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Question: Problem 1: Plastics Inc. is a company that operates in four different divisions. The following information relating to each segment is available for 2016.
Sales revenue
Cost of goods sold
Operating expenses
Total expenses
Operating profit (loss)
Identifiable assets
Bottles
$ 65,000
$ 26,000
$8,000
$ 34,000
$31,000
$ 66,000
Containers
$ 95,000
$ 62,000
$ 48,000
$ 110,000
$ (15,000)
$ 80,000
Dollhouses
$620,000
$353,000
$140,000
$ 493,000
$ 127,000
$ 640,000
Silverware
$18,000
$ 8,000
$ 6,500
$14,500
$3,500
$36,000
Sales of segments Containers and Dollhouses included intersegment sales of $30,000 and $150,000, respectively.
Required: Determine which of the segments are reportable based on the following:
Revenue Test
Operating profit (loss) test
Identifiable assets test
Problem 2: The following information pertains to Walrus Inc.
Cash
$60,000
Accounts receivable
170,000
Inventory
100,000
Plant assets (net)
582,000
Total assets
$912,000
Accounts payable
$110,000
Accrued taxes and expenses payable
42,000
Long-term debt
120,000
Common stock ($10 par)
260,000
Paid-in capital in excess of par
50,000
Retained earnings
330,000
Total equities
Net sales (all on credit)
$2,000,000
1,400,000
Net income
Required: Compute the following: (ignore Avg for balance sheet accounts)
(a) Current ratio
(b) Inventory turnover
(c) Receivables turnover
(d) Book value per share
(e) Earnings per share
(f) Debt to total assets
(g) Profit margin on sales
(h) Return on common stock equity
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