Question 1 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for cost of goods sold? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
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Sales
|
$144,295
|
|
Cost of goods sold
|
$62,529
|
|
Salaries expense
|
$6,578
|
|
Tax expense
|
$6,673
|
|
Net income
|
$14,593
|
|
Total liabilities
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$22,297
|
|
Total assets
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$55,278
|
|
Cash flow from operations
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$25,271
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Question 2 In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $32,000, leaving net income of $68,000. During the year it sold a warehouse with a net book value of $9,736 for $20,347; the resulting gain or loss on the sale was included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.
Question 3 : In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $35,000, leaving net income of $65,000. During the year it sold a warehouse with a net book value of $17,972 for $13,374; the resulting gain or loss on the sale had been included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.
Question 4 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for salaries expense? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
|
Sales
|
$93,450
|
|
Cost of goods sold
|
$57,497
|
|
Salaries expense
|
$11,666
|
|
Tax expense
|
$6,331
|
|
Net income
|
$15,162
|
|
Total liabilities
|
$29,676
|
|
Total assets
|
$57,321
|
|
Cash flow from operations
|
$25,561
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Question 5 : At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and shareholders' equity of $90,000. For the year, Execon Company earned net income of $99,053 and declared cash dividends of $36,849. At the end of the year, the company had total assets of $250,036 and its shareholders' equity was at $149,993. At the end of the year, Execon Corporation had total liabilities of ________.
Question 6 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accrued expenses? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
|
Sales
|
$16,715
|
|
Cost of goods sold
|
$11,213
|
|
Salaries expense
|
$3,697
|
|
Tax expense
|
$1,610
|
|
Net income
|
$1,262
|
|
Cash
|
$121
|
|
Accounts receivable
|
$596
|
|
Inventory
|
$301
|
|
Net fixed assets
|
$2,828
|
|
Total assets
|
$6,461
|
|
Accounts payable
|
$302
|
|
Accrued expenses
|
$625
|
|
Long-term debt
|
$1,462
|
|
Total liabilities
|
$4,386
|
|
Cash flow from operations
|
$2,878
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Question 7 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accounts receivable? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
|
Sales
|
$15,464
|
|
Cost of goods sold
|
$11,984
|
|
Salaries expense
|
$3,695
|
|
Tax expense
|
$1,849
|
|
Net income
|
$1,305
|
|
Cash
|
$120
|
|
Accounts receivable
|
$414
|
|
Inventory
|
$384
|
|
Net fixed assets
|
$2,204
|
|
Total assets
|
$8,452
|
|
Accounts payable
|
$343
|
|
Accrued expenses
|
$241
|
|
Long-term debt
|
$1,414
|
|
Total liabilities
|
$4,477
|
|
Cash flow from operations
|
$2,995
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Question 8 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for inventory? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
|
Sales
|
$18,080
|
|
Cost of goods sold
|
$9,808
|
|
Salaries expense
|
$3,876
|
|
Tax expense
|
$1,982
|
|
Net income
|
$1,742
|
|
Cash
|
$113
|
|
Accounts receivable
|
$523
|
|
Inventory
|
$541
|
|
Net fixed assets
|
$2,078
|
|
Total assets
|
$6,059
|
|
Accounts payable
|
$328
|
|
Accrued expenses
|
$307
|
|
Long-term debt
|
$1,226
|
|
Total liabilities
|
$4,180
|
|
Cash flow from operations
|
$2,626
|
Question 9 : At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and total shareholders' equity of $90,000m which included retained earnings of $69,753. For the year, Execon Company earned net income of $71,095, and at the end of the year it reported total assets of $271,579 and retained earnings of $107,797. For the year, how much did Execon pay in cash dividends?
Question 10 : Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for long-term debt? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.
|
Sales
|
$19,170
|
|
Cost of goods sold
|
$11,543
|
|
Salaries expense
|
$3,883
|
|
Tax expense
|
$1,532
|
|
Net income
|
$1,208
|
|
Cash
|
$180
|
|
Accounts receivable
|
$519
|
|
Inventory
|
$444
|
|
Net fixed assets
|
$2,532
|
|
Total assets
|
$7,519
|
|
Accounts payable
|
$300
|
|
Accrued expenses
|
$323
|
|
Long-term debt
|
$1,469
|
|
Total liabilities
|
$4,747
|
|
Cash flow from operations
|
$3,257
|