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ASSIGNMENT 2 INSTRUCTIONS: Please complete the assignment in Excel Please do not re-write the formula for the financial ratios Just completing the calculations will be enough. Dole rotat Comparative financial statements for Heritage Services for the fiscal year ending December 31 appear in the next couple pages. The company did not issue any new common or preferred shares during the year. A total of 600 common shares were outstanding The interest rate on the bond payable is 14%, the income tax rate was 40% and the dividend per share for the common shares were $0.75. The market value of the common share at the end of the year was $26. All of the sales for the company are on account. D G Com HERITAGE SERVICES COMPARATIVE BALANCE SHEET (dollars in thousands) This year Last Year $ 1,080 9,000 12,000 600 22.680 $ 1,210 6,500 10,600 500 18,810 9,000 36.800 45 800 $68,480 9,000 38.000 47,000 $65.810 ASSETS: Current Assets: Cash Accounts receivable, net Inventory Prepaid Expenses Total Current Assets Property and Equipment. Land Building and Equipment, Net Total Property and Equipment TOTAL ASSETS: LIABILITIES AND SHAREHOLDER EQUITY Current Liabilities Accounts Payable Accrued Payable Notes Payable, short term Total Current Liabilities Long-Term Liabilities: Bonds Payable Total Liabilities Shareholders Equity Preferred Shares Common Shares Additional paid-up capital Total Paid in Capital Retained Earnings Total Shareholders Equity TOTAL LIABILITIES AND SHAREHOLDER EQUITY $17,400 700 $18,500 900 0 19,400 100 18,200 8,000 27.400 8.000 26,200 1,000 2,000 4.000 7,000 34080 41 080 $68,480 1,000 2,000 4,000 7,000 32610 39.610 $65,810 HERITAGE SERVICES COMPARATIVE INCOME STATEMENT (dollars in thousands) This year $66,000 43,000 23,000 Last Year $64,000 42.000 22.000 Cost of Goods Sold Gross Margin Selling and Administrative Expenses Selling Expenses Administrative Expenses Total Selling and Administrative Expenses Net Operating Income Interest Expenso Net Income before taxes Income Taxes Not Income Dividends paid to preferred shareholders Net Income remaining for common shareholders Dividends paid to common shareholders Net Income added to retained earnings Retained earning, beginning of year Retained earning, end of year 11,500 7400 18,900 4,100 800 3,300 1.320 1,980 60 11,000 7.000 18,000 4,000 800 3,200 1280 1.920 400 1.920 450 1,470 32610 $34080 1,520 450 1,070 31,540 $32,610 REQUIRMENT: Compute the following ratios for this year: 1. Gross Margin Percentage 2. Earnings per share for common shareholders 3. Price-earnings ratio 4. Dividend payout ratio. 5. Dividend yield ratio. 6. Return on total assets. 7. Return on common stockholders' equity. 8. Book value per share