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Westward Corporation

Dec 8th, 2013
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  1.  
  2. Download: http://solutionzip.com/downloads/westward-corporation/
  3. The condensed financial statements of Westward Corporation for 2006 are presented below.
  4. Westward Corporation Westward Corporation
  5. Balance Sheet Income Statement
  6. December 31, 2006 For the Year Ended December 31, 2006
  7. Assets Revenues $2,000,000
  8. Current assets Expenses
  9. Cash and temporary Cost of goods sold 1,080,000
  10. investments $ 30,000 Selling and administrative
  11. Accounts receivable 70,000 expenses 495,000
  12. Inventories 120,000 Interest expense 30,000
  13. Total current assets 220,000 Total expenses 1,605,000
  14. Property, plant, and Income before income taxes 395,000
  15. equipment (net) 780,000 Income tax expense 140,000
  16. Total assets $1,000,000 Net income $ 255,000
  17. Liabilities and Stockholders’ Equity
  18. Current liabilities $ 80,000
  19. Long-term liabilities 300,000
  20. Common stockholders’ equity 620,000
  21. Total liabilities and
  22. stockholders’ equity $1,000,000
  23. Westward Corporation Westward Corporation
  24. Balance Sheet Income Statement
  25. December 31, 2005 For the Year Ended December 31, 2005
  26. Assets Revenues $2,500,000
  27. Current assets Expenses
  28. Cash and temporary Cost of goods sold 1,750,000
  29. investments $ 40,000 Selling and administrative
  30. Accounts receivable 90,000 expenses 500,000
  31. Inventories 150,000 Interest expense 30,000
  32. Total current assets 280,000 Total expenses 2,280,000
  33. Property, plant, and Income before income taxes 220,000
  34. equipment (net) 800,000 Income tax expense 77,000
  35. Total assets $1,080,000 Net income $ 143,000
  36. Liabilities and Stockholders’ Equity
  37. Current liabilities $ 140,000
  38. Long-term liabilities 320,000
  39. Common stockholders’ equity 620,000
  40. Total liabilities and
  41. stockholders’ equity $1,080,000
  42. 2. Perform horizontal and vertical analysis on Westward both income statement and balance sheet, show your results.
  43. 3. Assess the financial performance of Westward, given the analysis tools used above.
  44.  
  45. Download: http://solutionzip.com/downloads/westward-corporation/
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