Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Condensed balance sheet and income statement data for Grouper Corporation are presented here. GROUPER CORPORATION Balance Sheets December 31 2022 2021 Cash $31.000 $ 21,000

image text in transcribed
image text in transcribed
Condensed balance sheet and income statement data for Grouper Corporation are presented here. GROUPER CORPORATION Balance Sheets December 31 2022 2021 Cash $31.000 $ 21,000 Accounts receivable (net) 51,000 46,000 Other current assets 96,000 101,000 Investments 61,000 76,000 Plant and equipment (net) 500,000 370,000 $739,000 $614,000 Current liabilities $ 86,000 $ 81,000 Long-term debt 151,000 91.000 Common stock, $10 par 326,000 316,000 Retained earnings 176,000 126,000 $739,000 $614,000 2020 $ 19.000 49.000 70,000 51,000 358,000 $547,000 $ 71,000 56,000 306,000 114,000 $547,000 GROUPER CORPORATION Income Statements For the Years Ended December 31 2022 Sales revenue $746,000 Less: Sales returns and allowances 41,000 Net sales 705,000 Cost of goods sold 431.000 Gross profit 274,000 Operating expenses (including income taxes) 181.000 Net income $ 93,000 2021 $606,000 31,000 575.000 356,000 219,000 151,000 $ 68,000 Additional information: The market price of Grouper's common stock was $7.00. $7.50 and $8.50 for 2020 2021 and 2022. respectively, 2. You must compute dividends paid. All dividends were paid in cash. 1. Compute the following ratios for 2021 and 2022 2022 2021 Profit margin I Gross proftrate X 9 Asset turnover times times Earnings per share Price earnings ratio (Round answers to 1 decimal place, eg. 1.5%) (Round answers to 1 decimal place, e.3. 1.5%) (Round answers to 2 decimal places, s. 183.) (Round answers to 2 decimal places, eg, 1.83) (Round answers to 1 decimal place, c.8. 1.5.) (Round answers to decimal places, es. 15%) (Round answers to decimal places, c. 15%) times times Payout ratio 96 96 Debt to assets ratio 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

Financial Accounting

Authors: C. William Thomas, Wendy M Tietz

13th Edition

013689903X, 9780136899037

More Books

Students also viewed these Accounting questions