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The following condensed information is reported by Sporting Collectibles. Calculate the following profitability ratios for 2021: Determine the amount of dividends paid to shareholders in
The following condensed information is reported by Sporting Collectibles.
Calculate the following profitability ratios for 2021:
Determine the amount of dividends paid to shareholders in 2021.
2021 2020 $6,460,000 4,289,440 306,000 $7,400,000 4,900,000 148,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $1,500,000 2,100,000 $3,600,000 $1,100,000 1,600,000 700,000 200,000 $3,600,000 $1,400,000 1,800,000 $3,200,000 $ 800,000 1,600,000 700,000 100,000 $3,200,000 a. % % Profitability Ratios Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover Return on equity % times e. %Step by Step Solution
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