Question
Markus Companys common stock sold for $5.25 per share at the end of this year. The average number of common shares outstanding during the year
Markus Companys common stock sold for $5.25 per share at the end of this year. The average number of common shares outstanding during the year is 165,000. The company also 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 | $ | 49,000 | $ | 44,200 |
Accounts receivable | $ | 92,000 | $ | 68,700 |
Inventory | $ | 76,300 | $ | 92,000 |
Total current assets | $ | 217,300 | $ | 204,900 |
Current liabilities | $ | 85,500 | $ | 90,000 |
Total liabilities | $ | 206,000 | $ | 185,400 |
Common shareholders equity | $ | 165,000 | $ | 165,000 |
Total shareholders equity | $ | 595,000 | $ | 690,000 |
Total liabilities and common shareholders equity | $ | 801,000 | $ | 875,400 |
This Year | ||
Sales (all on account) | $ | 1,095,000 |
Cost of goods sold | $ | 635,100 |
Gross margin | $ | 459,900 |
Operating income | $ | 313,875 |
Interest expense | $ | 15,500 |
Net income | $ | 208,862 |
6. What is the book value per share at the end of this year? (Round your answer to 2 decimal places.)
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.)
8. What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.)
10. What is the inventory turnover? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.)
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