Suppose the following selected condensed data are taken from a recent balance sheet of Bob Evans Farms (in millions of dollars). Cash $ 30.3 Accounts receivable 19.8 Inventory 27.5 Other current assets 28.4 Total current assets $106.0 Total current liabilities $200.0 Compute working capital and the current ratio. (For working capital, enter answer in millions. If answer is negative enter it with a negative sign preceding the number e.g. -15.2 or in parentheses e.g. (15.2). Round current ratio to 2 decimal places, e.g. 0.78 : 1.)
Answers
Answer:
Working Capital = Current Assets - Current Liabilities
Working Capital = $106 million - $200 million
Working Capital = -$94 million
Current Ratio = Current Assets/Current Liabilities
Current Ratio = $106 million / $200 million
Current Ratio = 0.53 : 1
Related Questions
Khloe Company imports gift items from overseas and sells them to gift shops and department stores throughout the United States. Khloe Company provided the following information:
a. The October 31 balance in the cash account is $53,817.
b. All sales are on account. Sales in September were $950,000 and in October were $1,240,000.
c. November sales are expected to be $2,145,000.
d. In Khloe's experience, 70 percent of sales are collected in the month of sale and 28 percent are collected in the month following sale. The remaining credit sales are uncollectible.
e. Khloe purchases all merchandise on account. Purchases in September were $750,000 and in October were $980,000. November purchases are expected to be $2,000,000 as Khloe prepares for the Christmas buying season. Fifteen percent of purchases are paid in the month of purchase, while the remainder is paid in the month following the purchase month.
f. Khloe Company has nine employees who are paid a total of $48,000 per month. Due to timing issues, about 90 percent of total wages are paid in the month earned and the remaining 10 percent are paid in the following month.
g. Rent for Office and warehouse space is $12,300 paid monthly in cash.
h. Utilities average $6,100 per month and are paid in cash.
e. In November, Khloe expects to pay employment taxes of $6,625.
f. Since Khloe imports product from overseas, customs duty and shipping to the central location
g. Of 30 percent Of current monthly purchase cost must be paid in the month of purchase.
h. Other cash expenses for November are expected to be $41,500.
Required:
a. Prepare a cash budget for Khloe Company for the month of November.
b. What if Khloe faced a customs duty and shipping percentage of 35 percent How would that affect the November cash budget?
Answers
Answer:
Khloe Company
a. Khloe Company
Cash Budget for the month of November:
Beginning cash balance $53,817
Cash collections 2,269,120
Cash available $2,322,937
Cash payments:
Purchases $1,133,000
Wages 48,000
Rent expense 12,300
Utilities expense 6,100
Employment taxes 6,625
Customs duty and shipping 600,000
Other expenses 41,500
Total cash payments $1,847,525
Ending cash balance $475,412
b) The ending cash balance will be reduced by $100,000 from $475,412 to $375,412, with the total payments increased to $1,947,525.
Explanation:
a) Data and Calculations:
October 31 cash balance = $53,817
September October November
Sales on account $950,000 $1,240,000 $2,145,000
Cash collections:
70% month of sale $1,501,500
28% month following 767,620
2% uncollectible
Total cash collections for sales $2,269,120
September October November
Credit Purchases $750,000 $980,000 $2,000,000
Cash payments:
15% month of purchase $300,000
85% month following 833,000
Total cash payment for purchases $1,133,000
September October November
Wages Expense $48,000 $48,000 $48,000
Cash payment for wages:
90% month earned $43,200
10% month following 4,800
Total cash payment for wages $48,000
Other monthly cash payments:
Rent expense $12,300
Utilities expense $61,00
Employment taxes $6,625
Customs duty and shipping = $600,000 ($2,000,000 * 30%)
Other expenses $41,500
If customs duty and shipping were 35%
Customs duty and shipping = $700,000 ($2,000,000 * 35%)
Which of the following BEST describes how credit unions affect the national economy?
Answers
Credit union profits are distributed to members in the form of decreased fees, greater savings rates, and lower lending rates.
What do you mean by profits?
Profit is the money left over after paying for company expenditures. Profit is classified into three categories: gross profit, operational profit, and net profit. The gross profit is the greatest. It displays how much money was left over after paying for the products and services offered. The profit margin ratio, like profits, illustrates how much you receive after deducting your expenditures. The distinction between profit and profit margin is that profit margin is calculated as a ratio or percentage. Profits, on the other hand, are just money quantities.
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While conducting a SWOT analysis of an organisation, which question can help management brainstorm for the strengths section of the analysis a. What external changes present interesting possibilities for new products or markets b. What potential actions by competitors pose the biggest challenge c. What necessary skill do the organisation's employees currently lack d. What does the organisation offer that makes it stand out from the other organisations e. What external economic forces can affect the organisation's bottom line
Answers
The question that can help management brainstorm for the strengths section of the SWOT analysis is D. "What does the organization offer that makes it stand out from the other organizations?"
Why is this question good for SWOT Analysis ?This question is designed to identify the unique strengths or advantages that the organization possesses, such as its brand reputation, customer loyalty, intellectual property, or competitive advantages.
By focusing on what sets the organization apart from its competitors, management can identify key strengths that can be leveraged to improve performance, capitalize on market opportunities, and address potential threats. This is important in SWOT Analysis.
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a. What is 15% of 1000?
b. A store is offering a 15% off sale on all TVs. The most popular television is normally priced at $1000. How much money would a customer save on the television during this sale?
Answers
$150
Explanation:
bc its is just that
Answer:
$150
Explanation:
15% of 1000
0.15 x 1000 =
150
Convert the percentage into a decimal and then multiply.
Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $420,000 on sales of $1,500,000. The company’s average operating assets for the year were $1,700,000 and its minimum required rate of return was 15%.
Required:
Compute the company’s residual income for the year.
Answers
Answer: 165,000
Explanation:
To compute the company’s residual income for the year, we can use the formula:
Residual Income = Net Operating Income – (Minimum Required Rate of Return x Average Operating Assets)
Given: Net Operating Income = $420,000 sales = $1,500,000
Average Operating Assets = $1,700,000
Minimum Required Rate of Return = 15% = 0.15
Residual Income = Net Operating Income – (Minimum Required Rate of Return x Average Operating Assets)
Residual Income = $420,000 – (0.15 x $1,700,000)
Residual Income = $420,000 – $255,000
Residual Income = $165,000
Therefore, the company’s residual income for the year was $165,000.
Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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Alice wants to use a three-step process to summarize a text she has read. She starts by determining the most important point. What is her second step? including supporting details identifying key words writing a conclusion putting the main idea into words
Answers
Answer:
D
Explanation:
I took the test in Edgenuity. :)
Answer:
D
Explanation:
Got it right on Edge2021
In 2017, real per capita gross domestic product (GDP) in the United States was roughly $53,357. In 2018, real per capita GDP in the United States was roughly $54,542. Therefore, between 2017 and 2018, the rate of economic growth in the United States was ________.
Answers
Therefore, between 2017 and 2018, the rate of economic growth in the United States was 2.22%.
What is the rate of economic growth?The rate of economic growth or the economic growth rate is the percentage change in the value of real GDP over the periods under comparison.
The real GDP measures the goods and services produced in a nation during a specific period, after removing the effects of inflation.
The economic growth rate measures the comparative health of the U.S. economy over time.
Data and Calculations:2017's Real per Capita Gross Domestic Product = $53,357
2018's Real per Capita Gross Domestic Product = $54,542
Increase in Real per Capital Gross Domestic Product = $1,185 ($54,542 - $53,357)
The rate of economic growth or Economic Growth Rate = 2.22% ($1,185/$53,357 x 100)
Thus, between 2017 and 2018, the rate of economic growth in the United States was 2.22%.
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Which question can best help a consumer assess risk when purchasing insurance? How much must be paid to make a claim? What problems are most likely to happen? What are the possible payouts on a claim? How much are the monthly premiums?
Answers
Answer: the answer is : What problems are most likely to happen?
Explanation:
Answer:
b
Explanation:
Can someone help me with this
Answers
Answer:
Is it account? or business?
Explanation:
Is it account or business??
If the odds in favor of Chris winning the election are 7:6, then what is the probability that
a) Chris wins.
b) Chris does not win.
Answers
Answer:
The odds in favor of an event are defined as the ratio of the probability that the event will happen to the probability that it will not happen. In this case, the odds in favor of Chris winning the election are given as 7:6. This means that for every 7 times Chris wins, he does not win 6 times.
To find the probability that Chris wins (a), we can use this information to set up a proportion: `7/(7+6) = 7/13`. So, the probability that Chris wins is **7/13**.
To find the probability that Chris does not win (b), we can subtract the probability that he wins from 1: `1 - (7/13) = 6/13`. So, the probability that Chris does not win is **6/13**.
Is gender pay gap logical ? If so, kindly explain.
Thanks.
Answers
Answer:
yes (logically but in my opinion no)
Explanation:
The reason why is because some jobs required you to lift heavy stuff and some women can't lift very heavy things.
design an approach that your team would recommend for Joseph and Nicholas to cover one area each that you deem necessary to aid in the planning and controlling functions
Answers
The combines strategic planning, performance measurement, effective communication, and continuous improvement to support Joseph and Nicholas in their planning and controlling functions. It ensures a well-defined direction, data-driven decision-making, collaboration, and a focus on growth and adaptability.
In order to aid in the planning and controlling functions, the following approach can be recommended to Joseph and Nicholas:
1. Establish Clear Objectives and Goals: The first step in planning is to establish clear objectives and goals for the team. It is important to have a clear understanding of what needs to be accomplished and what the team's priorities are.
2. Assign Responsibilities: Assigning specific responsibilities to team members helps to ensure that everyone is working towards a common goal. Joseph and Nicholas should each be assigned to cover one area that is necessary for planning and controlling functions. This will help to ensure that all aspects of the project are covered and that there is no overlap or duplication of efforts.
3. Develop a Schedule: Developing a schedule that outlines the key milestones and deadlines for the project is essential to effective planning and control. This will help to ensure that the project stays on track and that deadlines are met.
4. Monitor Progress: Regularly monitoring progress against the schedule and objectives is necessary to ensure that the project is progressing as planned. This will help to identify any issues or problems that arise and allow for corrective action to be taken.
5. Communicate: Effective communication is critical to the success of any project. Joseph and Nicholas should establish a regular communication schedule to ensure that everyone is up-to-date on the project's progress, any issues or problems that arise, and any changes to the schedule or objectives.
6. Make Adjustments: Finally, it is important to be flexible and make adjustments as needed. If the project is not progressing as planned, adjustments may be necessary to the schedule or objectives to ensure that the project stays on track and that goals are met.
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PLEASE HELP!! Retirement plans-
Under what circumstances is it better to be taxed later(when you retire and draw money from your account) instead of now?
Answers
Answer:
Though retirement may seem far off, saving for it as early as possible will ensure you have enough money to get you through your retirement years. In addition, investing benefits from compounding returns, which will increase your money more over a longer period of time.
The Montgomerys borrowed $107,000 at 7.50% for 30 years to purchase a house. Find the total interest the Montomerys will pay if they pay the loan on schedule. Click the icon to view the monthly payment of principal and interest table. OA. $162,254.80 OB. $149, 158.00 OC. $177,662.80 OD. $168,803.20
Answers
The total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
To find the total interest the Montgomerys will pay over the course of the loan, we can calculate the monthly payment and then subtract the principal borrowed.
First, we need to calculate the monthly payment using the loan amount, interest rate, and loan term. We can use the formula for calculating the monthly payment on an amortizing loan:
Monthly payment =\(P * r * (1 + r)^n / ((1 + r)^n - 1)\)
Where:
P = Principal amount borrowed = $107,000
r = Monthly interest rate = Annual interest rate / 12 = 7.50% / 12 = 0.625%
n = Total number of payments = 30 years * 12 months/year = 360 months
Plugging in the values, we have:
Monthly payment = $107,000 * 0.00625 * (1 + 0.00625)^360 / ((1 + 0.00625)^360 - 1)
≈ $750.20
The monthly payment of principal and interest is approximately $750.20.
To find the total interest paid, we can multiply the monthly payment by the total number of payments and subtract the principal borrowed:
Total interest paid = (Monthly payment * Total number of payments) - Principal borrowed
= ($750.20 * 360) - $107,000
≈ $270,072 - $107,000
≈ $163,072
Therefore, the total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
None of the provided answer options match the calculated value. However, based on the calculation, the closest option is OA. $162,254.80.
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the HR plan for computer services international identifies that some positions will be hard to fill because they require skills that are in high demand how can that company prepare to meet this challenge?
Answers
Offer competitive pay, cultivate a great employer brand, collaborate with educational institutions, and give current employees the chance to grow professionally.
What is a good illustration of a brand development plan?Our joint campaign with Dreams to introduce the Revived mattress line is an excellent illustration of this tactic. This occurs when a company aims to increase its market share by introducing goods or services under an already-established brand name in a new market. A very successful expansion of the Disney brand is, for instance, Disneyland.
Why is having a strong brand important?Improved recognition, trust, and connectedness are advantages of strong brand values. Brand values that are memorable increase recognition. Consistency in branding is essential.
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When searching for information on a potential employer, you should look in the following places: Responses Occupational Outlook Handbook Occupational Outlook Handbook local library local library company’s Web site company’s Web site Chamber of Commerce Chamber of Commerce
Answers
When conducting research on a potential employer, there are several places where you can look for information. One of the first places to start is the company's official website, as it will provide you with information on the company's history, products or services, mission, and values.
You can also check out their social media presence to see how they engage with their customers, partners, and employees.
Another useful resource is the Occupational Outlook Handbook, which can provide you with information on job descriptions, salary expectations, and job outlooks for various occupations. Additionally, you can visit your local library to access business directories, industry reports, and other relevant publications. You may also consider reaching out to your local Chamber of Commerce to gather information on the company's community involvement, reputation, and overall performance. You can also search for reviews and ratings on job search websites such as Glassdoor, Indeed, and LinkedIn. By gathering information from these sources, you can gain a better understanding of the company's culture, values, and goals, and determine whether it is a good fit for your career aspirations.
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Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,
Answers
Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,: The opportunity cost of 1 watch is 3 rings.
What is opportunity cost?Opportunity cost can be defined as the way in which a person tend to forgone others alternative as a result of choosing an alternatives .
Example of opportunity cost is when a student choose to forgone the choice of watching a movies because the student want to read for his/her examination.
Now let find the opportunity cost;
Opportunity cost = 12 rings / 4 watches per hour
Opportunity cost = 3 rings
Therefore the opportunity cost of 1 watch is 3 rings.
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Which of these standard forms is used to document an agreement between a seller and a listing broker to cease marketing a property?
a. Cancellation of Listing (Modification of Terms)
b. Buyer and broker (Buyer and salesperson)
c.Chimney/fireplace (foundation)
d. Allows you to specialize (Gives you broad experience)
Answers
The a. Cancellation of Listing (Modification of Terms) is the standard forms that is used to document an agreement between a seller and a listing broker to cease marketing a property.
The Cancellation of Listing (Modification of Terms) is an agreement between a seller and a listing broker to cease marketing a property. This form is used to document the agreement and outlines the terms and conditions of the cancellation.
It is important for both the seller and the listing broker to understand the details of the agreement to ensure their rights and obligations are protected. This form can be customized to the unique needs of the parties involved and should be reviewed carefully prior to signing.
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There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Lorenzo: $35 Gilberto: $50 Juanita: $40 Neha: $25 Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair
Answers
Based on efficiency, the businesses that should cut hair are the A and C; moreover, to meet the demand, each firm will need to offer at least two haircuts.
The supply of a product or the units of a product that is offered to potential customers should always meet the number of real customers. In the same way, the price of the product should meet the price customers are willing to pay.
In this context, the best is that only firm A and C cut hair, this is because their prices per cut ($25 and $30) match the consumers' willingness to pay this includes Lorenzo ($35), Gilberto ($50), Juanita ($40) and Neha ($25).
Firm A can cut Neha's and Lorenzo's hairFirm C can cut Gilberto's and Juanita's hairMoreover, this implies each firm needs to do at least 2 haircuts to cover all the possible customers.
In the case of firms B and D, the price per cut is high ($40 - $45). Based on this, they should not cut hair as only a few customers can pay for this service, and this would be inefficient.
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Accounts details $
Purchases 74,400
Sales 141,600
Return inwards 4,900
Sundry expenses 370
Freight charges 6,240
Motor vehicle expenses 7,250
Rent and Rates 5,720
Wages 19,600
Bank Loan interest 300
Bank Loan 6,000
Accounts receivable 15,000
Accounts payable 6,050
Inventory as at 1 January 2014 8,540
Equipment 5,800
Motor Vehicle 26,400
Drawings 12,000
Capital 35,700
Cash at Bank 2,830
Additional information:
i. Closing inventory at 31 December 2014 was valued at $10,750.
ii. A provision for doubtful debts of 3% of accounts receivable is to be made. (450)
iii. The rent and rates amount given above includes rent of $900 prepaid till 31 March 2015.
iv. Interest on the loan is at the rate of 10% per annum. (30)
v. Motor vehicles are to be depreciated by 20% per annum. (5280)
REQUIRED:
a) Prepare the Trial Balance based on the information given in the above table (Ignore the additional information when creating the Trial balance).
b) Prepare the Statement of Comprehensive Income and Statement of Financial Position for the year ended 31st December, 2014 (include the additional information given in your question).
solution
Answers
Answer:
a) Trial Balance as at 31st December, 2014:
Account Debit Credit
Purchases 74,400.00
Sales 141,600.00
Return inwards 4,900.00
Sundry expenses 370.00
Freight charges 6,240.00
Motor vehicle expenses 7,250.00
Rent and rates 5,720.00
Wages 19,600.00
Bank Loan interest 300.00
Bank Loan 6,000.00
Accounts receivable 15,000.00
Accounts payable 6,050.00
Inventory as at 01/01/14 8,540.00
Equipment 5,800.00
Motor Vehicle 26,400.00
Drawings 12,000.00
Capital 35,700.00
Cash at Bank 2,830.00
Total 224,350.00 224,350.00
b) Statement of Comprehensive Income for the year ended 31st December, 2014:
Particulars Amount ($)
Sales 141,600.00
Less: Return inwards (4,900.00)
Net Sales 136,700.00
Cost of Sales 74,400.00
Gross Profit 62,300.00
Less: Sundry expenses (370.00)
Less: Freight charges (6,240.00)
Less: Motor vehicle expenses (7,250.00)
Less: Rent and rates (5,720.00)
Less: Wages (19,600.00)
Operating Profit 23,120.00
Less: Bank Loan Interest (300.00)
Net Profit 22,820.00
Statement of Financial Position as at 31st December, 2014:
Particulars Amount ($)
Current Assets
Inventory 10,750.00
Accounts receivable 15,000.00
Prepaid Rent 900.00
Cash at Bank 2,830.00
Total Current Assets 29,480.00
Non-Current Assets
Equipment 5,800.00
Motor Vehicle 21,120.00
Less: Accumulated Depreciation (5,280.00)
Net Non-Current Assets 21,640.00
Total Assets 51,120.00
Current Liabilities
Accounts payable 6,050.00
Bank Loan 6,000.00
Total Current Liabilities 12,050.00
Net Assets 39,070.00
Equity
Capital 35,700.00
Add: Net Profit for the Year 22,820.00
Total Equity 58,520.00
Total Liabilities and Equity 51,120.00
Explanation:
In the context of automation strategy, what is a Center of Excellence?
Answers
5.6 Last month Quick Industries produced 900 units. This month they produced 1,264 units. What is the rate of change in production? a. 29.8% b. 32.8% c. 40.4% d. 60%
Answers
Answer: C. 40.4%
Explanation:
To find the rate of change in production, we can use the following formula:
Rate of change = (New value - Old value) / Old value * 100
Where,
Old value = Production of last month = 900
New value = Production of this month = 1264
Substituting the values in the formula,
Rate of change = (1264 - 900) / 900 * 100= 364 / 900 * 100= 0.404 * 100= 40.4%
Therefore, the rate of change in production is 40.4%, which is an option (c). I hope that this answer has helped you!
Answer:
The correct answer is C.
Explanation:
The rate of change in production is: (1264 - 900) / 900 = 0.404 or 40.4%. So, the correct answer is c. 40.4%
Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 states that its purpose, in part, is to require that real estate appraisals used in connection with federally related transactions be performed ______.
Answers
Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires real estate appraisals used in federal government transactions to be completed in writing and to uniform standards.
What exactly is the 1989 Enforcement Act?The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) is a law passed in 1989 in response to the savings and loan crisis of the late 1980s that revised the federal government agency structure and rules governing the United States savings and loan banking system and the real estate appraisal industry. The following are some of the major changes brought about by the law:
Regulations to ensure that real estate appraisals are properly performed. This includes the need for complete and accurate documentation, as well as training for appraisers and their supervisors.The Resolution Trust Corp. was established temporarily to resolve the status of the nation's failed savings and loan institutions.The Federal Savings and Loan Insurance Corporation was abolished, and two funds of the Federal Deposit Insurance Corporation were established: the Savings Association Insurance Fund (SAIF) to cover S&Ls, and the Bank Insurance Fund (BIF) to cover banks.The Federal Home Loan Bank Board was abolished, and two new agencies were established to replace it: the Federal Housing Finance Board (FHFB) and the Office of Thrift Supervision (OTS).Learn more about the Enforcement Act with the help of the given link:
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How does the federal government's fiscal policy affect the U.S. economy?(1 point)
a. The House and Senate pass new laws and regulations that can make changes to wealth distribution.
b.Members of the federal government consult with banks to change interest rates and availability of lending.
c. The President issues executive orders to influence changes to consumer and business spending.
d.The federal government implements tax and spending measures that affect employment, economic growth, and inflation.
Answers
Answer:
I think its d
Explanation:
Want my number I bored
The Fiscal Policy of the Federal government implements tax and spending measures that affect employment, economic growth, and inflation. Option d is correct.
What is Fiscal Policy?The utilisation of government spending and tax policies to impact economic conditions, particularly macroeconomic variables such as aggregate demand for commodities, employment, inflation, and economic development, is referred to as fiscal policy.
The federal government affect the economy of the United States by Enforces tax and spending policies that have an impact on employment, GDP, and inflation.
Therefore, option d is correct.
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Comparative financial statements for Heritage Antiquing Services for the fiscal year ending December 31 appear below. The company did not issue any new common or preferred stock during the year. A total of 500 thousand shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75. The market value of the company’s common stock at the end of the year was $27. All of the company’s sales are on account.Heritage Antiquing ServicesComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,170 $ 1,320 Accounts receivable, net 10,900 6,700 Inventory 12,800 10,900 Prepaid expenses 660 670 Total current assets 25,530 19,590 Property and equipment: Land 9,600 9,600 Buildings and equipment, net 39,548 39,469 Total property and equipment 49,148 49,069 Total assets $ 74,678 $ 68,659 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 19,300 $ 18,600 Accrued payables 940 700 Notes payable, short term 160 160 Total current liabilities 20,400 19,460 Long-term liabilities: Bonds payable 9,100 9,100 Total liabilities 29,500 28,560 Stockholders' equity: Preferred stock 1,000 1,000 Common stock 500 500 Additional paid-in capital 4,000 4,000 Total paid-in capital 5,500 5,500 Retained earnings 39,678 34,599 Total stockholders' equity 45,178 40,099 Total liabilities and stockholders' equity $ 74,678 $ 68,659 Heritage Antiquing ServicesComparative Income Statement and Reconciliation(dollars in thousands) This Year Last Year Sales $ 70,000 $ 65,000 Cost of goods sold 42,000 40,000 Gross margin 28,000 25,000 Selling and administrative expenses: Selling expenses 11,100 10,300 Administrative expenses 6,800 6,400 Total selling and administrative expenses 17,900 16,700 Net operating income 10,100 8,300 Interest expense 910 910 Net income before taxes 9,190 7,390 Income taxes 3,676 2,956 Net income 5,514 4,434 Dividends to preferred stockholders 60 400 Net income remaining for common stockholders 5,454 4,034 Dividends to common stockholders 375 375 Net income added to retained earnings 5,079 3,659 Retained earnings, beginning of year 34,599 30,940 Retained earnings, end of year $ 39,678 $ 34,599 Required:Compute the following financial ratios for common stockholders for this year:1. Gross margin percentage. (Round your answer to 1 decimal place.) Gross margin percentage %2. Earnings per share of common stock. (Round your answer to 2 decimal places.) Earnings per share $ 3. Price-earnings ratio. (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) Price-earnings ratio times4. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) Dividend payout ratio %5. Dividend yield ratio. (Round your answer to 1 decimal place.) Dividend yield ratio %6. Return on total assets. (Round your intermediate calculations to whole numbers and final answer to 1 decimal place.) Return on total assets %7. Return on common stockholders' equity. (Round your intermediate calculations to whole numbers and final answer to 1 decimal place.) Return on common stockholders' equity %8. Book value per share. (Round your answer to 2 decimal places.) Book value per share $
Answers
Answer:
1) Gross margin percentage = Gross margin / Net Sales
= $28,000 / $70,000
= 0.40
= 40%
2) EPS = Net earning available to common stockholders / Number of common stocks
EPS = $5,454 / 500 shares
EPS = 10.91
3) Price earning ratio = Market value / EPS
Price earning ratio = $27 / 10.91
Price earning ratio = 2.48
4) Dividend payout ratio = $375 / $5,454
= 0.068
= 6.9%
5) Dividend yield ratio = Dividend per share / Current price
= 0.75 / $27
= 0.02777778
= 2.8%
6) Return on total asset = Net income / Average total asset
= $5,514 / {($74,678 + $68,659) / 2}
= $5,514 / $71668.5
= 0.0769376
= 7.7%
7) Return on common stock holder equity = Net income / Average common stockholder equity
= $5,514 /{ {($45,178 - $1,000) + ($40,099 - $1,000)} / 2}
= $5,514 /{($44,178) + ($39,099) / 2}
= $5,514 / $41638.5
= 0.13242552
= 13.2%
8)Book value per share = Common stockholder equity / Number of common stock equity
= $44,178/ 500
= $88.36
The violation of a material warranty or other material provision of a policy allows
Answers
For example, if a homeowner's insurance policy includes a material warranty that the home has a functioning smoke detector system, but the insured party intentionally disables the smoke detectors, this could be considered a violation of the material warranty. If a fire were to occur in the home and cause significant damage, the insurer may be able to deny coverage or cancel the policy due to the violation of the material warranty.
Similarly, if a business liability insurance policy includes a material provision that the insured party must maintain a certain level of safety standards or risk management practices, but the insured party fails to do so, this could be considered a violation of the material provision. If a liability claim is made against the business and it is found that the failure to maintain safety standards or risk management practices contributed to the claim, the insurer may be able to deny coverage or cancel the policy.
Should medical schools be free?
Answers
Answer:It depends
Explanation: Medical schools can't be free so that the quality is not lowered. It can be subsidized except if there is a reliable funding in place.
Help! I need to match the type of information with the section of the business plan it fits in.
Answers
Suppliers who provide the goods and services your business needs to operate
Why is it so important to do competitive analyses?The objective of a competition analysis is to uncover any market gaps and to comprehend your competitors' advantages and disadvantages in comparison to your own. An essential part of any business strategy is the competitor analysis because it will help you refine your own.
A financial analysis is exactly what?Financial analysis is the word used to describe an assessment of the viability, stability, and profitability of a project, a sub-project, or a firm. It is completed by professionals that compile reports utilizing ratios and other approaches, utilizing information from financial statements and other reports.
How will your business stand out from the competition in terms of both products and services?- Goals and StrategyMission Statement- Oragnizationsuppliers that your business uses to create its goods- Product and servicesThe sum of money required to launch the business- Funding request An overview of your rival- Competitive AnalysisYour advertising plan- Marketing and SalesThe company's financial history- Financial AnalysisThe outline of the requirements and preferences of your potential clients- Market Analysisa list of the company's departments- Executive SummaryLearn more about Financial analysis: https://brainly.com/question/14234253
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Universal Claims Processors processes insurance claims for large national
insurance companies. Most claim processing is done by a large pool of
computer operators, some of whom are permanent and some of whom are
temporary. A permanent operator can process 16 claims per day, whereas a
temporary operator can process 12 per day, and on average the company
processes at least 450 claims each day. The company has 40 computer
workstations. A permanent operator generates about 0.5 claim with errors each
day, whereas a temporary operator average about 1.4 defective claims per day.
The company wants to limit claims with errors to 25 per day. A permanent
operator is paid $64 per day, and a temporary operator is paid $42 per day.
The company wants to determine the number of permanent and temporary
operators to hire to minimise costs.
a) Formulate a linear programming model for this problem.
b) Solve this model by using graphical analysis.
Answers
The optimal solution is to hire 22 permanent operators and 19 temporary operators, with a total cost of $2272.50.
a) Formulating the linear programming model:
Let x represent the number of full-time employees and y represent the number of temporary employees to be hired.
The objective function is to minimize the cost of hiring operators, which is given by:
Cost = 64x + 42y
The constraints are:
The total number of claims processed per day cannot be less than 450:
16x + 12y ≥ 450
The total number of defective claims per day cannot be more than 25:
0.5x + 1.4y ≤ 25
The number of workstations available is limited to 40:
x + y ≤ 40
The number of operators cannot be negative:
x ≥ 0, y ≥ 0
Following are some ways to express the linear programming model:
Minimize Cost = 64x + 42y
Subject to:
16x + 12y ≥ 450
0.5x + 1.4y ≤ 25
x + y ≤ 40
x ≥ 0, y ≥ 0
b) Solving the model using graphical analysis:
We can graph the constraints to find the feasible region and then use the corner-point method to find the optimal solution.
First, we graph the constraint 16x + 12y ≥ 450:
12y ≥ -16x + 450
y ≥ (-4/3)x + 37.5
Next, we graph the constraint 0.5x + 1.4y ≤ 25:
1.4y ≤ -0.5x + 25
y ≤ (-5/14)x + 25/1.4
y ≤ (-5/14)x + 17.86
Finally, we graph the constraint x + y ≤ 40:
y ≤ -x + 40
Combining these three constraints, we get the following feasible region:
16x + 12y = 450
y ≤ (-4/3)x + 37.5
y ≤ (-5/14)x + 17.86
y ≤ -x + 40
We now evaluate the objective function at the corner points of the feasible region to find the optimal solution.
The corner points are:
(0, 25/1.4) = (0, 17.86)
(0, 37.5)
(21.875, 18.75)
(27.27, 12.73)
(28.125, 11.25)
When we assess the objective function at these intervals, we obtain:
(0, 17.86): Cost = 42y = 42(17.86) = 750.12
(0, 37.5): Cost = 42y = 42(37.5) = 1575
(21.875, 18.75): Cost = 64x + 42y = 64(21.875) + 42(18.75) = 2272.5
(27.27, 12.73): Cost = 64x + 42y = 64(27.27) + 42(12.73) = 2536.08
(28.125, 11.25): Cost = 64x + 42y = 64(28.125) + 42(11.25) = 2587.5
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