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Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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
Transcribed Image Text:Calculate the following ratios for Lake of Egypt Marina, Incorporated, as of year-end 2024.
Note: Use sales when computing the inventory turnover and use total stockholders' equity when computing the equity multiplier.
Round your answers to 2 decimal places. Use 365 days a year.
LAKE OF EGYPT MARINA, INCORPORATED
a. Current ratio
b. Quick ratio
c. Cash ratio
d. Inventory turnover
e. Days' sales in inventory
f. Average collection period
g. Average payment period
h. Fixed asset turnover
i. Sales to working capital
j. Total asset turnover
k. Capital intensity
I. Debt ratio
m. Debt-to-equity
n. Equity multiplier
times
times
times
times
days
days
days
times
times
times
times
%
times
times
times
times
%
%
o. Times interest earned
p. Cash coverage
q. Profit margin
r. Gross profit margin
s. Operating profit margin
t. Basic earnings power
%
%
u. ROA
%
v. ROE
%
w. Dividend payout
%
x. Market-to-book ratio
times
y. PE ratio
times

Transcribed Image Text:Use the following financial statements for Lake of Egypt Marina, Incorporated
LAKE OF EGYPT MARINA, INCORPORATED
Balance Sheet as of December 31, 2024 and 2023
(in millions of dollars)
2024
2023
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash and marketable securities
Accounts receivable
Inventory
$ 82
45
180
$ 48
Accrued wages and taxes
52
Accounts payable
92
Notes payable
Total
Fixed assets:
$ 307
$ 192
Total
Long-term debt:
Gross plant and equipment
$ 265
Less: Depreciation
70
40
Net plant and equipment
Other long-term assets
Total
$ 195
25
$ 184
24
$ 220
$ 208
Total
Total assets
$ 527
$ 224 Stockholders' equity:
Preferred stock (2 million shares)
Common stock and paid-in surplus (24 million shares)
Retained earnings
$ 400 Total liabilities and equity
Net sales (all credit)
Less: Cost of goods sold
Gross profits
LAKE OF EGYPT MARINA, INCORPORATED
Income Statement for Years Ending December 31, 2024 and 2023
(in millions of dollars)
2024
$ 600
216
$ 384
30
354
Less: Other operating expenses
Earnings before interest, taxes, depreciation, and amortization (EBITDA)
Less: Depreciation
Earnings before interest and taxes (EBIT)
Less: Interest
Earnings before taxes (EBT)
Less: Taxes
Net income
Less: Preferred stock dividends
Net income available to common stockholders
Less: Common stock dividends
Addition to retained earnings
Per (common) share data:
Earnings per share (EPS)
Dividends per share (DPS)
Book value per share (BVPS)
Market value (price) per share (MVPS)
2023
$ 400
120
$ 280
16
264
30
24
$ 240
24
20
$ 324
$ 300
$ 220
63
66
$ 154
$ 237
$ 2
$ 235
24
$ 211
$ 2
$ 152
24
$ 128
$ 9.792
$ 6.333
$ 1.000
$ 1.000
$ 14.125
$ 5.333
$ 15.300
$ 13.100
Calculate the following ratios for Lake of Egypt Marina, Incorporated, as of year-end 2024.
2024
2023
$ 40
$ 36
45
44
50
52
$ 135
$ 132
$ 51
$ 138
$ 2
$ 2
24
24
315
104
$ 341
$ 130
$ 527
$ 400
Note: Use sales when computing the inventory turnover and use total stockholders' equity when computing the equity multiplier.
Round your answers to 2 decimal places. Use 365 days a year.
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