PNG Company Comparative Balance Sheets For the year ended December 31 20X1 20X0 Current assets Cash $157,000 $105,000 Accounts receivable 49,000 62,000 Inventory 53,700 36,100 Prepaid rent 11,400 8,300 Total current assets $271,100 $211,400 Long-term assets Investment in bonds $30,000 $14,800 Land 216,300 184,200 Equipment (net) 114,500 137,900 Total long-term assets $360,800 $336,900 Total assets $631,900 $548,300 Current liabilities Accounts payable $61,300 $52,700 Interest payable 4,900 8,500 Income tax payable 15,400 12,600 Total current liabilities $81,600 $73,800 Long-term liabilities Bonds payable $173,800 $205,400 Stockholders' equity Common stock $183,500 $165,200 Retained earnings 193,000 103,900 Total liabilities and equity $631,900 $548,300 PNG Company Income Statement For the year ended December 31, 20X1 Revenues Sales revenue $2,380,000 Cost of goods sold 1,240,000 Gross profit $1,140,000 Expenses Operating expenses $899,600 Depreciation expense 23,400 Interest expense 19,000 Income tax expense 61,000 Total expenses $1,003,000 Net income $137,000 Additional Information for PNG Co. in 20X1: 1. All sales were on account. 2. Earnings per share were $2.00. 3. The closing stock price on 12/31/X1 was $15.40. 4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1. 4. What was PNG Company's return on equity for the year 20X1? 36.39% 74.66% 42.44% 274.82% 5. What was PNG Company's profit margin for the year 20X1? 12.02% 5.76% 36.39% 2.80%
PNG Company Comparative Balance Sheets For the year ended December 31 20X1 20X0 Current assets Cash $157,000 $105,000 Accounts receivable 49,000 62,000 Inventory 53,700 36,100 Prepaid rent 11,400 8,300 Total current assets $271,100 $211,400 Long-term assets Investment in bonds $30,000 $14,800 Land 216,300 184,200 Equipment (net) 114,500 137,900 Total long-term assets $360,800 $336,900 Total assets $631,900 $548,300 Current liabilities Accounts payable $61,300 $52,700 Interest payable 4,900 8,500 Income tax payable 15,400 12,600 Total current liabilities $81,600 $73,800 Long-term liabilities Bonds payable $173,800 $205,400 Stockholders' equity Common stock $183,500 $165,200 Retained earnings 193,000 103,900 Total liabilities and equity $631,900 $548,300 PNG Company Income Statement For the year ended December 31, 20X1 Revenues Sales revenue $2,380,000 Cost of goods sold 1,240,000 Gross profit $1,140,000 Expenses Operating expenses $899,600 Depreciation expense 23,400 Interest expense 19,000 Income tax expense 61,000 Total expenses $1,003,000 Net income $137,000 Additional Information for PNG Co. in 20X1: 1. All sales were on account. 2. Earnings per share were $2.00. 3. The closing stock price on 12/31/X1 was $15.40. 4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1. 4. What was PNG Company's return on equity for the year 20X1? 36.39% 74.66% 42.44% 274.82% 5. What was PNG Company's profit margin for the year 20X1? 12.02% 5.76% 36.39% 2.80%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
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PNG Company
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Comparative Balance Sheets
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For the year ended December 31
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20X1
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20X0
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Current assets
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Cash
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$157,000
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$105,000
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Accounts receivable
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49,000
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62,000
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Inventory
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53,700
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36,100
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Prepaid rent
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11,400
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8,300
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Total current assets
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$271,100
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$211,400
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Long-term assets
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Investment in bonds
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$30,000
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$14,800
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Land
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216,300
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184,200
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Equipment (net)
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114,500
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137,900
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Total long-term assets
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$360,800
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$336,900
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Total assets
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$631,900
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$548,300
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Current liabilities
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Accounts payable
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$61,300
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$52,700
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Interest payable
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4,900
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8,500
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Income tax payable
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15,400
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12,600
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Total current liabilities
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$81,600
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$73,800
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Long-term liabilities
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Bonds payable
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$173,800
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$205,400
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Common stock
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$183,500
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$165,200
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|
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193,000
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103,900
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Total liabilities and equity
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$631,900
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$548,300
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PNG Company
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Income Statement
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For the year ended December 31, 20X1
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Revenues
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Sales revenue
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$2,380,000
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Cost of goods sold
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1,240,000
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Gross profit
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$1,140,000
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Expenses
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|
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Operating expenses
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$899,600
|
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23,400
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Interest expense
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19,000
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Income tax expense
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61,000
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Total expenses
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$1,003,000
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Net income
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$137,000
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Additional Information for PNG Co. in 20X1:
1. All sales were on account.
2. Earnings per share were $2.00.
3. The closing stock price on 12/31/X1 was $15.40.
4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1.
4. What was PNG Company's return on equity for the year 20X1?
36.39%
74.66%
42.44%
274.82%
5. What was PNG Company's profit margin for the year 20X1?
12.02%
5.76%
36.39%
2.80%
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