Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following financial statements for Lake of Egypt Marina, Inc. Balance Sheet as of December 31, 2018 and 2817 (in millions of dollars) Assets

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Use the following financial statements for Lake of Egypt Marina, Inc. Balance Sheet as of December 31, 2018 and 2817 (in millions of dollars) Assets Current assets: Liabilities and Equity Current liabilities: $36 40 45 50 s ss 48 Cash and marketable securities Accounts receivable Inventory 45 180 $280 52 92 $192 Accrued wages and taxes Accounts payable Notes payable 52 135 $132 51$138 Total Total Long-term debt: Fixed assets $265 $224 Stockholders' equity: Gross plant and equipment Less: Depreciation Preferred stock (2 million shares) Common stock and paid-in surplus 70 48 24 104 314130 $400 24 288 (24 million shares) Net plant and equipment Other long-term assets 195 $184 24 Retained earnings 25 $228$288 500 $40Total liabilities and equity Total Total Total assets $500 Income Statement for Years Ending December 31, 2018 and 2817 in millions of dollars) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and $ 600 216 $ 384 38 480 128 $ 280 16 354 30 264 24 amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income 324 248 $ 226 $154 $300 $ 210 Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data $ 208 24 $ 152 24 128 S 184 Earnings per share (EPS) Dividends per share (OPS) Book value per share (BVPS) Market value (price) per share (HVPS) 8.667 s 1.000 $13.800 $15.3e0 6.333 $ 1.000 5.333 $13.100 Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2018. (Use sales when computing the inventory turnover and use total equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year LAKE OF EGYPT MARINA, INC. a. Current ratio b. Quick ratio c. Cash ratio d. Inventory turnover e. Days' sales in inventory f. Average collection period g. Average payment period h. Fixed asset turnover i. Sales to working capital j. Total asset turnover k. Capital intensity I. Debt ratio m. Debt-to-equity n. Equity multiplier o. Times interest earned p. Cash coverage q. Profit margin r. Gross profit margin s. Operating profit margin times imes imes imes days days days times times times times times times times times times times times i Sales to working capital j Total asset turnover k Capital intensity L Debt ratio m. Debt-to-equity n. Equity multiplier o. Times interest earned p. | Cash coverage q. Profit margin times times times times r. Gross profit margin s. Operating profit margin t Basic earnings power u. ROA V. ROE w. Dividend payout X. | Market-to-book ratio y. PE ratio 5% times times

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

50 + Fun Financial Accounting Cases

Authors: Thomas E. McKee

1st Edition

1257824538, 978-1257824533

More Books

Students also viewed these Accounting questions

Question

12 x 4y 4 5x 4y 12 10 12) X

Answered: 1 week ago