07第7章答案-會(huì)計(jì)學(xué)資料文檔

SOLUTIONSTOCH7EXERCISE7-5Netsales$696,000Costofgoodssold409,200Grossprofit286,800Sellingexpense98,600Administrativeexpense116,000Incomefromoperations72,200Otherrevenuesandgains17,500Otherexpensesandlosses34,700Incomebeforeincometaxes55,00016,50016,500$38,50016,500$38,500NumberofCommon

SharesOutstanding

16,500$38,500NumberofCommon

SharesOutstanding

10,000EarningsperShare$3.85NetincomeEarningsperShare$3.85$38,500EXERCISE7-6(a)WilkinsonCorporationIncomeStatementFortheYearEndedDecember31,20xxRevenues$2,156,900$2,156,900300,00080,0002,536,900$2,156,900300,00080,000$2,156,900300,00080,0002,536,900GainonsaleofequipmentTotalrevenuesExpensesCostofgoodssold$1,499,900Sellingandadministrativeexpenses340,750Interestexpense90,000Incometaxexpense150,0002,080,650

$456,250TotalexpenseNetincome

2,080,650

$456,250(b)WilkinsonCorporation(b)IncomeStatement

FortheYearEndedDecember31,20xxNetsales$2,156,900Costofgoodssold1,499,900Grossprofit657,000Sellingandadministrativeexpenses340,750Incomefromoperations316,250Otherrevenuesandgains380,000Otherexpensesandlosses90,000Incomebeforeincometaxes606,250Incometaxexpense150,000Netincome$456,250Netincome+$456,250NetSales$2,156,900ProfitMargin

Percentage

21.15%EXERCISE7-7

CompanyTotalAssetsTotalCommonEquity=TotalDebtIntelCorporation$47,143$37,846=$9,297Johnson&Johnson$48,263$26,869二$21,394Motorola,Inc.$32,098$12,689=$19,409TotalDebtTotalAssets二DebttoTotalAssetsRatioIntelCorporation$9,297$47,143=19.72%Johnson&Johnson$21,394$48,263=44.33%Motorola,Inc.$19,409$32,098=60.47%NetincomeNetSales二ReturnonSalesIntelCorporation$5,641$30,141=18.72%Johnson&Johnson$7,197$41,862=17.19%Motorola,Inc.$893$27,058=3.30%NetReturnonTotal二TotalAssets一incomeAssetsIntelCorporation$5,641-r$47,143=11.97%Johnson&Johnson$7,1974-$48,263=14.91%Motorola,Inc.$893-r$32,098=2.78%NetCommonReturnonCommonincomeEquity一Stockholders'EquityIntelCorporation$5,641-r$37,846=14.91%Johnson&Johnson$7,197-r$26,869—26.79%Motorola,Inc.$893$12,689=7.04%IntelCorporationistheworld'slargestsemiconductorchipmaker,basedonrevenue.Inteldevelopsadvancedintegrateddigitaltechnologyproducts,primarilyintegratedcircuits,forindustriessuchascomputingandcommunications.Johnson&Johnsonanditssubsidiaries(the“Company")manufactureandsaleofabroadrangeofproductsinthehealthcarefield.TheCompanyconductsbusinessinvirtuallyallcountriesoftheworldwiththeprimaryfocusonproductsrelatedtohumanhealthandwell-being.TheCompanyisorganizedintothreebusinesssegments:Consumer,PharmaceuticalandMedicalDevicesandDiagnostics.Motorola,Inc.isanAmericanmultinationaltelecommunicationscompanybasedinSchaumburg,Illinois.EXERCISE7-8

TotalCompanyTotalAssets-Common=TotalDebtEquitySouthernCompany$35,045-$9,648=$25,397Toys,'RMUs,Inc$10,218-$4,222=$5,996IntelCorp.$47,143-$37,846=$9,297TotalDebtTotalAssets=DebttoTotalAssetsRatioSouthernCompany$25,397-r$35,045=72.47%Toys"R"Us,Inc$5,996-r$10,218=58.68%IntelCorp.SouthernCompanyToys,'R'*Us,IncIntelCorp.$9,297Netincome$1,474$229$5,641Netincome$47,143NetSales$11,251$11,305$30,141TotalAssets—19.72%ReturnonSales13.10%2.03%18.72%ReturnonTotalAssetsSouthernCompany$1,474$35,045—4.21%ToysUs,Inc$229$10,218=2.24%IntelCorp.$5,641$47,143=11.97%NetincomeCommonEquityReturnonCommonStockholders'EquitySouthernCompany$1,474$9,648=15.28%Toys"R'*Us,Inc$229$4,222=5.42%IntelCorp.$5,641$37,846=14.91%(b)BasedinAtlanta,SouthernCompanyisoneofthelargestgeneratorsofelectricityinthenation,servingbothregulatedandcompetitivemarketsacrossthesoutheasternUnitedStates.Toys"R"Us,Inc.operatesasaspecialtyretaileroftoysandjuvenileproducts.IntelCorporationistheworl