Oriole Medical Comparative Income Statement and Statement of Retained Earnings For the Year Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year a. Debt ratio b. Debt-to-equity ratio 2019 $9,613,900 5,298,700 4,564,650 4,315,200 2,840,300 2,634,100 1,724,350 1,681,100 308,650 C. Times interest earned ratio 2020 $10,177,200 5,612,550 300,300 1,424,050 427,215 $996,835 29,550 433,400 462,950 533,885 3,660,365 $4,194,250 1,372,450 411,735 Calculate the following leverage ratios for 2020. (Round all answers to 2 decimal places, e.g. 2.55% or 2.55.) $960,715 29,550 413,100 442,650 518,065 3,142,300 $3,660,365 % times

Oriole Medical Comparative Income Statement and Statement of Retained Earnings For the Year Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year a. Debt ratio b. Debt-to-equity ratio 2019 $9,613,900 5,298,700 4,564,650 4,315,200 2,840,300 2,634,100 1,724,350 1,681,100 308,650 C. Times interest earned ratio 2020 $10,177,200 5,612,550 300,300 1,424,050 427,215 $996,835 29,550 433,400 462,950 533,885 3,660,365 $4,194,250 1,372,450 411,735 Calculate the following leverage ratios for 2020. (Round all answers to 2 decimal places, e.g. 2.55% or 2.55.) $960,715 29,550 413,100 442,650 518,065 3,142,300 $3,660,365 % times

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

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 24E

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