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The financial statements of Concord company appear below: The financial statements of Concord Company appear below: CONCORD COMPANY Comparative Balance Sheet December 31 Assets Cash
The financial statements of Concord company appear below:
The financial statements of Concord Company appear below: CONCORD COMPANY Comparative Balance Sheet December 31 Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock 2022 $26,700 16,300 62,000 150,000 $ 23,600 36,300 68,400 2021 201,700 $ 43,400 55,200 24,200 185,000 $440,000 $519,800 175,000 222,000 $ 22,900 96,200 160,500 169,500 Retained earnings Total liabilities and stockholders' equity CONCORD COMPANY Income Statement For the Year Ended December 31, 2022 Net sales (all on credit) Cost of goods sold Gross profit Expenses Interest expense Selling expenses Administrative expenses Total expenses Income before income taxes Income tax expense Net income $9,900 31,000 18,000 110,000 $440,000 $519,800 $376,000 190,000 186,000 58,900 127.100 70,700 35,400 $91.700 a. b. C. d. Using the financial statements and additional information, compute the following ratios for the Concord Compa all answers to 2 decimal places, e.g. 1.83 or 12.61%.) 1. 2. 3. 4. Cash dividends of $48,700 were declared and paid on common stock in 2022. Weighted-average number of shares of common stock outstanding during 2022 was 48,700 shares. Market price of common stock on December 31, 2022, was $18 per share. Net cash provided by operating activities for 2022 was $74,100. 5. 7. Current ratio Return on common stockholders' equity Price-earnings ratio Inventory turnover Accounts receivable turnover Times interest earned Profit margin :1 %6 times times times times Using the financial statements and additional information, compute the following ratios for the Concord Company for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%) 2. 3. 45 6. 8. 9. 10. Current ratio Return on common stockholders' equity Price-earnings ratio Inventory turnover Accounts receivable turnover Times interest earned Profit margin Average days in inventory Payout ratio Return on assets :1 times times times times R days Step by Step Solution
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