Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2018 2017 au 2010 Statement UL 10lancial PUSILIUI Assets Liabilities and Owners' Equity 2017 2018 2017 Current assets Current liabilities Cash $ 24,046 $ 24,
2018 2017 au 2010 Statement UL 10lancial PUSILIUI Assets Liabilities and Owners' Equity 2017 2018 2017 Current assets Current liabilities Cash $ 24,046 $ 24, 255 Accounts payable $ 23, 184 Accounts receivable 12,448 15, 235 Notes payable 12,000 Inventory 25,392 27,155 Other 11,571 Total $ 61,886 $ 66,645 Total $ 46,755 Long-term debt $ 80,000 Fixed assets Owners' equity Net plant and equipment $324,695 $365,734 Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $ 259,826 Total assets $386,581 $432,379 Total liabilities and owners' equity $386,581 $ 27,420 10,800 15,553 $ 53, 773 $ 95,000 $ 40,000 243,606 $283, 606 $432,379 EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales Cost of goods sold Depreciation Earnings before interest and tax Interest paid Taxable income Taxes (35%) Net income Dividends $ 20,000 Additions to retained earnings 23,780 $ 366,996 253,122 32,220 $ 81,654 14,300 $ 67,354 23,574 $ 43, 780 The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Do not include the percent sign (%). Round the final answer to 2 decimal places.) Total asset turnover is times. (Round the final answer to 3 decimal places.) Equity multiplier is (Round the final answer to 2 decimal places.) Using the Du Pont Identity, the company's ROE is percent. (Do not include the percent sign (%). Round the final answer to 2 decimal places.)
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