Question : 74. Harbinger Enterprises, Inc.The balance sheet taken from the 2012 10-K : 1224833

 

74. Harbinger Enterprises, Inc.The balance sheet taken from the 2012 10-K of Harbinger Enterprises is provided below. 

 

December 31

Assets:

2012

2011

Current Assets:

 

 

 

Cash

$   122,200

$108,000

 

Accounts receivable

45,000

35,000

 

Inventory

17,000

14,000

 

Other current assets

13,000

11,000

 

Total current assets

197,200

168,000

Long-term Assets:

 

 

 

Property, plant & equipment, net

1,489,800

50,000

 

Intangible assets

422,500

450,000

Total Assets

$2,109,500

$668,000

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

Current Liabilities:

 

 

 

Accounts payable

$     11,000

$    9,000

 

Interest payable

1,000

1,000

 

Current portion of long-term debt

30,000

0

 

Income tax payable

37,000

46,000

 

Total current liabilities

$     79,000

56,000

Long-term Liabilities:

 

 

 

Notes payable

492,500

30,000

 

Total liabilities

571,500

86,000

Stockholders’ Equity

 

 

 

Common stock

120,000

70,000

 

Additional paid-in capital

1,308,000

372,000

 

Retained earnings

185,000

140,000

 

Treasury stock

(75,000)

0

 

Total stockholders’ equity

1,538,000

582,000

Total Liabilities and Stockholders’ Equity

$2,109,500

$668,000

 

 

 

 

Refer to the balance sheet for Harbinger Enterprises. Prepare Harbinger’s common-size balance sheet to be used in vertical analysis. Your answers should be expressed as percentages and rounded to two decimal places.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

75. Harbinger Enterprises, Inc.The balance sheet taken from the 2012 10-K of Harbinger Enterprises is provided below. 

 

December 31

Assets:

2012

2011

Current Assets:

 

 

 

Cash

$   122,200

$108,000

 

Accounts receivable

45,000

35,000

 

Inventory

17,000

14,000

 

Other current assets

13,000

11,000

 

Total current assets

197,200

168,000

Long-term Assets:

 

 

 

Property, plant & equipment, net

1,489,800

50,000

 

Intangible assets

422,500

450,000

Total Assets

$2,109,500

$668,000

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

Current Liabilities:

 

 

 

Accounts payable

$     11,000

$    9,000

 

Interest payable

1,000

1,000

 

Current portion of long-term debt

30,000

0

 

Income tax payable

37,000

46,000

 

Total current liabilities

$     79,000

56,000

Long-term Liabilities:

 

 

 

Notes payable

492,500

30,000

 

Total liabilities

571,500

86,000

Stockholders’ Equity

 

 

 

Common stock

120,000

70,000

 

Additional paid-in capital

1,308,000

372,000

 

Retained earnings

185,000

140,000

 

Treasury stock

(75,000)

0

 

Total stockholders’ equity

1,538,000

582,000

Total Liabilities and Stockholders’ Equity

$2,109,500

$668,000

 

 

 

 

Refer to the balance sheet for Harbinger Enterprises. Calculate Harbinger’s short-term liquidity ratios for 2012 and 2011, including the Current Ratio and Quick Ratio. Harbinger’s cash flows from operations were $151,000 and $101,000 for 2012 and 2011, respectively. Round your answers to two decimal places, then comment on Harbinger’s short-term liquidity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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