Question
The annual financial statements of Cosmos Corporation are as below : Cosmos Corporation Income Statement for Year Ended December 31, 2021 Sales $548,600 Cost of
The annual financial statements of Cosmos Corporation are as below :
Cosmos Corporation Income Statement for Year Ended December 31, 2021 | |
Sales | $548,600 |
Cost of goods sold | $397,250 |
Gross profit | $151,350 |
Operating expenses | $95,600 |
Interest expense | $6,100 |
Income before taxes OR PBT | $49,650 |
Income taxes | $22,598 |
Net income OR PAT | $27,052 |
Cosmos Corporation Balance Sheet as on December 31, 2021 | |||
Assets: |
| Liabilities and Equity: |
|
Cash | $10,000 | Accounts payable | $12,500 |
Marketable Securities | $8,400 | Accrued wages payable | $3,200 |
Accounts receivable, net | $33,700 | Income taxes payable | $3,300 |
Merchandise inventory | $32,150 | Long-term Borrowings | $63,400 |
Prepaid expense | $650 | ||
|
| Common stock ($10 face value) | $90,000 |
PPE assets, net | $155,300 | Retained earnings | $67,800 |
Total assets | $240,200 | Total liabilities and equity | $240,200 |
Assume that Market Value per share is $80.
You are required to compute the given ratios and Comment with in the space provided
(if industry average is 2.5) |
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(if industry average is 35 days) |
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(if industry average is 15) |
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(If industry average is 9%)
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