B 4 5 5 7 B 9 0 1 23456 7 8 9 0 1 2...

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B 4 5 5 7 B 9 0 1 23456 7 8 9 0 1 2 3 4 Current year: Sales Inventory purchases Sales and marketing expense Accounts receivable Accumulated depreciation Accrued expenses Interest expense Inventory current year Dividends Shares outstanding Prior year: Accounts receivable Inventory Total assets Common stock Retained earnings Shares outstanding 540,000 162,000 49,000 23,000 23,000 5,000 5,000 25,000 none 50,000 18,000 23,000 174,000 50,000 26,000 50,000 Current year: Operating expenses Cash Prepaid expenses Note payable current Administrative expenses - Common stock Equipment Accounts payable Long-term note payable Supplies Beginning inventory Goods available Cost of goods sold 229,000 33,000 9,000 10,000 60,000 50,000 108,000 13,000 45,000 11,000 Current assets: The Coffee Hut Balance Sheet Total current assets Property, plant and equipment: Net equipment Total assets Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity: Total stockholders' equity Total liabilities and equity Current Revenue: The Coffee Hut Income Statement Gross profit Expenses: Total expenses Operating income Other expenses: Net income Current Current ratio Quick ratio Accounts receivable turnover Inventory turnover Debt to assets Debt to equity Return on sales Asset turnover Return on investment Return on equity Earnings per share Ratio Number of drinks sold Average selling price Analysis If cost of goods sold is the only variable cost, and the contribution margin per drink was $3.40, how many coffee drinks were sold during the year, and what was the average selling price per drink? B 4 5 5 7 B 9 0 1 23456 7 8 9 0 1 2 3 4 Current year: Sales Inventory purchases Sales and marketing expense Accounts receivable Accumulated depreciation Accrued expenses Interest expense Inventory current year Dividends Shares outstanding Prior year: Accounts receivable Inventory Total assets Common stock Retained earnings Shares outstanding 540,000 162,000 49,000 23,000 23,000 5,000 5,000 25,000 none 50,000 18,000 23,000 174,000 50,000 26,000 50,000 Current year: Operating expenses Cash Prepaid expenses Note payable current Administrative expenses - Common stock Equipment Accounts payable Long-term note payable Supplies Beginning inventory Goods available Cost of goods sold 229,000 33,000 9,000 10,000 60,000 50,000 108,000 13,000 45,000 11,000 Current assets: The Coffee Hut Balance Sheet Total current assets Property, plant and equipment: Net equipment Total assets Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity: Total stockholders' equity Total liabilities and equity Current Revenue: The Coffee Hut Income Statement Gross profit Expenses: Total expenses Operating income Other expenses: Net income Current Current ratio Quick ratio Accounts receivable turnover Inventory turnover Debt to assets Debt to equity Return on sales Asset turnover Return on investment Return on equity Earnings per share Ratio Number of drinks sold Average selling price Analysis If cost of goods sold is the only variable cost, and the contribution margin per drink was $3.40, how many coffee drinks were sold during the year, and what was the average selling price per drink?

Answer rating: 100% (QA)

Step 1 Financial Statements Financial Statements are prepared to know the financial performance and position of the business organisation There are Two main financial statements which are prepared by ... View the full answer