Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales $ 10,020 Cost of goods sold 8,110 Depreciation 500 Earnings before interest and taxes $ 1, 410 Interest paid 118 Taxable income $ 1,292 Taxes 452 Net income $ 840 Windswept, Incorporated 2016 and 2 017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 300 $ 330 Accounts payable $1,650 $ 1,560 Accounts receivable 1,140 1,040 Long-term debt 1,170 1 ,370 Inventory 2,020 1,800 Common stock 3,480 3,460 Total $ 3,460 $ 3,170 Retained earnings 710 960 Net fixed assets 3,550 4,180 Total assets $ 7,010 $ 7,350 Total liability & equity $ 7,010 $ 7,350 What is the quick ratio for 2017?

Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales $ 10,020 Cost of goods sold 8,110 Depreciation 500 Earnings before interest and taxes $ 1, 410 Interest paid 118 Taxable income $ 1,292 Taxes 452 Net income $ 840 Windswept, Incorporated 2016 and 2 017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 300 $ 330 Accounts payable $1,650 $ 1,560 Accounts receivable 1,140 1,040 Long-term debt 1,170 1 ,370 Inventory 2,020 1,800 Common stock 3,480 3,460 Total $ 3,460 $ 3,170 Retained earnings 710 960 Net fixed assets 3,550 4,180 Total assets $ 7,010 $ 7,350 Total liability & equity $ 7,010 $ 7,350 What is the quick ratio for 2017?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Use the following information to answer this question. Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 9,750 Cost of goods sold 7,800 Depreciation 355 Earnings before interest and taxes $ 1,595 Interest paid 94 Taxable income $ 1,501 Taxes 450 Net income $ 1,051 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 250 $ 270 Accounts payable $ 1,480 $ 1,732 Accounts rec. 1,050 950 Long-term debt 1,040 1,228 Inventory 1,720 1,630 Common stock 3,300 3,000 Total $ 3,020 $ 2,850 Retained earnings 620 870 Net fixed assets 3,420 3,980 Total assets $ 6,440 $ 6,830 Total liab. & equity $ 6,440 $ 6,830 Windswept, Inc., has 520 million shares of stock outstanding. Its price–earnings ratio for 2017 is 20. What is the market price per share of stock?
Use the following information to answer this question. Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 9,390 Cost of goods sold 7,660 Depreciation 455 Earnings before interest and taxes $ 1,275 Interest paid 100 Taxable income $ 1,175 Taxes 411 Net income $ 764 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 210 $ 240 Accounts payable $ 1,290 $ 1,335 Accounts rec. 960 860 Long-term debt 1,080 1,280 Inventory 1,750 1,665 Common stock 3,300 3,190 Total $ 2,920 $ 2,765 Retained earnings 620 870 Net fixed assets 3,370 3,910 Total assets $ 6,290 $ 6,675 Total liab. & equity $ 6,290 $ 6,675 What is the quick ratio for 2017?
Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 9,200 7,390 305 $ 1,505 87 $ 1,418 425 $ 993 Windswept, Incorporated 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 Cash $ 240 $ 255 Accounts payable 2016 $ 1,380 2017 Accounts receivable 1,020 Inventory 1,620 730 1,640 Long-term debt Common stock Total $ 2,880 $ 2,625 Retained earnings 3,280 460 $ 1,315 1,130 1,400 3,010 710 Net fixed assets 3,370 3,810 Total assets $ 6,250 $ 6,435 Total liability & equity $ 6,250 $ 6,435 What were the total dividends paid for 2017? Multiple Choice $585 million $455 million $738 million $250 million $743 million
Use the following Information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $8,600 Cost of goods sold 7,250 Depreciation 340 Earnings before interest and taxes $1,010 Interest paid 85 Taxable income $ 925 Таxes 324 Net income $ 601 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 130 $ 120 Accounts payable $1,150 $1,192 Accounts rec. 900 720 Long-term debt 1,010 1,243 1,545 Common stock $2,530 $2,385 Retained earnings Inventory 1,500 3,190 2,890 Total 450 700 Net fixed assets 3,270 3,640 Total assets $5,800 $6,025 Total liab. & equity $5,800 $6,025
Use the following information to answer this question. Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 9,000 Cost of goods sold 7,350 Depreciation 360 Earnings before interest and taxes $ 1,290 Interest paid 87 Taxable income $ 1,203 Taxes 421 Net income $ 782 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 160 $ 190 Accounts payable $ 1,150 $ 1,332 Accounts rec. 840 740 Long-term debt 1,000 1,233 Inventory 1,570 1,565 Common stock 3,190 2,910 Total $ 2,570 $ 2,495 Retained earnings 470 720 Net fixed assets 3,240 3,700 Total assets $ 5,810 $ 6,195 Total liab. & equity $ 5,810 $ 6,195 What is the equity multiplier for 2017?
Use the following information to answer this question. Bayside, Inc.2017 Income Statement($ in thousands) Net sales $ 6,040 Cost of goods sold 4,200 Depreciation 400 Earnings before interest and taxes $ 1,440 Interest paid 30 Taxable income $ 1,410 Taxes 423 Net income $ 987 Bayside, Inc.2016 and 2017 Balance Sheets($ in thousands) 2016 2017 2016 2017 Cash $ 115 $ 220 Accounts payable $ 1,580 $ 1,510 Accounts rec. 990 830 Long-term debt 810 610 Inventory 1,705 2,040 Common stock 3,240 3,280 Total $ 2,810 $ 3,090 Retained earnings 880 1,130 Net fixed assets 3,700 3,440 Total assets $ 6,510 $ 6,530 Total liab. & equity $ 6,510 $ 6,530 What is the return on equity for 2017?
Use the following information to answer this question. Windswept, Inc. 2017 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 rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 280 $ 310 Accounts payable Long-term debt Common stock $3,210 $3,110 Retained earnings 3,570 4,090 $6,780 $7,200 Total liab. & equity 1,130 1,030 1,800 1,770 $10,100 8,000 415 $1,685 102 $ 1,583 554 $ 1,029 What is the cash coverage ratio for 2017? 2016 2017 $1,660 $1,857 1,080 1,393 3,380 3,040 660 910 $6,780 $7,200
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Het 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 2021 What is the equity multiplier for 20227 $11,100 8,050 430 $ 2,620 104 $2,516 881 $ 1,635 Windswept, 2921 and 2022 Balance Sheets. (in millions) 2022 $300 1,150 1,050 2,060 1,775 $ 3,510 $3,155 3,520 4,120 $7,030 $7,275 $ 330 porated Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $1,870 1,090 3,400 670 2022 $1,932 1,373 3,050 920 $7,030 $7,275.
Windswept, Inc.2017 Income Statement($ in millions) Net sales $ 11,000 Cost of goods sold 8,200 Depreciation 395 Earnings before interest and taxes $ 2,405 Interest paid 110 Taxable income $ 2,295 Taxes 689 Net income $ 1,606 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions) 2016 2017 2016 2017 Cash $ 420 $ 445 Accounts payable $ 2,060 $ 2,005 Accounts rec. 1,210 1,110 Long-term debt 1,120 1,580 Inventory 1,980 1,820 Common stock 3,460 3,190 Total $ 3,610 $ 3,375 Retained earnings 700 950 Net fixed assets 3,730 4,350 Total assets $ 7,340 $ 7,725 Total liab. & equity $ 7,340 $ 7,725 What were the total dividends paid for 2017?
The 2017 annual report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 0000 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Instructions Compute the following ratios for Tootsie Roll for 2017. a. Asset turnover. b. Return on assets. c. Profit margin on sales. d. How can the asset turnover be used to compute the return on assets?
Use the following information for Taco Swell, Inc., (assume the tax rate is 24 percent): 2017 2018 Sales $ 15,573 $ 15,336 Depreciation 1,741 1,816 Cost of goods sold 4,379 4,787 Other expenses 986 864 Interest 835 966 Cash 6,187 6,706 Accounts receivable 8,120 9,667 Short-term notes payable 1,250 1,227 Long-term debt 20,560 24,836 Net fixed assets 51,064 54,513 Accounts payable 4,512 4,884 Inventory 14,419 15,368 Dividends 1,350 1,698 Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.) Prepare an income statement for this company for 2017 and 2018. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.)
Financial Statements for Royal Corporation Actual 2016 and Pro Forma 2017 ($ millions) Income Statement Net sales Cost of goods sold Other expenses Depreciation expense EBIT Interest expense Earnings before tax Tax Net income Dividends paid 90 Add. to retained earnings $ 269 O $4,563 O $4,663 $4.453 2016 2017 $ 47,616 $52,378 Cash & securities 40,718 44,790 Accounts receivable 5,171 5,688 Inventories 1,000 1,100 727 800 215 215 512 585 154 176 $ 359 $ 409 $5,663 Balance Sheet 102 Net fixed assets Total assets Bank loan (short-term) Accounts payable Long-term debt Total liabilities 2016 $951 2017 $1,046 5,666 6,233 4,236 4,660 4,048 14,901 $392 In the above financial statements, Royal Corporation has prepared (incomplete) pro forma financial statements for 2017 based on actual financial statements for 2016. Royal Corp. used the percent- of-sales method, assuming a sales growth rate of 10% for 2017. If capital expenditures are planned to be $1,615 in 2017, then what would be the…

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