1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lara31 [8.8K]
3 years ago
7

The financial statements of Flathead Lake Manufacturing Company are shown below. Income Statement 2017 Sales $ 9,300,000 Cost of

Goods Sold 5,750,000 Depreciation Expense 550,000 Gross Profit $ 3,000,000 Selling and Administrative Expenses 2,200,000 EBIT $ 800,000 Interest Expense 200,000 Income before Tax $ 600,000 Taxes 375,000 Net Income $ 225,000 Flathead Lake Manufacturing Comparative Balance Sheets 2017 2016 Cash $ 50,000 $ 40,000 Accounts Receivable 570,000 600,000 Inventory 530,000 460,000 Total Current Assets $ 1,150,000 $ 1,100,000 Fixed Assets 2,050,000 1,400,000 Total Assets $ 3,200,000 $ 2,500,000 Accounts Payable $ 320,000 $ 300,000 Bank Loans 480,000 400,000 Total Current Liabilities $ 800,000 $ 700,000 Long-term Bonds 1,500,000 1,000,000 Total Liabilities $ 2,300,000 $ 1,700,000 Common Stock (200,000 shares) 200,000 200,000 Retainded Earnings 700,000 600,000 Total Equity $ 900,000 $ 800,000 Total Liabilities and Equity $ 3,200,000 $ 2,500,000 Note: The common shares are trading in the stock market for $15 per share. Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's return on equity ratio for 2017 is _________. (Please keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.)

Business
1 answer:
Nina [5.8K]3 years ago
4 0

Question attached

Answer and Explanation:

Answer and explanation attached

You might be interested in
A business organization needs to make up a 5 member fund-raising committee. The organization has 10 accounting majors and 8 fina
miss Akunina [59]

Answer:

The fund raising committee can be organized in 3,276 different ways.

Explanation:

The committee can have the following structures:

Accounting majors            Finance majors

        0                                          5

        1                                           4

        2                                          3

C(10,0) x C(8,5) = (10! / 10!) x (8! / 3!5!) = 1 x 56 = 56

C(10,1) x C(8,4) = (10! / 9!1!) x (8! / 4!4!) = 10 x 70 = 700

C(10,2) x C(8,3) = (10! / 8!2!) x (8! / 5!3!) = 45 x 56 = 2,520

total possibilities = 2,520 + 700 + 56 = 3,276

                               

6 0
2 years ago
What is morale?<br> I really need help with this
DanielleElmas [232]
Morale means confidence, enthusiasm, and discipline of a person or group at a particular time.
6 0
2 years ago
Emmanuel would like to start a business with a popular fast food company. He agrees to pay a fee and royalties. This is an examp
adoni [48]
A franchise, option A.
4 0
3 years ago
Consider this problem: Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil an
astraxan [27]

Answer:

The maximum time guaranteed = 19.04 minutes.

Explanation:

From the given problem data, we have:

Let Y be the random variable which follows the normal distribution.

So,

Y ~ N(u = 15, SD = 2.4

Where, u = mean and SD = Standard Deviation

Let the maximum time guaranteed is = M

So,

P (Y > M) = 0.05   equation 1

Convert this equation 1 into standard normal variable, that is,

P(Y> M) = 0.05

1 -  P(Y \leq M) = 0.05

P(Y \leq M) = 1 - 0.05

P(Y \leq M) = 0.95

P(\frac{Y-u}{SD} \leq \frac{M-u}{SD} ) = 0.95

P ( Z \leq \frac{M - 15}{2.4} )  = 0.95     Equation 2

From the equation 2, we have,

\frac{M-15}{2.4} = 1.644853627  

1.644853627 value is from using the function of Excel

( =NORSINV(0.95)) = 1.644853627

So,

M = 1.644853627 + 2.4 + 15

M = 19.04

Hence, the maximum time guaranteed = 19.04 minutes.

6 0
2 years ago
Explain the nature of promotional plan
kirill [66]

Answer:

A promotional plan of a company refers to the promotional mix. This mix contains decisions regarding the company which would put them on the path of growth and lead them towards success.

This consists of decisions regarding the manufacturing procedures, marketing decisions, market niche decisions, customer care services if required, promotional decisions, planing and strategic organizational decisions and etc.

8 0
2 years ago
Other questions:
  • After two of Mary's colleagues were laid off from their jobs for no specific reason, Mary started looking for a better job. In t
    10·1 answer
  • During its first and second years of operations, Rogers Company, a corporation using a periodic inventory system, made undiscove
    7·1 answer
  • When short-term investments appear in the balance sheet at their current market values, it is an exception to the ______ princip
    5·2 answers
  • Roberts Supply, Inc. provides the following data taken from its third quarter budget: Sep $83,000 $67,000 $59,000 Jul Aug ter Ca
    13·1 answer
  • The Ferre Publishing Company has three service departments and two operating departments. Selected data from a recent period on
    13·1 answer
  • Garcia Company issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the a
    15·1 answer
  • If the monopolist can engage in perfect price discrimination, what is the marginal revenue from selling the 5th shirt
    7·1 answer
  • Select the correct answer.
    8·1 answer
  • A company used the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una
    15·1 answer
  • which stakeholder group includes a network of relationships that supply a company with the inputs it needs to operate?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!