Condensed balance sheet and income statement data for Culver Corporation are presented here. Cash Accounts receivable (net) Other current assets CULVER CORPORATION Balance Sheets December 31 Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings 2026 2025 $31.000 $21,000 $19.000 51.000 46,000 49.000 94.000 68.000 59.000 74,000 49,000 500.000 370,000 358.000 $735.000 $610.000 $543.000 $86.000 $81,000 $71,000 54.000 324.000 314,000 304,000 176.000 $735,000 $610.000 $543.000 2027 149,000 99,000 89,000 126,000 114.000 Sales revenue Less: Sales returns and allowances Net sales CULVER CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 2027 $744,000 37,875 706,125 428,830 277.295 181,204 $96.091 2026 $604,000 33,265 570,735 354,114 216,621 150,813 $65,808 The market price of Culver's common stock was $7.56, and $6 for 2025 2026 and 2027, respective You must compute dividends declared. All declared dividends were paid in cash in the year of declar (a) Compute the following ratios for 2026 and 2027. (Round payout ratio and debt to asset ratio to O decimal places, eg 183. Round earnings per share and asset turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, eg. 1.8 or 1.8%) 1. Profit margin- 2. Gross proht rate 3 Asset turnover 4.Earnings per share 5.Price earnings ratio 6. Payout ratio 7.Debt to assets ratio $ 2027 136 39.3 101 247 2 45.99 32 % times times % 5 2026 115 30 1 192 2.9 82.40 26
Condensed balance sheet and income statement data for Culver Corporation are presented here. Cash Accounts receivable (net) Other current assets CULVER CORPORATION Balance Sheets December 31 Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings 2026 2025 $31.000 $21,000 $19.000 51.000 46,000 49.000 94.000 68.000 59.000 74,000 49,000 500.000 370,000 358.000 $735.000 $610.000 $543.000 $86.000 $81,000 $71,000 54.000 324.000 314,000 304,000 176.000 $735,000 $610.000 $543.000 2027 149,000 99,000 89,000 126,000 114.000 Sales revenue Less: Sales returns and allowances Net sales CULVER CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 2027 $744,000 37,875 706,125 428,830 277.295 181,204 $96.091 2026 $604,000 33,265 570,735 354,114 216,621 150,813 $65,808 The market price of Culver's common stock was $7.56, and $6 for 2025 2026 and 2027, respective You must compute dividends declared. All declared dividends were paid in cash in the year of declar (a) Compute the following ratios for 2026 and 2027. (Round payout ratio and debt to asset ratio to O decimal places, eg 183. Round earnings per share and asset turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, eg. 1.8 or 1.8%) 1. Profit margin- 2. Gross proht rate 3 Asset turnover 4.Earnings per share 5.Price earnings ratio 6. Payout ratio 7.Debt to assets ratio $ 2027 136 39.3 101 247 2 45.99 32 % times times % 5 2026 115 30 1 192 2.9 82.40 26
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer do not image format
Transcribed Image Text:Condensed balance sheet and income statement data for Culver Corporation are
presented here.
Cash
Accounts receivable (net)
Other current assets.
Investments.
CULVER CORPORATION
Balance Sheets
December 31
Property, plant, and equipment (net)
Current liabilities
Long-term debt
Common stock, $10 par
Retained earnings
2027
$31.000
51.000
94.000
59,000
2026
$21,000
46,000
99,000
74,000
370,000
2025
$19.000
49,000
68,000
49,000
358.000
500,000
$735.000 $610,000 $543,000
$86.000 $81,000 $71.000
89,000
149.000
54.000
304.000
324,000
176,000 126,000 114.000
$735,000 $610,000
$543,000
314,000
CULVER CORPORATION
Income Statements
For the Years Ended December 31
Sales revenue
Less: Sales returns and allowances
Net sales
Cost of goods sold
Gross profit
Operating expenses (including income taxes)
Net income
2027
$744,000
37,875
706,125
428,830
277,295
181,204
$96,091
2026
$604,000
33,265
570,735
354,114
216,621
150,813
$65,808
The market price of Culver's common stock was $7. $6, and $6 for 2025, 2026, and 2027, respective.
You must compute dividends declared. All declared dividends were paid in cash in the year of declar
(a) Compute the following ratios for 2026 and 2027. (Round payout ratio and debt
to asset ratio to O decimal places, e.g 183. Round earnings per share and asset turnover
to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%)
1. Profit margin
2. Gross profit rate
3. Asset turnover
4. Earnings per share
5. Price-earnings ratio
6. Payout ratio
7. Debt to assets ratio
$
2027
13.6
39.3
101
247
2
45.99
32
%
%
times
times
%
%
$
2026
11.5
38
1
1.92
29
82.40
28
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