During the year, Shields Corp. generated a net income of $123,547 on sales of $1,540,005. At the end of the year, Shields had total assets of $920,558 and total equity of $403,346. Conduct a DuPont analysis to identify Shields's return on equity and the return's three components.
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- Comparative balance sheets report average total assets for the year of $2,450,000 and average totalequity of $1,825,000 (dollar amounts in thousands, except earnings per share).a. Prepare an income statement for the year in a multiple-step format.b. Compute the ( 1 ) gross profit rate, ( 2 ) net income as a percentage of net sales, ( 3 ) return onassets, and ( 4 ) return on equity for the year. (Round computations to the nearest one-tenth of1 percent.)c. Explain why interest revenue is not included in the company’s gross profit computationPresented below are summary financial data from Pebble Company’s annual report: Assume that the Pebble Company is all equity financed. Calculate the following ratios for Years 1 and 2: Return on equity, Return on assets (levered), Return on sales (levered), Total asset turnover, Financial leverageThe most recent income statement of Marble Resurfacing, Inc. reported net sales of $23,600, EBIT of $6,836, taxable income of $5,260 and net income of $4,470. The firm paid $1,368 in dividends. The balance sheet reported current assets of $5,860, net fixed assets of $19,600, current liabilities of $2,470, long-term debt of $8,800, common stock of $10,000 and retained earnings of $4,190. The profit margin, the debt-equity ratio, and the dividend payout ratio for Marble Resurfacing are constant. Sales are expected to increase by $3,400 next year. What is the projected addition to retained earnings for next year?
- Flitter reported net income of $23,500 for the past year. At the beginning of the year the company had $212,000 in assets and $62,000 in liabilities. By year end, assets had increased to $312,000 and liabilities were $87,000. Calculate its return on assets: Multiple Choice 11.1%. 9.0%. 7.5%. 35.7%. 26.0%.Do not use ai don'tSelected current year-end financial statements of Genesis Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. Compute the following: total asset turnover, return on total assets, and return on equity. Round to one decimal place.
- Six measures of solvency or profitabilityThe following data were taken from the financial statements of GatesInc. for the current fiscal year. Assuming that long-term investments totaled $3,000,000 throughout theyear and that total assets were $7,000,000 at the beginning of the currentfiscal year, determine the following: (A) ratio of fixed assets to long-termliabilities, (B) ratio of liabilities to stockholders' equity, (C) assetturnover, (D) return on total assets, (E) return on stockholders" equity,and (F) return on common stockholders' equity. (Round ratios andpercentages to one decimal place as appropriate.)Blossom Company reports the following information (in millions) during a recent year: net sales, $23,575.2; net earnings, $653.6; total assets, ending, $9,055.2; and total assets, beginning, $8,933.4. Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin ratios. (Round answers to 1 decimal place, e.g. 15.2% or 15.1.) (1) (2) (3) Return on assets Asset turnover Profit margin % times %Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
- Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 3 by expressing each line item for Year 3 as a percentage of that same line item from Year 1. (Note: Round percentages to the nearest tenth of a percent.)Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Čardinal Industries had the following operating results for 2018: Sales = $34,621; Cost of goods sold Dividends paid = $2,023. At the beginning of the year, net fixed assets were $19,970, current assets were $7,075, and current liabilities were $4,01O. At the end of the year, net fixed assets were $24,529, current assets were $8,702, and current liabilities were $4,700. The tax rate for 2018 was 25 percent. $24,359; Depreciation expense = $6,027; Interest expense $2,725; %3D a. What is net income for 2018? (Do not round intermediate calculations.) b. What is the operating cash flow for 2018? (Do not round intermediate calculations.) c. What is the cash flow from assets for 2018? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) d- If no new debt was issued during the year, what is the cash flow to creditors? (Do not 1. round intermediate calculations.) d- If no new debt was issued during the year, what is the cash flow to stockholders? (Do…