The ledger of Sunland Corporation at November 30, 2024, contains the following summary data: Cash dividends- common Cash dividends- preferred Common shares Cost of goods sold Depreciation expense Sales 1. 2. 3. $63,500 Operating expenses Your analysis reveals the following additional information: Sales 25,000 Cost of Goods Sold 318,500 7,250,000 347,000 9,017,000 Gross Profit Other comprehensive income-loss on equity investments (before income tax) Rent revenue Preferred shares ($5 noncumulative) Retained earnings, December 1, 2023 Prepare a multiple-step income statement for the year. (Round earnings per share to 2 decimal places, e.g. 15.25.) The company has a 25% income tax rate. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $16,400 before income tax. The division was sold at a loss of $73,500 before income tax. There were 200,000 common and 5,000 preferred shares issued on December 1, 2023, with no changes during the year. + Ĉ ; SUNLAND CORPORATION Income Statement Year Ended November 30, 2024 : $ $1,107,000 $ 77,000 45,000 387,000 738,000

The ledger of Sunland Corporation at November 30, 2024, contains the following summary data: Cash dividends- common Cash dividends- preferred Common shares Cost of goods sold Depreciation expense Sales 1. 2. 3. $63,500 Operating expenses Your analysis reveals the following additional information: Sales 25,000 Cost of Goods Sold 318,500 7,250,000 347,000 9,017,000 Gross Profit Other comprehensive income-loss on equity investments (before income tax) Rent revenue Preferred shares ($5 noncumulative) Retained earnings, December 1, 2023 Prepare a multiple-step income statement for the year. (Round earnings per share to 2 decimal places, e.g. 15.25.) The company has a 25% income tax rate. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $16,400 before income tax. The division was sold at a loss of $73,500 before income tax. There were 200,000 common and 5,000 preferred shares issued on December 1, 2023, with no changes during the year. + Ĉ ; SUNLAND CORPORATION Income Statement Year Ended November 30, 2024 : $ $1,107,000 $ 77,000 45,000 387,000 738,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...

See similar textbooks

Similar questions

Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round 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
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2, 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
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Dividends per share of common stock
Profitability metrics The following selected data were taken from the financial statements of The O'Malley Group Inc. for December 31, 20Y5. 20Y4. and 20Y3: No dividends on common stock were declared between 20Y3 and 20Y5. a.Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity Tor the years 20Y4 and 20Y5. Round to one decimal place. b. What conclusions can be drawn from these data as to the company's profitability?
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA)? Inventory 12,500Current Assets 50,000Current Liabilities 40,000Non-current Assets 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 18.5%b. 12.2%c. 9.23%d. 13.3%
Measures of liquidity, Solvency, and ProfitabilityThe comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 on December 31, 20Y2.Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y220Y1Retained earnings, January 1$4,135,050 $3,490,250 Net income960,000 714,900 Total$5,095,050 $4,205,150 Dividends: On preferred stock$11,900 $11,900 On common stock58,200 58,200 Total dividends$70,100 $70,100 Retained earnings, December 31$5,024,950 $4,135,050 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y220Y1Sales$5,259,650 $4,846,000 Cost of goods sold1,905,300 1,752,880 Gross profit$3,354,350 $3,093,120 Selling expenses$1,079,350 $1,358,360 Administrative expenses919,450 797,770 Total operating expenses$1,998,800 $2,156,130 Income from operations$1,355,550 $936,990 Other revenue71,350 59,810 $1,426,900 $996,800 Other expense…
Profitability ratiosThe following selected data were taken from the financial statements ofVidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: 20Y7 20Y6 20Y5 Total Assests $4,800,000 $4,400,000 $4,000,000 Notes payable (8% interest) 250,0000 2,250,000 2,250,000 Common stock 250,000 250,000 250,000 Preferred 4% stock, $100 par (no change during year) 500,000 500,000 500,000 Retained earnings 1,574,000 1,222,000 750,000 The 20Y7 net income was $372,000, and the 20Y6 net income was$492,000. No dividends on common stock were declared between 20Y5and 2017. Preferred dividends were declared and paid in full in 2016 and20Y7. A. Determine the return on total assets, the rate earned onstockholders' equity, and the return on common stockholders'equity for the years 2016 and 2017. (Round percentages to one decimal place.)B. What conclusions can be drawn from these data as to thecompany's profitability?
Comparative financial statement data for Culver Corporation and Flint Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding Culver Corporation 2022 $2,412,000 1.574,500 379,220 9,080 114,000 488,950 710,050 88,900 138,910 184,920 120,600 48,240 80,000 Flint Corporation 2022 $830,800 455,600 131,320 3,140 48,240 198,880 185,020 45,200 31.580 48,240 26,800 20,100 50,000
Measures of liquidity, solvency, and profitabilityThe comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. InstructionsDetermine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts):1. Working capital2. Current ratio3. Quick ratio4. Accounts receivable turnover5. Number of days' sales in receivables6. Inventory turnover7. Number of days' sales in inventory8. Ratio of fixed assets to long-term liabilities9. Ratio of liabilities to stockholders' equity10. Times interest earned11. Asset turnover12. Return on total assets13. Return on stockholders' equity14. Return on common stockholders' equity15. Earnings per share on common stock16. Price-earnings ratio17. Dividends per share of common stock18. Dividend yield
answer just #12 and #14. Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y1 Line Item Description 20Y2 20Y1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income $600,000 $550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Increase in retained earnings $490,000 $440,000 Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1 Line Item Description 20Y2 20Y1 Sales $10,850,000 $10,000,000 Cost of goods sold (6,000,000) (5,450,000) Gross profit $4,850,000 $4,550,000 Selling expenses $(2,170,000) $(2,000,000) Administrative expenses (1,627,500)…
The following data was taken from the accounting records of Pina Colada Corporation: Total assets Total liabilities Preferred shares Common shares Retained earnings Additional data: Net income Interest expense Sales revenue 2024 O 20.1% 21.1% 19.1% 18.1% 2023 $962000 $883000 271000 250000 81300 81300 303000 303000 The return on assets for 2024 is 306700 248700 167000 35500 981000
Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year. Fill out the chart. Working capital Current ratio Quick ratio Accounts receivable turnover Number of days' sales in receivables days Inventory turnover Number of days' sales in inventory days Ratio of fixed assets to long-term liabilities Ratio of liabilities to stockholders' equity Times interest earned Asset turnover Return on total assets % Return on stockholders' equity % Return on common stockholders' equity Earnings per share on common stock Price-earnings ratio Dividends per share of common stock Dividend yield %