Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the below information to answer the following question. Income Statement For the Year Net sales $827,500 COGS 611,800 Depreciation 23,100 EBIT $192,600 Interest 9,700

Use the below information to answer the following question.

Income Statement
For the Year
Net sales $827,500
COGS 611,800
Depreciation 23,100
EBIT $192,600
Interest 9,700
Taxable income $182,900
Taxes 6,200
Net income $176,700

Balance Sheet
Beginning of Year End of Year
Cash $ 38,200 $43,700
Accounts receivable 91,400 86,150
Inventory 203,900 214,600
Net fixed assets 516,100 537,950
Total assets $849,600 $882,400
Accounts payable $136,100 $104,300
Long-term debt 329,500 298,200
Common stock ($1 par value) 75,000 82,000
Retained earnings 309,000 397,900
Total Liab. & Equity $849,600 $882,400

What is the price-sales ratio if the market price is $43.20 per share? (Use end-of-year values)
2.43
3.92
3.67
4.28
4.51

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

Financial Finesse An Accounting Guide For Entrepreneurs

Authors: TaShara Ramese

1st Edition

1732510903, 978-1732510906

More Books

Students also viewed these Accounting questions

Question

What are the functions of top management?

Answered: 1 week ago

Question

Bring out the limitations of planning.

Answered: 1 week ago

Question

Why should a business be socially responsible?

Answered: 1 week ago

Question

Discuss the general principles of management given by Henri Fayol

Answered: 1 week ago