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Rasek [7]
3 years ago
13

Builder's Outlet just hired a new chief financial officer. To get a feel for the company, she wants to compare the firm's sales

and costs over the past three years to determine if any trends are present and also determine where the firm might need to make changes. Which one of the following statements will best suit her purposes?Income statementBalance sheetCommon-size income statementCommon-size balance sheetStatement of cash flows
Business
1 answer:
Shkiper50 [21]3 years ago
8 0

Answer:

The answer is: Income statement

Explanation:

As she wants to get information on sales and costs, the Income statement is the statement that she should looking for. With the Balance sheet statement, it only shows information on the financial position reporting the firm's assets, liabilities and owner's equity at a specific point in time rather than the sales and costs firgures during the reporting period.

Furthermore, she should opt for Income statement rather than the common-size income statement because the common-size income statement hardly illustrates any trend during the recent years/ reporting periods, instead, it is only shown each revenue and cost items as percentage of total sales in a specific period.

In the income statement, there should be enough information for the new CFO to find trends on revenues and costs (if any) because the revenue and cost items is detailed enough and at least it should be given the comparision between sales & costs of the reporting period versus the firgures of the previous reporting period.  

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During 2022, Bramble Corp. reported cash provided by operations of $778000, cash used in investing of $672000, and cash used in
Murrr4er [49]

Answer:

Bramble free cash flow was $508,000

Explanation:

Cash provided by operations = $778,000

Cash used in investing = $672,000

Cash used in financing = $186,000

Cash spent on fixed assets during the period = $270,000

Average current liabilities = $637,000

Average total liabilities = $1,682,000

Free cash flow = Cash flow from operating activities - Capital expenditures

= $778,000 - $270,000

= $508,000

5 0
3 years ago
All of the following are documents used for inventory control except:______.
damaskus [11]

Answer:

c. a petty cash voucher.

Explanation:

For controlling the inventory following documents are to be used i.e.

1.  Purchase order

2.  Vendor invoice

3. Receiving report

These three documents we called as an voucher package

But it does not involved the petty cash voucher

Therefore the correct option is c.

And, the same is to be considered

8 0
2 years ago
A random experiment with three outcomes has been repeated 50 times, and it was learned that E1 occurred 20 times, E2 occurred 13
enot [183]

Answer:

P(E1)=\frac{20}{50}=0.4

P(E2)=\frac{13}{50}=0.26

P(E3)=\frac{13}{50}=0.34

I used the relative frequency method

Explanation:

To solve this question we can use the relative frequency to find out each probability. The relative frequency is the ratio of the occurrence of each event and the total number of outcomes.

Here the experiment has been repeated 50 times, so that is the total number of outcomes and the denominator. There are 3 possible events E1, E2, and E3, so we can calculate the ratios to get the probabilities

Event E1 occurred 20 times of the 50: P(E1)=\frac{20}{50}

Event E2 occurred 13 times of the 50: P(E2)=\frac{13}{50}

Event E3 occurred 17 times of the 50: P(E3)=\frac{17}{50}

8 0
3 years ago
Carlos Ramirez and Camila Garza organized New World Book Store as a corporation; each contributed $70,900 cash to start the busi
kvasek [131]

Answer:

Net Income = $28,070

Explanation:

As for the provided details:

Balances as on December 31, 2014

Cash = $70,050

Accounts Receivables = $40,000

Inventory = $77,000

Total Assets = $187,050

Accounts Payable = $13,600

Note Payable = $3,400

Interest payable = $180

Total Liabilities = $17,180

Common Stock = $70,900 + $70,900 = $141,800

Retained earnings = $28,070

Total Stockholder's Equity = $169,870

Total of Equity and Liabilities = $187,050

Now, since it is the first year of operations, the balance of retained earnings in beginning = $0.

Also no dividend is paid, therefore, net income for the year shall be

Opening Retained Earnings + Net Income - Dividend = Closing Retained Earnings

$0 + Net Income - $0 = $28,070

Thus, Net Income = $28,070

5 0
3 years ago
"Net income for the period was $200,000. The retained earnings account had a beginning balance of $25,000. If the company paid d
solmaris [256]

Answer:

Retained earning balance at the end would be = $205,000

Explanation:

Retained earnings at the end = Retained earning at the beginning + Net income - Dividend paid

The net income would increase the balance of the retained earnings hence it is added to it.

The Dividend paid would be a cash outflow which would reduce the balance of the retained earnings, hence it is deducted from it.

So applying this to the question, we have

Retained earning balance at the end would be:

25,000 + 200,000 - 20,000 = $205,000

Retained earning balance at the end would be = $205,000

3 0
3 years ago
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