cial Analysis Project nces Saved Case 11-21 (Algo) Analytical case-complete an income statement and balance sheet...

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cial Analysis Project nces Saved Case 11-21 (Algo) Analytical case-complete an income statement and balance sheet using financial ratio data Financial ratios computed for Whittaker Incorporated include the following: Current ratio Acid-test ratio Debt/equity ratio 2.2 to 1 1.2 to 1 2.2 to 1 Inventory turnover Accounts receivable turnover Times interest earned Gross profit ratio Return on investment Earnings per share 2.5 times 5.7 times 4.75 times 40% 10.94% $7.44 All sales during the year were made on account. Cash collections during the year exceeded sales by $16,000, and no uncollectible accounts were written off.. The balance of the accounts receivable account was $44,000 on January 1, 2023. No common stock was issued during the year. Dividends declared and paid during the year were $5,608. The balance of the inventory account was $43,496 on January 1, 2023. Interest expense on the income statement relates to the 10% bonds payable; $12,000 of these bonds were issued on May 1, 2023; the remaining amount of bonds payable were outstanding throughout the year. All bonds were issued at face amount. Required: a. Complete the income statement and balance sheet for Whittaker Incorporated. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Complete the income statement for Whittaker Incorporated. < Prev 6 of 8 Next > Help Save Analysis Project Saved NO COMMONS 1 g ure your. Dividends declared and paid during the year were $5,608. . The balance of the inventory account was $43,496 on January 1, 2023. Interest expense on the income statement relates to the 10% bonds payable; $12,000 of these b the remaining amount of bonds payable were outstanding throughout the year. All bonds were Required: a. Complete the income statement and balance sheet for Whittaker Incorporated. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Complete the income statement for Whittaker Incorporated. WHITTAKER INCORPORATED Income Statement For the Year Ended December 31, 2023 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before taxes. Income taxes (20%) Net income $ 205,200 $ 82,080 < Prev 6 of 8 Ne nancial Analysis Project 6 5 ents: Required A1 Required A2 Complete the balance sheet for Whittaker Incorporated. WHITTAKER INCORPORATED eBook Current assets: Cash + Print Accounts receivable, net Inventory Balance Sheet December 31, 2023. 28,000 Total current assets $ 121,000 eferences Property, plant, and equipment, net Total assets Current liabilities Bonds payable, 10% Total liabilities $ 55,000 66,000 Saved Stockholders' equity: Common stock, $4 par value Additional paid-in capital $ 10,000 15,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity cial Analysis Project nces Saved Case 11-21 (Algo) Analytical case-complete an income statement and balance sheet using financial ratio data Financial ratios computed for Whittaker Incorporated include the following: Current ratio Acid-test ratio Debt/equity ratio 2.2 to 1 1.2 to 1 2.2 to 1 Inventory turnover Accounts receivable turnover Times interest earned Gross profit ratio Return on investment Earnings per share 2.5 times 5.7 times 4.75 times 40% 10.94% $7.44 All sales during the year were made on account. Cash collections during the year exceeded sales by $16,000, and no uncollectible accounts were written off.. The balance of the accounts receivable account was $44,000 on January 1, 2023. No common stock was issued during the year. Dividends declared and paid during the year were $5,608. The balance of the inventory account was $43,496 on January 1, 2023. Interest expense on the income statement relates to the 10% bonds payable; $12,000 of these bonds were issued on May 1, 2023; the remaining amount of bonds payable were outstanding throughout the year. All bonds were issued at face amount. Required: a. Complete the income statement and balance sheet for Whittaker Incorporated. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Complete the income statement for Whittaker Incorporated. < Prev 6 of 8 Next > Help Save Analysis Project Saved NO COMMONS 1 g ure your. Dividends declared and paid during the year were $5,608. . The balance of the inventory account was $43,496 on January 1, 2023. Interest expense on the income statement relates to the 10% bonds payable; $12,000 of these b the remaining amount of bonds payable were outstanding throughout the year. All bonds were Required: a. Complete the income statement and balance sheet for Whittaker Incorporated. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Complete the income statement for Whittaker Incorporated. WHITTAKER INCORPORATED Income Statement For the Year Ended December 31, 2023 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before taxes. Income taxes (20%) Net income $ 205,200 $ 82,080 < Prev 6 of 8 Ne nancial Analysis Project 6 5 ents: Required A1 Required A2 Complete the balance sheet for Whittaker Incorporated. WHITTAKER INCORPORATED eBook Current assets: Cash + Print Accounts receivable, net Inventory Balance Sheet December 31, 2023. 28,000 Total current assets $ 121,000 eferences Property, plant, and equipment, net Total assets Current liabilities Bonds payable, 10% Total liabilities $ 55,000 66,000 Saved Stockholders' equity: Common stock, $4 par value Additional paid-in capital $ 10,000 15,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity