Question
Calculate the following: - Net income - Operating income - Total assets - Total Liabilities -...
Calculate the following:
- Net income
- Operating income
- Total assets
- Total Liabilities
- Total stockholders equity
- Gross revenue
- Net revenue
- Operating margin ratio
- Net profit margin ratio
- Estimated cash flow
- Times interest earned ratio
Prestige Worldwide - Trial balance as of December 31, 2018: Gross Service Revenue $ 115,981,250 Bad Debt Expense 2,655,000 (3,575,000) Discounts on Sales Salaries $ 55,825,000 Benefits 14,178,292 Administrative 4,342,500 Insurance 325,000 Interest 164,575 Depreciation 3,200,000 Maintenanсe 435,500 Purchased Services 6,146,500 Rent 2,240,000 Supplies 9,169,813 Utilities-Electricity 356,000 Cash and Cash Equivalents 9,545,000 Short-term Investments 2,750,000 7,125,000 Net Accounts Receivables $ Inventory Supplies $ 1,135,000 Property and Equipment 90,500,000 Accumulated Depreciation (43,500,000) Investment Income 94,500 Account Payable 2,375,000 Accrued Expenses 9,125,000 Notes Payable 16,515,000 Contributions Received by Prestige 1,000,000 Long-Term Debt 26,500,000 Retained Earnings 13,040,000 re
Answers
1) Net Income: Income Statement: G Ser. Revenue 115981250 add:Investment Income 94500 Gross Revenue 116075750 less: Discount on sales 3575000 Net Revenue 112500750 Less:Expenses: Bad Debt 2655000 Salaries 55825000 Benefits 14178292 Administrative 4342500 Insurance 325000 Interest 164575 Dep. 3200000 Maintenance 435500 Purchased services 6146500 Rent 2240000 Supplies 9169813 Utilities - Elec 356000 Total expenses 99038180 Net Income 13462570 2) operating income : Net income + interest expense operating income = 13462570 + 164575 = 13627145 3) Total Assets: Balance Sheet: cash & cash equi 9545000 ST Investment 2750000 net Acc Receivables 7125000 Inv. - supplies 1135000 Current assets 20555000 Property & Equip 90500000 Acc. Dep. -43500000 Total Assets 67555000 4) Total Liabilities: Acc Payable 2375000 Accrued Expenses 9125000 Notes Payable 16515000 Current Liabilities 28015000 Long term debt 26500000 Total liabilities= 54515000 5) Total Stockholders' Equity: Contributions received 1000000 retained earnings 13040000 add: Net Income 13462570 Total Stockholders' Equity 27502570 6) Gross Revenue = 116075750 ( as per Income statement) 7) Net Revenue = 112500750 8) Operating margin ratio = Operating margin / Net Sales Operating margin ratio = 13627145 / (115981250-3575000)=12.12% 9) Net profit margin ratio = 13462570/116075750 = 11.60% 10) Estimated cash flow = Net Revenue 112500750 add: Total expenses 99038180 Less:depreciation 3200000 Estimated cash flow 208338930 11) TIER = Operating Income / Interest expense 13627145/164575 = 82.8
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