p14-3a - Name: Date: Instructor: Course: Managerial...

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FileName: 2b674370acc5b8da5b9cfb740cacd27ad40f4a0f.xls, Tab: Problem P14-3A, Page 1 of 2, 12/28/2011, 19:03:42 Name: Date: Instructor: Course: JUAN VALDEZ CORPORATION Balance Sheets December 31 Assets 2005 2004 2003 Current assets Cash $40,000 $24,000 $20,000 Accounts receivable (net) 120,000 45,000 48,000 Other current assets 80,000 75,000 62,000 Investments 90,000 70,000 50,000 Plant and equipment (net) 603,000 400,000 360,000 Total assets $933,000 $614,000 $540,000 Current liabilities $98,000 $75,000 $70,000 Long-term debt 250,000 75,000 65,000 Common stock, ($10 par) 400,000 340,000 300,000 Retained earnings 185,000 124,000 105,000 Total liabilities and stockholders' equity $933,000 $614,000 $540,000 JUAN VALDEZ CORPORATION Income Statements For the Years Ended December 31 2005 2004 Sales $800,000 $750,000 Less: Sales returns and allowances $40,000 $50,000 Net sales 760,000 700,000 Cost of goods sold 420,000 400,000 Gross profit 340,000 300,000 Operating expenses (including income taxes) 194,000 225,000 Net income 146,000 75,000 Additional information: 1. The market price of Juan Valdez's common stock was $5.00 $3.50 and $2.30 for 2003, 2004, and 2005, respectively. 2. You must compute the dividends paid. All dividends were paid in cash.
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p14-3a - Name: Date: Instructor: Course: Managerial...

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