Use the following selected financial information for Wilcox Corporation to answer questions . Wilcox Corporation
Income Statement
For the Year Ended December 31,2015
Net sales Cost of goods sold Gross profit Operating expenses Operating profit Interest expense Earnings before taxes Income tax expense Net profit $2,8701,985$885620$26540$22580$145 Wilcox Corporation
Balance Sheet
December 31, 2015
Assets Current assets Cash Short-term investments Accounts receivable Inventory Total current assets Long-term assets Net PPE Goodwill Total assets $251570150260390210$860 Liabilities and stockholders’ equity Current liabilities Accounts payable Accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity Common stock and PIC Retained earnings Total stockholders’ equity Total liabilities and equity $854513024037080410490$860 WilcoxCorporation
Statement of Cash Flow Information
For the Year Ended December 31, 2015
Cash from operating activities Investing activities: Capital expenditures Acquisitions Financing activities: Proceeds from long-term borrowing Payments on long-term borrowing Payments of cash dividends Cash paid for interest Cash paid for income taxes $150$60$10$50$25$20$10$75
-Wilcox's average collection period is:
Revenues And Expenses
The income earned from normal business operations and the costs incurred to generate that income, respectively, within a specific period.
Translated Value
The value of a foreign asset, liability, or transaction expressed in the currency of another country after conversion using the appropriate exchange rate.
Functional Currency
The main form of money in the principal economic setting where a business functions and produces cash flows.
Currency Exchange Rates
Exchange rates for currencies dictate how much one currency can be swapped for another, affecting international commerce and investment.