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21 The following income statement and balance sheets for Worlds of Fun are provided: Worlds of Fun Income Statement For the year-ended December 31,
21 The following income statement and balance sheets for Worlds of Fun are provided: Worlds of Fun Income Statement For the year-ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net Income $2,468,300 1,580,000 888,300 342,000 67,000 4,300 24,000 59,000 496, 300 $ 392,000 Assets Current assets Cash Accounts receivable Inventory worlds of Fun Balance Sheet December 31 2021 2020 Prepaid rent Long-term assets: Land Equipeent Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-ters liabilities: Notes payable Stockholders' equity Common stock Betained earnings Total liabilities and equity $ 126,000 98,000 210,000 13,000 $107,000 75,000 190,000 13,000 290,000 230,000 300,000 270,000 (78,000) (41,000) $1,039,000 $544,000 $ 51,000 $70,000 6,900 7,900 15,2001 12,300 430,000 530,000 280,000 200,000 259,900 137,800 $1,039,000 $844,000 Earnings per share for the year ended December 31, 2021, is $1.40. The closing stock price on December 31, 2021, is $36.80 Calculate the following profitability ratios for 2021 (Do not round intermediate calculations. Round your answers to 1 decimal place.)
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