Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2023, Kingsbury Manufacturing has net sales revenue of $624,000, cost of goods sold of $274,560, and all other expenses of $262,104. The net profit

In 2023, Kingsbury Manufacturing has net sales revenue of $624,000, cost of goods sold of $274,560, and all other expenses of $262,104. The net profit was $87,336 and the the profit margin was 14%. The other expenses of $262,104 are as follow: a. Operating expenses: $172,080 b. Interest expenses : $66,808 c. Income tax expense: $23,216 Answer the following: 1. What was the Gross Profit Margin (percentage) 2. What was the amount of operating income ($) 3. What was the times interest interest earned ratio 4. If the average number of common shares outstanding in 2023 was 50,000 and the preferred stock dividends were $10,000, what was EPS (earnings per share) for 2023? 5. If Kingsbury stock was trading at $65 at the year-end, what was the PE ratio for 2023

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

More Books

Students also viewed these Accounting questions

Question

What did Rogers mean by unconditional positive regard?

Answered: 1 week ago

Question

Explain the various employee benefit laws.

Answered: 1 week ago

Question

Describe the premium pay benefit practice.

Answered: 1 week ago