Financial data for Bridger Inc. for last year are as follows: BRIDGER INC. Balance Sheet Ending Balance Beginning Balance Assets Cash $ 153,000 $ 148,000 Accounts receivable 530,000 390,000 Inventory 540,000 580,000 Plant and equipment, net 817,000 842,000 Investment in Brier Company 480,000 450,000 Land (undeveloped) 300,000 300,000 Total assets $2,820,000 $2,710,000 Liabilities and shareholders' equity Accounts payable $ 370,000 $ 410,000 Long-term debt 1,100,000 1,100,000 Shareholders' equity 1,350,000 1,200,000 Total liabilities and shareholders' equity $ 2,820,000 $ 2,710,000 BRIDGER INC. Income Statement Sales $ 4,000,000 Operating expenses 3,440,000 Operating income 560,000 Interest and taxes: Interest expense $ 123,000 Tax expense 203,000 326,000 Net income $ 234,000 The company paid dividends of $120,000 last year. The "Investment in Brier Company" on the balance sheet represents an investment in the common shares of another company. Required: 1. Compute the company's margin, turnover, and ROI for last year. (Round your intermediate calculations and final answers to 2 decimal places.) 2. The board of directors of Bridger Inc. has set a minimum required return of 19%. What was the company's residual income last year?
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- Financial data for Beaker Company for last year appear below: Beaker Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 277,000 $ 136,386 Accounts receivable 179,000 205,000 Inventory 257,000 270,000 Plant and equipment (net) 476,000 440,000 Investment in Cedar Company 255,000 288,000 Land (undeveloped) 335,000 335,000 Total assets $ 1,779,000 $ 1,674,386 Liabilities and owners' equity: Accounts payable $ 203,000 $ 152,000 Long-term debt 862,000 862,000 Owners' equity 714,000 660,386 Total liabilities and owners' equity $ 1,779,000 $ 1,674,386 Beaker Company Income Statement Sales $ 1,960,000 Less operating expenses 1,597,400 Net operating income 362,600 Less interest and taxes: Interest expense $ 105,800 Tax expense 141,414 247,214 Net income $ 115,386 The company paid dividends of $169,000 last year. The "Investment in Cedar Company" on the statement of…Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 132,000 $ 129,000 Accounts receivable 341,000 489,000 Inventory 567,000 478,000 Plant and equipment, net 880,000 864,000 Investment in Buisson, S.A. 395,000 433,000 Land (undeveloped) 248,000 255,000 Total assets $ 2,563,000 $ 2,648,000 Liabilities and Stockholders' Equity Accounts payable $ 389,000 $ 345,000 Long-term debt 974,000 974,000 Stockholders' equity 1,200,000 1,329,000 Total liabilities and stockholders' equity $ 2,563,000 $ 2,648,000 Joel de Paris, Inc.Income Statement Sales $ 5,044,000 Operating expenses 4,186,520 Net operating income 857,480 Interest and taxes: Interest expense $ 114,000 Tax expense 202,000 316,000 Net income…Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 133,000 $ 128,000 Accounts receivable 337,000 485,000 Inventory 578,000 488,000 Plant and equipment, net 872,000 859,000 Investment in Buisson, S.A. 408,000 435,000 Land (undeveloped) 251,000 249,000 Total assets $ 2,579,000 $ 2,644,000 Liabilities and Stockholders' Equity Accounts payable $ 376,000 $ 337,000 Long-term debt 958,000 958,000 Stockholders' equity 1,245,000 1,349,000 Total liabilities and stockholders' equity $ 2,579,000 $ 2,644,000 Joel de Paris, Inc.Income Statement Sales $ 5,044,000 Operating expenses 4,438,720 Net operating income 605,280 Interest and taxes: Interest expense $ 128,000 Tax expense 208,000 336,000 Net income…
- Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 126,000 $ 137,000 Accounts receivable 333,000 476,000 Inventory 574,000 488,000 Plant and equipment, net 817,000 789,000 Investment in Buisson, S.A. 403,000 430,000 Land (undeveloped) 249,000 255,000 Total assets $ 2,502,000 $ 2,575,000 Liabilities and Stockholders' Equity Accounts payable $ 378,000 $ 333,000 Long-term debt 972,000 972,000 Stockholders' equity 1,152,000 1,270,000 Total liabilities and stockholders' equity $ 2,502,000 $ 2,575,000 Joel de Paris, Inc.Income Statement Sales $ 4,862,000 Operating expenses 4,035,460 Net operating income 826,540 Interest and taxes: Interest expense $ 123,000 Tax expense 204,000 327,000 Net income…Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 127,000 $ 138,000 Accounts receivable 334,000 472,000 Inventory 568,000 484,000 Plant and equipment, net 851,000 826,000 Investment in Buisson, S.A. 399,000 429,000 Land (undeveloped) 249,000 254,000 Total assets $ 2,528,000 $ 2,603,000 Liabilities and Stockholders' Equity Accounts payable $ 379,000 $ 345,000 Long-term debt 1,016,000 1,016,000 Stockholders' equity 1,133,000 1,242,000 Total liabilities and stockholders' equity $ 2,528,000 $ 2,603,000 Joel de Paris, Inc.Income Statement Sales $ 5,320,000 Operating expenses 4,628,400 Net operating income 691,600 Interest and taxes: Interest expense $ 125,000 Tax expense 201,000 326,000 Net income…OG Corporation’s balance sheet and income statement is listed below. Balance Sheet This Year Last Year Cash 50,000 40,000 Accounts receivable 80,000 60,000 Inventories 180,000 110,000 Plant & equipment 300,000 260,000 Less accumulated depreciation -40,000 -20,000 Total assets 570,000 450,000 Accounts payable 100,000 150,000 Accrued…
- OG Corporation’s balance sheet and income statement is listed below. Balance Sheet This Year Last Year Cash 50,000 40,000 Accounts receivable 80,000 60,000 Inventories 180,000 110,000 Plant & equipment 300,000 260,000 Less accumulated depreciation -40,000 -20,000 Total assets 570,000 450,000 Accounts payable 100,000 150,000 Accrued…Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 140,000 $ 120,000 Accounts receivable 450,000 530,000 Inventory 320,000 380,000 Plant and equipment, net 680,000 620,000 Investment in Buisson, S.A. 250,000 280,000 Land (undeveloped) 180,000 170,000 Total assets $ 2,020,000 $ 2,100,000 Liabilities and Stockholders' Equity Accounts payable $ 360,000 $ 310,000 Long-term debt 1,500,000 1,500,000 Stockholders' equity 160,000 290,000 Total liabilities and stockholders' equity $ 2,020,000 $ 2,100,000 Joel de Paris, Inc.Income Statement Sales $ 4,050,000 Operating expenses 3,645,000 Net operating income 405,000 Interest and taxes: Interest expense $ 150,000 Tax expense 110,000 260,000 Net income…Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 140,000 $ 120,000 Accounts receivable 450,000 530,000 Inventory 320,000 380,000 Plant and equipment, net 680,000 620,000 Investment in Buisson, S.A. 250,000 280,000 Land (undeveloped) 180,000 170,000 Total assets $ 2,020,000 $ 2,100,000 Liabilities and Stockholders' Equity Accounts payable $ 360,000 $ 310,000 Long-term debt 1,500,000 1,500,000 Stockholders' equity 160,000 290,000 Total liabilities and stockholders' equity $ 2,020,000 $ 2,100,000 Joel de Paris, Inc.Income Statement Sales $ 4,050,000 Operating expenses 3,645,000 Net operating income 405,000 Interest and taxes: Interest expense $ 150,000 Tax expense 110,000 260,000 Net income…
- Practice Problem Below are the balance sheet and income statement for Major, Inc. December 31 2007 2006Cash $ 29,700 $ 10,200 Accounts receivable (net) 53,400 20,300 Inventory 39,000 42,000 Long-term investments 0 15,000 Plant Assets, net of depreciation 180,900 125,000 Total Assets $303,000 $212,500Accounts payable $ 16,000 $ 26,500 Accrued liabilities 28,000 17,000 Long-term notes payable 40,000 50,000 Common stock 150,000 90,000 Retained earnings 69,000 29,000 Total Liabilities and Owner’s Equity $303,000 $212,500Year ended December 31, 2007Sales Revenue $340,000 Cost of Goods Sold (200,000) Operating Expenses (58,400) Depreciation Expense (10,600) Gain on sale of investments 4,000Net Income $ 75,000Additional information: A) In 2007, Major, Inc didn’t sell plant asset and didn’t purchase additional investment.B) In 2007, no shares were repurchased and no new debt was issued. 1. Prepare the Statement of Cash Flows…Easy Company provided the following statement of financial position at year-end and income statement for the current year: Current assets 130,000 Property, plant and equipment 500,000 Goodwill 100,000 Investment in associate 70,000 Total assets 80,000 Current liabilities 90,000 Noncurrent liabilities 60,000 Share capital 400,000 Retained earnings 250,000 Total liabilities and equity 800,000 Revenue 1,800,000 Cost of goods sold -1,200,000 Gross profit 600,000 Other income 60,000 Distribution cost -200,000 Administrative expenses -100,000 Other expenses -50,000 Finance cost -60,000 Share in profit of associate 10,000 Income before tax 260,000 Income tax expense -90,000 Net income 170,000 * The entity is organized for management purposes into three major operating segments, namely furniture, stationery and computer products. There are other smaller operating segments. External sales Furniture 800,000stationary 500,000computer products 400,000other segment 100,000 intersegment…Easy Company provided the following statement of financial position at year-end and income statement for the current year: Current assets 130,000 Property, plant and equipment 500,000 Goodwill 100,000 Investment in associate 70,000 Total assets 80,000 Current liabilities 90,000 Noncurrent liabilities 60,000 Share capital 400,000 Retained earnings 250,000 Total liabilities and equity 800,000 Revenue 1,800,000 Cost of goods sold -1,200,000 Gross profit 600,000 Other income 60,000 Distribution cost -200,000 Administrative expenses -100,000 Other expenses -50,000 Finance cost -60,000 Share in profit of associate 10,000 Income before tax 260,000 Income tax expense -90,000 Net income 170,000 * The entity is organized for management purposes into three major operating segments, namely furniture, stationery and computer products. There are other smaller operating segments. External sales Furniture 800,000stationary 500,000computer products 400,000other segment 100,000 intersegment…