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Six Measures of Solvency or Profitability The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year. Assuming
Six Measures of Solvency or Profitability The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year.
Assuming that long-term investments totaled $1,717,000 throughout the year and that total assets were $3,262,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
Please help I've tried twice and keep getting it wrong.
Property, plant, and equipment (net) $1,960,800 Liabilities: Current liabilities Mortgage note payable, 896, issued 2003, due 2019 Total liabilities $164,000 817,000 $981,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $735,750 Common stock, $10 par (no change during year) 735,750 Retained earnings: $784,000 Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year 321,000 $1,105,000 $14,715 109,285 124,000 Total stockholders' equity Net sales Interest expense 981,000 $2,452,500 $7,664,525 $65,360
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