Question
Condensed balance sheet and income statement data for Bramble Corporation are presented here. BRAMBLE CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 31,000
Condensed balance sheet and income statement data for Bramble Corporation are presented here.
BRAMBLE CORPORATION Balance Sheets December 31 | ||||||
---|---|---|---|---|---|---|
2022 | 2021 | 2020 | ||||
Cash | $ 31,000 | $ 21,000 | $ 19,000 | |||
Accounts receivable (net) | 51,000 | 46,000 | 49,000 | |||
Other current assets | 95,000 | 100,000 | 69,000 | |||
Investments | 60,000 | 75,000 | 50,000 | |||
Plant and equipment (net) | 500,000 | 370,000 | 358,000 | |||
$737,000 | $612,000 | $545,000 | ||||
Current liabilities | $ 86,000 | $ 81,000 | $ 71,000 | |||
Long-term debt | 150,000 | 90,000 | 55,000 | |||
Common stock, $10 par | 325,000 | 315,000 | 305,000 | |||
Retained earnings | 176,000 | 126,000 | 114,000 | |||
$737,000 | $612,000 | $545,000 |
BRAMBLE CORPORATION Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Sales revenue | $745,000 | $605,000 | ||
Less: Sales returns and allowances | 43,520 | 32,285 | ||
Net sales | 701,480 | 572,715 | ||
Cost of goods sold | 430,144 | 354,732 | ||
Gross profit | 271,336 | 217,983 | ||
Operating expenses (including income taxes) | 181,072 | 151,268 | ||
Net income | $ 90,264 | $ 66,715 |
Additional information:
1. | The market price of Brambles common stock was $7.00, $7.74, and $8.46 for 2020, 2021, and 2022, respectively. | |
2. | You must compute dividends paid. All dividends were paid in cash. |
(a) Compute the following ratios for 2021 and 2022. (Round earnings per share and asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%.)
2022 | 2021 | |||||
---|---|---|---|---|---|---|
Profit margin | enter Profit margin in percentages rounded to 1 decimal place | % | enter Profit margin in percentages rounded to 1 decimal place | % | ||
Gross profit rate | enter Gross profit rate in percentages rounded to 1 decimal place | % | enter Gross profit rate in percentages rounded to 1 decimal place | % | ||
Asset turnover | enter number of Asset turnover in times rounded to 2 decimal places | times | enter number of Asset turnover in times rounded to 2 decimal places | times | ||
Earnings per share | $enter Earnings per share in dollars rounded to 2 decimal places | $enter Earnings per share in dollars rounded to 2 decimal places | ||||
Price-earnings ratio | enter number of Price-earnings ratio in times rounded to 1 decimal place | times | enter number of Price-earnings ratio in times rounded to 1 decimal place | times | ||
Payout ratio | enter Payout ratio in percentages rounded to 1 decimal place | % | enter Payout ratio in percentages rounded to 1 decimal place | % | ||
Debt to assets ratio | enter Debt to assets ratio in percentages rounded to 1 decimal place | % | enter Debt to assets ratio in percentages rounded to 1 decimal place | % |
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