Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Markus Company's common stock sold for $5.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per

image text in transcribed
image text in transcribed
Markus Company's common stock sold for $5.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total aseta Current liabilities Total liabilities Common stock, 01 par value Total stockholders' equity Total liabilities and stockholders uity Ending Balance $ 45,000 $ 90,000 $ 72,100 207,100 $ 766,000 $ 88,000 196.000 159.000 570,000 $165.000 Beginning Balance $ 42,000 $ 65,000 90,000 $ 197,000 5 836,400 $82,500 $ 175,400 $ 159,000 $ 660,000 $.36.400 Sales (all on account) Cost of yoode sold Groussargi Net operating income Interest expense This Year 1.045,000 5 606,100 50,900 $ 300,000 $ 15,000 195,500 Foundational 14-13 (Algo) 13. What is the times interest eamed ratio? (Round your answer to 2 decimal place) Time here earned ratio Markus Company's common stock sold for $5.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Xnding Malance Beginning balance Cash $ 45,000 42,000 Accounts receivable $ 90,000 $ 65,000 Taventory $ 72,100 $ 90,000 Current assets $207,100 $ 197.000 Total susta $ 766,000 $. 836,400 Current silities $ 58,000 $ 82,500 Total liabilities $ 196,000 $ 176,400 Common stock, 51 par value $ 159,000 $ 159,000 Total stockholders' equity $ 370,000 $ 660,000 Total Tibilities and stockholdere equity 1766,000 $936,400 Sales (all on account Coat of good sold Grossargin Het operating income Interest expense Net Inco This Year 81,045,000 06.100 438,900 $ 300,000 $ 15,000 $199.500 Foundational 14-15 (Algo) 15. What is the equity multiplier? (Round your answer to 2 decimal places.) uity multiple

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

Using QuickBooks Online For Accounting 2021

Authors: Glenn Owen

4th Edition

0357442164, 9780357442166

More Books

Students also viewed these Accounting questions

Question

Explain key aspects of e-learning

Answered: 1 week ago

Question

To what extent can OL ideas help this organization?

Answered: 1 week ago