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aev [14]
3 years ago
7

Use the following information to answer this question. Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 6,090 Le

ss: Cost of goods sold 4,300 Less: Depreciation 410 Earnings before interest and taxes $ 1,380 Less: Interest paid 34 Taxable Income $ 1,346 Less: Taxes 404 Net income $ 942 Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands) 2009 2010 2009 2010 Cash $ 125 $ 230 Accounts payable $ 1,630 $ 1,580 Accounts rec. 1,030 870 Long-term debt 830 630 Inventory 1,745 2,060 Common stock $ 3,280 $ 3,300 Total $ 2,900 $ 3,160 Retained earnings 900 1,150 Net fixed assets 3,740 3,500 Total assets $ 6,640 $ 6,660 Total liab. & equity $ 6,640 $ 6,660 What is the return on equity for 2010?
Business
1 answer:
Blababa [14]3 years ago
7 0

Answer:

RETURN ON EQUITY 21,17%

$942,000/$4,450,000 = 21,17%

Explanation:

The ROE let see if the investors are getting a good return on their investment., while the company can measure how efficiently they are in the use of the equity.

2009       2010 BALANCE SHEETS

$125,000 $230,000 Cash

$1.030,000 $870,000 Accounts Receivable

$1.745,000 $2.060,000 Inventory

$2.900,000 $3.160,000  TOTAL CURRENT ASSETS  

$3.740,000 $3.500,000 Property and Equipment

$3.740,000 $3.500,000  TOTAL NONCURRENT ASSETS  

$6.640,000 $6.660,000  TOTAL ASSETS  

$1.630,000 $1.580,000  Accounts Payable

$1.630,000 $1.580,000  TOTAL CURRENT LIABILITIES  

$830,000 $630,000  Long-Term Debt

$830,000 $630,000  TOTAL NONCURRENT LIABILITIES  

$2.460,000 $2.210,000  TOTAL LIABILITIES

$3.280,000 $3.300,000  Common Stock  

$900,000 $1.150,000  Retained Earnings  

$4.180,000 $4.450,000  TOTAL SHAREHOLDERS SEQUITY  

$6.640,000 $6.660,000  TOTAL EQUITY & LIABILITIES  

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3 0
4 years ago
Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks
BaLLatris [955]

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is  =

Amount of average monthly check written X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

                                = $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is  =

Amount of average monthly check received X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

                         = -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is  =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

7 0
3 years ago
Mr. Smith, the special education teacher, called Tim's parents to schedule a meeting to update information on Tim's progress on
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Answer:

b

Explanation:

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7 0
2 years ago
Take it and go don't wast my time
BartSMP [9]

Answer:

thanks man

Explanation:

7 0
3 years ago
Read 2 more answers
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faust18 [17]
<span>salaries payable: (17,800/5)*2= 7,120 (credit) salaries expenses: 7,120 (debit)</span>
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3 years ago
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