Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following financial statements for Lake of Egypt Marina, Inc. 14 point 2021 2020 Sed $ 40 LAKE OF EGYPT MARINA, INC. Balance Sheet

image text in transcribed
image text in transcribed
Use the following financial statements for Lake of Egypt Marina, Inc. 14 point 2021 2020 Sed $ 40 LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable $ 102 542 securities Accrued wages and taxes Accounts receivable 120 66 Accounts payable Inventory 222 168 Notes payable Total $ 444 $276 Total Fixed assets: Long term debt: Gross plant and equipment $ 630 $360 Stockholders' equity Less. Depreciation 102 72 Preferred stock (6 million shares) Common stock and paid in surplus tlet plant and equipment $ 528 (54 million shares) other long-term assets 50 36 Retained earnings Total $578 5324 Total Total assets $1,022 $600 Total liabilities and equity Print $ 30 60 54 $144 $246 90 58 180 502 $ $ lo $ 6 $ 6 $288 54 280 $ 340 $1,022 54 150 $210 $600 14 5 Doint Dod LAKE OF EGYPT MARINA, INC Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Net sales (all credit) $ 600 $ 500 Less: Cost of goods sold 240 210 Gross profits 5 360 $ 290 Less: Other operating expenses 36 29 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 324 261 Less: Depreciation 30 30 Earnings before interest and taxes (EBIT) $ 294 $ 231 Less Interest 54 41 Earnings before taxes (EBT) 240 $ 190 Less: Taxes 50 57 Net income $ 190 $ Less: Preferred stock dividends $ 6 $ 6 Net income available to common stockholders $ 184 $ 127 Less: Common stock dividends 54 54 Addition to retained earnings $ 130 $ 73 Per common) share data: Earnings per Share (EPS) $ 3.407 $ 2.352 Dividends per share (OPS) $ 1.000 $ 1.000 Book value per share (BVPS) 5 6.185 $ 3.778 Market value (price) per share (MVPS) $14.800 $12.600 prin 133 Herce Construct the DuPont ROA and ROE breakdowns for Lake of Egypt Marina, Inc. (Do not round intermediat calculations. Round your answers to 2 decimal places.) ROA ROE DuPont Analysis limes tes % tes

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

International Financial Management

Authors: Geert Bekaert, Robert J. Hodrick

1st Edition

0131163604, 9780131163607

More Books

Students also viewed these Finance questions