Martinakom
$12/per page/Negotiable
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WATERLOO CORPORATIONÂ |
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20X5 |
20X4 |
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Assets |
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Current Assets |
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Cash |
$ 12,250 |
$ 13,400 |
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Accounts Receivable (net) |
19,500 |
25,900 |
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Inventories |
39,500 |
35,900 |
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Prepaid Expense |
__4,750 |
__4,650 |
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Total Current Assets |
$ 73,000 |
$ 77,150 |
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Property, Plant, and Equipment |
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Buildings (net) |
$ 103,750 |
$ 102,150 |
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Equipment (net) |
29,500 |
30,900 |
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Vehicles (net) |
33,000 |
40,900 |
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Total Property, Plant, and Equipment |
$ 164,250 |
$ 172,150 |
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Trademarks (net) |
__$ 15,750 |
__$ 3,400 |
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Total assets |
$ 251,000 |
$ 250,900 |
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Liabilities and Stockholders' Equity |
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Current Liabilities |
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Accounts Payable |
$ 50,000 |
$ 70,900 |
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Notes Payable |
14,500 |
40,900 |
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Federal Taxes Payable |
__3,500 |
__25,900 |
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Total Current Liabilities |
$ 66,000 |
$ 135,900 |
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Long-Term Debt |
__$ 51,000 |
__$ 25,900 |
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Total Liabilities |
$ 116,000 |
$ 160,900 |
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Stockholders' Equity |
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Common Stock, $10 par |
$ 26,000 |
$ 25,900 |
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Retained Earnings |
__111,000 |
__65,900 |
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Total Stockholders' Equity |
$ 136,000 |
$ 90,900 |
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Total Liabilities and Stockholders' Equity |
$ 251,000 |
$ 250,900 |
Â
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WATERLOO CORPORATIONÂ |
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20X5 |
20X4 |
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Net Sales |
$ 575,000 |
$510,000 |
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Cost of Goods Sold |
__330,000 |
__250,000 |
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Gross Profit |
$ 220,000 |
$250,000 |
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Operating Expense |
__132,500 |
__100,000 |
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Income Before Interest and Taxes |
$ 87,500 |
$150,000 |
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Interest Expense |
__12,500 |
__3,000 |
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Income Before Taxes |
$ 75,000 |
$147,000 |
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Income Tax Expense |
__30,000 |
__58,800 |
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Net Income |
$ 45,000 |
$ 88,200 |
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   Prepare a horizontal analysis of the balance sheet showing percentage changes from 20X4 to 20X5. Round all calculations in parts (a) and (b) to two decimal places. |
Questions |
YOUR ANSWERS BASED UPON COURSE START DATE |
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WATERLOO CORPORATION |
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Comparative Balance Sheets |
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December 31,20X5 and 20X4 |
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Assets |
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Current Assets |
% Change |
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Cash |
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 Accounts Receivable (net) |
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 Inventories |
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 Prepaid Expense |
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   Total Current Assets |
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 Buildings (net) |
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 Equipment (net) |
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 Vehicles (net) |
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   Total Property, Plant, and Equipment |
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 Trademarks (net) |
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   Total assets |
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 Accounts Payable |
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 Notes Payable |
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 Federal Taxes Payable |
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   Total Current Liabilities |
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Long-Term Debt |
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   Total Liabilities |
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 Common Stock, $10 par |
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 Retained Earnings |
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   Total Stockholders' Equity |
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   Total Liabilities and Stockholders' Equity |
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WATERLOO CORPORATION |
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Comparative Income Statements |
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   Prepare a vertical analysis of the 20X5 income statement by relating each item to net sales. |
20X5 |
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Net Sales |
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Cost of Goods Sold |
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Gross Profit |
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Operating Expense |
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Income Before Interest and Taxes |
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Interest Expense |
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Income Before Taxes |
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Income Tax Expense |
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Net Income |