Markus Company's common stock sold for $4.75 per share at the end of this year. The average
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Markus Company's common stock sold for $4.75 per share at the end of this year. The average number of common shares outstanding during the year is 158,000. The company also paid a common stock dividend of $0.57 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash Accounts receivable Inventory Total current assets Current liabilities Total liabilities Common shareholders' equity Total shareholders' equity Total liabilities and common shareholders' equity Sales (all on account) Cost of goods sold Gross margin Operating income Interest expense Net income This Year $1,080,000 mmmmm 626,400 453,600 276,500 14,000 133,750 Ending Balance $ 44,000 $ 92,000 $ 73,300 $ 209,300 $ 84,000 $ 210,000 $ 158,000 $ 540,000 $ 750,000 Beginning Balance $ 43,200 $ 66,200 $ 92,000 $ 201,400 $ 87,000 $ 189,000 $ 158,000 $ 620,000 $ 809,000
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