Use the Information That Follows Taken from Tyler Company's Financial

question 84

Essay

Use the information that follows taken from Tyler Company's financial statements for the years ending December 31, 2017 and 2016.
$\begin{array}{lc}\text { Balance Sheet Information }&2017&2016\\\text { Assets }\\ \text { Cash } & \$ 90&\$50 \\ \text { Accounts receivable } & 60&80 \\ \text { Inventory } & 40&80 \\\text { Land, building, and equipment } & \underline{230} & \underline{270}\\\text { Total Assets } & \underline{ \$ 420}& \underline{\$480} \\\end{array}$

$\begin{array}{lrr}\text { Liabilities and Shareholders' Equity }\\\text { Accounts payable } & \$ 5 & \$ 85 \\\text { Common stock } & 260 & 260 \\\text { Retained earnings } & \underline{155} & \underline{135 }\\\text { Total Liabilities \& Shareholders' Equity } & \$ \underline{420} & \$ \underline{480} \\\end{array}$

$\begin{array}{lrr}\text { Income Statement Information }\\ \text { Sale revenue } &\$850\\ \text { Cost of goods sold } & \underline{600}\\ \text {Gross profit } &\$250\\ \text { Operating expenses} & \underline{230}\\ \text {Net income } & \underline{\$20}\\\end{array}$



The industry in which Tyler operates has an average current ratio of 2.1 on December 31, 2017. Comment on Tyler's solvency compared to the industry average as measured by its current ratio.

Recognize and measure impairment of goodwill and other intangible assets.

Record and understand the significance of the additional paid-in capital in consolidation.

Calculate and understand the consolidation of financial statements including retained earnings, common stock, and trademarks.

Account for and understand the amortization of intangible assets.

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Definitions:

Stigmatized Individuals

Individuals who are negatively stereotyped based on characteristics considered to be socially unacceptable or inferior, leading to prejudice and discrimination.

Deviant Behavior

Actions or behaviors that violate the social norms or values of a group or society.

Norms of The Powerful

The standards and behaviors promoted and maintained by those in dominant positions in society, often reflecting and perpetuating their interests.

Social Structure

The organized pattern of social relationships and social institutions that together compose society.