Royal Corporation - Balance Sheets
(dollars in thousands)
Current Assets
Cash and cash equivalents
Accounts Receivable
2023
2022
1,314,000
1,220,000
$91,000
$29,000
637,000
654,000
Inventories
586,000
537,000
Fixed Assets
863,000
833,000
Property, plant and equipment
1,517,000
1,394,000
(-) Accumulated Depreciation
654.000
561.000
Property, plant and equipment
863.000
833.000
ASSETS
2,177,000
2,053,000
TOTAL LIABILITIES & OWNER'S EQUITY
Accounts Payable
264,000
220,000
Accrued Expenses
193,000
190,000
Income taxes payable
75,000
71,000
Short Term Liabilities
532,000
481,000
Long Term Liabilities
479,000
520,000
Bonds Payable
479,000
520,000
TOTAL LIABILITIES
Owner's Equity
Coomon Stock
Retained Earnings
Total Liabilities & Owner's Equity
1,011,000
1,001,000
1,166,000
1,052,000
157,000
155,000
1,009,000
897,000
2,177,000
2,053,000
Royal Corporation - Income Statement - 2023
(dollars in thousands)
Sales
$3,638,000
(-) Cost of Goods Sold
-2,469,000
Gross Profit
1,169,000
(-) Operating Expenses
-941,000
Marketing & Sales Expenses 557,370
Administrative Expenses 383,630
EBIT
228,000
Non-operating items
Gain on sale of store
Earnings Before Tax
(-) Taxes
Net Profit After Tax
3000
231,000
-91,000
140,000
Assume the following facts with respect to Royal, Co.:
1. The company sold a store that had an original cost of $15 million and accumulated depreciation
of $10 million. The cash proceeds from the sale were $8 million. The gain on the sale was $3
million.
2. The company did not issue any new bonds during the year.
3. The company did not repurchase any of its own common stock during the year.
4. The company paid a cash dividend during the year.
