41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $220,000 96,000 $ 187,000 92,000 124,000 95,000 58,000 50,600 6,200 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 62,000 127,550 103, 200 70, 460 $ 301,210 38,200 11,460 $ 26,740 $ 16,000 34,000 60,000 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 103, 200 37,400 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 1-a. Compute the gross profit percentage in the current and previous years. (Round percentage values to 1 decimal place.) 1-b. Are the current-year results better, or worse, than those for the previous year? 1-a. Current Year 1-a. Previous Year 1-b. Current year gross profit percentage? % < Required 1 Required 2 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $220,000 96,000 $ 187,000 92,000 124,000 95,000 58,000 50,600 6,200 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 62,000 127,550 103, 200 70, 460 $ 301,210 38,200 11,460 $ 26,740 $ 16,000 34,000 60,000 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 103, 200 37,400 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 2-a. Compute the net profit margin for the current and previous years. (Round percentage values to 1 decimal place.) 2-b. Are the current-year results better, or worse, than those for the previous year? 2-a. Current Year % 2-a. Previous Year 2-b. Current year net profit margin? < Required 1 Required 3 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $220,000 96,000 $ 187,000 92,000 124,000 95,000 58,000 50,600 6,200 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 62,000 127,550 103, 200 70, 460 $ 301,210 38,200 11,460 $ 26,740 $ 16,000 34,000 60,000 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 103, 200 37,400 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 3-a. Compute the earnings per share for the current and previous years. (Round your answers to 2 decimal places.) 3-b. Are the current-year results better, or worse, than those for the previous year? 3-a. Current Year 3-a. Previous Year 3-b. Current year EPS? < Required 2 Required 4 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $220,000 96,000 $ 187,000 92,000 124,000 95,000 58,000 50,600 6,200 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 62,000 127,550 103, 200 70, 460 $ 301,210 38,200 11,460 $ 26,740 $ 16,000 34,000 60,000 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 103, 200 37,400 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 4-a. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. (Round percentage values to 1 decimal place.) 4-b. Are the current-year results better, or worse, than those for the previous year? 4-a. Current Year 4-a. Previous Year 4-b. Current year return on equity ratio? % % < Required 3 Required 5 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $220,000 96,000 $ 187,000 92,000 124,000 95,000 58,000 50,600 6,200 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 62,000 127,550 103, 200 70, 460 $ 301,210 38,200 11,460 $ 26,740 $ 16,000 34,000 60,000 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 103, 200 37,400 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 5-a. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. (Round your answers to 2 decimal places.) 5-b. Are the current-year results better, or worse, than those for the previous year? 5-a. Current Year 5-a. Previous Year 5-b. Current year fixed asset turnover? < Required 4 Required 6 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $ 220,000 96,000 124,000 58,000 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 $ 187,000 92,000 95,000 50,600 6, 200 38, 200 11,460 $ 26,740 $ 16,000 34,000 60,009 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 62,000 127,550 103,200 70,460 103, 200 37,400 $ 301,210 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 6-a. Compute the debt-to-assets ratios for the current and previous years. (Round your answers to 2 decimal places.) 6-b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 6-a. Current Year 6-a. Previous Year 6-b. Current year debt-to-assets ratio? < Required 5 Required 7 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $ 220,000 96,000 124,000 58,000 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 $ 187,000 92,000 95,000 50,600 6, 200 38, 200 11,460 $ 26,740 $ 16,000 34,000 60,009 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 62,000 127,550 103,200 70,460 103, 200 37,400 $ 301,210 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 7-a. Compute the times interest earned ratios for the current and previous years. (Round your answers to 1 decimal place.) 7-b. Are the current-year results better, or worse, than those for the previous year? 7-a. Current Year 7-a. Previous Year 7-b. Current year times interest earned ratio? < Required 6 Required 8 > 41 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Current Year Previous Year $ 220,000 96,000 124,000 58,000 6,200 59,800 17,940 $ 41,860 $ 98,210 39,000 47,000 117,000 $ 301,210 $ 64,000 1,550 $ 187,000 92,000 95,000 50,600 6, 200 38, 200 11,460 $ 26,740 $ 16,000 34,000 60,009 127,000 $ 237,000 $ 32,800 1,600 62,000 96,400 62,000 127,550 103,200 70,460 103, 200 37,400 $ 301,210 $ 237,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 4. Stockholders' equity totaled $122,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $132,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 8. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Minion's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 8-a. After Minion Industries released its current year's financial statements, the company's stock was trading at $40. After the release of its previous year's financial statements, the company's stock price was $37 per share. Compute the P/E ratios for both years. (Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place.) 8-b. Does it appear that investors have become more (or less) optimistic about Minion's future success? 8-a. Current Year 8-a. Previous Year 8-b. Current year P/E ratio? < Required 7 Required & Show less A