Volutia Corporation's comparative financial statements included the following amounts for the current year: Depreciation expense $102,000​ Loss on sale of fixed assets 38,000 Decrease in fixed assets 155,000 Increase in accounts receivable 37,000 Decrease in accounts payable 42,000 Decrease in inventory 71,000​ Increase in taxes payable 19,000 Net income 72,000​ Compute net cash provided by operating activities using the indirect method. Group of answer choices $223,000 $68,000 $22,000 $185,000

Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions)   End of Year Start of Year Assets     Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity     Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required:   What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. P.S - Answer is not 17.26%.

Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions)   End of Year Start of Year Assets     Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity     Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required: Calculate Watervan’s economic value added (EVA). Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not…

Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600

Carr Corporation's comparative balance sheet and income statement for last year appear below:   Comparative Balance Sheet   Ending Balance Beginning Balance Cash and cash equivalents $ 3,060 $ 25,070 Accounts receivable 88,000 77,390 Inventory 41,300 48,410 Prepaid expenses 9,810 16,500 Long-term investments 252,000 208,000 Property, plant, and equipment 566,500 489,600 Less accumulated depreciation 339,200 318,600 Total assets $ 621,470 $ 546,370 Accounts payable $ 9,180 $ 27,250 Accrued liabilities 25,680 17,850 Income taxes payable 53,900 50,600 Bonds payable 176,000 210,000 Common stock 152,000 140,000 Retained earnings 204,710 100,670 Total liabilities and stockholders' equity $ 621,470 $ 546,370   Income Statement Sales $ 926,500 Cost of goods sold 486,000 Gross margin 440,500 Selling and administrative expense 286,200 Net operating income 154,300 Income taxes 41,300 Net income $ 113,000   The company declared and paid…

Assets Current assets Cash Accounts receivable Inventory Total Total assets Sales Cost of goods sold Depreciation Taxable income Taxes (23%) Earnings before interest and taxes Interest paid Net income SMOLIRA GOLF CORPORATION 2021 Income Statement Dividends Retained earnings Fixed assets Net plant and equipment $465,700 $ 521,583 Total Cash, beginning of the year Operating activities 2020 $35,685 $39,032 28.936 43,152 $58,136 $111,120 Net cash from operating activities Investment activities SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 18,451 4,000 Cash, end of year Net cash from investment activities Financing activities Net cash from financing activities SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 $ 523,836 $ 632,703 Total liabilities and owners' equity Liabilities and Owners' Equity Current liabilities $ 24,000 39,144 Accounts payable Notes payable Other Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Prepare…

The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result Result

Comparitive balance sheet of Hillard Co. as of Dec 31, 2020 and 2021 is as under: Assets 2020 2021 Liabilities Cash Accounts Receivable Inventory Fixed Assets Investments Sales Cost of Goods Sold Gross profit 16,425 12,300 Salaries expenses Depreciation expense Income tax expense Admin. Expenses Net profit 16,100 163,000 13,500 221,325 28,025 10,600 Income statement for the year 2021 is as under: 18,400 206,300 9,200 272,525 829,400 614,450 214,950 12,900 11,600 1,150 164,400 24,900 Accounts Payable Salaries Payable Income tax payable Loans Payable Retained earnings Please prepare the cash flow statement using the indirect method. 2020 26,900 2,400 1,600 106,250 84,175 221,325 2021 33,450 3,100 2,050 113,250 120,675 272,525

An entity reported the following information during the first year of operations: Pretax financial income                                                          9,000,000 Nontaxable interest received                                                 1,000,000 Long-term loss accrual in excess of deductible amount        1,500,000 Tax depreciation in excess of financial depreciation             2,000,000 Income tax rate                                                                       30% What is the total tax expense?

Identify and Compute Net Operating Assets Following is the balance sheet for Lowe’s Companies Inc. LOWE’S COMPANIES INC.   Consolidated Balance Sheet   $ millions, except par value Feb. 1, 2019   Current assets   Cash and cash equivalents $533 Short-term investments 227 Merchandise inventory—net 13,107 Other current assets 979 Total current assets 14,846 Property, less accumulated depreciation 19,234 Long-term investments 267 Deferred income taxes—net 307 Goodwill 316 Other assets 1,038 Total assets $36,008 Current liabilities   Short-term borrowings $753 Current maturities of long-term debt 1,158 Accounts payable 8,639 Accrued compensation and employee benefits 691 Deferred revenue 1,356 Other current liabilities 2,530 Total current liabilities 15,127 Long-term debt, excluding current maturities 15,017 Deferred revenue—extended protection plans 863 Other liabilities 1,199 Total liabilities 32,206 Shareholders’ equity…