Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: + Stargel Inc. Comparative Retained Earnings Statement For

Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts:image text in transcribed

image text in transcribed

image text in transcribed

+ Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 Retained earnings, January 1... $5,375,000 Net income.. 900,000 Total ..... $6,275,000 Dividends: On preferred stock $ 45,000 On common stock. 50,000 Total dividends.. $ 95,000 Retained earnings, December 31 $6,180,000 20Y1 $4,545,000 925,000 $5,470,000 $ 45,000 50,000 $ 95,000 $5,375,000 + Sales .. Cost of goods sold. Gross profit... Selling expenses Administrative expenses Total operating expenses Income from operations Other income... Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 $10,000,000 5,350,000 $ 4,650,000 $ 2,000,000 1,500,000 $ 3,500,000 $ 1,150,000 150,000 $ 1,300,000 170,000 $ 1,130,000 230,000 $ 900,000 20Y1 $9,400,000 4,950,000 $4,450,000 $1,880,000 1,410,000 $3,290,000 $1,160,000 140,000 $1,300,000 150,000 $1,150,000 225,000 $ 925,000 Other expense interest) Income before income tax Income tax expense Net income... Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 20Y2 20Y1 $ 500,000 1,010,000 740,000 1,190,000 250,000 $3,690,000 2,350,000 3,740,000 $9,780,000 $ 400,000 1,000,000 510,000 950,000 229,000 $3,089,000 2,300,000 3,366,000 $8,755,000 Assets Current assets: Cash ....... Marketable securities. Accounts receivable (net) Inventories Prepaid expenses Total current assets. Long-term investments.. Property, plant, and equipment (net) Total assets Liabilities Current liabilities.... Long-term liabilities: Mortgage note payable, 10%. Bonds payable, 10%.... Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.90 stock, $10 par. Common stock, $5 par... Retained earnings... Total stockholders' equity. Total liabilities and stockholders' equity. $ 900,000 $ 880,000 $ 200,000 1,500,000 $1,700,000 $2,600,000 $ 0 1,500,000 $1,500,000 $2,380,000 $ 500,000 500,000 6,180,000 $7,180,000 $9,780,000 $ 500,000 500,000 5,375,000 $6,375,000 $8,755,000 Current Liabilities Current Assets = Calculated Value 1. Working capital: Ratio Numerator : Denominator = Calculated Value 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of Fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield

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

Risk Management In Organisations An Integrated Case Study Approach

Authors: Margaret Woods

2nd Edition

1138632333, 9781138632332

More Books

Students also viewed these Accounting questions

Question

2. Do you agree that unions stifle creativity? Why or why not?

Answered: 1 week ago