The following information related to TRT Company for the years 2019 and 2020.1. Income Statement Information20192020Net Sales$310,000$250,000Cost of Goods Sold00,000n6,000Operating Expense46,00041,000Interest Expernse9,00010,200Income Tax Expense10,2009,600Net Income154,000103 2002. Other Infomation:20192020Total Assets$250,000$190,000Construction in Progress15,00014,200intangible Assets7,0007,000Long-term debts70,00070,000Current liabilities40,00050,000Preferred Stocks, 5%10,00010,000Common Stocks.210,000150,000Dividend For Common shares84,00060,000Market Price of Common Shares16103. Common Stock outstanding information:*No change in outstanding common shares during 2019.in 2020 the following changes occurred:January 1.2020 (Beginning)40,000April 1. 2020 Shares issued20,000July 1. 2020 Purchased Treasury shares6,000Sept 30. 2020 Shares issued8,000November 1.2020 Stock Dividend 10% issuedDec 31.2020 Shares issued1,950instructionsFor the year 2020, Compute:Return on InvestmentO S0%O46%O35%O 45%

The return on investment ratio (also known as ROI) would be the most popular profitability…

The following information related to TRT Company for the years 2019 and 20 1. Income Statement Information 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 00,000 66,000 Operating Expense 46,000 41,000 Interest Expense 9,000 10,200 Income Tax Expense 10,200 9,600 Net income 154,000 103,200

The following information related to TRT Company for the years 2019 and 20 1. Income Statement Information 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 00,000 66,000 Operating Expense 46,000 41,000 Interest Expense 9,000 10,200 Income Tax Expense 10,200 9,600 Net income 154,000 103,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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[The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. Comparative Income Statements For Years Ended December 31 KORBIN COMPANY Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Numerator: 2021 2020 2019 $ 548,688 $ 420,340 $ 291,700 330,310 263,974 186,688 218,378 156,366 Common stock Other paid-in capital Retained earnings Total liabilities and equity 1 1 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 1 1 1 December 31 2021 $ 62,574 0 Current Ratio $25,844 65,000 8,125 78,043 Required: 1. Complete the below table to calculate each year's current ratio. $ 41,881 1,200 103,962 $ 55,985 3,920 114,438…
BHP Group Ltd.- 2019 and 2020 Partial Balance Sheet Assets Liabilities & Owner’s Equity 2019 2020 2019 2020 Current assets $4665 $7279 Current liabilities $2076 $4256 Net Fixed assets $7033 $11378 Long-term debt $3712 $1980 Total Equity (Total assets – total liabilities) (Total assets – total liabilities) BHP Group Ltd.- 2020 Income Statement Sales $10073 Cost of goods sold $5815 Depreciation $2227 Interest paid $1284 Taxes $1202 Calculate the Profit margin ratio of BHP Group Ltd. for the financial year 2020
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