Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A comparative balance sheet and an income statement for Blankley Company are given below:
Blankley CompanyIncome Statement(dollars in millions)Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,700Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,540Gross margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,160Selling and administrative expenses . . . . . . . . . . . . . $ 880Net operating income . . . . . . . . . . . . . . . . . . . . . . . . $ 280Non operating items: Gain on sale of equipment . . . . $ 2Income before taxes . . . . . . . . . . . . . . . . . . . . . . . . . . $ 282Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 112Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 170
Blankley also provided the following information:
1. The company sold equipment that had an original cost of $12 million and accumulated depreciation of $7 million. The cash proceeds from the sale were $7 million. The gain on the sale was $2 million.2. The company did not issue any new bonds during the year.3. The company paid a cash dividend during the year.4. The company did not complete any common stock transactions during the year.
Required:
1. Using the indirect method, prepare a statement of cash flows for the year.2. Assume that Blankley had sales of $3,900, net income of $190, and net cash provided by operating activities of $160 in the prior year (all numbers are stated in millions). Prepare a memo that summarizes your interpretations of Blankley's financial performance.
The operating expense budget is based on the.
stan sewell paid 50000 for a franchise that entitled him to market software programs in the countries of the european
Discuss how a budget could help you personally or your organization accomplish the objectives of long range plan developed for you personally or for your organization.
1.Chuck s Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment.
How many autoimmunity tests per year will have to be performed on the array machine to break even and given the present volume of tests, would there be an annual net contribution and, if so, how much?
give the following cost data costs per unit labor . 4 materials .5 fixed cost . 12000 determine the break even point
GrandSlam, Inc., incurred the following costs during March:
Vargo Company makes two distinct products with the following information available for each.
Write a memo to the budget managers in an organization, assuming you are the CEO. Your memo should direct budget managers not to utilize this approach, but also offer a logical rationale, and perhaps an alternative solution.
Evaluate the cost of the raw materials used in production during the year - accounting records of Karlana Corporation for the just-completed year.
Woh Che Co. has four departments: materials, personnel, manufacturing, and packaging. In a recent month, the four departments incurred three shared indirect expenses.
Click on The First Balanced Scorecard and read the section on How the First Scorecard Became Balanced, What was the conflict between Jerry (the chief operating officer) and Art? And how was it resolved?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd