Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current assets Current liabilities Cash Accounts receivable $

image text in transcribed

image text in transcribed

SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current assets Current liabilities Cash Accounts receivable $ 24,106 13,048 26,342 $ 24,700 15,800 27,700 Accounts payable Notes payable Other $23,784 16,000 12,171 $27,700 11,400 15,900 Total 63,496 $ 68,200 Total $ 51,955 55,000 $ 75,000 $ 90,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 222,236 $ 45,000 242,000 Fxeasseqment $363,800 $432 Net plant and equipment 330,695 Total $267,236 $287,000 Total assets $394,191 Total liabilities and owners' equity $394,191 $432,000 SMOLIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold Depreciation S367,234 235,500 38,600 Earnings before interest and taxes Interest paid $ 93,134 14,900 Taxable income Taxes (30%) $ 78,234 23,470 Net income 54,764 Dividends Retained earnings $35,000 19,764 Smolira Golf Corp. has 35,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2015 was $50. What is the price-earnings ratio? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) Price-earnings ratio times What are the dividends per share? (Round your answer to 2 decimal places, e.g., 32.16.) Dividends per share What is the market-to-book ratio at the end of 2015? (Round your answer to 2 decimal places, e.g., 32.16.) Market-to-book ratio times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Engineers Cost Handbook Tools For Managing Project Costs

Authors: Richard E. Westney

1st Edition

0824797965, 978-0824797966

More Books

Students also viewed these Finance questions