Recalculate the companys net income with the unusual gain

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Reference no: EM131838452

Question 1 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for cost of goods sold? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$144,295
Cost of goods sold	$62,529
Salaries expense	$6,578
Tax expense	$6,673
Net income	$14,593
Total liabilities	$22,297
Total assets	$55,278
Cash flow from operations	$25,271

Question 2 In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $32,000, leaving net income of $68,000. During the year it sold a warehouse with a net book value of $9,736 for $20,347; the resulting gain or loss on the sale was included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.

Question 3 : In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $35,000, leaving net income of $65,000. During the year it sold a warehouse with a net book value of $17,972 for $13,374; the resulting gain or loss on the sale had been included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.

Question 4 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for salaries expense? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$93,450
Cost of goods sold	$57,497
Salaries expense	$11,666
Tax expense	$6,331
Net income	$15,162
Total liabilities	$29,676
Total assets	$57,321
Cash flow from operations	$25,561

Question 5 : At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and shareholders' equity of $90,000. For the year, Execon Company earned net income of $99,053 and declared cash dividends of $36,849. At the end of the year, the company had total assets of $250,036 and its shareholders' equity was at $149,993. At the end of the year, Execon Corporation had total liabilities of ________.

Question 6 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accrued expenses? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$16,715
Cost of goods sold	$11,213
Salaries expense	$3,697
Tax expense	$1,610
Net income	$1,262
Cash	$121
Accounts receivable	$596
Inventory	$301
Net fixed assets	$2,828
Total assets	$6,461
Accounts payable	$302
Accrued expenses	$625
Long-term debt	$1,462
Total liabilities	$4,386
Cash flow from operations	$2,878

Question 7 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accounts receivable? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$15,464
Cost of goods sold	$11,984
Salaries expense	$3,695
Tax expense	$1,849
Net income	$1,305
Cash	$120
Accounts receivable	$414
Inventory	$384
Net fixed assets	$2,204
Total assets	$8,452
Accounts payable	$343
Accrued expenses	$241
Long-term debt	$1,414
Total liabilities	$4,477
Cash flow from operations	$2,995

Question 8 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for inventory? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$18,080
Cost of goods sold	$9,808
Salaries expense	$3,876
Tax expense	$1,982
Net income	$1,742
Cash	$113
Accounts receivable	$523
Inventory	$541
Net fixed assets	$2,078
Total assets	$6,059
Accounts payable	$328
Accrued expenses	$307
Long-term debt	$1,226
Total liabilities	$4,180
Cash flow from operations	$2,626

Question 9 : At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and total shareholders' equity of $90,000m which included retained earnings of $69,753. For the year, Execon Company earned net income of $71,095, and at the end of the year it reported total assets of $271,579 and retained earnings of $107,797. For the year, how much did Execon pay in cash dividends?

Question 10 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for long-term debt? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$19,170
Cost of goods sold	$11,543
Salaries expense	$3,883
Tax expense	$1,532
Net income	$1,208
Cash	$180
Accounts receivable	$519
Inventory	$444
Net fixed assets	$2,532
Total assets	$7,519
Accounts payable	$300
Accrued expenses	$323
Long-term debt	$1,469
Total liabilities	$4,747
Cash flow from operations	$3,257

Reference no: EM131838452

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