Assets Current assets Cash Accounts receivable, net Inventory Other current assets Total current assets Ivanhoe Medical Comparative Balance Sheet As of December 31 Property, plant, & equipment, net Total assets 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 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value 58,900 Common stock, $0.25 par value 104,700 Retained earnings 4,193,775 Total stockholders' equity 4,357,375 Total liabilities and stockholders' equity $11,261,025 $10,561,895 Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 2020 a. Gross margin percentage b. Return on assets $380,000 1,035,000 726,000 381,400 Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year $417,500 776,500 681,050 247,000 2,522,400 2,122,050 8,738,625 8,439,845 $11,261,025 $10,561,895 $3,201,000 3,702,650 6,903,650 2020 $10,177,200 2,840,250 c. Return on common stockholders' equity 2019 2019 $9,613,900 5,613,150 5,298,750 4,564,050 4,315,150 2,634,150 1,681,000 308,650 1,372,350 411,705 $960,645 1,723,800 300,400 1,423,400 427,020 $996,380 29,550 $2,846,100 3,892,600 6,738,700 58,900 103,900 3,660,395 433,450 3,823,195 Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1 %.) 29,550 413,050 442,600 463,000 533,380 518,045 3,660,395 3,142,350 $4,193,775 $3,660,395 44,84 % .08 % 8.89 %
Assets Current assets Cash Accounts receivable, net Inventory Other current assets Total current assets Ivanhoe Medical Comparative Balance Sheet As of December 31 Property, plant, & equipment, net Total assets 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 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value 58,900 Common stock, $0.25 par value 104,700 Retained earnings 4,193,775 Total stockholders' equity 4,357,375 Total liabilities and stockholders' equity $11,261,025 $10,561,895 Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 2020 a. Gross margin percentage b. Return on assets $380,000 1,035,000 726,000 381,400 Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year $417,500 776,500 681,050 247,000 2,522,400 2,122,050 8,738,625 8,439,845 $11,261,025 $10,561,895 $3,201,000 3,702,650 6,903,650 2020 $10,177,200 2,840,250 c. Return on common stockholders' equity 2019 2019 $9,613,900 5,613,150 5,298,750 4,564,050 4,315,150 2,634,150 1,681,000 308,650 1,372,350 411,705 $960,645 1,723,800 300,400 1,423,400 427,020 $996,380 29,550 $2,846,100 3,892,600 6,738,700 58,900 103,900 3,660,395 433,450 3,823,195 Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1 %.) 29,550 413,050 442,600 463,000 533,380 518,045 3,660,395 3,142,350 $4,193,775 $3,660,395 44,84 % .08 % 8.89 %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Calculate the wrong one's
Transcribed Image Text:Assets
Current assets
Cash
Accounts receivable, net
Inventory
Other current assets
Total current assets
Property, plant, & equipment, net
Total assets
Ivanhoe Medical
Comparative Balance Sheet
As of December 31
Liabilities and Stockholders' Equity
Current liabilities
Long-term debt
Total liabilities
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 pald
Net income retained
Retained earnings, beginning of year
Retained earnings, end of year
2020
Preferred stock, $5 par value
Common stock, $0.25 par value
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity $11,261,025
a. Gross margin percentage
b. Return on assets
$380,000
1,035,000
726,000
381,400
$3,201,000
3,702,650
6,903,650
247,000
2,522,400
2,122,050
8,738,625
8,439,845
$11,261,025 $10,561,895
58,900
104,700
c. Return on common stockholders' equity
4,193,775
4,357,375
2020
Ivanhoe Medical
Comparative Income Statement and Statement of Retained Earnings
For the Year
2,840,250
1,423,400
427,020
$996,380
2019
29,550
$417,500
776,500
433,450
$10,177,200 $9,613,900
5,613,150
5,298,750
4,564,050 4,315,150
681,050
463,000
$2,846,100
3,892,600
6,738,700
533,380
1,723,800 1,681,000
300,400
308,650
1,372,350
58,900
2019
103,900
3,660,395
3,823,195
$10,561,895
2,634,150
413,050
442,600
518,045
3,660,395
3,142,350
$4,193,775 $3,660,395
411,705
$960,645
Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1%.)
29,550
44,84 %
.08 %
8.89 %
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 4 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education