Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio Now, compute the
Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio = Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Requirement 1c. Compute the times-interest-earned ratios for 2024 and 2023. Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-earnedratio= Now, compute the times-interest-earned ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Requirement 1d. Compute the inventory turnover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Requirement 1e. Compute the gross profit percentage for 2024 and 2023. Begin by selecting the formula to compute the gross profit percentage. Gross profit percentage Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent, X.X. Do not enter the \%. For example, enter 10.2\% as 10.2 .) Requirement 1f. Compute the debt to equity ratios for 2024 and 2023. Begin by selecting the formula to compute the debt to equity ratio. Debt to equity ratio Now, compute the debt to equity ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Requirement 1g. Compute the rate of return on common stockholders' equity for 2024 and 2023. Begin by selecting the formula to compute the rate of return on common stockholders' equity. Rate of return on common stockholders' equity = Now, compute the rate of return on common stockholders' equity for 2024 and 2023. (Round your answers to one tenth of a percent, X.X. Do not enter the \%. For example, enter 10.2\% as 10.2 .) Requirement 1h. Compute the earnings per share of common stock for 2024 and 2023. Begin by selecting the formula to compute the earnings per share of common stock. Earnings per share Now, compute the earnings per share for 2024 and 2023. (Round your answers to the nearest cent, \$X.XX.) Requirement 1i. Compute the price/earnings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/earningsratio=[ Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, X.XX.) (a) Did Banfield's ability to pay its debts and to sell inventory improve or deteriorate during 2024 ? (b) Did the investment attractiveness of Banfield's common stock appear to have increased or decreased? \begin{tabular}{|c|c|c|c|} \hline \begin{tabular}{r} Banfielc \\ Comparative Inc \\ Years Ended Decemb \end{tabular} & \begin{tabular}{l} Inc. \\ ne S \\ 31 \end{tabular} & 2024 and 20 & \\ \hline & & 2024 & 2023 \\ \hline Net Sales Revenue & $ & 468,000$ & 426,000 \\ \hline Cost of Goods Sold & & 244,000 & 216,000 \\ \hline Gross Profit & & 224,000 & 210,000 \\ \hline Operating Expenses & & 138,000 & 136,000 \\ \hline Income From Operations & & 86,000 & 74,000 \\ \hline Interest Expense & & 11,000 & 13,000 \\ \hline Income Before Income Tax & & 75,000 & 61,000 \\ \hline Income Tax Expense & & 21,000 & 24,000 \\ \hline Net Income & $ & 54,000$ & 37,000 \\ \hline \end{tabular}
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