Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone help me calculate the dividends paid. I input $324 and $274 and neither is correct. Please show the steps. thank you! HW Saved

Can someone help me calculate the dividends paid. I input $324 and $274 and neither is correct. Please show the steps. thank you! image text in transcribed
image text in transcribed
HW Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not The following condensed information was reported by Peabody Toys, Inc., for 2021 and 2020: (s in thousands) 2021 2020 $ 6,900 374 $ 5,989 158 Income statement information Net sales Net income Balance sheet information Current assets Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities Common stock Retained earnings Liabilities and shareholders' equity $ 970 2,630 $ 3,600 $1,660 920 700 320 $ 3,600 $ 920 2,280 $ 3,200 $1,319 920 700 270 $ 3,200 Required: 1. Determine the following ratios for 2021: (Round your percentage answers to 1 decimal place.) 2. Determine the amount of dividends paid to shareholders during 2021. (Enter your answers in whole dollars, not example, $150,000 rather than 150.) Answer is complete but not entirely correct. 1a. 1b. 1c. 2. % % 5.4 11.0 37.6 274 X Profit margin on sales Return on assets Return on equity Dividends paid $ Next eck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completio Retu Balance sheet information Current assets Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities Common stock Retained earnings Liabilities and shareholders' equity $ 970 2,630 $ 3,600 $1,660 920 700 320 $3,600 $ 920 2,280 $ 3,200 $1,310 92e 700 270 $3,200 Required: 1. Determine the following ratios for 2021: (Round your percentage answers to 1 decimal place.) 2. Determine the amount of dividends paid to shareholders during 2021. (Enter your answers in whole dollars, not in thousands. For example, $150,000 rather than 150.) Answer is complete but not entirely correct. 1a 1b 1c 2. Profit margin on sales Return on assets Return on equity Dividends paid 5.4% 11.0% 37.6 % 274 s

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Auditing A Tool For Excellence

Authors: David Mills, J. Mills

1st Edition

041245890X, 978-0412458903

More Books

Students also viewed these Accounting questions