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 3 Current assets: 4 Cash $1,050,000.00 $950,000.00 5 Marketable securities 301,000.00 420,000.00 6 Accounts receivable (net) 585,000.00 500,000.00 7 Inventories 420,000.00 380,000.00 8 Prepaid expenses 108,000.00 20,000.00 9 Total current assets $2,464,000.00 $2,270,000.00 10 Long-term investments 800,000.00 800,000.00 11 Property, plant, and equipment (net) 5,760,000.00 5,184,000.00 12 Total assets $9,024,000.00 $8,254,000.00 13 Liabilities 14 Current liabilities $880,000.00 $800,000.00 15 Long-term liabilities: 16 Mortgage note payable, 6%, $200,000.00 $0.00 17 Bonds payable, 4%, 3,000,000.00 3,000,000.00 18 Total long-term liabilities $3,200,000.00 $3,000,000.00 19 Total liabilities $4,080,000.00 $3,800,000.00 20 Stockholders’ Equity 21 Preferred 4% stock, $5 par $250,000.00 $250,000.00 22 Common stock, $5 par 500,000.00 500,000.00 23 Retained earnings 4,194,000.00 3,704,000.00 24 Total stockholders’ equity $4,944,000.00 $4,454,000.00 25 Total liabilities and stockholders’ equity $9,024,000.00 $8,254,000.00 Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 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 Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 8. Ratio of fixed assets to long-term liabilities 12. Return on total assets % % 14. Return on common stockholders’ equity % $ I got through 1-8, 9-11, and 13-18. I need help on 8,12, and 14
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 3 Current assets: 4 Cash $1,050,000.00 $950,000.00 5 Marketable securities 301,000.00 420,000.00 6 Accounts receivable (net) 585,000.00 500,000.00 7 Inventories 420,000.00 380,000.00 8 Prepaid expenses 108,000.00 20,000.00 9 Total current assets $2,464,000.00 $2,270,000.00 10 Long-term investments 800,000.00 800,000.00 11 Property, plant, and equipment (net) 5,760,000.00 5,184,000.00 12 Total assets $9,024,000.00 $8,254,000.00 13 Liabilities 14 Current liabilities $880,000.00 $800,000.00 15 Long-term liabilities: 16 Mortgage note payable, 6%, $200,000.00 $0.00 17 Bonds payable, 4%, 3,000,000.00 3,000,000.00 18 Total long-term liabilities $3,200,000.00 $3,000,000.00 19 Total liabilities $4,080,000.00 $3,800,000.00 20 Stockholders’ Equity 21 Preferred 4% stock, $5 par $250,000.00 $250,000.00 22 Common stock, $5 par 500,000.00 500,000.00 23 Retained earnings 4,194,000.00 3,704,000.00 24 Total stockholders’ equity $4,944,000.00 $4,454,000.00 25 Total liabilities and stockholders’ equity $9,024,000.00 $8,254,000.00 Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 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 Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 8. Ratio of fixed assets to long-term liabilities 12. Return on total assets % % 14. Return on common stockholders’ equity % $ I got through 1-8, 9-11, and 13-18. I need help on 8,12, and 14
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Question
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
|
|
|
3
|
Current assets:
|
|
|
4
|
Cash
|
$1,050,000.00
|
$950,000.00
|
5
|
Marketable securities
|
301,000.00
|
420,000.00
|
6
|
Accounts receivable (net)
|
585,000.00
|
500,000.00
|
7
|
Inventories
|
420,000.00
|
380,000.00
|
8
|
Prepaid expenses
|
108,000.00
|
20,000.00
|
9
|
Total current assets
|
$2,464,000.00
|
$2,270,000.00
|
10
|
Long-term investments
|
800,000.00
|
800,000.00
|
11
|
Property, plant, and equipment (net)
|
5,760,000.00
|
5,184,000.00
|
12
|
Total assets
|
$9,024,000.00
|
$8,254,000.00
|
13
|
Liabilities
|
|
|
14
|
Current liabilities
|
$880,000.00
|
$800,000.00
|
15
|
Long-term liabilities:
|
|
|
16
|
Mortgage note payable, 6%,
|
$200,000.00
|
$0.00
|
17
|
Bonds payable, 4%,
|
3,000,000.00
|
3,000,000.00
|
18
|
Total long-term liabilities
|
$3,200,000.00
|
$3,000,000.00
|
19
|
Total liabilities
|
$4,080,000.00
|
$3,800,000.00
|
20
|
|
|
|
21
|
|
$250,000.00
|
$250,000.00
|
22
|
Common stock, $5 par
|
500,000.00
|
500,000.00
|
23
|
Retained earnings
|
4,194,000.00
|
3,704,000.00
|
24
|
Total stockholders’ equity
|
$4,944,000.00
|
$4,454,000.00
|
25
|
Total liabilities and stockholders’ equity
|
$9,024,000.00
|
$8,254,000.00
|
Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts):
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 |
Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts):
8. Ratio of fixed assets to long-term liabilities | |
12. Return on total assets |
|
|
|
14. Return on common stockholders’ equity |
|
$
|
|
I got through 1-8, 9-11, and 13-18. I need help on 8,12, and 14 please and thank you! |
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