Business, 27.05.2020 23:58 Kjcampbell2

Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement 2017 Sales $ 5,730,000 Cost of goods sold 3,020,000 Depreciation 299,200 Selling & admin. expenses 1,602,000 EBIT $ 808,800 Interest expense 170,000 Taxable income $ 638,800 Taxes 289,300 Net income $ 349,500 Balance Sheet, Year-End 2017 2016 Assets Cash $ 42,600 $ 85,000 Accounts receivable 600,000 1,474,300 Inventory 445,500 1,025,500 Total current assets $ 1,088,100 $ 2,584,800 Fixed assets 2,861,000 6,043,000 Total assets $ 3,949,100 $ 8,627,800 Liabilities and Stockholders' Equity Accounts payable $ 316,400 $ 1,042,000 Short-term debt 498,000 1,279,500 Total current liabilities $ 814,400 $ 2,321,500 Long-term bonds 1,854,400 5,115,500 Total liabilities $ 2,668,800 $ 7,437,000 Common stock $ 311,700 $ 311,700 Retained earnings 968,600 879,100 Total stockholders' equity $ 1,280,300 $ 1,190,800 Total liabilities and stockholders' equity $ 3,949,100 $ 8,627,800

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 09:40

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Answers: 1

Answer

Business, 22.06.2019 18:50

Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)

Answers: 3

Answer

Business, 22.06.2019 22:00

Gyou are in charge of making the work schedule for the next two weeks. typically this is not a difficult task as you work at a routine 8am – 5pm company. however, over the next two weeks you are required to schedule someone to be in the office each saturday. after contemplating this for a few days you make the schedule and assignments. before posting the schedule for everyone you decide that it is a good idea to meet personally with the two people you have scheduled to work the weekend. what do you say to them? what is your desired outcome?

Answers: 3

Answer

Business, 23.06.2019 01:30

Vortex company operates a retail store with two departments. information about those departments follows. department a department b sales $ 800,000 $ 450,000 cost of goods sold 497,000 291,000 direct expenses salaries 125,000 88,000 insurance 20,000 10,000 utilities 24,000 14,000 depreciation 21,000 12,000 maintenance 7,000 5,000 the company also incurred the following indirect costs. salaries $36,000 insurance 6,000 depreciation 15,000 office expenses 50,000 indirect costs are allocated as follows: salaries on the basis of sales; insurance and depreciation on the basis of square footage; and office expenses on the basis of number of employees. additional information about the departments follows. department square footage number of employees a 28,000 75 b 12,000 50 required: 1. determine the departmental contribution to overhead and the departmental net income for department a and department b.

Answers: 2

Answer

You know the right answer?

Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 36...

Questions