Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Markus Company's common stock sold for $1.50 per share at the end of this year. The company paid a common stock dividend of $0.39 per
Markus Company's common stock sold for $1.50 per share at the end of this year. The company paid a common stock dividend of $0.39 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Beginning Balance Balance $ 24,500 $ 40,800 $ 42,000 $ 38,800 $ 42,400 $ 42,000 $ 108,900 $ 121,600 $302.000 $242,800 $ 46,500 $ 31,500 $ 92,000 $ 82,800 $ 107,000 $ 107.000 $ 210,000 $160,000 $302,000 $242,800 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 480,000 $ 278,400 $ 201,600 $ 32,500 $ 2,000 $ 112,350 6. What is the book value per share at the end of this year? (Round your answer to 2 decimal places.) Book value per share value: 1.00 points Required information 7. What is the amount of working capital and the current ratio at the end of this year? (Round "Current ratio" to 2 decimal places.) Working capital Current ratio Required information value: 1.00 points 8. What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.) Acid-test ratio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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