I-16.01 Problem

I-16.01 Problem - $ 930,000 $ STOCKHOLDERS' EQUITY Common...

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I-16.01 Weaver Corporation's stock is selling for $16 per share. Weaver provided the following financial statements. Use these statements to prepare a comprehensive ratio analysis. The blank worksheet includes a table of the ratios you should calculate. WEAVER CORPORATION Comparative Balance Sheet December 31, 20X3 and 20X2 ASSETS 20X3 20X2 Current assets Cash 500,000 $ 370,000 $ Accounts receivable 350,000 290,000 Inventories 90,000 110,000 Total current assets 940,000 $ 770,000 $ Land 200,000 $ 200,000 $ Building 650,000 650,000 Equipment 950,000 900,000 1,800,000 $ 1,750,000 $ Less: Accumulated depreciation (365,000) (325,000) 1,435,000 $ 1,425,000 $ Total assets 2,375,000 $ 2,195,000 $ LIABILITIES Current liabilities Accounts payable 160,000 $ 200,000 $ Interest payable 40,000 30,000 Total current liabilities 200,000 $ 230,000 $ Long-term liabilities Long-term note payable 800,000 700,000 Total liabilities 1,000,000
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Unformatted text preview: $ 930,000 $ STOCKHOLDERS' EQUITY Common stock ($0.50 par) 100,000 $ 100,000 $ Paid-in capital in excess of par 655,000 655,000 Retained earnings 620,000 510,000 Total stockholders' equity 1,375,000 $ 1,265,000 $ Total Liabilities and equity 2,375,000 $ 2,195,000 $ 1 of 2 I-16.01 WEAVER CORPORATION Income Statement For the year ending December 31, 20X3 Revenues 1,685,000 $ Cost of goods sold 980,000 Gross profit 705,000 $ Operating Expenses Salaries 245,000 $ Interest 65,000 Depreciation 40,000 Other operating expenses 155,000 505,000 Income before income taxes 200,000 $ Less: Income taxes 40,000 Net income 160,000 $ WEAVER CORPORATION Statement of Retained Earnings For the Year Ending December 31, 20X3 Beginning retained earnings, January 1 510,000 $ Plus: Net income 160,000 670,000 $ Less: Dividends 50,000 Ending retained earnings, December 31 620,000 $ 2 of 2...
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I-16.01 Problem - $ 930,000 $ STOCKHOLDERS' EQUITY Common...

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