Using Information in the Income Statement and Balance Sheets Below

question 60

Essay

Using information in the income statement and balance sheets below:
(A)determine the missing amounts.(B)Calculate the debt-to-assets ratio as of December 31,2007.(C)Calculate the asset turnover ratio and the net profit margin ratio for the year 2007.
CINNAMON AND SPICE, INC.
Income Statement For the Year Ended December 31, 2007
(in thousands of dollars)
$\begin{array}{lr}\text { Revenues }\\\text { Sales Revenue }&\$318,020\\\text { Expenses }\\\text { Cost of Goods Sold } & 214,900 \\\text { Advertising and Promotion Expenses } & 12,200 \\\text { Other Selling and Administrative Expenses } & ? \\\text { Interest Expense } & 25,600 \\\text { Income Tax Expense } & 17,700 \\\text { Other Expenses } & 33,700\\\text { Total Expenses }&332,600\\\\\text { Net Income }&\$\_\_\_?\end{array}$ CINNAMON AND SPICE, INC.
Balance Sheets
At December 31, 2007 and 2006
(in thousands of dollars)
$\begin{array}{lrr}&\underline{12 / 31 / 07}&\underline{12 / 31 / 06}\\\text { Assets } & & \\\text { Cash } & \$ 681,200 & \$ 543,800 \\\text { Accounts Receivable } & 356,400 & 407,600 \\\text { Inventories } & ?& 54,900 \\\text { Property, Plant and Equipment } & 126,900 & 119,300 \\\text { Other Assets } & 75,600 & 71,400\\\text { Total Assets }&\$1,304,500&?\\\\\text { Liabilities } & & \\\text { Accounts Payable } & \$ ? & \$ ? \\\text { Notes Payable } & 235,800 & 265,100 \\\text { Total Liabilities }&?&?\\\\\text { Shareholders' Equity } & & \\\text { Contributed Capital } & ? & ? \\\text { Retained Earnings } & 168.400 & 127,300\\\text { Total Shareholders' Equity }&789,400&589,400\\\\\text { Total Liabilities and }\\\text { Shareholders' Equity }&\$ 1,304,500 &\$ 1,197,000\end{array}$

Describe the characteristics and roles of learning organizations.

Comprehend the concept of an identity gap in the context of organizational change.

Identify the factors that lead to resistance to change and strategies for overcoming it.

Recognize the role and characteristics of change agents in organizational change.

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Definitions:

Combined Payment Plan

A payment strategy that combines different methods or periods of payments into one structured plan.

Total Compensation

The complete package of salary, benefits, bonuses, and other financial and non-financial rewards provided to employees in return for their work.

Strategic Basis

The foundational approach or rationale underlying the formulation of strategies within an organization or project.

Scanlon Plan

A participative management method that focuses on productivity improvement and labor cost savings, with financial benefits shared among employees.