Can you please help me with my financial analysis assignment?
Can you please help me with my financial analysis assignment?
ATTACHMENT PREVIEW Download attachmentBalance SheetASSETSDecember 31, 2009Cash$20,900,000Marketable Securities$117,000,000Accounts Receivable$33,000,000Less: Allowance for Bad Debts$(880,000)Net Accounts Receivable$32,120,000InventoryRaw Materials$2,000,000Work-in-process$1,000,000Finished Goods$5,000,000Inventory Purchased for Resale$24,000,000Total Inventory$32,000,000Plant, Property and Equipment$6,700,000Less: Accumulated Depreciation$(320,000)Net Plant, Property and Equipment$6,380,000Prepaid Expenses$200,000Goodwill and Other PurchasedIntangibles$28,000,000Less: Amortization$(700,000)Net Goodwill and Other PurchasedIntangibles$27,300,000Total Assets$235,900,000LIABILITIES AND OWNERS’ EQUITYAccounts Payable$22,000,000Accrued Advertising$11,800,000Other Liabilities and Accrued Expense$1,400,000Current Portion of Long-Term Debt$2,300,000Long Term Debt$57,400,000Preferred Stock, $100 par value per share,100,000 authorized, 0 shares issued andoutstanding$0Common Stock, $1 par value per share,250,000,000 shares authorized,
View the Answer13,000,000 sharesissued, 12,900,000 outstanding$13,000,000Additional Paid-in-Capital in excess of parvalue, Common Stock$117,000,000Treasury Stock$(1,000,000)Retained Earnings (less Cash Dividends Paid)$12,000,000$11,000,000Total Liabilities and Owner’s Equity$235,900,000Income StatementDecember 31, 2009December 31, 2008Sales Revenues$51,000,000$10,300,000Less: Sales Returns$(1,000,000)$(300,000)Net Sales Revenues$50,000,000$10,000,000Less: Cost of Goods Sold$(9,000,000)$(4,000,000)Gross Proft$41,000,000$6,000,000Operating Expenses:Advertising and Sales$(26,000,000)$(3,000,000)Depreciation$(160,000)Salaries and Wages$(1,700,000)$(1,400,000)Product Development$(4,000,000)$(1,200,000)Merger and Acquisition Related Costs,includingAmortization of Goodwill and OtherIntangibles$(700,000)$0Total Operating Expenses$(32,560,000)Income from Continuing Operations BeforeIncome Taxes$8,440,000Less: Income Taxes at 35%$(2,954,000)Income From Continuing Operations$5,486,000Discontinued Operations:Income from Operations of DiscontinuedDivision(less applicable income taxes)$350,000Loss on Disposal of Discontinued Division(less applicable income taxes)$(150,000)
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