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Markus Companys common stock sold for $4.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per
Markus Companys common stock sold for $4.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this years financial statements:
Ending Balance | Beginning Balance | |
---|---|---|
Cash | $ 40,000 | $ 40,200 |
Accounts receivable | $ 84,000 | $ 63,700 |
Inventory | $ 70,600 | $ 84,000 |
Current assets | $ 194,600 | $ 187,900 |
Total assets | $ 699,000 | $ 755,600 |
Current liabilities | $ 78,000 | $ 76,500 |
Total liabilities | $ 184,000 | $ 165,600 |
Common stock, $1 par value | $ 152,000 | $ 152,000 |
Total stockholders equity | $ 515,000 | $ 590,000 |
Total liabilities and stockholders equity | $ 699,000 | $ 755,600 |
This Year | |
---|---|
Sales (all on account) | $ 980,000 |
Cost of goods sold | $ 568,400 |
Gross margin | $ 411,600 |
Net operating income | $ 263,250 |
Interest expense | $ 13,500 |
Net income | $ 174,825 |
15. What is the equity multiplier? (Round your answer to 2 decimal places.)
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