Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help answer these last few thanks! Use the following financial statements for Lake of Egypt Marina, Inc. 2021 2020 LAKE OF EGYPT MARINA, INC.

Please help answer these last few thanks! image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Use the following financial statements for Lake of Egypt Marina, Inc. 2021 2020 LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 75 $ 65 Accrued wages and taxes Accounts receivable 115 110 Accounts payable Inventory 200 190 Notes payable Total $390 $365 Total Fixed assets: Long-term debt: Gross plant and equipment $580 $471 Stockholders' equity: Less: Depreciation 110 100 Preferred stock (5 million shares) Net plant and equipment $ 470 $371 Common stock and paid-in surplus (65 million shares) Other long-term assets 50 49 Retained earnings Total $520 $ 420 Total Total assets $910 $785 Total liabilities and equity $ 40 90 80 $210 $300 $ 43 80 70 $193 $280 $ 5 $ 5 65 330 $400 65 242 $312 $910 $785 $ LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 Net sales (all credit) $ 515 Less: Cost of goods sold 230 Gross profits $ 285 Less: Other operating expenses 30 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 255 Less: Depreciation 22 Earnings before interest and taxes (EBIT) $ 233 Less: Interest 33 Earnings before taxes (EBT) $ 200 Less: Taxes 42 2020 432 175 257 25 $ $ 232 20 212 $ 30 $ 182 55 Net income $ 158 $ 127 5 $ $ $ $ 5 153 65 88 122 65 $ $ 57 Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) $ 2.354 $ 1.000 $ 6.077 $14.750 $ 1.877 $ 1.000 $ 4.723 $12.550 Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2021. (Use sales when computing the inventory turnover and use total stockholders' equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year.) % r. % q. Profit margin Gross profit margin s. Operating profit margin t. Basic earnings power % t % u. ROA % V. ROE % w. Dividend payout % X. Market-to-book ratio times y. PE ratio times

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions