Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need to figure out the market price per share of common stock, can anyone help?? Financial ratios for Galaxy United, Inc. Galaxy United, Inc.
I need to figure out the market price per share of common stock, can anyone help??
Financial ratios for Galaxy United, Inc. Galaxy United, Inc. 2009 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable income Less: Taxes Net income $627,800 521,400 11,200 95,200 10.100 $85,100 _28.900 $55,200 Galaxy United, Inc. 2008 and 2009 Balance Sheets 2008 2009 Cash $17,000 $24,700 Accounts rec. 54,100 56,700 Inventory 189,400 186,700 Sub-total $260.500 $268,100 Net fixed assets_261,300 279,400 Total $521.800 $547 500 Accounts payable Long-term debt Common stock Retained earnings 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120.700 131,800 Total $521,800 $547 500 * The par value of the common stock is $1 per share. There are 300.000 shares outstanding. Financial ratios for Galaxy United, Inc. Galaxy United, Inc. 2009 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable income Less: Taxes Net income $627,800 521,400 11,200 95,200 10.100 $85,100 _28.900 $55,200 Galaxy United, Inc. 2008 and 2009 Balance Sheets 2008 2009 Cash $17,000 $24,700 Accounts rec. 54,100 56,700 Inventory 189,400 186,700 Sub-total $260.500 $268,100 Net fixed assets_261,300 279,400 Total $521.800 $547 500 Accounts payable Long-term debt Common stock Retained earnings 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120.700 131,800 Total $521,800 $547 500 * The par value of the common stock is $1 per share. There are 300.000 shares outstandingStep 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