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Need to solve questions 2-F and 2-H. I already attempted the answers above and they were wrong. Also, 2-H is not 130.61% either. P12-2 Analyzing
Need to solve questions 2-F and 2-H.
I already attempted the answers above and they were wrong. Also, 2-H is not 130.61% either.
P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5. 12-6, 12-9 The comparative financial statements prepared at December 31, year 2, for Goldfish Company showed the following summarized dete: Year 2 Year Statenent of Earnings Sales revenue 3380,67 5320,000 Cost of sales 320.278 268,000 Gross margin 60.00 32.000 Operating expenses and interest expense Earnings before income taxes Income tax expense 19.370 15,00 2.600 S.200 Het earnings 3 11.930 5 9.700 Statenent of Financial Position 58,100 Accounts receivable (net) 15.30 10.000 Inventory 43,710 38. Property, plant, and equipment (net) 21.000 $ 87,970 S85,100 Current Liabilities (no interest) Non-current liabilities (10 Interest) Common shares (6,600 shares) 18.000 18.000 Retained earnings 20.16 15.00 $ 88.cee 5 es, 100 54,110 25,20 35,310 5 17.00 34,100 "One-third was credit sales. During Year 2. cash dividends amounting to $7.200 were declared and paid. 24 Return on assets. Assume that long-term debt increased to $35.310 in month 1 of year 2. (Round intermediate calculations to 3 decimal places and percentage answer to 2 decimal places (.e., 0.1243 should be entered as 12.43).) Answer is complete but not entirely correct. Return on assets 13.78% 13.79 X 2-9. Return on equity. (Round percentage answer to 2 decimal places (.e., 0.1243 should be entered as 12.43). Answer is complete and correct. Return on equity 33.34 2-h. Financial leverage percentage. Did borrowing from creditors benefit shareholders? (Round intermediate calculations and final answer to 2 decimal places.) Answer is complete but not entirely correct. Financial leverage percentage 122.29 X 1.22 Yes
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