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Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2015 and 2014
Use the following financial statements for Lake of Egypt Marina, Inc. |
LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) | ||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||
Assets | Liabilities and Equity | |||||||||||
Current assets: | Current liabilities: | |||||||||||
Cash and marketable securities | $ | 74 | $ | 63 | Accrued wages and taxes | $ | 42 | $ | 45 | |||
Accounts receivable | 119 | 114 | Accounts payable | 92 | 82 | |||||||
Inventory | 204 | 194 | Notes payable | 82 | 72 | |||||||
Total | $ | 397 | $ | 371 | Total | $ | 216 | $ | 199 | |||
Fixed assets: | Long term debt: | $ | 302 | $ | 282 | |||||||
Gross plant and equipment | $ | 584 | $ | 475 | Stockholders equity: | |||||||
Less: Depreciation | 126 | 102 | Preferred stock (5 million shares) | $ | 5 | $ | 5 | |||||
Common stock and paid-in surplus (65 million shares) | 65 | 65 | ||||||||||
Net plant and equipment | $ | 458 | $ | 373 | Retained earnings | 319 | 244 | |||||
Other long-term assets | 52 | 51 | ||||||||||
Total | $ | 510 | $ | 424 | Total | $ | 389 | $ | 314 | |||
Total assets | $ | 907 | $ | 795 | Total liabilities and equity | $ | 907 | $ | 795 | |||
LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2015 and 2014 (in millions of dollars) | |||||
2015 | 2014 | ||||
Net sales (all credit) | $ | 535 | $ | 452 | |
Less: Cost of goods sold | 240 | 185 | |||
Gross profits | $ | 295 | $ | 267 | |
Less: Other operating expenses | 32 | 27 | |||
Other operating expenses | |||||
Earnings before interest, taxes, depreciation, and amortization (EBITDA) | $ | 263 | $ | 240 | |
Less: Depreciation | 24 | 22 | |||
Earnings before interest and taxes (EBIT) | $ | 239 | $ | 218 | |
Less: Interest | 35 | 32 | |||
Earnings before taxes (EBT) | $ | 204 | $ | 186 | |
Less: Taxes | 59 | 57 | |||
Net income | $ | 145 | $ | 129 | |
Less: Preferred stock dividends | $ | 5 | $ | 5 | |
Net income available to common stockholders | $ | 140 | $ | 124 | |
Less: Common stock dividends | 65 | 65 | |||
Addition to retained earnings | $ | 75 | $ | 59 | |
Per (common) share data: | |||||
Earnings per share (EPS) | $ | 2.150 | $ | 1.910 | |
Dividends per share (DPS) | $ | 1.000 | $ | 1.000 | |
Book value per share (BVPS) | $ | 5.910 | $ | 4.750 | |
Market value (price) per share (MVPS) | $ | 14.900 | $ | 12.700 | |
Calculate the internal and sustainable growth rate for Lake of Egypt Marina, Inc. (Do not round intermediate calculations. Round your answers to 2 decimal places.) |
Internal growth rate | % |
Sustainable growth rate | % |
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