CHECKLIST OF KEY FIGURESFor Exercises and Problems in

Kimmel, Weygandt, KiesoFINANCIAL ACCOUNTING: TOOLS FOR BUSINESS DECISION MAKING, SIXTH EDITION

Chapter 1Exer.No. 1-4 Net income $13,400.1-5 Net income $12,901.3.1-6 Ending retained earnings $290,000.1-8 (b) Net income $34,286.1-9 Common stock $30,000; Cost of goods sold $55,000.1-10 (b) Ending retained earnings $27,000; total assets $128,000.1-11 (b) Net income $1,208.1-12 (a) Net increase in cash $18,000.1-13 (a) Net increase in cash $823.1-14 Total assets $79,500.1-15 (b) Total assets $13,249.6; total liabilities $4,556.5.1-16 (c) Dividends $30,000. (f) Total revenues $140,000.

P1-3A Net income $3,800, Retained earnings $2,400, Total assets, $37,000P1-4A Net cash provided by operating activities $28,000P1-5A (b) Total assets $85,000P1-3B Net income $4,300, Retained earnings $2,600, Total assets $78,000P1-4B Net cash provided by operating activities $18,000P1-5B (b) Net income $37,000BYP 1-1 (e) Increase in net income $14,698,000BYP 1-2 Hershey’s net income $435,994; Tootsie Roll’s net income $53,475BYP 1-7 Total assets $34,000

Chapter 2Exer.No.2-3 Total current assets $35,275.2-4 Total current assets $2,945,021.2-5 Total assets $212,720.2-6 Total assets $12,119.2-7 (a) 2008 earnings per share $1.01.

2-8 (a) Net loss $(2,500). (b) Total assets $51,480.2-9 (a) Ending current ratio 2.06:1.2-10 (b) Current ratio 2.0:1.2-11 (b) 2009 Free cash flow ($45,536).

P2-1A Total assets $13,689,848P2-2A Net income $21,400, Retained earnings $40,400, Total assets $73,700P2-3A Net income $2,230, Retained earnings $3,505

Total assets $9,157P2-4A (a) Earnings per share, Duran $3.10, (c) Free cash flow: Kiepert $1,000P2-5A (ii) Current ratio 2.35:1 (iii) Free cash flow $67,800P2-6A (b) 2012 Working capital $113,000 (e) 2012 Free cash flow $17,000P2-7A (b) Current ratio: Target 1.66:1 Wal-Mart .88:1

(d) Free cash flow: Target $418 Wal-Mart $7,902P2-1B Total assets $11,200P2-2B Net income $6,200, Retained earnings $17,900, Total assets $33,800P2-3B Net income $9,700, Retained earnings $20,860, Total assets $49,135P2-4B (a) Earnings per share: Weber $.34 (c) Free cash flow: Al Sharif $22,000P2-5B (i) Current ratio 2.0:1, (iv) Free cash flow $19,300P2-6B (b) 2012 Working capital $116,000 (e) 2012 Free cash flow $30,000P2-7B (b) Current ratio: Blockbuster 1.12:1 Movie Gallery .89:1

(d) Free cash flow: Blockbuster $239 Movie Gallery ($30)BYP 2-1 2009 current assets $211,878,000BYP 2-2 (a) Hershey Foods Tootsie Roll2. Current ratio 1.5:1 3.8:14. Free cash flow $676,022 $36,625BYP 2-4 (a) Percentage decrease in total assets 9.5%

Chapter 3Exer.No.3-2 Ending cash $15,0003-3 Ending cash $56,8003-4 (b) Stockholders’ equity increase $23,400. (c) Net income $5,400.3-5 Net income $5,400; Total assets $26,200.3-10 (b) Totals $44,040.3-11 (a) Total assets $21,500. 3-12 (b) Totals $21,700.3-13 (b) Totals $18,100.3-14 (b) Totals $21,200.3-16 (a) Totals $98,370. (b) Net income $5,214; Total assets $87,384.

P3-1A (a) Ending cash balance: $34,800; (b) Net income $9,100P3-2A (a) Ending cash balance: $18,270; (b) Net income $2,170P3-3A (a) Ending cash balance: $7,150; (b) Net income $2,570P3-5A (b) Ending balances: Cash $18,800, Accounts Payable $1,000(c) Trial balance totals $24,400P3-6A (c) Ending balances: Cash $5,700(d) Trial balance totals $24,100P3-7A Trial balance totals $16,900P3-8A (c) Ending balances: Cash $32,750, Accounts Payable $9,100(d) Trial balance totals $128,800P3-1B (a) Ending cash balance: $15,510; (b) Net income $4,910P3-2B (a) Ending cash balance: $12,680; (b) Net income $2,170P3-3B (a) Ending cash balance: $10,250; (b) Net income $8,130P3-5B (b) Ending balances: Cash $43,700, Accounts Payable $400(c) Trial balance totals $49,400P3-6B (c) Ending balances: Cash $7,464, Accounts Payable $6,710(d) Trial balance totals $55,540P3-7B Trial balance totals $25,220P3-8B (c) Ending balances: Cash $6,660 Accounts Payable $1,850(d) Trial balance totals $35,890BYP 3-6 (c) Correct net income $5,900

Chapter 4Exer.No.4-4 Accrual basis earnings $34,180.4-5 (a) Cash basis income $7,600.4-6 (a) Net income $16,005.

(b) Total assets $36,425.4-12 Net income $2,040.4-13 (a) $1,350; (c) $1,760.4-17 Net income $14,100; Total assets $34,500.

P4-1A (b) Cash received $199,000P4-2A (b) Ending balances: Prepaid Insurance $2,640, Salaries and Wages Expense $5,250(c) Adjusted trial balance totals $45,310P4-3A (b) Ending balances: Prepaid Insurance $1,350, Salaries and Wages Expense $3,900(c) Adjusted trial balance totals $114,630; (d) Net income $3,570, Total assets $106,150P4-4A (b) Net income $2,510, Retained earnings $1,910, Total assets $23,430P4-6A (b) Net income $33,285P4-7A (e) Ending balances: Cash $1,840, Salaries and Wages Expense $2,080(f) Adjusted trial balance totals $22,680; (g) Net loss ($1,030), Total assets $17,800P4-8A (e) Ending balances: Cash $5,410, Retained Earnings $3,200

(f) Adjusted trial balance totals $25,880 (g) Net income $4,300, Total assets $21,500P4-1B (b) Cash received $184,000P4-2B (b) Ending balances: Prepaid Insurance $3,450, Salaries and Wages Expense $4,960(c) Adjusted trial balance totals $37,500P4-3B (b) Ending balances: Prepaid Insurance 4,050, Salaries and Wages Expense $53,600(c) Adjusted trial balance totals $319,050; (d) Net income 11,500, Total assets $236,300P4-4B (b) Net income $38,810, Retained earnings $34,310, Total assets $68,790P4-6B (b) Net income $10,100P4-7B (e) Ending balances: Cash $3,110, Salaries and Wages expense $2,000(f) Adjusted trial balance totals $30,590; (g) Net income $1,300, Total assets $24,370P4-8B (e) Ending balances: Cash $6,200, Retained Earnings $2,150(f) Adjusted trial balance totals $28,930 (g) Net income $3,050, Total assets $22,730BYP 4-6 (a) Net income $16,790BYP 4-9 Total assets $15,350

Chapter 5Exer.No.5-1 (a) (5) Cash paid $23,912.5-3 (a) (3) Cash received $ 470,250.5-4 (a) Cash paid (June 19) $8,148.5-5 Net sales $864,500.5-6 (a) Net income $14,250.5-7 (b) Profit margin ratio-Indig .14; Gross profit rate-Perez .40.5-8 (a) Net income $63,500.5-9 (a) Net income $537.5-10 Cost of goods sold $154,700.5-11 (b) $1,550, (d) $40, (f) $120, (h) $640, (j) $5,000, (l) $44,530.5-13 (a) (5) Cash paid $22,932.

P5-1A (b) Ending balances: Cash $3,496, Inventory $5,952(c) Gross profit $2,828P5-3A (b) Ending balances: Cash $1,587, Inventory $4,263(c) Trial balance totals $8,150; (d) Gross profit $700P5-4A (a) Net income $32,900, Retained earnings $35,100, Total assets $146,400P5-5A Net income $69,000P5-6A (b) Ending balances: Accumulated Depreciation- Equipment $47,500(c) Adjusted trial balance totals $1,365,500(d) Net income $81,100, Retained earnings $138,300, Total assets $399,000P5-7A Gross profit $272,600P5-8A (g) Purchases $32,960; (h) Cash payments $34,860P5-9A (b) Ending balances: Cash $1,587; Accounts Receivable $850,

(c) Trial balance totals $8,427; (d) Gross profit $700P5-1B (b) Ending balances: Cash $2,596, Inventory $8,544(c) Gross profit $6,320P5-3B (b) Ending balances: Cash $1,086, Inventory $3,244(c) Trial balance totals $5,610; (d) Gross profit $460P5-4B (a) Net income $28,300, Retained earnings $32,500, Total assets $313,800P5-5B Net income $51,150P5-6B (b) Ending balances: Accumulated Depreciation- Equipment $61,000(c) Adjusted trial balance totals $1,015,400(d) Net income $14,300, Retained earnings $32,300, Total assets $199,500P5-7B Gross profit $267,000P5-8B (b) Gross profit-2011, $78,100; 2013-$78,600P5-9B (b) Ending balances: Cash $1,086; Accounts Receivable $330 (c) Trial balance totals $5,846; (d) Gross profit $460CP (b) Ending balances: Cash $12,820, Inventory $8,720(d) Adjusted trial balance totals $65,500(e) Net income $540, Total assets $45,340BYP 5-1 (a) 2008 to 2009 sales increased .7%(c) 2009 gross profit rate 35.7%BYP 5-2 (a) Tootsie Roll Hershey(1) Profit margin ratio 10.7% 8.2%(3) Gross profit rate 35.7% 38.7%BYP 5-4 (a) Gross profit rate: Carrefour 22.5%, Wal-Mart 22.5%(b) Profit margin ratio: Carrefour 2.5%, Wal-Mart 3.5%BYP 5-6 (a) (1) Net income $62,000 (c) Net income $93,440

Chapter 6Exer.No.6-1 Correct inventory $309,000.6-2 Correct inventory $558,000.6-4 (a) Cost of goods sold: FIFO $12,010; LIFO $12,065.6-5 (a) $729; (b) $746.36; (c) $767.6-7 (a) Cost of goods sold: FIFO $4,640; LIFO $5,000; Average $4,788.6-8 (a) LIFO Net income $14,700; (b) FIFO Net cash provided $28,000.6-9 Total LCM $4,373.6-10 2008: Inventory turnover 8.5; Gross profit rate .529.6-11 (a) Inventory turnover 5.98.

(b) Adjusted current ratio 2.53:1.6-12 (a) Ending inventory: FIFO $1,680; LIFO $1,520; Moving average $1,639.6-13 (a) FIFO $1,155; LIFO $1,140; Average $1,152.6-14 2012 Cost of goods sold $161,000.6-15 (a) 2012 Gross profit $71,000.

P6-2A (a) Cost of goods available for sale $137,000(b) Ending inventory: FIFO $32,000, LIFO $21,500, Average cost $27,399P6-3A (a) Cost of goods available for sale $16,800(b) Ending inventory; FIFO $2,300, Average cost $1,976, LIFO $1,700P6-4A Net income FIFO $183,456, LIFO $172,008P6-5A Gross profit: LIFO $2,970, FIFO $3,310, Average cost $3,133P6-6A (a) (1) Gross profit $162,500 (b) Cost of goods sold: FIFO $199,000, LIFO $206,150P6-7A (a) Inventory turnover ratio 11.5, (c) Current ratio .86:1P6-8A (a) Ending Inventory: LIFO $1,400, FIFO $1,750, Moving average $1,647P6-9A Ending inventory: FIFO $213, Average cost $207, LIFO $195P6-2B (a) Cost of goods available for sale $89,000(b) Ending inventory: FIFO $28,400 LIFO $18,600 Average cost $23,133P6-3B (a) Cost of goods available for sale $27,170(b) Ending inventory: FIFO $7,820, LIFO $5,910, Average cost $6,856P6-4B Net income FIFO $120,360, LIFO $115,940P6-5B Gross profit: LIFO $3,045, FIFO $3,320, Average cost $2,553P6-6B (a) Gross profit: FIFO $1,471, LIFO $1,240 P6-7B (a) Inventory turnover ratio 16.1 (c) Current ratio 1.095:1P6-8B (a) Ending inventory: LIFO $550, FIFO $600, Moving average $579P6-9B (a) Ending inventory: FIFO $312, Average cost $304, LIFO $292CP (b) Ending balances: Inventory $2,342, Cost of Goods Sold $4,098(c) Adjusted trial balance totals $41,055(d) Net income $767, Total assets $34,262 (e) Ending inventory: FIFO $2,336, LIFO $1,800BYP 6-1 (b) Percentage increase in inventories 1.4%BYP 6-2 (a) Tootsie Roll days in inventory: 64.0 daysBYP 6-4 (d) 2009 Days in inventory: 93.6BYP 6-6 (a) Inventory turnover–2012: 7.5, Days in inventory–2011: 45.1

Chapter 7Exer.No.7-6 (a) Adj. cash bal. $3,497.20.7-7 Total $1,560.7-8 (a) Adj. cash bal. $9,342.7-9 (a) Adj. cash bal. $18,855.7-10 (a) $1,880; (b) $2,040.

(c) $1,700; (d) $2,600. 7-11 (c)Adj. cash bal. $18,740.7-12 (a) Total $17,620.7-14 End. cash bal. Jan. $24,000.7-15 Cash over and short $1.30.7-16 Cash over and short $3.40.

P7-3A (a) Adjusted cash balance $7,024P7-4A (a) Adjusted cash balance $13,176.80P7-5A (a) Adjusted cash balance $8,931.90P7-6A Borrowings $1,800P7-7A January expected collections from customers $326,000,

January expected payments for purchases $110,000,January: total receipts $341,000, total disbursements $344,000

P7-8A (a) Adjusted cash balance $21,018.72P7-3B (a) Adjusted cash balance $7,947.50P7-4B (a) Adjusted cash balance $14,209.20P7-5B (a) Adjusted cash balance $5,902.70P7-6B (a) January borrowings $32,000P7-7B January expected collections from customers $293,000,

January expected payments for purchases $98,000, January: total receipts $295,000, total disbursements $310,000

P7-8B (a) Adjusted cash balance $14,687.21CP (b) Ending balances: Cash $23,520, Accounts Receivable $4,700(f) Adjusted trial balance totals $89,125(g) Net income $1,175, Total assets $72,100BYP 7-2 (b) Cash as % of total assets – 2009: Tootsie Roll 10.9%

Chapter 8Exer.No.8-1 Sales discounts $92.8-2 Interest revenue $6.8-3 (e) Accounts Receivable $229,700.8-4 (b) $6,700; (c) $6,740.8-5 (b) $6,575.8-6 Bad debts exp. $9,500.8-7 Interest revenue $761.8-8 Interest revenue 2012 $100.8-9 Net receivables $4,400.8-11 (a) Receivables turnover 9.2.8-13 Service charge expense $28,400.8-15 Service charge expense $152.8-16 Service charge expense $10.8-17 Collections $227,000.

P8-1A (a) Total estimated bad debts $10,120P8-2A (b) Balance in Accounts Receivable $809,000P8-3A (c) Bad Debts Expense $34,400P8-4A (c) Bad Debts Expense $34,600P8-5A (b) Bad Debts Expense $11,700

P8-8A (c) Total receivables $14,550P8-9A (a) Nike: Average collection period 53.7 daysP8-1B (a) Total estimated bad debts $16,890P8-2B (b) Balance in Accounts Receivable $1,318,000P8-3B (c) Bad Debts Expense $36,100P8-4B (c) Bad Debts Expense $18,000P8-5B (c) Bad Debts Expense $30,800P8-8B (c) Total receivables $14,449P8-9B (a) Intel: Average collection period 20.7 daysCP (b) Adjusted trial balance totals $70,447(c) Net income $2,011, Total assets $45,253BYP8-1 Receivables turnover ratio: 14.4, average collection period, 25.3 daysBYP 8-2 (a) (2) Hershey average collection period 29.9 daysBYP 8-4 (a) Receivables turnover ratio 11.7BYP 8-6 (a) 2012: Total expenses as a percentage of net credit sales 3.8%2012: Net expenses as a percentage of net sales 4.3%

Chapter 9Exer.No.9-3 (a) $93,600.9-5 2012 depreciation $2,562.50.9-6 (a) Building $13,375; Warehouse $6,227.9-7 (b) $11,000 gain.

(c) $6,000 loss.9-8 June 30 loss $1,000.9-10 (a) 1.42.9-11 (a) Return on assets-with .08.9-12 (a) Return on assets 6.2%.9-13 Amort. Exp.-Patent $11,250.9-14 Amort. Exp.-Patent $56,000;

Amort. Exp.-Franchise $30,000.9-17 Net income (15-year) $102,000.9-18 (a) $.575 per mile.

(b) 2013 depr. expense $29,900.9-19 (a) 2013 depreciation $21,093.75.

(b) Depreciation $4,563.

P9-1A Land $302,170P9-2A (a) May 1 Gain on disposal $10,000; (c) Total plant assets $50,037,500P9-3A June 30 Gain on disposal $3,000P9-4A (c) Total intangible assets $315,300P9-6A (a) Phelan (1) Return on assets ratio 7.5%, (3) Asset turnover ratio .36 timesP9-7A (a) Machine 2 2011 $17,000; (b) 2011 $25,500

P9-8A (a) Straight-line depreciation expense $55,000 (all years)2013 double-declining-balance depreciation $62,500P9-1B Land $302,000P9-2B (a) May 1 Gain on disposal $17,000; (c) Total plant assets $61,072,000P9-3B March 31 Gain on disposal $1,750P9-4B (c) Total intangible assets $248,950P9-6B (a) Culver (1) Return on assets ratio 26%, (3) Asset turnover ratio .80 timesP9-7B (a) Bus 2 2011 $67,500; (b) 2011 $56,250P9-8B (a) Straight-line depreciation expense $66,000 (all years)2013 double-declining-balance depreciation $84,000CP (a) 2. Gain on disposal $750(b) Trial balance totals $1,205,400(c) Net income $51,150, Total assets $247,850BYP9-2 (a) Hershey (1) Return on assets ratio 11.9%, (3) Asset turnover ratio 1.45BYP 9-4 2009 Gross profit rate 69.3%BYP 9-6 (a) Return on assets–proposed without .135Asset turnover–proposed with .50BYP 9-8 (c) Income before income taxes increase $155,000

Chapter 10Exer.No.10-1 (c) $700.10-2 (a) $18,000.10-3 (d) $2,400.10-4 Sales taxes pay.-Hubbard $780.10-5 (a) Salaries and wages payable $48,104.10-6 (b) 11 games.10-7 (b) $14,700.

(c) $44,100.10-8 (b) Interest expense $17,500.10-9 (b) Interest expense $24,000.10-11 (b) Interest expense $28,000.10-12 (a) Loss $14,900.

(b) Gain $17,400.10-13 (b) Total long-term liab. $10,158.7.10-14 (a) (2) 1.14:1; (4) 14.71.10-15 (b) 2.28.10-16 (b) 1.58:1.10-18 (b) Interest expense $29,500.10-19 (b) Interest expense $24,800.10-20 (b) Interest expense $28,858.10-21 (b) Interest expense $24,478.

10-22 First install. interest $8,400; Second install. interest $8,223.

P10-1A (c) Total current liabilities $146,724P10-2A (b) Balance in Notes Payable $42,500; (d) Total interest expense $770P10-5A (b) Long-term liabilities $5,888,000P10-6A (a) 2008 Free cash flow ($2,457); 2008 times interest earned 3.14P10-7A (c) Loss on bond redemption $11,600P10-8A (c) Premium case: Total long-term liabilities $2,032,000P10-9A (d) (1) Long-term liabilities $3,081,000P10-10A (b) Bond carrying value $1,699,516P10-11A (b) Bond carrying value $2,124,196P10-12A (c) Total liabilities $296,141P10-13A (a) June 30, 2015 Balance 34,188P10-1B (c) Total current liabilities $133,366P10-2B (b) Balance in Notes Payable $57,000; (d) Total interest expense $1,155P10-5B (b) Long-term liabilities $5,135,000P10-6B (a) 2010 Free cash flow $11,860; 2010 Debt to total assets 62%P10-7B (c) Gain on bond redemption $90,000P10-8B (c) Premium case: Total long-term liabilities $2,548,000P10-9B (d) (1) Long-term liabilities $2,550,600P10-10B (b) Bond carrying value $1,057,864P10-11B (b) Bond carrying value $3,431,732P10-12B (c) Total liabilities $382,702P10-13B (a) June 30, 2012 Balance $83,667CP (b) Trial balance totals $687,695(c) Net income $72,905, Total assets $271,600BYP10-2 (a) Tootsie Roll: Current ratio 3.78:1(b) Tootsie Roll: Debt to total assets 22.2%BYP10-4 (a) Home Depot working capital $2,076 (in millions), Current ratio 1.73:1(b) Debt to total assets 35%, Times interest earned 72.7 timesBYP10-6 (a) 1. Gain on redemption $446,000BYP10-10 Total tax $24,454

Chapter 11Exer.No.11-1 (b) Total paid-in cap. in excess of stated value $480,000.11-3 (b) Paid-in capital in excess of par value $400,000.11-4 (a) 574,000; (c) $100; (e) $1,158,000.11-6 (b) Dividends declared $220,300.11-7 Outstanding shares: after stock div. 85,050; After stock split 162,000.11-8 Total stock. equity $109,219.11-9 Total stock. equity $4,557,000.

11-10 Total stock. equity $3,030,000.11-11 2012 payout ratio 59.1%.11-12 2009 payout ratio 23.5%.11-13 (a) 2012 return 17.4%..11-14 (a) Earnings per share $4.11-15 (a) 2012 $4.2011-16 (b) Stock Dividends dr. $324,000.

P11-1A (b) Preferred Stock $750,000, Paid-in Capital in Excess of Par Value - Preferred Stock $54,000; (c) Total paid-in capital $1,829,000P11-2A (b) Common Stock $1,020,000, Paid-in Capital in Excess of Stated Value - Common Stock $490,000; (c) Total stockholders’ equity $2,600,500P11-3A Total stockholders’ equity $23,153,000P11-4A (a) Retained Earnings balance $2,860,000(b) Total stockholders’ equity $7,160,000P11-5A (b) Total paid-in capital $3,690,000, Total stockholders’ equity $3,736,000P11-6A Total stockholders’ equity $3,317,000P11-7A 2012 Return on assets 14.3%, 2012 Payout ratio 39.7%, 2012 Times interest earned 6.8P11-8A (c) Total paid-in capital $1,298,000, Total stockholders’ equity $2,138,800; (d) Payout ratio 20.3%, Return on common stockholders’ equity 20.2%P11-1B (b) Preferred Stock $900,000, Paid-in Capital in Excess of Par Value - Preferred Stock $22,000; (c) Total paid-in capital $1,470,000P11-2B (b) Common Stock $1,020,000, Paid-in Capital in Excess of Stated Value – Common Stock $1,440,000; (c) Total stockholders’ equity $4,443,600P11-3B Total stockholders’ equity $4,625,000P11-4B (a) Retained Earnings balance $805,000; (b) Total stockholders’ equity $5,375,000P11-5B Total paid-in capital $5,608,000, Total stockholders’ equity $7,486,000P11-6B Total stockholders’ equity $2,647,000P11-7B (a) 2012 Return on assets 14.7%, 2012 Payout ratio 34.6%, 2012 Times interest earned 8.9P11-8B (c) Total paid-in capital $2,140,000, Total stockholders equity $2,958,000; (d) Payout ratio 26.4%, Return on common stockholders’ equity 18.0%CP (b) Adjusted trial balance totals $740,690(c) Net income $81,970, Total assets $421,000BYP 11-1 (d) Return on common stockholders’ equity 8.3%BYP 11-2 Hershey: Return on common stockholders’ equity 78.5%BYP 11-4 (b) Host Marriott: Debt to total assets ratio 81.4%(c) Host Marriott: Return on assets ratio (.7%)BYP 11-6 (a) Return on assets 9.6%; (b) Payout ratio 13.8%; (c) Interest coverage 11.2 times

Chapter 12Exer.No.12-4 Net cash provided $228,000.

12-5 Net cash provided $191,000.12-6 Net cash provided $427,900.12-7 Net cash provided $108,000.12-8 (a) Net cash provided $133,000.12-9 (a) PepsiCo. .77 times.

(b) Coca-Cola .38 times.12-10 (a) Meadow 1.6 times.

(b) Plain .4 times.12-11 Net cash provided $78,000.12-12 (a) $5,157.1; (b) $9,351.9.12-13 Net cash provided $61,000.12-14 Net cash provided $88,600.12-15 Rent $31,500; Receipts from customers $169,000.

P12-2A (a) Net income $58,800P12-3A Net cash provided by operating activities $1,940,000P12-4A Net cash provided by operating activities $1,940,000P12-5A Net cash provided by operating activities $305,000P12-6A Net cash provided by operating activities $305,000 P12-7A Net cash provided by operating activities $38,500, Net cash used by financingactivities ($32,000)P12-8A Net cash provided by operating activities $38,500, Net cash used by financingactivities ($32,000)P12-9A Net cash provided by operating activities $176,930, Net cash used by financingactivities ($17,030)P12-10A Net cash provided by operating activities $176,930, Net cash used by financing activities ($17,030)P12-11A Net cash provided by operating activities $94,000, Net cash used by investing activities ($12,000)P12-2B (a) Cash proceeds $5,000P12-3B Net cash provided by operating activities $1,148,000P12-4B Net cash provided by operating activities $1,148,000P12-5B Net cash provided by operating activities $123,000P12-6B Net cash provided by operating activities $123,000P12-7B Net cash provided by operating activities $5,000, Net cash used by financing activities ($15,000)P12-8B Net cash provided by operating activities $5,000, Net cash used by financing activities ($15,000)P12-9B Net cash provided by operating activities $90,800, Net cash provided by financingactivities $75,000P12-10B Net cash provided by operating activities $90,800, Net cash provided by financing activities $75,000P12-11B Net cash provided by operating activities $46,000, Net cash provided by investing activities $5,000BYP 12-2 (a) Hershey: 1. Current cash debt coverage ratio .98, 2. Cash debt coverage ratio .34BYP 12-4 (a) Current ratio 1.31, Current cash debt coverage ratio (.13)

BYP 12-6 (b) Net cash provided by operating activities $15,000

Chapter 13Exer.No.13-1 Net income $289,000.13-2 (e) 75,514,706.13-3 Total assets increase 15.0%.13-4 Net income: 2011, 8.0%; 2012, 8.8%.13-5 (a) Total assets increase 6.5%.

(b) Current assets 73.5%.13-6 (a) Net income increase 13.9%.

(b) Net income-2012 6.8%.13-7 Current cash debt .69; Receivables turnover 4.2; Inventory turnover 5.9. 13-8 Feb. 7, 2.43; Feb. 18, 2.66.13-9 (b) 5.4; (d) 3.6; (f) .31.13-10 (b) 1.64; (d) 7.6%.13-11 (a) $1.86; (c) 22.2%.13-12 (a) $722,000; (c) $111,595.

P13-1A (a) Gold Company: Income from operations as a percent of sales 32.1%, Net income as a percent of sales 26.3%P13-2A (a) Earnings per share $3.69; (c) Return on assets 23.2%; (e) Receivables turnover 17.1 times (i) Times interest earned 15.1 timesP13-3A (a) 2012 Profit margin 13.6%, Price-earnings ratio 2.8 times, Debt to total assets 32%P13-4A (a) 2012: Current ratio 1.76, Inventory turnover 3.2 times, Profit margin 5.9%, Earnings per share $2.60P13-5A (a) Target: Current ratio 1.63:1, Asset turnover 1.5, Times interest earned 6.5P13-1B (a) Lewis Company: Income from operations as a percent of sales 23.8%, Net income as a percent of sales 18.5%P13-2B (a) Earnings per share $8.23; (c) Return on assets 16.1%; (e) Receivables turnover 8.2 times; (i) Times interest earned 16.4 timesP13-3B (a) 2012 Profit margin 15.8%, Price-earnings ratio 0.9 times, Debt to total assets 28%P13-4B (a) 2012: Current ratio 2.03:1, Inventory turnover 1.86 times, Profit margin 12.4%, Earnings per share $1.30P13-5B (a) Snap-on: Current ratio 2.27:1, Asset turnover .79, Times interest earned 5.1BYP 13-1 (a) 2009 (1) Net sales trend 102% of base year; (b) (1) 2009 debt to total assets 22%BYP 13-2 (a) Tootsie Roll: (1) Percentage increase in sales 0.7%, (2) Percentage increase in total assets 3.0%BYP13-4 (a) Coca-Cola: Current ratio 1.28:1, Receivables turnover 9.1 times; (b) Times interest earned 26.0 times; (c) Return on assets 15.3%

Appendix D

Exer.No.D-1 (b) $14,366,88.D-4 $981,075.42.D-5 $37,800.33.D-8 (b) $125,605.76.D-11 $467,084.70.D-13 Present value of interest $183,469.D-15 Present value of interest $17,751.86.D-16 Present value of bonds $2,459,105.D-19 $105,169.42.D-21 12 years. D-23 8 payments.

Appendix EExer.No.E-1 (a) Gain on sale $1,200.E-2 (a) Gain on sale $1,900.E-3 Gain on sale $2,800.E-4 (b) $225,000.E-5 (a) Unrealized gain $72,000.E-6 (a) Unrealized loss $4,800.E-7 (a) Unrealized loss $4,800.E-8 (a) Unrealized gain-income $12,000.

PE-1 (c) Debt investments at fair value $586,000PE-2 (a) Stock Investments balance $61,500(c) Short-term investments, at fair value $54,000PE-3 (a) Stock Investments balance $86,400(c) Investment in stock of less than 20% owned companies, at fair value $89,700PE-4 (c) Revenue from investment in Ginger under equity method $240,000PE-5 (d) Investments in stock of less than 20% owned companies, at fair value $155,000PE-6 Total current assets $461,000, Total assets $2,644,000