Question
1,014,000 776,400 Inventory 736,000 681,000 Other current assets 381,350 247,000 Total current assets 2,490,350 2,121,850 Property, plant, & equipment, net 8,737,045 8,439,895 Total assets $11,227,395
1,014,000 | 776,400 | ||||
Inventory | 736,000 | 681,000 | |||
---|---|---|---|---|---|
Other current assets | 381,350 | 247,000 | |||
Total current assets | 2,490,350 | 2,121,850 | |||
Property, plant, & equipment, net | 8,737,045 | 8,439,895 | |||
Total assets | $11,227,395 | $10,561,745 | |||
Liabilities and Stockholders Equity | |||||
Current liabilities | $3,167,000 | $2,846,000 | |||
Long-term debt | 3,702,600 | 3,892,600 | |||
Total liabilities | 6,869,600 | 6,738,600 | |||
Preferred stock, $5 par value | 58,950 | 58,950 | |||
Common stock, $0.25 par value | 104,650 | 103,850 | |||
Retained earnings | 4,194,195 | 3,660,345 | |||
Total stockholders equity | 4,357,795 | 3,823,145 | |||
Total liabilities and stockholders equity | $11,227,395 | $10,561,745 |
Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year | |||||
---|---|---|---|---|---|
2020 | 2019 | ||||
Sales revenue (all on account) | $10,177,200 | $9,613,950 | |||
Cost of goods sold | 5,612,550 | 5,298,800 | |||
Gross profit | 4,564,650 | 4,315,150 | |||
Operating expenses | 2,840,250 | 2,634,150 | |||
Net operating income | 1,724,400 | 1,681,000 | |||
Interest expense | 300,400 | 308,650 | |||
Net income before taxes | 1,424,000 | 1,372,350 | |||
Income taxes (30%) | 427,200 | 411,705 | |||
Net income | $996,800 | $960,645 | |||
Dividends paid | |||||
Preferred dividends | 29,500 | 29,500 | |||
Common dividends | 433,450 | 413,100 | |||
Total dividends paid | 462,950 | 442,600 | |||
Net income retained | 533,850 | 518,045 | |||
Retained earnings, beginning of year | 3,660,345 | 3,142,300 | |||
Retained earnings, end of year | $4,194,195 | $3,660,345 |
Calculate the earnings per share (average of 410,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)
Earning per share | $enter the earning per share in dollars rounded to 2 decimal places per share |
Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)
Price/earnings ratio | enter the price to earnings ratio rounded to 1 decimal place |
Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)
Dividend payout ratio | enter the dividend payout ratio in percentages rounded to 1 decimal place % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started