Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Comparative financial statements for The Oriole Company Ltd. are shown below. THE ORIOLE COMPANY LTD. Balance Sheet December 31 Assets 20242023 Current assets Cash Accounts

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Comparative financial statements for The Oriole Company Ltd. are shown below. THE ORIOLE COMPANY LTD. Balance Sheet December 31 Assets 20242023 Current assets Cash Accounts receivable Inventory Total current assets 333,507150,890290,609119,310 Property, plant, and equipment Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Income tax payable 1. All sales were on account. 2. The allowance for doubtful accounts was $5,823 in 2024 and $4,777 in 2023 . 3. On July 1, 2024, 4,190 shares were reacquired for $10 per share and cancelled. 4. In 2024,$4,930 of dividends were paid to the common shareholders. 5. Cash provided by operating activities was $336,911. 6. Cash used by investing activities was $157,309. Calculate all possible liquidity, solvency, and profitability ratios for 2024. (Round answers for collection period, days sales in inventory, operating cycle and free cash flow to 0 decimal places, e.g. 125. Round answer for earnings per share to 2 decimal places, e.g. 12.56. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Use 365 days for calculation. Do not round intermediate calculations.) Profitability Ratios 11. Gross profit margin 46.6% 12. Profit margin 12.6% 13. Asset turnover 2.0 times 14. Return on assets 25.4% 15. Return on shareholders' equity 40.4% 16. Earnings per share $3.81 17. Payout ratio 1.9 \%

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

Law And Order Review 1993 An Audit Of Crime Policing And Criminal Justice Issues

Authors: John Benyon

1st Edition

1874493901, 978-1874493907

More Books

Students also viewed these Accounting questions

Question

8. (Charless, Charles) ________ antivirus software is out of date.

Answered: 1 week ago