Question
se the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2021 and 2020
se the following financial statements for Lake of Egypt Marina, Inc.
LAKE OF EGYPT MARINA, INC. | ||||||||||||||||
Balance Sheet as of December 31, 2021 and 2020 | ||||||||||||||||
(in millions of dollars) | ||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
Assets | Liabilities and Equity | |||||||||||||||
Current assets: | Current liabilities: | |||||||||||||||
Cash and marketable securities | $ | 122 | $ | 48 | Accrued wages and taxes | $ | 60 | $ | 48 | |||||||
Accounts receivable | 110 | 72 | Accounts payable | 110 | 72 | |||||||||||
Inventory | 301 | 174 | Notes payable | 70 | 60 | |||||||||||
Total | $ | 533 | $ | 294 | Total | $ | 240 | $ | 180 | |||||||
Fixed assets: | Long-term debt: | $ | 429 | $ | 237 | |||||||||||
Gross plant and equipment | $ | 520 | $ | 330 | Stockholders equity: | |||||||||||
Less: Depreciation | 81 | 60 | Preferred stock (3 million shares) | $ | 3 | $ | 3 | |||||||||
Net plant and equipment | $ | 439 | $ | 270 | Common stock and paid-in surplus | 24 | 24 | |||||||||
(24 million shares) | ||||||||||||||||
Other long-term assets | 50 | 36 | Retained earnings | 326 | 156 | |||||||||||
Total | $ | 489 | $ | 306 | Total | $ | 353 | $ | 183 | |||||||
Total assets | $ | 1,022 | $ | 600 | Total liabilities and equity | $ | 1,022 | $ | 600 | |||||||
LAKE OF EGYPT MARINA, INC. | |||||||
Income Statement for Years Ending December 31, 2021 and 2020 | |||||||
(in millions of dollars) | |||||||
2021 | 2020 | ||||||
Net sales (all credit) | $ | 500 | $ | 400 | |||
Less: Cost of goods sold | 180 | 136 | |||||
Gross profits | $ | 320 | $ | 264 | |||
Less: Other operating expenses | 26 | 24 | |||||
Earnings before interest, taxes, depreciation, and amortization (EBITDA) | 294 | 240 | |||||
Less: Depreciation | 21 | 16 | |||||
Earnings before interest and taxes (EBIT) | $ | 273 | $ | 224 | |||
Less: Interest | 23 | 24 | |||||
Earnings before taxes (EBT) | $ | 250 | $ | 200 | |||
Less: Taxes | 53 | 60 | |||||
Net income | $ | 197 | $ | 140 | |||
Less: Preferred stock dividends | $ | 3 | $ | 3 | |||
Net income available to common stockholders | $ | 194 | $ | 137 | |||
Less: Common stock dividends | 24 | 24 | |||||
Addition to retained earnings | $ | 170 | $ | 113 | |||
Per (common) share data: | |||||||
Earnings per share (EPS) | $ | 8.083 | $ | 5.708 | |||
Dividends per share (DPS) | $ | 1.000 | $ | 1.000 | |||
Book value per share (BVPS) | $ | 14.583 | $ | 7.500 | |||
Market value (price) per share (MVPS) | $ | 14.950 | $ | 12.750 | |||
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 equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year.)
A.Current Ratio B. Quick Ratio C. Cash Ratio D. Inventory Turnover E. Days in sales Inventory F. Average Collection Period G. Average Payment Period. H. Fixed asset turnover I. Sales to working capital J. Total Asset Turnover K.Capital Intensity L. Debt Ratio M. Debt-to-equity ratio N. Equity multiplier. O. Times Interest earned P. Cash coverage Q. Profit margin. R.Gross profit margin S. Operation Profit margin T. Basic earning power. U. ROA V.ROE W. Dividend Payout x. market-to-box ratio y. PE Ratio
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