23,257 17,604 Revenue, 2019 80,733 40,851 Net income, 2019 520 393 To the nearest hundredth of a percent, what is the 2019 profit margin for Kroger King? Select one: a. 0.30% b. 0.64% c. Not enough information provided d. 0.38%
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 5,298 $ 5,827 Accounts payable $ 3,754 $ 3,986 Accounts receivable 7,707 8,477 Notes payable 3,045 3,318 Inventory 12,150 21,956 Other 152 179 Total $ 25,155 $ 36,260 Total $ 6,951 $ 7,483 Long-term debt $ 24,700 $ 16,000 Owners’ equity Common stock and paid-in surplus $ 40,000 $ 37,000 Fixed assets Accumulated retained earnings 28,805 55,189 Net plant and equipment $ 75,301 $ 79,412 Total $ 68,805 $ 92,189 Total assets $…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 685 $ 917 $ 773 Other assets 2,417 1,924 1,723 Total assets $ 3,102 $ 2,841 $ 2,496 Current liabilities $ 581 $ 816 $ 714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity $ 3,102 $ 2,841 $ 2,496 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,054 $ 2,917 Operating income 300 314 Interest expense 88 69 Net income 203 198 Other data: Average number of common shares outstanding 41.7 47.1 Total dividends paid $ 54.0 $ 52.7…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 685 $ 917 $ 773 Other assets 2,417 1,924 1,723 Total assets $ 3,102 $ 2,841 $ 2,496 Current liabilities $ 581 $ 816 $ 714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity $ 3,102 $ 2,841 $ 2,496 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,054 $ 2,917 Operating income 300 314 Interest expense 88 69 Net income 203 198 Other data: Average number of common shares outstanding 41.7 47.1 Total dividends paid $ 54.0 $ 52.7…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 685 $ 917 $ 773 Other assets 2,417 1,924 1,723 Total assets $ 3,102 $ 2,841 $ 2,496 Current liabilities $ 581 $ 816 $ 714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity $ 3,102 $ 2,841 $ 2,496 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,054 $ 2,917 Operating income 300 314 Interest expense 88 69 Net income 203 198 Other data: Average number of common shares outstanding 41.7 47.1 Total dividends paid $ 54.0 $ 52.7…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 685 $ 917 $ 773 Other assets 2,417 1,924 1,723 Total assets $ 3,102 $ 2,841 $ 2,496 Current liabilities $ 581 $ 816 $ 714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity $ 3,102 $ 2,841 $ 2,496 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) Income statement data: 2020 2019 Sales $ 3,054 $ 2,917 Operating income 300 314 Interest expense 88 69 Net income 203 198 Other data: Average number of common shares outstanding 41.7 47.1 Total dividends paid $ 54.0…
Using the Balance Sheet and Income Statement please calculate the following: Balance Sheet Assets Liabilities and Owner’s Equity 2018 2019 2018 2019 Current Assets Current Liabilities Cash 300 325 Acts Pay 480 400 Accs Rec 275 270 Notes Pay 560 500 Inventory 600 675 Total 1,040 900 Total 1,175 1,270 Long Term Debt 950 1,200 Fixed Assets Net Fixed 2,350 2,875 Owners Equity Preferred Stock 750 845 Retained Earn 785 1,200 Total 1,535 2,045 Total Assets 3,525 4,145 Total Liabilities & OE 3,525 4,145 2019 Income Statement Net Sales 3,456 COGS 1,895 Depreciation 235 EBIT 1,326 Interest 320 Taxable Income 1,006 Taxes 211.26 Net Income 794.74 Dividends 147 Additions to Retained Earnings 647.74…
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,971 $ 2,907 Accounts payable $ 2,193 $ 2,680 Accounts receivable 4,727 5,701 Notes payable 1,790 2,196 12,638 Inventory 13,702 Other 98 115 Total $20,336 $ 22,310 Total $ 4,081 $ 4,991 $ 14,100 $16,860 Long-term debt Owners' equity Common stock 42,000 $42,000 $ and paid-in surplus Accumulated retained earnings 39,696 Fixed assets 15,694 Net plant and equipment $55,539 $ 81,237 Total $ 57,694 $ 81,696 Total assets $ 75,875 $103,547 Total liabilities and owners' equity 103,547 $ 75,875 $SMOLIRA GOLF, INC. 2019 Income Statement 188,970 $ Sales 127,003 Cost of goods sold Depreciation 5,253 EBIT Interest paid $ 56,714 1,350 Taxable income Taxes $55,364 19,377 Net income $35,987 Dividends $ 11,985 24,002 Retained earnings Smolira Golf has 10,000 shares of common…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 679 $ 898 $ 743 Other assets 2,414 1,921 1,720 Total assets $ 3,093 $ 2,819 $ 2,463 Current liabilities $ 563 $ 804 $ 711 Long-term liabilities 1,522 988 833 Stockholders’ equity 1,008 1,027 919 Total liabilities and stockholders' equity $ 3,093 $ 2,819 $ 2,463 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,051 $ 2,914 Operating income 297 311 Interest expense 85 66 Net income 194 189 Other data: Average number of common shares outstanding 41.4 46.8 Total dividends paid $ 51.0 $ 52.4…
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 679 $ 898 $ 743 Other assets 2,414 1,921 1,720 Total assets $ 3,093 $ 2,819 $ 2,463 Current liabilities $ 563 $ 804 $ 711 Long-term liabilities 1,522 988 833 Stockholders’ equity 1,008 1,027 919 Total liabilities and stockholders' equity $ 3,093 $ 2,819 $ 2,463 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,051 $ 2,914 Operating income 297 311 Interest expense 85 66 Net income 194 189 Other data: Average number of common shares outstanding 41.4 46.8 Total dividends paid $ 51.0 $ 52.4…
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC.Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 3,211 $ 3,307 Accounts payable $ 2,153 $ 2,600 Accounts receivable 4,767 5,781 Notes payable 1,750 2,116 Inventory 12,478 13,782 Other 90 107 Total $ 20,456 $ 22,870 Total $ 3,993 $ 4,823 Long-term debt $ 13,400 $ 16,160 Owners’ equity Common stock and paid-in surplus $ 38,000 $ 38,000 Fixed assets Accumulated retained earnings 15,654 39,112 Net plant and equipment $ 50,591 $ 75,225…

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lira Golf, Inc., follow. MOLIRA GOLF, INc. is of December 31, 20 19 Llabi Current llabilitle 857 Accounts pay 5,691 Notes payabl ,692 Other