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Compute the attached ratios. Can you please complete within one hour? Will tip well depending on how fast it can get done. Exercise 90 The
Compute the attached ratios. Can you please complete within one hour? Will tip well depending on how fast it can get done.
Exercise 90 The condensed financial statements of Marks Company for the years 2014-2015 are presented below: Marks Company Comparative Balance Sheets As of December 31, 2014 and 2015 2015 2014 Cash $394,000 $126,000 Accounts receivable (net) 360,000 301,000 Inventories 382,000 342,000 Plant and equipment 1,831,000 1,112,000 Accumulated (260,000) (194,000) depreciation $2,707,000 $1,687,000 Accounts payable Dividends payable Bonds payable Common stock ($10 par) Retained earnings $342,000 -0404,000 1,520,000 441,000 $2,707,000 $163,000 43,000 -01,200,000 281,000 $1,687,000 Additional data: Market value of stock at 12/31/15 is $80 per share. Marks sold 31,000 shares of common stock at par on July 1, 2015. Marks Company Condensed Income Statement For the Year Ended December 31, 2015 Sales revenue $2,420,000 Cost of goods sold 1,645,000 Gross profit Administrative and selling expenses Net income 775,000 500,000 $275,000 Compute the following financial ratios by placing the proper amounts for numerators and denominators. (Round per unit answers to 2 decimal places, e.g. 52.75.) $ (a) (b) Current ratio at 12/31/15 Acid test ratio at 12/31/15 $ $ $ $ (c) Accounts receivable turnover in 2015 $ $ (d) Inventory turnover in 2015 $ $ (e) Profit margin on sales in 2015 $ $ (f) Earnings per share in 2015 $ (g) Return on common stock equity in 2015 $ $ (h) Price earnings ratio at 12/31/15 (i) Debt to assets at 12/31/15 $ $ $ $ (j) Book value per share at 12/31/15Step by Step Solution
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