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Assets 2021 2022 Difference Cash 12,500 69,900 57,400 Accounts Receivable 36,000 31,000 (5,000) Inventory 51,400 46,400 (5,000) Prepaid Expenses 2,600 3,200 600 Furniture 60,000 55,000
Assets | 2021 | 2022 | Difference |
Cash | 12,500 | 69,900 | 57,400 |
Accounts Receivable | 36,000 | 31,000 | (5,000) |
Inventory | 51,400 | 46,400 | (5,000) |
Prepaid Expenses | 2,600 | 3,200 | 600 |
Furniture | 60,000 | 55,000 | (5,000) |
Accumulated Depr. - Furniture | (5,000) | (9,000) | (4,000) |
Total Assets | 157,500 | 196,500 | |
Liabilities & Stockholder's Equity | |||
Accounts Payable | 24,000 | 23,000 | (1,000) |
Income tax payable | 4,800 | 4,200 | (600) |
Notes Payable (Long term) | 35,000 | 37,000 | 2,000 |
Common Stock $10 par value | 90,000 | 115,000 | 25,000 |
Retained Earnings | 3,700 | 17,300 | 13,600 |
Total Liabilities & S/E | 157,500 | 196,500 | |
Kenley Corporation | |||
Income Statement | |||
June 30, 2022 | |||
Sales | 284,000 | ||
Cost of Goods Sold | 206,000 | ||
Gross Profit | 78,000 | ||
Operating Expenses | 45,000 | ||
Operating Income | 33,000 | ||
Interest expense | 2,800 | ||
Income before income taxes | 30,200 | ||
Income tax expense | 12,300 | ||
Net Income | 17,900 | ||
Paid dividends of $13,500 |
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Market Price $14.85 |
Find the following ratios for 2022: 1. Current Ratio 2. Quick Ratio 3. Accounts Receivable Turnover 4. Days to Collect 5. Inventory Turnover 6. Days on hand 7. Payable Turnover 8. Days to pay 9. Debt to Equity Ratio 10. Number of times interest Earned 11. Profit Margin 12. Assets Turnover 13. Return on Assets 14. Return on Equity 15. Earnings per Share 16. Price/Earnings Ratio 17. Dividend Yield |
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