Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the information to solve the questions Revenue Cost of goods sold Interest expense Income tax expense Net income Current assets (ending balance) Long-term assets

Use the information to solve the questions
Revenue Cost of goods sold Interest expense Income tax expense Net income Current assets (ending balance)  Calculate Asset Turnover You identified an error in the Average Assets (excluding log-term inventory)Calculate Return on Stockholders' Equity. You identified an error in Net Income and Average TotalCalculate Earning Per Share You remember that the New York Bakery retired 224,812 shares in 2021. That means  

Revenue Cost of goods sold Interest expense Income tax expense Net income Current assets (ending balance) Long-term assets (ending balance) Total assets (ending balance) Current liabilities (ending balance) Long-term liabilities (ending balance) Total liabilities (ending balance) Preferred dividends Total stockholders' equity (ending balance) Total outstanding shares Market price of shares Average inventory Average assets (excluding long-term investments) Average total assets Average total stockholders' equity 2021 2020 2019 2018 640,320.00 441,600,00 320,000.00 10,901,977.24 7,508,199.16 5,727,216.00 3,941,696.00 2,061,536.40 1,374,357.60 1,025,640.00 683,760.00 1,052,060,00 891,576.00 768,600.00 610,000.00 1,225,572.00 845,222.00 5,571,720.00 3,714,480.00 2,772,000.00 1,848,000,00 1,400,000.00 11,751,396.40 9,039,535.60 68,480,133.20 5,035,392.00 4,060,800.00 17,627,094.60 13,559,303.40 102,720,199.80 7,553,088.00 6,091,200.00 29,378,491.00 22,598,839.00 171,200,333.00 12,588,480.00 10,152,000.00 4,173,933.01 3,701,510.80-63,272,288.24 2,323,321.73 2,093,167.20 6,498,357.99 5,762,848.20 98,508,044.76 3,617,158.27 3,258,832.80 10,672,291.00 9,464,359.00 161,780,333.00 5,940,480.00 5,352,000.00 243,180.60 170,748,24 122,460.00 86,424,00 62,400.00 9,420,000.00 6,648,000.00 4,800,000.00 2,500,000.00 2,500,000.00 18,706,200.00 13,134,480.00 2,500,000.00 2,500,000.00 13.50 12,84 3,092,304.60 2,061,536.40 14,101,675.68 10,847,442.72 25,988,665.00 19,859,586.00 15.920,340.00 11.277.240.00 12.22 11.63 1,538,460.00 1,025,640.00 2017 3,011,800.00 518,000.00 500,000.00 2,500,000.00 11.06 777,000.00 82,176,159.84 6,042,470.40 14,854,406.00 11,370,240.00 8,676,000.00 8,034,000.00 5,724,000.00 4,100,000.00 4,872,960.00

Step by Step Solution

3.53 Rating (150 Votes )

There are 3 Steps involved in it

Step: 1

To calculate Asset Turnover for 2019 using the corrected amount we need to first calculate the corrected Average Assets excluding longterm investments ... 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_2

Step: 3

blur-text-image_3

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 Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

7th Canadian edition

1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458

More Books

Students also viewed these Accounting questions