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GABELLI COMPANY:Balance Sheet - Assignment Example

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GABELLI COMPANY:Balance Sheet

500
Total Current Liabilities
14,500
Common Stock
26,200
Retained Earnings
2,300
Shareholder's Equity
28,500
TOTAL LIABILITY & SHAREHOLDER'S EQUITY
43,000

(b) The company's first month operations was a success since it has earned a positive net income during this period.
(c) The company must have decided to pay dividend because it had sufficient cash balance and also a net operational income.

E2-5
Texas Instruments, Inc
Balance Sheet
31 December, 2004

$ in Millions
ASSETS

Cash
2,668
Accounts Receivable
1,696
Inventories
1,256
Prepaid Expenses
326
Other current assets
554
Total Current Assets
6,500
Property, plant & equipment - Net
3918
Long-term Investments
264
Short-term Investments
3,690
Total Net Fixed Assets
7,872
Other non-current assets
1,927
TOTAL ASSETS
16,299


LIABILITIES

Accounts Payable
1,444
Loan payable in 2005
11
Other Current Liabilities
470
Total Current Liabilities
1,925
Long Term Debt
368
Other Liabilities
943
Total Liabilities
3,236
Common Stock
2,488
Retained Earnings
10,575
Shareholder's Equity
13,063
TOTAL LIABILITY & SHAREHOLDER'S EQUITY
16,299

E2-11
(a) Is the rationale for why plant assets are not reported at liquidation value
2
(b) Indicates that business and personal record-keeping should be separately maintained
6
(c) Assumes that dollar is the measuring stick to report financial performance
3
(d) Separates financial information into time periods for reporting purpose
4
(e) Indicates that companies should not record in the accounts market value changes subsequent to purchase
5
(f) Dictates that companies should disclose all circumstances and events that make a difference to financial statement users
1

P2-4A
(a) Computation of Net Income and Earnings per share (EPS)

Arthur Corporation
Lancelot Corporation
Net...
Hence, an investor can enjoy higher returns by investing in Arthur Corporation rather than Lancelot Corporation.The net income as well as EPS of Arthur Corporation is higher than that of Lancelot Corporation. Hence, an investor can enjoy higher returns by investing in Arthur Corporation rather than Lancelot Corporation.Both companies have high levels of liquidity with a positive working capital and high current ratio. However, Arthur Corporation, with higher working capital and current ratio, has higher level of liquidity than Lancelot Corporation.Arthur Corporation appears to be more solvent when free cash flows of the two companies are considered. But Lancelot Corporation appears to be more solvent when the decision is based on Debt to total assets ratio. ...Show more
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The net income as well as EPS of Arthur Corporation is higher than that of Lancelot Corporation. Hence, an investor can enjoy higher returns by investing in Arthur Corporation rather than Lancelot Corporation…
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