Income Statement Succeed's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 2023 42,400 $ 41,100 Net Sales Revenue Cost of Goods Sold 22,500 24,900 Interest Expense 700 320 All Other Expenses 6,900 7,800 $ 12,300 $ 8,080 Net Income - Balance Sheets Succeed's Companies Balance Sheet May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 Cash 2,500 $ 1,200 Total Current Liabilities $ 21,000 $ 12,900 10,600 Short-term Investments 29,000 14,000 Long-term Liabilities 13,300 Accounts Receivable 7,200 5,500 Total Liabilities 34,300 23,500 Merchandise Inventory 7,200 Stockholders' Equity 6,300 2,100 Common Stock Other Current Assets 9,000 13,000 38,600 13,000 21,600 Total Current Assets 54,900 All Other Assets 31,000 29,100 Retained Earnings 29,000 Total Equity 58,100 Total Liabilities and Equity 51,600 34,600 $ 85,900 $ $ 85,900 $ 58,100 Total Assets Succeed's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Succeed's has 30,000 common shares outstanding during 2024. Read the requirements Requirement 1. Compute earnings per share (EPS) for 2024 for Succeed's. Round to the nearest cent. Begin by selecting the formula to calculate Succeeds Companies' EPS. Then enter the amounts and calculate the EPS for 2024. (Abbreviation used: Weighted avg number of CSO = weighted average number of common shares outstanding, market price per share of CS = market price per share of common stock. Complete all input boxes. Enter a "' for balance with a zero value. Round your answer to the nearest cent, $X.XX.) Net income EPS ) 0.62 Requirement 2. Compute Succeed's Companies' price/earnings ratio for 2024. The market price per share of Succeed's stock is $16.00 Begin by selecting the formula to calculate Succeeds Companies' price/earnings ratio. Then enter the amounts and calculate the EPS for 2024. (Abbreviation used: Weighted avg number of CSO = weighted average number of common shares outstanding, market price per share of CS = market price per share of common stock. Round your answer to two decimal places, X.XX.) Price/earnings ratio Requirement 3. What do these results mean when evaluating Succeed's Companies' profitability? (Assume the following industry averages: EPS = $0.25, pricelearnings ratio = 9.3.) This is This indicates that investors are paying a price for the stock compared to Succeed's Companies' price earnings ratio for 2024 means that the company's stock is selling at its earnings, V the industry average
