Question: Financial data for Beaker Company for last year appear below: Beaker Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 290,000 $
Financial data for Beaker Company for last year appear below:
| Beaker Company |
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| Statements of Financial Position |
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| Beginning Balance | Ending Balance |
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| Assets: |
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| Cash | $ | 290,000 |
| $ | 451,280 |
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| Accounts receivable |
| 209,000 |
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| 193,000 |
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| Inventory |
| 282,000 |
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| 232,000 |
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| Plant and equipment (net) |
| 430,000 |
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| 393,000 |
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| Investment in Cedar Company |
| 304,000 |
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| 255,000 |
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| Land (undeveloped) |
| 241,000 |
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| 241,000 |
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| Total assets | $ | 1,756,000 |
| $ | 1,765,280 |
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| Liabilities and owners' equity: |
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| Accounts payable | $ | 208,000 |
| $ | 175,000 |
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| Long-term debt |
| 824,000 |
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| 824,000 |
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| Owners' equity |
| 724,000 |
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| 766,280 |
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| Total liabilities and owners' equity | $ | 1,756,000 |
| $ | 1,765,280 |
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| Beaker Company |
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| Income Statement |
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| Sales |
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| $ | 1,960,000 |
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| Less operating expenses |
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| 1,519,000 |
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| Net operating income |
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| 441,000 |
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| Less interest and taxes: |
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| Interest expense | $ | 103,600 |
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| Tax expense |
| 141,120 |
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| 244,720 |
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| Net income |
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| $ | 196,280 |
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The company paid dividends of $154,000 last year. The "Investment in Cedar Company" on the statement of financial position represents an investment in the stock of another company.
Additionally; The Board of Directors of Beaker Company has set a minimum required return of 30%.
Required:
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| Average Operating Assets (rounded to the nearest whole dollar, with commas) | $ |
| Operating Income (rounded to the nearest whole dollar, with commas) | $ |
| Sales (rounded to the nearest whole dollar with commas) | $ |
| Margin (rounded to the 2 decimal places) | % |
| Turnover (rounded to 2 decimal places) |
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| Return On Investment (rounded to 2 decimal places) | % |
| Residual Income (rounded to the nearest whole dollar, with commas) |
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