Evaluate income statement and balance statement, Financial Management

This task must be completed in order from 1 to 11 as identified in both the Income Statement and the Balance Sheet. In addition, all answers must cite relevant supporting formulas used and show all detailed calculations showing the exact steps on how each of the answers were calculated in Microsoft Word format.

The following ratios information was calculated for Jones Furniture Manufacturing for 2010:

                  Profit margin                                                  20%

                  Times interest earned                                12 times

                  Receivables turnover                                  5 times

                  Acid-test ratio                                              1.4 : 1

                  Current ratio                                                2.5 : 1

                  Debt to total assets ratio                                  24%

 

The Jones Furniture Manufacturing  Income Statement and Balance Statement's with the missing information are as follows:

Jones Furniture Manufacturing 

Income Statement

For the Year Ended December 31, 2010

----------------------------------------

Net sales.......................................................................................................................                                        $200,000

Cost of goods sold......................................................................................................                                          100,000

Gross profit..................................................................................................................                                          100,000

Expenses:

        Depreciation expense........................................................................................        $     ?  (5)

        Interest expense..................................................................................................                   5,000

        Selling expenses..................................................................................................                10,000

        Administrative expenses...................................................................................               15,000

                Total expenses............................................................................................                                     ?        (4)

Income before income taxes...................................................................................                                    ?        (2)

        Income tax expense..........................................................................................                                     ?        (3)

Net income..................................................................................................................                                     $    ?  (1)

Posted Date: 3/19/2013 1:08:20 AM | Location : United States







Related Discussions:- Evaluate income statement and balance statement, Assignment Help, Ask Question on Evaluate income statement and balance statement, Get Answer, Expert's Help, Evaluate income statement and balance statement Discussions

Write discussion on Evaluate income statement and balance statement
Your posts are moderated
Related Questions
PAMs are so structured that the repayments resemble traditional mortgages from the lenders' point of view and resemble GPMs from the borrowers' point of view. Thi

Q. Investigate the following functions for both horizontal and vertical asymptotes, x and y-intercepts, and state the domain and range of each and where the function is increasing

What are the characteristics of an efficient market? The term market efficiency denotes to the ease, speed, and cost of trading securities. In an efficient market the securitie

Credit enhancement is a key part of the securitization transaction in structured finance, and is important for credit rating agencies. Credit enhancem

Discuss how a business might limit agency problem between management and creditors

AIM OF FINANCE FUNCTION The fundamental aims of a modern finance function are: Acquiring enough funds when required at lower cost. Proper use of funds in projects w

What is Financing Decision Provision of funds required at proper time is one of theprimary tasks of finance manager. Identification of the sources, deciding whichtypes of fu

The relative change in the yield for each treasury maturity is known as a shift in the yield curve. When the change in the yield for all the maturities is same, t

Q. Just-in-time inventory management processes? Just-in-time (JIT) inventory management processes seek to eliminate any waste that arises in the manufacturing process as a resu

discuss the applicability ofan operating cycle in a poultry business(broilers)