Please do not give image format The balance sheets for Dual Monitors Corporation and additional information are provided below.DUAL MONITORS CORPORATIONBalance Sheets.December 31, 2024 and 2023AssetsCurrent assets:CashAccounts receivableInventoryInvestments.Long-term assets:LandEquipmentLess: Accumulated depreciationTotal assetsLiabilities and Stockholders' EquityCurrent liabilities:Accounts payableInterest payableIncome tax payableLong-term liabilities:Notes payableStockholders' equity:Common stockRetained earningsTotal liabilities and stockholders' equity.Additional information for 2024:1. Net income is $122,160.2. Sales on account are $1,314,800. (All sales are credit sales.)3. Cost of goods sold is $1,035,050.2024$180, 16066,00089,0003,4002023$114,00086,00074,0001,400420,000420,000730,000610,000(368,000) (208,000)$1,120,560$1,097,400$93,800$79,0005,00011,4007,0004,400110,000220,000640,000640,000264,760142,600$1,120,560 $1,097,400 Required:1. Calculate the following profitability ratios for 2024:2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity?Complete this question by entering your answers in the tabs below.Required 1 Required 2Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.)Profitability Ratiosa. Gross profit ratiob. Return on assetsc. Profit margind. Asset turnovere. Return on equity%%%times%ered 1Required 2 >

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e balance sheets for Dual Monitors Corporation and additi DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable. Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 2024 $180, 160 66,000 89,000 3,400 420,000 730,000 (368,000) 2023 $93,800 5,000 7,000 110,000 640,000 264,760 $114,000 86,000 74,000 1,400 420,000 610,000 (208,000) $1,120,560 $1,097,400 $79,000 11,400 4,400 220,000 640,000 142,600 $1,120,560 $1,097,400

e balance sheets for Dual Monitors Corporation and additi DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable. Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 2024 $180, 160 66,000 89,000 3,400 420,000 730,000 (368,000) 2023 $93,800 5,000 7,000 110,000 640,000 264,760 $114,000 86,000 74,000 1,400 420,000 610,000 (208,000) $1,120,560 $1,097,400 $79,000 11,400 4,400 220,000 640,000 142,600 $1,120,560 $1,097,400

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 33BEB: The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as...

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The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
The balance sheets for Monitor World Corporation and additional information are provided below. MONITOR WORLD CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 1. Net income is $128,400. 2. Sales on account are $1,702,000. 3. Cost of goods sold is $1,276,500. Complete this question by entering your answers in the tabs below. a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio 2024 times times $176,400 88,000 100,000 4,500 % Required: 1. Calculate the following risk ratios for 2024: 2. When we compare…
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The Murdock Corporation reported the following balance sheet data for 2024 and 2023: Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity 2024 $ 87,365 20,000 89,000 2023 $ 28,355 94,000 76,350 174,000 153,100 2,310 2,900 1,268,000 (619,000) $ 1,021,675 1,134,000 (581,000) $ 907,705 $ 84,440 $ 157,670 23,600 29,000 33,100 84,000 209,000 300,000 300,000 371,535 337,035 $1,021,675 $ 907,705 Additional information for 2024: 1. Sold available-for-sale debt securities costing $74,000 for $79,400. 2. Equipment costing $20,000 with a book value of $5,900 was sold for $7,350. 3. Issued 6% bonds payable at face value, $209,000. 4. Purchased new equipment for $154,000 cash. 5. Paid cash dividends of $24,500. 6. Net income was…
Required: 1. Calculate the following risk ratios for 2024: 2. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.) Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio times times % Required 1 Required 2 >
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