Question
Condensed balance sheet and income statement data for Grouper Corporation are presented here. GROUPER CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 31,000
Condensed balance sheet and income statement data for Grouper Corporation are presented here.
GROUPER 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 | 96,000 | 101,000 | 70,000 | |||
Investments | 61,000 | 76,000 | 51,000 | |||
Plant and equipment (net) | 500,000 | 370,000 | 358,000 | |||
$739,000 | $614,000 | $547,000 | ||||
Current liabilities | $ 86,000 | $ 81,000 | $ 71,000 | |||
Long-term debt | 151,000 | 91,000 | 56,000 | |||
Common stock, $10 par | 326,000 | 316,000 | 306,000 | |||
Retained earnings | 176,000 | 126,000 | 114,000 | |||
$739,000 | $614,000 | $547,000 |
GROUPER CORPORATION Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Sales revenue | $746,000 | $606,000 | ||
Less: Sales returns and allowances | 41,000 | 31,000 | ||
Net sales | 705,000 | 575,000 | ||
Cost of goods sold | 431,000 | 356,000 | ||
Gross profit | 274,000 | 219,000 | ||
Operating expenses (including income taxes) | 181,000 | 151,000 | ||
Net income | $ 93,000 | $ 68,000 |
Additional information:
1. | The market price of Groupers 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. |
Compute the following ratios for 2021 and 2022.
2022 | 2021 | |||||||
---|---|---|---|---|---|---|---|---|
Profit margin | enter percentages | % | enter percentages | % | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
Gross profit rate | enter percentages | % | enter percentages | % | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
Asset turnover | enter asset turnover in times | times | enter asset turnover in times | times | (Round answers to 2 decimal places, e.g. 1.83.) | |||
Earnings per share | $enter earnings per share in dollars | $enter earnings per share in dollars | (Round answers to 2 decimal places, e.g. 1.83.) | |||||
Price-earnings ratio | enter price-earnings ratio in times | times | enter price-earnings ratio in times | times | (Round answers to 1 decimal place, e.g. 1.5.) | |||
Payout ratio | enter percentages | % | enter percentages | % | (Round answers to 0 decimal places, e.g. 15%.) | |||
Debt to assets ratio | enter percentages | % | enter percentages | % | (Round answers to 0 decimal places, e.g. 15%.) |
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