Prepare statement of cashflows, determine book value, and solve for market value.
Connect X w BUSI 320 - Textbook Assignment X *Homework Help - Q&A from On x b Refer to the following financial st + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan Other favorites Homework 1 i Saved Help Save & Exit Submit Check my work 8 Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement 4.5 For the Year Ended December 31, 20X2 points Sales $ 3, 550, 000 Cost of goods sold 2, 280, 000 Gross profit $ 1, 270,000 eBook Selling and administrative expense 723, 000 Depreciation expense 268, 000 Hint Operating income $ 279, 090 Interest expense 88, 500 Print Earnings before taxes 190, 500 Taxes 115, 000 Earnings after taxes 75, 500 Preferred stock dividends 10, 000 Earnings available to common stockholders $ 65, 500 Shares outstanding 150, 000 Earnings per share $ 0 .44 Statement of Retained Earnings For the Year Ended December 31, 20X2 Retained earnings, balance, January 1, 20X2 Add: Earnings available to common stockholders, 20X2 $1, 379, 800 65, 500 Deduct: Cash dividends declared and paid in 20X2 174, 000 Retained earnings, balance, December 31, 20X2 $1, 271, 300 Comparative Balance Sheets For 20X1 and 20X2 Year-End Year-End 20X1 20X2 Mc Graw Hill 8 of 17 ducation Type here to search S W 19:58 31/08/2020Connect X w BUSI 320 - Textbook Assignment X *Homework Help - Q&A from On x b Refer to the following financial st + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan Other favorites Homework 1 i Saved Help Save & Exit Submit Check my work 8 Comparative Balance Sheets For 20X1 and 20X2 Year-End Year-End 20X1 20X2 4.5 Assets Current assets: points Cash $ 146, 000 $ 106, 100 Accounts receivable (net) 502, 000 608, 900 Inventory 639,000 665, 000 eBook Prepaid expenses 62, 200 34, 700 Total current assets $1, 349, 200 $1, 413, 800 Hint Investments (long-term securities) 97,600 83, 100 Gross plant and equipment $ 2, 620, 090 $ 3, 150, 000 Print Less: Accumulated depreciation 1, 040, 000 1, 308, 000 Net plant and equipment 1, 580, 000 1, 842, 000 Total assets $3, 026, 800 $3, 338, 900 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 309, 000 637,000 Notes payable 542, 000 542, 000 Accrued expenses 79,000 50, 600 Total current liabilities $ 930,000 $1, 229, 600 Long-term liabilities: Bonds payable, 20X2 127 , 000 248, 000 Total liabilities $1, 057, 000 $1, 477, 600 Stockholders' equity: Preferred stock, $100 par value $ 90, 000 $ 90 , 000 Common stock, $1 par value 150,000 DO0'OST Capital paid in excess of par 350, 000 350, 000 Retained earnings 1, 379, 800 1, 271, 300 Total stockholders' equity $1, 969, 800 $1, 861, 300 Total liabilities and stockholders' equity $3, 026, 800 $3, 338, 900 Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill 8 of 17 Next > Dropbox ducation Dropbox Type here to search W 19:58 31/08/2020 EConnect X w BUSI 320 - Textbook Assignment X Homework Help - Q&A from On x b Refer to the following financial st + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin i Indeed Thrift Savings Plan Other favorites Homework 1 i Saved Help Save & Exit Submit Check my work 8 4.5 points b. Compute the book value per common share for both 20X1 and 20X2 for the Crosby Corporation. (Round your answers to 2 eBook decimals places.) Hint Book value Print 20X 1 20X2 c. If the market value of a share of common stock is 3.3 times book value for 20X2, what is the firm's P/E ratio for 20X2? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) P/E ratio times Mc Graw Hill Type here to search S W 19:58 31/08/2020
