Condensed balance sheet and income statement data for Vaughn Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Vaughn Corporation Balance Sheets December 31 Net sales Cost of goods sold Gross profit Sales Less: Sales returns and allowances Net income 2022 $29,400 50,300 90,000 55,000 500,600 $725,300 $85,900 146,000 330,000 163,400 $725,300 Vaughn Corporation Income Statements For the Years Ended December 31 Operating expenses (including income taxes) 2021 $17,700 2022 95,200 69,400 370,000 $596,700 $79,000 84,200 44,400 309,000 124,500 $596,700 $736,000 40,900 695,100 426,300 268,800 185,388 $83,412 2020 $ 18,000 48.500 64,700 45,800 357,600 $534,600 $70.600 49,600 312.000 102,400 $534,600 2021 $606,900 30,600 576,300 371,000 205,300 147,670 $57,630
Condensed balance sheet and income statement data for Vaughn Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Vaughn Corporation Balance Sheets December 31 Net sales Cost of goods sold Gross profit Sales Less: Sales returns and allowances Net income 2022 $29,400 50,300 90,000 55,000 500,600 $725,300 $85,900 146,000 330,000 163,400 $725,300 Vaughn Corporation Income Statements For the Years Ended December 31 Operating expenses (including income taxes) 2021 $17,700 2022 95,200 69,400 370,000 $596,700 $79,000 84,200 44,400 309,000 124,500 $596,700 $736,000 40,900 695,100 426,300 268,800 185,388 $83,412 2020 $ 18,000 48.500 64,700 45,800 357,600 $534,600 $70.600 49,600 312.000 102,400 $534,600 2021 $606,900 30,600 576,300 371,000 205,300 147,670 $57,630
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please Explain Proper Step by Step and Do Not Give Solution In Image Format And Fast Answering Please & Thanks In Advance

Transcribed Image Text:Additional information:
1.
2.
(a)
Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, eg. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%)
(1)
(2)
(3)
(4)
(5)
(6)
The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively.
You must compute dividends declared. All declared dividends were paid in cash in the year of declaration.
(7)
Profit margin
Gross profit rate
Asset turnover
Earnings per share $
Price-earnings ratio
Payout ratio
Debt to assets ratio
2022
%
%
times
times
%
%
$
2021
%
%
times
times
%

Transcribed Image Text:Question 5 of 5
< >
Condensed balance sheet and income statement data for Vaughn Corporation are presented here.
Cash
Accounts receivable (net)
Other current assets
Investments
Property, plant, and equipment (net)
Current liabilities
Long-term debt
Common stock, $10 par
Retained earnings
Vaughn Corporation
Balance Sheets
December 31
2022
$ 29,400
50,300
Net income
90,000
55,000
500,600
$725,300
$85,900
146,000
330,000
163,400
$725,300
Vaughn Corporation
Income Statements
For the Years Ended December 31
Sales
Less: Sales returns and allowances
Net sales
Cost of goods sold
Gross profit
Operating expenses (including income taxes)
2021
$17,700
44,400
95,200
69,400
370,000
$596,700
$79,000
2022
309,000
84,200
124,500
$596,700
$736,000
40,900
695,100
426,300
268,800
185,388
$83,412
2021
$18,000
48,500
64,700
45,800
357,600
$534,600
$70,600
49,600
312,000
102,400
$534,600
2020
$606,900
30,600
576,300
371,000
205,300
147,670
$57,630
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