Reimer Company reports the following data: 2024 2023…
Reimer Company reports the following data: 2024 2023 Sales 100% 100% Cost of Goods Sold 21% 11% Gross Profit 79% 89% Operating Expenses 45% 35% Net Income 34% 54% When evaluating the results of operations, what can be said about Reimer Company?
Read DetailsExcerpts from Andre Company’s December 31, 2024 and 2023, fi…
Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 40,000$ 36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the average days in inventory for 2024?Note: Round your intermediate calculations to two decimal places and final answer to one decimal place.
Read DetailsExcerpts from Nationwide Company’s December 31, 2024 and 202…
Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 81,000$ 82,000Inventory87,00077,000Net sales (all credit)490,000377,000Cost of goods sold265,000221,000Total assets850,000760,000Total stockholders’ equity510,000430,000Net income79,00054,000 What is the inventory turnover ratio for 2024?Note: Round your answer to one decimal place.
Read DetailsAssuming net income for the year is $240,000 and consider th…
Assuming net income for the year is $240,000 and consider the following information, what is the net cash flows from operating activities? Increase in salaries payable$ 16,500Depreciation expense9,500Increase in prepaid rent26,000Loss on sale of asset1,200Increase in accounts payable31,500Increase in inventory89,000
Read DetailsExcerpts from Andre Company’s December 31, 2024 and 2023, fi…
Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$40,000$36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the return on equity for 2024?Note: Round your answer to one decimal place.
Read DetailsDuring the year, Next Tec Corporation had the following cash…
During the year, Next Tec Corporation had the following cash flows: receipt from customers, $10,000; receipt from the bank for long-term borrowing, $6,000; payment to suppliers, $5,000; payment of dividends, $1,000; payment to workers, $2,000; and payment for machinery, $8,000. What amount would be reported for net financing cash inflows (outflows) in the statement of cash flows?
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