Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022....
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Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the December 31, 2023, totaled $640,000. year HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity 2023 $ 25,000 78,000 103,000 $ 206,000 50,000 125,000 (65,000) $ 316,000 $ 18,000 66,400 20,000 $ 104,400 22,000 $ 126,400 $ 74,000 $ 82,000 53,600 (20,000) 2022 $ 21,000 72,000 99,000 $ 192,000 40,000 110,000 (60,000) $ 282,000 $ 17,000 76,000 18,000 $ 111,000 30,000 $ 141,000 $ 59,000 $ 85,000 2,000 (5,000) $ 82,000 $ 115,600 $ 189,600 $ 141,000 $ 316,000 $ 282,000 Required: a. Calculate ROI for 2023. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. b. Calculate ROE for 2023. ended Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the December 31, 2023, totaled $640,000. year HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity 2023 $ 25,000 78,000 103,000 $ 206,000 50,000 125,000 (65,000) $ 316,000 $ 18,000 66,400 20,000 $ 104,400 22,000 $ 126,400 $ 74,000 $ 82,000 53,600 (20,000) 2022 $ 21,000 72,000 99,000 $ 192,000 40,000 110,000 (60,000) $ 282,000 $ 17,000 76,000 18,000 $ 111,000 30,000 $ 141,000 $ 59,000 $ 85,000 2,000 (5,000) $ 82,000 $ 115,600 $ 189,600 $ 141,000 $ 316,000 $ 282,000 Required: a. Calculate ROI for 2023. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. b. Calculate ROE for 2023. ended
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Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
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