Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 88,000$ 78,000Inventory93,00075,000Net sales450,000377,000Cost of goods sold263,000226,000Total assets805,000760,000Total stockholders’ equity485,000415,000Net income75,00055,000 What is the gross profit ratio for 2024?Note: Round your answer to one decimal place.
Blog
To maximize cash flow from operations, a company strives to…
To maximize cash flow from operations, a company strives to increase both cash flows per dollar of sales and sales per dollar of assets invested.
Loring Company reported net income of $205,000. Beginning an…
Loring Company reported net income of $205,000. Beginning and ending Inventory balances were $40,000 and $45,000, respectively. Accounts payable balances at the beginning and end of the year were $35,000 and $33,000, respectively. Assuming that all relevant information has been presented, the company would report net operating cash flows of:
True or False: If there is obstruction to pulmonary venous f…
True or False: If there is obstruction to pulmonary venous flow, as there is in obstructed TAPVR, you can increase pulmonary edema by utilizing nitric oxide.
The long-term assets section of the balance sheet is the pla…
The long-term assets section of the balance sheet is the place to look for investing activities.
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?
Horizontal analysis examines trends in a company:
Horizontal analysis examines trends in a company:
Assume net income was $140,000, depreciation expense was $5,…
Assume net income was $140,000, depreciation expense was $5,700, accounts receivable decreased by $10,000, and accounts payable decreased by $3,300. The amount of net cash flows from operating activities is:
We report treasury stock at the cost of the shares acquired.
We report treasury stock at the cost of the shares acquired.
A company had the following cash flows for the year: (a) Pur…
A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Sold services to customers, $120,000 What amount would be reported for net investing cash inflows (outflows) in the statement of cash flows?