Advertisement
Not a member of Pastebin yet?
Sign Up,
it unlocks many cool features!
- Download: http://solutionzip.com/downloads/westward-corporation/
- The condensed financial statements of Westward Corporation for 2006 are presented below.
- Westward Corporation Westward Corporation
- Balance Sheet Income Statement
- December 31, 2006 For the Year Ended December 31, 2006
- Assets Revenues $2,000,000
- Current assets Expenses
- Cash and temporary Cost of goods sold 1,080,000
- investments $ 30,000 Selling and administrative
- Accounts receivable 70,000 expenses 495,000
- Inventories 120,000 Interest expense 30,000
- Total current assets 220,000 Total expenses 1,605,000
- Property, plant, and Income before income taxes 395,000
- equipment (net) 780,000 Income tax expense 140,000
- Total assets $1,000,000 Net income $ 255,000
- Liabilities and Stockholders’ Equity
- Current liabilities $ 80,000
- Long-term liabilities 300,000
- Common stockholders’ equity 620,000
- Total liabilities and
- stockholders’ equity $1,000,000
- Westward Corporation Westward Corporation
- Balance Sheet Income Statement
- December 31, 2005 For the Year Ended December 31, 2005
- Assets Revenues $2,500,000
- Current assets Expenses
- Cash and temporary Cost of goods sold 1,750,000
- investments $ 40,000 Selling and administrative
- Accounts receivable 90,000 expenses 500,000
- Inventories 150,000 Interest expense 30,000
- Total current assets 280,000 Total expenses 2,280,000
- Property, plant, and Income before income taxes 220,000
- equipment (net) 800,000 Income tax expense 77,000
- Total assets $1,080,000 Net income $ 143,000
- Liabilities and Stockholders’ Equity
- Current liabilities $ 140,000
- Long-term liabilities 320,000
- Common stockholders’ equity 620,000
- Total liabilities and
- stockholders’ equity $1,080,000
- 2. Perform horizontal and vertical analysis on Westward both income statement and balance sheet, show your results.
- 3. Assess the financial performance of Westward, given the analysis tools used above.
- Download: http://solutionzip.com/downloads/westward-corporation/
Advertisement
Add Comment
Please, Sign In to add comment
Advertisement