Plastics Inc. is a company that operates in four different divisions. The follow
ID: 2366998 • Letter: P
Question
Plastics Inc. is a company that operates in four different divisions. The following information relating to each segment is available for 2013. 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 $912,000 Net sales (all on credit) $2,000,000 Cost of goods sold 1,400,000 Net income 120,000 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 equityExplanation / Answer
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