The financial statements for Faulkender Company are as follows: Required: Calculate the appropriate ratios for the financial
Question:
The financial statements for Faulkender Company are as follows:
Required:
Calculate the appropriate ratios for the financial and internal perspectives of the balanced scorecard. Be sure to include the ratios from Chapter 1.
Transcribed Image Text:
FAULKENDER COMPANY Comparative Balance Sheet December 31, 2019, and 2018 Cash Accounts receivable Inventory Plant and equipment Accumulated depreciation Total assets Accounts payable Wages payable Taxes payable Bonds payable Common stock Retained earnings 100,000 100,000 80,000 80,000 129,250 86,500 Total liabilities and shareholders' equity $343,500 $316,000 Sales Cost of goods sold Gross margin 2019 2018 $20,000 $ 22,000 41,500 39,000 72,000 64,000 288,000 265,000 (80,000) (72,000) $343,500 $316,000 $ 24,000 $37,000 FAULKENDER COMPANY Income Statement For the Year Ended December 31, 2019 $400,000 Operating expenses: Selling expense Rent expense Depreciation expense Bad debt expense Interest expense Income from operations Loss on sale of equipment Income before taxes Income tax expense Net income 3,500 6,750 $39,000 45,000 11,000 1,715 15,000 248,000 $152,000 4,000 8,500 111,715 $ 40,285 (1,000) $ 39,285 11,785 $ 27,500
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Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
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