Question
Use the following financial statements for Lake of Egypt Marina, IncorporatedLAKE OF EGYPT MARINA, INCORPORATEDBalance Sheet as of December 31, 2024 and 2023(in millions of
Use the following financial statements for Lake of Egypt Marina, IncorporatedLAKE OF EGYPT MARINA, INCORPORATEDBalance Sheet as of December 31, 2024 and 2023(in millions of dollars) 20242023 20242023Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities$ 66$ 36Accrued wages and taxes$ 40$ 20Accounts receivable4032Accounts payable3524Inventory195148Notes payable3032Total$ 301$ 216Total$ 105$ 76Fixed assets: Long-term debt:$ 130$ 200Gross plant and equipment$ 255$ 200Stockholders equity: Less: Depreciation6040Preferred stock (4 million shares)$ 4$ 4Net plant and equipment$ 195$ 160Common stock and paid-in surplus (16 million shares)1616Other long-term assets2524Retained earnings266104Total$ 220$ 184Total$ 286$ 124Total assets$ 521$ 400Total liabilities and equity$ 521$ 400LAKE OF EGYPT MARINA, INCORPORATEDIncome Statement for Years Ending December 31, 2024 and 2023(in millions of dollars) 20242023Net sales (all credit)$ 500$ 300Less: Cost of goods sold200105Gross profits$ 300$ 195Less: Other operating expenses2518Earnings before interest, taxes, depreciation, and amortization (EBITDA)275177Less: Depreciation2012Earnings before interest and taxes (EBIT)$ 255$ 165Less: Interest2515Earnings before taxes (EBT)$ 230$ 150Less: Taxes4845Net income$ 182$ 105Less: Preferred stock dividends$ 4$ 4Net income available to common stockholders$ 178$ 101Less: Common stock dividends1616Addition to retained earnings$ 162$ 85Per (common) share data: Earnings per share (EPS)$ 11.125$ 6.313Dividends per share (DPS)$ 1.000$ 1.000Book value per share (BVPS)$ 17.625$ 7.500Market value (price) per share (MVPS)$ 15.700$ 13.500Calculate the following ratios for Lake of Egypt Marina, Incorporated, as of year-end 2024.Note: Use sales when computing the inventory turnover and use total stockholders' equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year.
Use the following finsnesal ststements for Lake of Egyot Msrins, Incorporeted Csiculate the following rsto: for Leke of Egypt Marins, Incorporsted, sa af yesr-end 2024. Note: Use sales when computing the inventary turnover and use total stackholders' equity when computing the equity multiplier. Round your answers to 2 decimal ploces. Use 365 doys a yearStep by Step Solution
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