Answered step by step
Verified Expert Solution
Question
1 Approved Answer
es Some recent financial statements for Smolira Golf, Incorporated, follow. SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 Assets Current
es Some recent financial statements for Smolira Golf, Incorporated, follow. SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 Assets Current assets Cash 2021 Accounts receivable Inventory Total $ 20,231 $ 2,761 4,692 12,778 5,631 13,632 $ 21,820 Notes payable Other 2022 Liabilities and Owners' Equity Current liabilities $ 2,557 Accounts payable Total Long-term debt $ 4,158 $ 14,800 Owners' equity Fixed assets Common stock and paid-in surplus Accumulated retained earnings $ 45,500 15,729 Net plant and equipment Total assets $ 59,956 $ 86,585 Total $ 61,229 2021 $ 2,228 1,825 105 2022 $ 2,750 2,266 122 $ 5,138 $ 17,560 $ 45,500 40,207 $ 85,707 $ 80,187 $ 108,405 Total liabilities and owners' equity $ 80,187 $ 108,405 SMOLIRA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income $ 190,370 127,703 5,183 $ 57,484 1,280 $ 56,204 19,671 $ 36,533 Dividends $ 12,055 Retained earnings 24,478 Smolira Golf has 13,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2022 was $92. a. What is the price-earnings ratio? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. LWto th Sales LULL ENICOMIC STULCHICIT Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings $ 190,370 127,703 5,183 $ 57,484 1,280 $ 56,204 19,671 $ 36,533 $ 12,055 24,478 Smolira Golf has 13,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2022 was $92. a. What is the price-earnings ratio? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What is the price-sales ratio? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. c. What are the dividends per share? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. d. What is the market-to-book ratio at the end of 2022? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. a. Price-earnings ratio times times b. Price-sales ratio c. Dividends per share d. Market-to-book ratio times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started