uestion 1: Under standard accounting rules, it is possible for a company’s liabilities to exceed its assets. When this occurs, the owners’ equity is negative. Can this happen with market values? Wh

uestion 1:

Under standard accounting rules, it is possible for a company’s liabilities to exceed its assets.  When this occurs, the owners’ equity is negative.  Can this happen with market values?  Why or why not?

Question 2:

Sidewinder Inc. has sales of $634,000, costs of $328,000, depreciation expense of #37,000, interest expense of $38,000, depreciation expense of $73,000, interest expense of $38,000, at tax rate of 21 percent, and paid out $68,000 in dividends.

  1. Make an income statement for Sidewinder Inc. 
  2. What is net income for Sidewinder Inc.? 
  3. What is retained earnings for Sidewinder Inc.? 

Question 3:

Duke Energy is one of the world’s largest energy companies.  Go to the company’s homepage at www.duke-energy.com (Links to an external site.), follow the link to the investor’s page, and locate the annual reports.  What was Duke Energy’s net working capital for 2021?  Does this number seem low to you given Duke’s current liabilities?  Does this indicate that Duke Energy may be experiencing financial problems?  Why or why not?  

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