Here is the income statement for Waterway, Inc. Waterway, Inc. Income Statement For the Year Ended...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66488b0c660f4_21966488b0bcdd85.jpg)
Transcribed Image Text:
Here is the income statement for Waterway, Inc. Waterway, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $27,000 income taxes) Net income $414,000 218,000 196,000 112,000 $ 84,000 Additional information: 1. Common stock outstanding January 1, 2022, was 17,000 shares, and 21,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Waterway stock was $22 on December 31, 2022 3. Cash dividends of $22,000 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share $ (b) Price-earnings ratio (c) Payout ratio (d) Times interest earned times % times Here is the income statement for Waterway, Inc. Waterway, Inc. Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Expenses (including $10,000 interest and $27,000 income taxes) Net income $414,000 218,000 196,000 112,000 $ 84,000 Additional information: 1. Common stock outstanding January 1, 2022, was 17,000 shares, and 21,000 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Waterway stock was $22 on December 31, 2022 3. Cash dividends of $22,000 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share $ (b) Price-earnings ratio (c) Payout ratio (d) Times interest earned times % times
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Metro Credit Union in Charlottetown, Prince Edward Island, loaned $90,000 to David Mann on a six-month, 8% note. Record the following for Metro Credit Union: a. Lending the money on March 6. b....
-
Cellular Co. is negotiating with Breyer Co. to sell all of its assets to Breyer Co. Breyer Co. has inspected Cellulars plant and reviewed a significant amount of materials relating to Cellulars...
-
Select the best answer. 1. A key determinant as to whether, under Circular A133, a program is considered major or non-major is a. The overall size of the program as measured by total revenues,...
-
Define the terms current ratio and quick ratio. What does each ratio tell us?
-
The Sanchez Computer Center currently has an $11,900 balance in Accounts Receivable. Here is a current schedule of Accounts Receivable: Sanchez Computer Center Schedule of Accounts Receivable March...
-
Ozarko Limited, a leading pharmaceutical company, currently has a balance sheet that is as follows: (All figures presented in thousands of dollars) Liability Assets Long term Bonds $1,000 Fixed...
-
Bonita company had the following transactions during 2020: sales of $4400 on account, collected $2400 for services to be performed in 2021, paid $1640 cash in salaries, purchased airline tickets for...
-
What responsibilities do companies have regarding justice and care? Should business ethics be grounded on more concrete tenets? Why or why not?
-
What is the company's position on DEI? Do they have a clear policy or initiative around it? What actions could you take to ensure a diverse, inclusive, and equitable project team is assembled? What...
-
Avicorp has a $11.7 million debt issue outstanding, with a 5.9% coupon rate. The debt has semi-annual coupons, the next coupon is due in six months, and the debt matures in five years. It is...
-
6. A sled travels down a slope and up the side. At which point does it have its greatest kinetic energy? 7. When a car crashes into another, the energy transfer goes into what? 8. The skater has a...
-
Suppose the mass of a fully loaded module in which astronauts take off from the Moon is 10,400 kg. The thrust of its engines is 27,500 N. (Assume that the gravitational acceleration on the Moon is...
-
GASES Calculating mole fraction in a gas mixture A 5.00 L tank at 16.1 C is filled with 13.9 g of carbon dioxide gas and 16.9 g of sulfur tetrafluoride gas. You can assume both gases behave as ideal...
-
Extend Algorithms 3.4 and 3.5 to include as output the first and second derivatives of the spline at the nodes.
-
Total revenue for a perfectly competitive firm equals the _________ times the _________.
-
If perfectly competitive producers are currently making economic profits, the market supply curve will shift to the right over time as more firms _________ and existing firms _________.
-
As entry into a profitable industry pushes down the market price, producers will move from a situation where price _________ average total cost to one where price _________ average total cost.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App