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Chapter 17 Homew December 31, 2022 and 2021 NW sonyd jeuroap auo os Bipunou 'T202 noy su unojoj 2. Current ratio M

Chapter 17 Homew December 31, 2022 and 2021 NW sonyd jeuroap auo os Bipunou 'T202 noy su unojoj 2. Current ratio M

Corporate Financial Accounting
Corporate Financial Accounting
15th Edition
ISBN:9781337398169
Author:Carl Warren, Jeff Jones
Publisher:Carl Warren, Jeff Jones
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.4APR: Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall...
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Chapter 17 Homework PR 17-4A Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall, Inc. are as follows. The market price of Marshall, Inc. common stock was $82.60 on December 31, 2022. Marshall, Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2022 and 2021 2022 $3,704,000 600,000 Retained Earnings, January 1 Net Income Dividends: On preferred stock On common stock Retained Earnings, December 31 (10,000) (100,000) $4.194.000 2021 $3,264,000 550,000 (10,000) (100,000) $3.704.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Marshall, Inc. Comparative Income Statement For the Years Ended December 31, 2022 and 2021 2022 $10,850,000 6,000,000 $4,850,000 $ 2,170,000 1,627,500 $ 3,797,500 $ 1,052,500 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net Income 99,500 (132,000) $ 1,020,000 420.000 $ 600.000 2021 $10,000,000 5,450,000 $ 4,550,000 $ 2,000,000 1,500,000 $ 3,500,000 $ 1,050,000 20,000 (120,000) $ 950,000 400,000 $ 550.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Current liabilities: Long-term liabilities: Marshall, Inc. Comparative Balance Sheets December 31, 2022 and 2021 2022 Mortgage note payable, 6% Bonds payable, 4% Total liabilities Total long-term liabilities Preferred 4% stock, $5 par Common stock, $5 par Retained earnings Assets Liabilities $ 1,050,000 301,000 585,000 420,000 108,000 $ 2,464,000 800,000 5,760,000 $9.024.000 Total stockholders' equity Total liabilities and stockholders' equity $ 880,000 $ 200,000 3,000,000 $3,200,000 $ 4,080,000 Stockholders' Equity $ 250,000 500,000 4,194,000 $4,944,000 $9.024.000 2021 $ 950.000 420,000 500,000 380,000 20,000 $ 2,270,000 800,000 5,184,000 $ 8.254.000 $ 800,000 $ 0 3,000,000 $ 3,000,000 $ 3,800,000 $ 250,000 500,000 3,704,000 $ 4,454,000 $ 8.254.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Instructions Determine the following measures for 2022, rounding to one decimal place, including percentages, except for per-share amounts: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage
Transcribed Image Text:Chapter 17 Homework PR 17-4A Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall, Inc. are as follows. The market price of Marshall, Inc. common stock was $82.60 on December 31, 2022. Marshall, Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2022 and 2021 2022 $3,704,000 600,000 Retained Earnings, January 1 Net Income Dividends: On preferred stock On common stock Retained Earnings, December 31 (10,000) (100,000) $4.194.000 2021 $3,264,000 550,000 (10,000) (100,000) $3.704.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Marshall, Inc. Comparative Income Statement For the Years Ended December 31, 2022 and 2021 2022 $10,850,000 6,000,000 $4,850,000 $ 2,170,000 1,627,500 $ 3,797,500 $ 1,052,500 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net Income 99,500 (132,000) $ 1,020,000 420.000 $ 600.000 2021 $10,000,000 5,450,000 $ 4,550,000 $ 2,000,000 1,500,000 $ 3,500,000 $ 1,050,000 20,000 (120,000) $ 950,000 400,000 $ 550.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Current liabilities: Long-term liabilities: Marshall, Inc. Comparative Balance Sheets December 31, 2022 and 2021 2022 Mortgage note payable, 6% Bonds payable, 4% Total liabilities Total long-term liabilities Preferred 4% stock, $5 par Common stock, $5 par Retained earnings Assets Liabilities $ 1,050,000 301,000 585,000 420,000 108,000 $ 2,464,000 800,000 5,760,000 $9.024.000 Total stockholders' equity Total liabilities and stockholders' equity $ 880,000 $ 200,000 3,000,000 $3,200,000 $ 4,080,000 Stockholders' Equity $ 250,000 500,000 4,194,000 $4,944,000 $9.024.000 2021 $ 950.000 420,000 500,000 380,000 20,000 $ 2,270,000 800,000 5,184,000 $ 8.254.000 $ 800,000 $ 0 3,000,000 $ 3,000,000 $ 3,800,000 $ 250,000 500,000 3,704,000 $ 4,454,000 $ 8.254.000 Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage Instructions Determine the following measures for 2022, rounding to one decimal place, including percentages, except for per-share amounts: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage
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