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Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance $ 45,500 $ 39,200 $ 82,000 $ 61,200 $ 67,600 $82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 689,200 Cash Accounts receivable Inventory Current assets Total assets $ 648,000 Current liabilities $ 72,500 Total liabilities $ 188,000 Common stock, $1 par value $ 145,000 Total stockholders' equity $ 460,000 Total liabilities and stockholders' equity $ 648,000 This Year Sales (all on account) $ 900,000 Cost of goods sold $ 522,000 Gross margin $ 378,000 Net operating income $228,000 $ 12.000 $ 195,100 Interest expense

Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance $ 45,500 $ 39,200 $ 82,000 $ 61,200 $ 67,600 $82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 689,200 Cash Accounts receivable Inventory Current assets Total assets $ 648,000 Current liabilities $ 72,500 Total liabilities $ 188,000 Common stock, $1 par value $ 145,000 Total stockholders' equity $ 460,000 Total liabilities and stockholders' equity $ 648,000 This Year Sales (all on account) $ 900,000 Cost of goods sold $ 522,000 Gross margin $ 378,000 Net operating income $228,000 $ 12.000 $ 195,100 Interest expense

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3P: On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a...
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Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance $ 45,500 $ 39,200 $ 82,000 $ 61,200 $ 67,600 $ 82,000 $ 195,100 $ 182,400 Total assets $ 648,000 $ 689,200 Current liabilities $ 72,500 $ 73,500 Total liabilities $ 188,000 $ 169,200 Common stock, $1 par value $ 145,000 $ 145,000 Total stockholders' equity $ 460,000 $ 520,000 Total liabilities and stockholders' equity $ 648,000 $ 689,200 Cash Accounts receivable Inventory Current assets This Year $ 900,000 $ 522,000 $ 378,000 $228,000 $ 12,000 $ 151,200 12. What is the total asset turnover Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income Total asset turnover
Transcribed Image Text:Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance $ 45,500 $ 39,200 $ 82,000 $ 61,200 $ 67,600 $ 82,000 $ 195,100 $ 182,400 Total assets $ 648,000 $ 689,200 Current liabilities $ 72,500 $ 73,500 Total liabilities $ 188,000 $ 169,200 Common stock, $1 par value $ 145,000 $ 145,000 Total stockholders' equity $ 460,000 $ 520,000 Total liabilities and stockholders' equity $ 648,000 $ 689,200 Cash Accounts receivable Inventory Current assets This Year $ 900,000 $ 522,000 $ 378,000 $228,000 $ 12,000 $ 151,200 12. What is the total asset turnover Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income Total asset turnover
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