Number of days' sales in inventory 8. Ratio of Fixed Assets to long-term Liabilities 9. Ratio of Liabilities to Stockholders Equity
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8. Ratio of Fixed Assets to long-term Liabilities
9. Ratio of Liabilities to
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- Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yieldThe income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Refer to the information for Somerville Company on the previous pages. Also, assume that the price per common share for Somerville is 8.10. Required: Compute the price-earnings ratio. (Note: Round the answer to two decimal places.)Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2, rounding to one decimal place, including percentages, except for per-share amounts: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield
- Computing Earnings per Share The income statement, statement of retained earnings, and balance sheet for Jeanette Company are as follows: Jeanette CompanyIncome StatementFor the Year Ended December 31, 20X2 Amount Percent Net sales $8,281,989 100.0% Less: Cost of goods sold (5,383,293) 65.0 Gross margin $2,898,696 35.0 Less: Operating expenses (1,323,368) 16.0 Operating income $1,575,328 19.0 Less: Interest expense (50,000) 0.6 Income before taxes $1,525,328 18.4 Less: Income taxes (40%)* (610,131) 7.4 Net income $915,197 11.0 * Includes both state and federal taxes. Jeanette CompanyStatement of Retained EarningsFor the Year Ended December 31, 20X2 Balance, beginning of period $1,979,155 Net income 915,197 Total $2,894,352 Preferred dividends (80,000) Dividends to common stockholders (201,887) Balance, end of period $2,612,465 Jeanette CompanyComparative Balance SheetsAt December 31,…Sanborn Corporation Comparative Income Statements in € For the Years Ended December 31, 20X8 and 20X7 20X8 20X7 Net Sales 3,276,800 3,146,400 Cost of goods (2,088,800) (2,008,400) Gross margin 1,188,000 1,138,000 Operating expenses Selling expenses (476,800) (518,000) General & administrative expenses (447,200) (423,200) Total operating expenses (924,000) (941,200) Income from operations 264,000 196,800 Interest expense (65,600) (39,200) Net income before taxes 198,400 157,600 Income taxes (62,400) (56,800) Net income after taxes 136,000 100,800 Earnings per share 3.40 2.52 Sanborn Corporation Comparative Balance Sheets in € December 31, 20X8 and 20X7 Assets 20X8 20X7 Liabilities & Stockholders' Equity 20X8 20X7 Fixed assets: Stockholders' equity: Property, plant and…Comparative Income Statements Consider the following income statement data from the Ross Company: Current Year Previous Year $525,000 $451,000 336,000 280,000 105,000 100,000 60,000 55,000 7,800 6,400 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Comparative Income Statements Sales Revenue Cost of Goods Sold Selling Expenses Administrative Expenses Total Income before Income Taxes Increase Current Year Previous Year (Decrease) $ $ $ $ $ $ Percent Change % % % % % % % % %
- Comparative Income StatementsConsider the following income statement data from the Ross Company: Current Year Previous Year Sales revenue $525,000 $450,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000 99,000 Administrative expenses 60,000 54,000 Income tax expense 7,800 5,400 Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANYComparative Income Statements Current Year Previous Year Increase(Decrease) PercentChange Sales Revenue Answer Answer Answer Answer Cost of Goods Sold Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Selling Expenses Answer Answer Answer Answer Administrative Expenses Answer Answer Answer Answer Total Answer Answer Answer Answer Income before Income Taxes Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer…a. Prepare a common-sized income statement comparing the results of operations for Dawg Electronics Company with the industry average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Dawg Electronics Dawg Electronics Electronics Industry Company Amount Company Percent Average Sales $3,750,000 100.0 % 100.0% Cost of goods sold (2,062,500) 550.0 % (61.0)% Gross profit $1,687,500 45.0 % 39.0% Selling expenses $(1,125,000) 0.3 % (23.0)% Administrative expenses (262,500) 0.7 % (10.0)% Total operating expenses $(1,387,500) 37.0 % (33.0)% Operating income $300,000 8.0 % 6.0% Other revenue and expense: Other revenue 15,000 0.4 % 3.0% Other expense (3,750) 0.1 % (1.0)% Income before income tax $311,250 8.3 % 8.0% Income tax expense (93,750) 25 % (2.5)% Net income $217,500 5.8 % 5.5%Common-Size Income StatementsConsider the following income statement data from the Ross Company: Current Year Previous Year Sales revenue $529,000 $454,000 Cost of goods sold 336,000 279,000 Selling expenses 109,000 103,000 Administrative expenses 64,000 58,000 Income tax expense 7,800 5,400 Prepare common-size income statements for each year. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). Note: Compute percentages for each "Total" (do not add prior percentage amounts to arrive at Totals). ROSS COMPANYCommon-Size Income Statements(Percent of Sales Revenue) Current Year Previous Year Sales Revenue Answer Answer Cost of Goods Sold Answer Answer Answer Answer Answer Answer Selling Expenses Answer Answer Administrative Expenses Answer Answer Total Answer Answer Income before Income Taxes Answer Answer Answer Answer Answer Answer Answer Answer PreviousSave AnswersNext
- Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…