The Simmons Corporation's income statement is given below. SIMMONS CORPORATION Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes Taxes Income after taxes $231,000 116,000 X 115,000 29,700 85,300 15,900 69,400 24,290 $45,110 a. What is the times interest earned ratio? (Round the final answer to 2 decimal places.) Times interest earned b. What would be the fixed charge coverage ratio? (Round the final answer to 2 decimal places.) Fixed charge coverage
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- The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Includes both state and federal taxes. Refer to the information for Santiago Systems above. Required: Compute the price-earnings ratio. (Note: Round the answer to two decimal places.)For this question, calculate all values to 2 decimal places of £M (e.g. £123.45M) unless otherwise specified, and all ratios to 2 decimal places of percentage (e.g. 9.87%). You are given the following income statements and balance sheets for Freddie M Corporation for fiscal years 2045 and 2046 (all figures are in £ million), Income Statement Balance Sheet Sales Cost of goods sold Gross margin Wage & salaries expense Depreciation expense Earnings before interest and tax Interest expenses Taxes Net income Dividends Change in shareholder's equity Assets: Cash & equivalents Receivables Inventories Current Assets Property, plant & equipment Accumulated depreciation Net property, plant & equip Total Assets 2045 400.00 -200.00 200.00 -50.00 -25.00 125.00 -25.00 -60.00 40.00 -16.00 24.00 2045 2046 480.00 -240.00 240.00 -60.00 -25.00 155.00 -20.00 -70.00 65.00 -26.00 39.00 2046 Liabilities: 30.00 36.00 Payables 60.00 Short-term debt 50.00 50.00 60.00 Long-term debt 130.00 156.00 Total…The Lancaster Corporation's income statement is given below. Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes LANCASTER CORPORATION Interest Income before taxes Taxes (35%) Income after taxes a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 234,000 175,000 $ 59,000 33,000 $ 26,000 17,300 $ 8,700 3,045 $ 5,655
- Compute the component percentages for Trixy Magic's Income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values.) Net sales Cost of sales Gross margin Expenses Selling, general, and administrative Depreciation Interest-net Total expenses Pre-tax earnings Income tax provision Net earnings TRIXY MAGIC, INC. Consolidated Statements of Earnings (in millions) Fiscal 2018 $ $ 48,236 31,732 16,504 11,093 1,547 294 12,934 3,570 1,328 2,242 % Sales 100.00 % % Fiscal Years Ended on % Sales Fiscal 2017 $ $ 48,284 31,558 16,726 10,534 1,373 201 12,108 4,618 1,719 2,899 100.00 % % Fiscal 2016 % Sales S 46,930 30.741 16,198 ३ 9,746 1,171 156 11,073 5,125 1,910 3.215 100.00 %* ces Use the following information to answer this question. Windswept, Incorporated. 2022 Income Statement. (in millions) Net sales Cost of goods sold. Depreciation Earnings before interest and taxes. Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 20227 $ 9,950 8,060 495 $ 1,395 116 $ 1,279 448 $ 831 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $290 1,120 1,990 1,785 $3,400 $3,125 3,530 4,150 $ 6,930 $ 7,275 2022 $320 Accounts payable 1,020 Long-term debt Common stock. Retained earnings Total liabilities & equity 2021 $ 1,610 1,160 3,460 700 2022 $1,535 1,360 3,430 950 $ 6,930 $ 7,275Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRROR AND GLASS Co. Income Statement Sales Cost of goods sold Gross profit Selling and administrative expense Lease expense Operating profit* Interest expense Earnings before taxes Taxes (30%) Earnings after taxes *Equals income before interest and taxes. a.Compute the interest Interest coverage ge ratio. (Round yo times $ 223,000 130,000 $ 93,000 44,000 19,100 $ 29,900 10,600 times $ 19,300 7,720 $ 11,580 answer to 2 decimal places.) b.Compute the fixed charge coverage ratio. (Round your answer to 2 decimal places.) Fixed charge coverage
- Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 9,710 7,990 475 $ 1,245 114 $ 1,131 396 $ 735 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 Total assets What is the days' sales in receivables for 2022? Cash Accounts receivable Inventory Total $ 3,290 $ 3,025 3,530 4,050 Net fixed assets $ 6,820 $ 7,075 $ 270 $ 300 Accounts payable $ 1,550 1,080 1,940 1,745 980 Long-term debt Common stock Retained earnings Total liabilities & equity $ 6,820 $ 7,075 1,160 3,460 650 2022 $ 1,785 1,330 3,060 900Hsu Company reported the following on its income statement: Income before income taxes Income tax expense Net income $356,883 107,065 $249,818 Interest expense was $73,432. Hsu Company's times interest earned ratio (rounded to two decimal places) is Oa. 5.86 times Ob. 3.4 times Oc. 4.86 times Od. 2.4 timesUse the following information to construct an income statement. Interest Expense Cost of Goods Sold Other Operating Expenses $350,196 $11,519,888 $244,807 Sales Depreciation Expense Flat Tax Rate $19,244,808 $467,723 21% What was the firms Net Profit Margin? (answer in decimal form and round to three decimal places; 7.6% = .076)
- Operating data for Sheridan Corporation are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense $ 2027 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) Net income $ $842,800 530,964 126,420 80,066 37,926 67,424 2026 Amount $645,500 413,120 77,460 50,349 25,820 78,751 2027 SHERIDAN CORPORATION Condensed Income Statements For the Years Ended December 31 Percent % % % % % % % % $ % $ Amount 2026 Percent Ih SUPPThe Lancaster Corporation’s income statement is given below. LANCASTER CORPORATION Sales $ 265,000 Cost of goods sold 137,000 Gross profit $ 128,000 Fixed charges (other than interest) 25,100 Income before interest and taxes $ 102,900 Interest 19,100 Income before taxes $ 83,800 Taxes (35%) 29,330 Income after taxes $ 54,470 a. What is the times-interest-earned ratio? (Round your answer to 2 decimal places.)2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold -1 -1 -1 Gross profit Selling expenses -1 -1 -1 Administrative expenses -1 -1 -1 Total expenses Income before taxes -1 -1 -1 Income tax expense -1 -1 -1 Net income % % % See picture