Ee.68. Current assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsAssetsSalesCost of goods soldDepreciationEARL GREY GOLF CORP.2017 and 2018 Statement of Financial Position2017$ 24,04612,44825,392$ 61,886$324,695$386,581Earnings before interest and taxesInterest paidTaxable incomeTaxes (35%)Net incomeDividends2018$ 24,25515,23527,155$ 66,645$365,734EARL GREY GOLF CORP.2018 Statement of Comprehensive Income$432,379$20.000Current liabilitiesAccounts payableNotes payableOtherTotalLiabilities and Owners' Equity2017Long-term debtOwners' equityCommon stock and paid-in surplusRetained earningsTotalTotal liabilities and owners' equity$366,996253,12232,220$ 81,65414,300$ 67,35423,574$ 43,780$ 23,18412,00011,571$ 46,755$ 80,000$ 40,000219,826$259,826$386,5812018$ 27,42010,80015,553$ 53,773$ 95,000$ 40,000243,606$283,606$432,379 Additions to retained earningsEarl Grey Golf Corp. has 25,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was$43.What is the price-earnings ratio? (Round the intermediate calculations to 2 decimal places. Round the final answer to 2 decimalplaces.)Price-earnings ratioWhat are the dividends per share? (Round the final answer to 2 decimal places. Omit $ sign in your response.)DividendsMarket-to-book ratio24.56 times23,7800.80 per shareWhat is the market-to-book ratio at the end of 2018? (Do not round intermediate calculations. Round the final answer to 2 decimalplaces.)PEG ratio7.23 timesIf the company's growth rate is 9%, what is the PEG ratio? (Round the intermediate calculations to 2 decimal places. Round the finalanswer to 2 decimal places.)times

Price earning ratio is the ratio of market price to the earning per share of the company. It…

Answered: Earl Grey Golf Corp. has 25,000 shares…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.10E

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Asset Efficiency Ratios Rumsford Inc.s financial statements for 2019 indicate the following account balances: Required: 1. Using this information, calculate Rumsfords receivable turnover ratio. (Note: Round to two decimal places.) 2. Using this information, calculate Rumsfords asset turnover ratio and also convert the ratio into days.
Unusual income statement items Assume that the amount of each of the following items is material to the financial statements. Classify each item as either normally recurring (NR) or unusual (U) items. If unusual item, then specify if it is a discontinued operations item (DO). a. Interest revenue on notes receivable. b. Gain on sale of segment of the company's operations that manufactures bottling equipment. c.Loss on sale of investments in stocks and bonds. d. Uncollectible accounts expense. e. Uninsured flood loss. (Hood insurance is unavailable because of periodic Hooding in the area.)
Use the current asset section of the balance sheets of the Waverley Company as of June 30, 2017 and 2016 presented below to answer the questions that follow. 2017 2016Cash and cash equivalents R 75,000 R 58,800Trade accounts receivable, net 157,500 193,200Inventory 208,200 253,400Other current assets 18,400 15,500Total current assets R 459,100 R 520,900Total assets R2,650,000 R3,430,000Required:Complete a horizontal analysis of the current asset section of Waverley Company’s balance sheet for 2017. Your answers for “% Change” should be rounded to one decimal place, e.g.,…
Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
One Stop, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash $26,800 $14,900 Accounts Receivable 26,700 25,500 Merchandise Inventory 79,900 91,900 Long-term Assets: Land 35,400 8,000 Plant Assets 117,550 109,150 Accumulated Depreciation—Plant Assets (19,650) (15,450) Total Assets $266,700 $234,000 Liabilities Current Liabilities: Accounts Payable $35,000 $30,700 Accrued Liabilities 28,600 30,200 Long-term Liabilities: Notes Payable 73,000 105,000 Total Liabilities 136,600 165,900 Stockholders' Equity Common Stock, no par 88,200 64,300 Retained Earnings 41,900 3,800 Total Stockholders' Equity 130,100 68,100 Total Liabilities and Stockholders' Equity $266,700 $234,000 One Stop, Inc. Income Statement Year Ended December 31,…
Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings 2021 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debl-equity ratio. 1. Equity multiplier j. Times interest earned ratio $ 3,031 4,737 12,598 $20,366 $ 54,277 $ 74,643 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable 2021 $ 188,570 126,803 5,273 $ 56,494 1,370 $ 55,124 19,293 $ 35,831 $ 11,965 23,866 times times times $ 3,007 5,721 13,722 $ 22,450 times times times $ 79,709…
Calculate the following ratios from the income statement and balance sheet all are required 1-Payables Turnover 2-Debt-Equity Ratio 3-Debt Ratio 4-Total Asset Turnover 5-Fixed Asset Turnover Statement of financial positionas at 31 December 2018 2018 2017 Note RO RO ASSETS Non-current assets Property, plant and equipment 14 8,407,572 9,300,442 Deferred tax assets 12 40,977 18,550 8,448,549 9,318,992 Current assets Inventories 15 430,885 422,421 Trade and other receivables 16 1,129,440 1,235,724 Due from related parties 24 70,300 73,050 Cash and bank balances 17 6,856,734 6,439,709 Total current assets 8,487,359 8,170,904 Total assets 16,935,908 17,489,896 EQUITY…
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Computing Asset Ratios The following information relates to Mazy's Inc. $ millions Total Assets Revenue Net Income Fiscal Year 2015 $47,325 $62,282 $2,461 Fiscal Year 2014 46,926 Mazy's fiscal years for 2015 and 2014 end on January 30, 2016, and January 31, 2015, respectively. Note: Carry all decimals in calculations; enter the answers rounded to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for 1.425. a. Compute the asset turnover ratio for fiscal year 2015. Answer b. Compute the return on assets ratio for fiscal year 2015. Answer
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