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The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 3 1
The following income statement and balance sheets for Virtual Gaming Systems are provided.
VIRTUAL GAMING SYSTEMS
Income Statement
For the Year Ended December
Net sales $
Cost of goods sold
Gross profit
Expenses:
Operating expenses $
Depreciation expense
Loss on sale of land
Interest expense
Income tax expense
Total expenses
Net income $
VIRTUAL GAMING SYSTEMS
Balance Sheets
December
Assets
Current assets:
Cash $ $
Accounts receivable
Inventory
Prepaid rent
Longterm assets:
Investment in bonds
Land
Equipment
Less: Accumulated depreciation
Total assets $
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ $
Interest payable
Income tax payable
Longterm liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
Earnings per share for the year ended December are $ The closing stock price on December is $
Required:
Calculate the following profitability ratios for Round your answers to decimal place.Earnings per share for the year ended December are $ The closing stock price on December is $
Required:
Calculate the following profitability ratios for Round your answers to decimal place.
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