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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 %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 %
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 %
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