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877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $10,000,000 20Υ1 Sales.... ** Cost of goods sold. Gross profit. Selling expenses Administrative expenses. 5,350,000 $ 4,650,000 $ 2,000,000 $9,400,000 4,950,000 $4,450,000 $1,880,000 Total operating expenses Income from operations Other revenue.... 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 150,000 $ 1,300,000 140,000 $1,300.000 Other expense (interest) Income before income tax Income tax expense.... 170,000 $ 1,130,000 150.000 $1,150,000 230,000 225,000 Net income $ 900,000 $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Υ1 Assets Current assets: Cash Marketable securities $ 500,000 $ 400,000 1,010,000 1,000,000 Accounts receivable (net). 510,000 950,000 740,000 1,190,000 P...... Prepaid expenses... 250,000 229,000 Total current assets.. $3,690,000 $3,089,000 Long-term investments...... Property, plant, and equipment (net) Total assets 2,350,000 2,300,000 3,740,000 3,366,000 $9,780,000 $8.755,000 Liabilities Current liabilities. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%.. Bonds payable, 10%.... Total long-term liabilities Total liabilities... $ 200,000 %2. 1,500,000 $1,700,000 1,500,000 $1,500,000 $2,380,000 $2,600,000 Stockholders' Equity Preferred S0.90 stock, $10 par Common stock, $5 par. $ 500,000 $ 500,000 ...... 500,000 500,000 Retained earnings Total stockholders' equity 6,180,000 5,375,000 $7,180,000 $6,375,000 $8,755,000 Total liabilities and stockholders'equity. $9,780,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: e e an The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. PR 17-4B Measures of liquidity, solvency and profitability Foromparative Retained E e Years Ended December 31, 20Y2 and 20Y1 Stargel Incngs Statement Retained earnings, January 1 Net income Total.......... Dividends: Preferred stock dividends. Common stock dividends Total dividends... . . Retained earnings, December 31

877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $10,000,000 20Υ1 Sales.... ** Cost of goods sold. Gross profit. Selling expenses Administrative expenses. 5,350,000 $ 4,650,000 $ 2,000,000 $9,400,000 4,950,000 $4,450,000 $1,880,000 Total operating expenses Income from operations Other revenue.... 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 150,000 $ 1,300,000 140,000 $1,300.000 Other expense (interest) Income before income tax Income tax expense.... 170,000 $ 1,130,000 150.000 $1,150,000 230,000 225,000 Net income $ 900,000 $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Υ1 Assets Current assets: Cash Marketable securities $ 500,000 $ 400,000 1,010,000 1,000,000 Accounts receivable (net). 510,000 950,000 740,000 1,190,000 P...... Prepaid expenses... 250,000 229,000 Total current assets.. $3,690,000 $3,089,000 Long-term investments...... Property, plant, and equipment (net) Total assets 2,350,000 2,300,000 3,740,000 3,366,000 $9,780,000 $8.755,000 Liabilities Current liabilities. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%.. Bonds payable, 10%.... Total long-term liabilities Total liabilities... $ 200,000 %2. 1,500,000 $1,700,000 1,500,000 $1,500,000 $2,380,000 $2,600,000 Stockholders' Equity Preferred S0.90 stock, $10 par Common stock, $5 par. $ 500,000 $ 500,000 ...... 500,000 500,000 Retained earnings Total stockholders' equity 6,180,000 5,375,000 $7,180,000 $6,375,000 $8,755,000 Total liabilities and stockholders'equity. $9,780,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: e e an The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. PR 17-4B Measures of liquidity, solvency and profitability Foromparative Retained E e Years Ended December 31, 20Y2 and 20Y1 Stargel Incngs Statement Retained earnings, January 1 Net income Total.......... Dividends: Preferred stock dividends. Common stock dividends Total dividends... . . Retained earnings, December 31

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Number of days" sales in receivables 5. inancial Statement Analysis 6. Inventory tumover 6. Inventory turnover Number of days" sales in inventory 7. 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 8. Ratio of Fixed assets to long-tem liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 10. Times interest eamed 11. Asset turnover 11. Asset tumover 12. Return on total assets 12. Retum on total assets 13. Return on stockholders' equity Retum on stockholders 13. equity 14. Return on common stockholders' equity 14. Retum on common 15. Earnings per share on common stock stockholders' equity 16. Price-earnings ratio 17. Dividends per share of common stock 15. Eamings per share on common stock 16. Price eamings ratio 18. Dividend yield 17. Dividends per share of common stock 18. Dividend yield
Transcribed Image Text:Number of days" sales in receivables 5. inancial Statement Analysis 6. Inventory tumover 6. Inventory turnover Number of days" sales in inventory 7. 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 8. Ratio of Fixed assets to long-tem liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 10. Times interest eamed 11. Asset turnover 11. Asset tumover 12. Return on total assets 12. Retum on total assets 13. Return on stockholders' equity Retum on stockholders 13. equity 14. Return on common stockholders' equity 14. Retum on common 15. Earnings per share on common stock stockholders' equity 16. Price-earnings ratio 17. Dividends per share of common stock 15. Eamings per share on common stock 16. Price eamings ratio 18. Dividend yield 17. Dividends per share of common stock 18. Dividend yield
For the Years Ended December 31, 20Y2 and 20Y1 aiysis 877 Stargel Inc. Comparative Income Statement for the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Sales...* $10,000,000 $9,400,000 Cost of goods sold. Gross profit Selling expenses... Administrative expenses. Total operating expenses Income from operations. Other revenue.... 5,350,000 4,950,000 $ 4,650,000 $ 2,000,000 $4,450,000 $1,880,000 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 150,000 140,000 $ 1,300,000 $1,300,000 Other expense (interest) Income before income tax Income tax expense. 170,000 $ 1,130,000 150,000 $1,150,000 230.000 225,000 Net income $ 900,000 24925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Assets Current assets: Cash $ 500,000 $ 400,000 Marketable securities.. 1,010,000 1,000,000 Accounts receivable (net) 740,000 510,000 Inventories 1,190,000 950,000 Prepaid expenses 250,000 229,000 $3,089,000 Total current assets.. $3,690,000 Long-term investments Property, plant, and equipment (net) Total assets. 2,350,000 2,300,000 3,740,000 3,366,000 $9,780,000 $8,755,000 Liabilities Current liabilities. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%. Bonds payable, 10%.... $ 200,000 1,500,000 1,500,000 $1,500,000 Total long-term liabilities Total liabilities........ $1,700,000 $2,600,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par Common stock, $5 par. $ 500,000 500,000 500,000 Retained earnings. 6,180,000 $7,180,000 5,375,000 Total stockholders' equity... Total liabilities and stockholders' equity $6,375,000 $9,780,000 $8,755,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January Net income Total Dividends: Preferred stock dividends Common stock dividends. Total dividends. Retained earnings, December 31
Transcribed Image Text:For the Years Ended December 31, 20Y2 and 20Y1 aiysis 877 Stargel Inc. Comparative Income Statement for the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Sales...* $10,000,000 $9,400,000 Cost of goods sold. Gross profit Selling expenses... Administrative expenses. Total operating expenses Income from operations. Other revenue.... 5,350,000 4,950,000 $ 4,650,000 $ 2,000,000 $4,450,000 $1,880,000 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 150,000 140,000 $ 1,300,000 $1,300,000 Other expense (interest) Income before income tax Income tax expense. 170,000 $ 1,130,000 150,000 $1,150,000 230.000 225,000 Net income $ 900,000 24925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Assets Current assets: Cash $ 500,000 $ 400,000 Marketable securities.. 1,010,000 1,000,000 Accounts receivable (net) 740,000 510,000 Inventories 1,190,000 950,000 Prepaid expenses 250,000 229,000 $3,089,000 Total current assets.. $3,690,000 Long-term investments Property, plant, and equipment (net) Total assets. 2,350,000 2,300,000 3,740,000 3,366,000 $9,780,000 $8,755,000 Liabilities Current liabilities. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%. Bonds payable, 10%.... $ 200,000 1,500,000 1,500,000 $1,500,000 Total long-term liabilities Total liabilities........ $1,700,000 $2,600,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par Common stock, $5 par. $ 500,000 500,000 500,000 Retained earnings. 6,180,000 $7,180,000 5,375,000 Total stockholders' equity... Total liabilities and stockholders' equity $6,375,000 $9,780,000 $8,755,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January Net income Total Dividends: Preferred stock dividends Common stock dividends. Total dividends. Retained earnings, December 31
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