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    CFMcorp

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    navimala85
    M Corporation's balance sheets from 2004 to 2005 show an increase in total assets from $2.756 billion to $3.112 billion, with current assets and fixed assets both rising. Total liabilities increased from $1.320 billion to $1.629 billion, while owners' equity grew from $1.920 billion to $2.269 billion. The 2005 income statement indicates M Corporation had $1.509 billion in sales and $412 million in net income, with $309 million added to retained earnings.

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    CFMcorp

    Uploaded by

    navimala85
    16 views1 page
    M Corporation's balance sheets from 2004 to 2005 show an increase in total assets from $2.756 billion to $3.112 billion, with current assets and fixed assets both rising. Total liabilities increased from $1.320 billion to $1.629 billion, while owners' equity grew from $1.920 billion to $2.269 billion. The 2005 income statement indicates M Corporation had $1.509 billion in sales and $412 million in net income, with $309 million added to retained earnings.

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    M Corporation's balance sheets from 2004 to 2005 show an increase in total assets from $2.756 billion to $3.112 billion, with current assets and fixed assets both rising. Total liabilities increased from $1.320 billion to $1.629 billion, while owners' equity grew from $1.920 billion to $2.269 billion. The 2005 income statement indicates M Corporation had $1.509 billion in sales and $412 million in net income, with $309 million added to retained earnings.

    Copyright:

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    Download as DOCX, PDF, TXT or read online from Scribd
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    16 views1 page

    CFMcorp

    Uploaded by

    navimala85
    M Corporation's balance sheets from 2004 to 2005 show an increase in total assets from $2.756 billion to $3.112 billion, with current assets and fixed assets both rising. Total liabilities increased from $1.320 billion to $1.629 billion, while owners' equity grew from $1.920 billion to $2.269 billion. The 2005 income statement indicates M Corporation had $1.509 billion in sales and $412 million in net income, with $309 million added to retained earnings.

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    M CORPORATION 2004 & 2005 Balance Sheets ($ in millions) 2004 Assets Current Assets Cash Accounts receivable Inventory

    Total Fixed assets Net plant & equipment Total assets Liabilities & Owners Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners equity Common stock & paid-in surplus Retained earnings Total Total liabilities & owners equity 2005

    104 455 553 1,112 1,644 2,756

    160 688 555 1,403 1,709 3,112

    232 196 428 408 600 1,320 1,920 2,756

    266 123 389 454 640 1,629 2,269 3,112

    M. CORPORATION 2005 Income Statement ($ in millions) Sales Cost of goods sold Depreciation Earnings before interest & taxes Interest paid Taxable income Taxes Net income Dividends Addition to retained earnings 1,509 750 65 694 70 624 212 412 103 309

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