Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold
Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $2.50 per share at the end of this year. The company paid a common stock dividend of $0.40 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $650,000 $377,000 $273,000 $ 120,750 $ 7,000 $ 79,625 Ending Balance $31,500 $ 56,000 $ 50,800 $ 138,300. $ 417,000 $ 57,000 $117,000 $ 114,000 $ 300,000 $ 417,000 Beginning Balance $ 47,800 $ 46,300 $ 56,000 $ 150,100 $ 405,300 $ 39,000 $ 105,300 $114,000 $ 300,000 $405,300 Foundational 14-6 (Algo) 6. What is the book value per share at the end of this year? (Round your answer to 2 decimal places.) Book value per share 7. What is the amount of working capital and the current ratio at the end of this year? (Round "Cure Working capital Current ratio 8. What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal pla- Acid-test ratio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started