Evaluate income statement and balance statement, Financial Management

Assignment Help:

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)


Related Discussions:- Evaluate income statement and balance statement

Calculate the portfolio weight, Assume Intel's stock has an expected return...

Assume Intel's stock has an expected return of 26% and a volatility of 50%, while Coca-Cola's has an expected return of 6% and volatility of 25%. If these two stocks were perfectly

Why use the modified du pont system to calculate roe, Why would an analyst ...

Why would an analyst use the Modified Du Pont system to calculate ROE when ROE may be calculated more simply? Explain. In fact, an analyst would not use the Modified Du Pont equ

Operating cycle, application of the operating cycle to a vegetable company

application of the operating cycle to a vegetable company

Concept of yield spreads, The Central Bank is an authority responsible for ...

The Central Bank is an authority responsible for monetary policy of its country. It regulates money supply and credit, issues currency, and manages exchange rate.

Calculate the net investment of the firm, Problem: i) Assume a firm bu...

Problem: i) Assume a firm buys a new tooling machine for Rs 2000,000, installation costs net of taxes are Rs 300,000. An existing asset has a book value of Rs 400,000 and the

Cross-sector analysis, Cross-Sector Analysis: The growth of a country d...

Cross-Sector Analysis: The growth of a country depends upon how fast a country can adapt to deregulation and internationalization. Deregulation and internationalization put com

Display profit diagrams for long stock and for short stock, Question: (...

Question: (a) A stock currently sells for $80 and a put option with an exercise price of $80 currently sells for $2. Find the percentage gain to an investor in the common stock

Define long run economic profit will be zero, Why do firms enter an industr...

Why do firms enter an industry when they know that in the long run economic profit will be zero? Firms enter an industry while they suppose to earn economic profit.  These shor

Buying and selling securities, Buying and Selling Securities One of the k...

Buying and Selling Securities One of the key features that may occur while investing in financial markets is that sometimes investors overlook the essential factors they should c

Explain term financial intermediaries, Financial intermediaries Financi...

Financial intermediaries Financial intermediaries are significant to the efficient functioning of the financial markets as they act to bring the borrowers/companies and lenders

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd