Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hyrkas Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $30 thousand. The market price of

Hyrkas Corporation's most recent balance sheet and income statement appear below:

Dividends on common stock during Year 2 totaled $30 thousand. The market price of common stock at the end of Year 2 was $6.90 per share. Required: Compute the following for Year 2:

1. Dividend yield ratio. 2. Return on total assets. 3. Return on equity. 4. Book value per share. image text in transcribed

Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Assets Year 2 Year 1 Current assets Cas Accounts receivable Inventory Prepaid expenses S 150 S 190 240 160 220 190 Total current assets Plant and equipment, net. Total assets 610 740 $1.340 S1350 580 760 Liabilities and Stockholders' Equity Current liabilities Accounts payable S 160 S 190 50 40 280 180 400 460 Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: 50 40 250 150 200 330 360 Common stock, $2 par value 200 330 Retained eamings.. Total stockholders' equity Total liabilities& stockholders' equity S1.340 $1.350 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) $1,200 730 470 335 135 Cost of goods sold Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income 114 34

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

13th Canadian Edition

1119740444, 9781119740445

More Books

Students also viewed these Accounting questions

Question

=+ What scenarios could draw the audience in?

Answered: 1 week ago

Question

=+ What graphics could stop the viewer?

Answered: 1 week ago