Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (20,000 shares outstanding) $ Year 1 179,000 9,700 169,300 50% 84,650 19,900 64,750 12,950 51,800 2.59 $ Year 2 251,000 19,900 231,100 35% 58,985 21,900 4,380 17,520 0.88
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- The 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.)Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
- 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 yieldQUESTION: I need to determine the following measures for 20Y2 for number 8 and 11-18 (Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working Capital $ 1,584,000.00 2. Current ratio 2.8 3. Quick ratio 2.2 4. Accounts receivable turnover 20.0 5. Number of days' sales in receivables 18.3 6. Inventory turnover 15.0 7. Number of days’ sales in inventory 24.3 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders’ equity 0.8 10. Times interest earned 8.7 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 % I posted below the Comparative Retained Earnings Statement,…QUESTION: I need to determine the following measures for 20Y2 for numbers 16-18 (Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working Capital $ 1,584,000.00 2. Current ratio 2.8 3. Quick ratio 2.2 4. Accounts receivable turnover 20.0 5. Number of days' sales in receivables 18.3 6. Inventory turnover 15.0 7. Number of days’ sales in inventory 24.3 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders’ equity 0.8 10. Times interest earned 8.7 11. Asset turnover 12. Return on total assets 13. Return on stockholders’ equity 14. Return on common stockholders’ equity %13.3 15. Earnings per share on common stock $5.90 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield I posted below the Comparative Retained Earnings Statement, Comparative…
- Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (20,000 shares outstanding) $ Year 1 179,000 $ 50% 19,900 2.59 Year 2 251,000 19,900 35% 21,900(b)Prepare a vertical analysis of the income statement data for Oriole Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) ORIOLE CORPORATIONCondensed Income Statementschoose the accounting period For the Years Ended December 31For the Month Ended December 31December 31 2022 2021 $ Percent $ Percent Net sales $632,300 enter percentages rounded to 1 decimal place % $544,800 enter percentages rounded to 1 decimal place % Cost of goods sold 456,600 enter percentages rounded to 1 decimal place % 415,500 enter percentages rounded to 1 decimal place % Gross Profit 175,700 enter percentages rounded to 1 decimal place % 129,300 enter percentages rounded to 1 decimal place % Operating expenses 74,100 enter percentages rounded to 1 decimal place % 44,500 enter percentages rounded to 1 decimal…Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
- ! Required information P6-4 (Algo) Preparing an Income Statement and Computing the Receivables Turnover Ratio with Discounts, Returns, and Bad Debts LO6-1, 6-2, 6-3 [The following information applies to the questions displayed below.] Tungsten Company, Incorporated, sells heavy construction equipment. There are 11,500 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, Current Year: Account Titles Cash Accounts receivable (net) Inventory, ending Operational assets. Accumulated depreciation Liabilities Capital stock Retained earnings, January 1, Current Year Sales revenue Sales returns and allowances Cost of goods sold Selling expense Administrative expense Bad debt expense Sales discounts Income tax expense Totals P6-4 Part 1 Debit $34,400 16,400 52,300 40,500 7,400 78,500 15,800 Credit $18,300 25,500 72,100 16,180 148,800 17,000 2,900 7,400 8,280 $280,880 $280, 880…Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 431,313 $ 330,421 259,650 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets 171,663 61,246 38,818 100,064 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity December 31 209,156 121,265 KORBIN COMPANY Comparative Balance Sheets 71,599 13,317 $ 58,282 $ 37,039 2021 45,598 29,077 74,675 46,590 9,551 $ 54,729 0 103,218 $ 157,947 $ 2019 229,300 146,752 82,548 30,268 19,032 49,300 33,248 6,749 $ 26,499 $ 19,550 71,000 8,875 31,781 2019 2020 $36,630 $ 48,966 700 93,876 $131,206 $ 108,704 4,660 55,078 $ 19,023…Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52