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Need help with these balance sheets & income sheets for a practice course! $ 24 LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending
Need help with these balance sheets & income sheets for a practice course!
$ 24 LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Net sales (all credit) $ 600 $ 400 Less: Cost of goods sold 216 120 Gross profits $ 384 $ 280 Less: Other operating expenses 30 16 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 354 264 Less: Depreciation 30 Earnings before interest and taxes (EBIT) 324 $ 240 Less: Interest 24 20 Earnings before taxes (EBT) 300 $ 220 Less: Taxes 90 66 Net income $ 210 $ 154 Less: Preferred stock dividends $ 2 $ 2 Net income available to common stockholders $ 208 $ 152 Less: Common stock dividends 24 24 Addition to retained earnings 184 $ 128 Per (common) share data: Earnings per share (EPS) $ 8.667 $ 6.333 Dividends per share (DPS) $ 1.000 $ 1.000 Book value per share (BVPS) $13.000 $ 5.333 Market value (price) per share (MVPS) $15.300 $10.900 2018 2017 $ 55 LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 48 Accrued wages and taxes Accounts receivable 45 52 Accounts payable Inventory 180 92 Notes payable Total $280 $192 Total Fixed assets: Long-term debt: Gross plant and equipment $265 $224 Stockholders' equity: Less: Depreciation 70 40 Preferred stock (2 million shares) Common stock and paid-in surplus Net plant and equipment $195 $184 (24 million shares) Other long-term assets 25 24 Retained earnings Total $220 $208 Total Total assets $500 $400 Total liabilities and equity $ 40 45 50 $135 $ 51 $ 36 44 52 $132 $138 2 $ 2 24 288 $314 $500 24 104 $130 $400 Spread the balance sheets of Lake of Egypt Marina, Inc., for 2018 and 2017. (Input all amounts as positive values. Round your answers to 2 decimal places.) LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Liabilities and Equity Assets 2018 2017 Current assets: Current liabilities: Cash and marketable securities % % % % Accounts receivable Inventory Total Total Fixed assets Long-term debt Stockholders' equity Total Total Total assets 0.00% 0.00 % Total liabilities and equity 0.00 % 0.00% Spread the income statements of Lake of Egypt Marina, Inc., for 2018 and 2017. (Input all amounts as positive values. Round your answers to 2 decimal places.) LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2018 and 2017 (in millions of dollars) 2018 2017 % % % %Step by Step Solution
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