User Account

All Pages

Income statement and balance sheet for gerrard construction

Assignment Help Accounting Basics
Reference no: EM132084649

Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2013, financial statements:

  For the Year Ended December 31, 2013:
  Net revenues $ 33,400  
  Cost of services provided   11,400  
  Depreciation expense   6,500  
 
  Operating income $ 15,500  
  Interest expense   3,900  
  Income tax expense   3,600  
 
  Net income $ 8,000  
 
  At December 31, 2013:      
  Assets      
  Cash and short-term investments $ 2,800  
  Accounts receivable, net   10,400  
  Property, plant, and equipment, net   80,400  
 
  Total assets $ 93,600  
 
  Liabilities and Stockholders' Equity      
  Accounts payable $ 1,800  
  Income taxes payable   1,900  
  Notes payable (long term)   51,600  
  Paid-in capital   9,000  
  Retained earnings   29,300  
 
  Total liabilities and stockholders' equity $ 93,600

At December 31, 2012, total assets were $81,100 and total stockholders' equity was $30,900. There were no changes in notes payable or paid-in capital during 2013.

Required information

a. From the above income statement and balance sheet for Gerrard Construction Co. What other financial statements are required?

_____Statement of Cash flows _____Statement of changes in stockholders' equity _____Both statement of cash flows and statement of changes in stockholders' equity _____None

Reference no: EM132084649

Questions Cloud

Period of the industrial revolution : What are the similarities/differences in the uses of power in the medieval era, the period of the Industrial Revolution, and our own era?
Implement macros getstring and displaystring : Implement macros getString and displayString. The macros may use Irvine's ReadString to get input from the user, and WriteString to display output.
What do the nuremberg egg : What do the Nuremberg Egg and the smartphone have in common? How are they both the culminations and/or representations of the eras that produced them?
Colleagues reflect on the scientific culture of the time : How does her treatment by her colleagues reflect on the scientific culture of the time?
Income statement and balance sheet for gerrard construction : Income statement and balance sheet for Gerrard Construction Co. What other financial statements are required
Design a calendar using a skin : Design a calendar using a skin. Create a web page called Calendar.aspx in your Pages folder.
What was pauling contribution to molecular theory : What was Pauling's contribution to molecular theory? What other theories did he employ, and what problems did it solve? How did Pauling's work
Middle ages to the modern world : Why the Renaissance considered to be a bridge from the Middle Ages to the Modern World? Politically
Calculate glucos earnings per share : Calculate Gluco's earnings per share for 2013 that would have been reported in the 2013 annual report. Round your answer to 2 decimal places.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd