(solution) Statement Connections Examples Use the starting balance sheet,

(solution) Statement Connections Examples Use the starting balance sheet,

Would you please help me answer four statement connection exercises attached. I also attached the statement connections examples for reference. I don’t need to see the work I just need the answers to the four exercise problems in the statement connections exercise doc. 

Thank you 

Statement Connections Examples
Use the starting balance sheet, income statement, and the list of changes to answer the question.
Hopewell Corporation
Balance Sheet
As of December 31, 2015
(amounts in thousands)

Cash

29,000 Liabilities

24,000

Other
Assets

37,000 Equity

42,000

Total Assets 66,000

Total Liabilities &
Equity

66,000

Hopewell Corporation
Income Statement
January 1 to March 31, 2016
(amounts in thousands)

Revenue

7,500

Expenses

2,200

Net Income

5,300

Between January 1 and March 31, 2016:
1. Cash decreases by $300,000
2. Liabilities increase by $400,000
3. Paid-In Capital does not change
4. Dividends increases by $500,000
What is the value for Other Assets on March 31, 2016?
Please specify your answer in the same units as the financial statements.
Use the income statement and the list of changes to answer the question.
Dansko Integrated
Income Statement
January 1 to December 31, 2015
(amounts in thousands)

Revenue
Cost of Goods Sold (COGS)

8,500
2,550

Gross Income

5,950

Sales, General, & Administrative Expenses
(SG&A)

1,700

Depreciation Expense

800

Other Expenses

500

Earnings Before Interest & Taxes (EBIT)

2,950

Interest

90

Pre-Tax Income

2,860

Income Taxes

1,144

Net Income

1,716

Between January 1 and December 31, 2015:
1. Accounts Receivable decrease by $400,000
2. Accounts Payable increase by $900,000
3. Gross Property, Plant, & Equipment increase by $6,700,000
4. Long Term Debt decreases by $200,000
Assume no other changes
What is the Net Cash Flow?
Please specify your answer in the same units as the income statement.
Use the starting balance sheet and statement of cash flows to answer the question.
Nippon Technology
Balance Sheet
As of December 31, 2015
(amounts in thousands)

Cash

137,000 Accounts Payable

20,000

Accounts Receivable

32,000 Debt

36,000

Inventory

51,000 Other Liabilities

9,000

Property Plant & Equipment,
Gross

227,000 Total Liabilities

65,000

Accumulated Depreciation

73,000 Paid-In Capital

72,000

Property Plant & Equipment, Net 154,000 Retained Earnings

245,000

Other Assets

317,000

Total Assets

8,000 Total Equity
382,000

Total Liabilities &
Equity

Nippon Technology
Statement of Cash Flows
January 1 to March 31, 2016
(amounts in thousands)

Net Income

10,000

Depreciation

1,500

Decrease (Increase) in Accounts
Receivable

600

382,000

Decrease (Increase) in Inventory

(500)

Increase (Decrease) in Accounts Payable

800

Other Adjustments

0

Net Cash Flow from Operating Activities

12,400

Purchase of Property, Plant, & Equipment

(7,300)

Other Adjustments

0

Net Cash Flow from Investing Activities

(7,300)

Increase (Decrease) in Debt

(400)

Dividends

(200)

Other Adjustments

0

Net Cash Flow from Financing Activities

(600)

Net Cash Flow

4,500

What is the value for Total Assets on March 31, 2016?
Please specify your answer in the same units as the financial statements.
Use the balance sheets and information provided about revenue and expenses to answer the question.
Gulf Shipping Company
Balance Sheet
As of December 31, 2015
(amounts in thousands)

Cash

143,000 Accounts Payable

19,000

Accounts Receivable

41,000 Debt

32,000

Inventory

58,000 Other Liabilities

40,000

Property Plant & Equipment,
Gross

210,000 Total Liabilities

91,000

Accumulated Depreciation

62,000 Paid-In Capital

77,000

Property Plant & Equipment, Net 148,000 Retained Earnings

229,000

Other Assets

306,000

Total Assets

7,000 Total Equity
397,000

Total Liabilities &
Equity

397,000

Gulf Shipping Company
Balance Sheet
As of March 31, 2016
(amounts in thousands)

Cash
Accounts Receivable

145,000 Accounts Payable
39,000 Debt

24,000
41,000

Inventory

65,000 Other Liabilities

28,053

Property Plant & Equipment,
Gross

210,000 Total Liabilities

93,053

Accumulated Depreciation

63,200 Paid-In Capital

77,000

Property Plant & Equipment, Net 146,800 Retained Earnings

230,747

Other Assets

307,747

Total Assets

5,000 Total Equity
400,800

Total Liabilities &
Equity

400,800

Revenue and expenses information from January 1 to March 31, 2016 were:
Sales Revenue of $7,900,000
COGS of 20% of Sales
Interest of $100,000
Other Expenses of $300,000
SG&A of $1,580,000
Tax Rate of 38%
What is the net income in the first quarter of 2016?
Please specify your answer in the same units as the balance sheets.

Solution
Note: To see submitted exercise solution details, uncheck the 'Display all exercises' box and click the Show Solution button for the
desired exercise.
Overall: 0 Right. 4 Wrong.
Wrong. Your submitted solution is 0. The correct solution is 42,500.
Wrong. Your submitted solution is 0. The correct solution is -3,084.
Wrong. Your submitted solution is 0. The correct solution is 392,200.
Wrong. Your submitted solution is 0. The correct solution is 1,947.