For the Years Ended December 31, 20Y2 and 20Y1 Inc. Comparative Income Statement 20Y2 20Υ1 Sales $10,000,000 $9,400,000 Cost of goods sold.. Gross profit.. Selling expenses Administrative expenses. 5,350,000 $ 4,650,000 $ 2,000,000 4,950,000 $4,450,000 $1,880,000 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 Total operating expenses Income from operations $3,290,000 $1,160,000 Other revenue..... 150,000 $ 1,300,000 140,000 $1,300,000 Other expense (interest) 170,000 150,000 Income before income tax $ 1,130,000 $1,150,000 Income tax expense 230,000 225,000 Net income ... $ 900,000 $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Assets Current assets: Cash $ 500,000 $ 400,000 Marketable securities. 1,010,000 1,000,000 Accounts receivable (net) 740,000 510,000 Inventories 1,190,000 950,000 Prepaid expenses Total current assets.. 250,000 229,000 $3,690,000 $3,089,000 2,300,000 Long-term investments. Property, plant, and equipment (net) Total assets 2,350,000 3,740,000 3,366,000 $8,755,000 $9,780,000 Liabilities Current liabilities.. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%.. Bonds payable, 10%. Total long-term liabilities Total liabilities $ 200,000 2$ 1,500,000 $1,700,000 1,500,000 $1,500,000 $2,380,000 $2,600,000 Stockholders' Equity Preferred $0.90 stock, $10 par... Common stock, $5 par. $ 500,000 $ 500,000 500,000 500,000 Retained earnings.. 6,180,000 5,375,000 Total stockholders' equity.. Total liabilities and stockholders' equity... $7,180,000 $6,375,000 $9,780,000 $8,755,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, excent for per-share amounts:

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.19P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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PR17-4B Measures of liquidity, solvency and profitability
The comparative financial statements of Stargel Inc. are as follows. The market price of
Stargel common stock was $119.70 on December 31, 20Y2.
Stargel Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 20Y2 and 20Y1
20Y2
20Y1
Retained earnings, January 1
$5,375,000
%244,545,000
Net income
925,000
Total
$6,275,000
%245,470,000
Dividends:
Preferred stock dividends
%2 45,000
Common stock dividends
Total dividends
to 00
Retained earnings, December 31
$46,180,000
$5,375,000
..

877
percentages, except for per-share amounts:
For the Years Ended December 31, 20Y2 and 20Y1
Total liabilities and stockholders' equity......
Stargel Inc.
Comparative Income Statement
20Υ2
20Υ1
Sales..
$10,000,000
$9,400,000
Cost of goods sold...
Gross profit...
Selling expenses...
Administrative expenses.
...
5,350,000
$ 4,650,000
$ 2,000,000
4,950,000
$4,450,000
$1,880,000
Total operating expenses...
Income from operations.
Other revenue..
1,500,000
$ 3,500,000
$ 1,150,000
1,410,000
$3,290,000
$1,160,000
150,000
$ 1,300,000
140,000
$1,300,000
Other expense (interest)
170,000
$ 1,130,000
150,000
Income before income tax
$1,150,000
Income tax expense.
230,000
225,000
$ 925,000
Net income
$ 900,000
...
Stargel Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
20Υ2
20Υ1
Assets
Current assets:
Cash
$ 500,000
$ 400,000
...
Marketable securities...
Accounts receivable (net)...
1,010,000
1,000,000
740,000
510,000
Inventories...
1,190,000
950,000
Prepaid expenses.
250,000
229,000
Total current assets.
$3,690,000
$3,089,000
Long-term investments
2,350,000
2,300,000
Property, plant, and equipment (net)..
Total assets...
3,740,000
3,366,000
$9,780,000
$8,755,000
Liabilities
Current liabilities....
$ 900,000
$ 880,000
Long-term liabilities:
Mortgage note payable, 10%..
Bonds payable, 10%.....
Total long-term liabilities.....
Total liabilities
$ 200,000
%24
0.
1,500,000
$1,700,000
$2,600,000
1,500,000
$1,500,000
$2,380,000
Stockholders' Equity
Preferred $0.90 stock, $10 par.. . ..
Common stock, $5 par.....
$ 500,000
$ 500,000
500,000
500,000
Retained earnings....
6,180,000
$7,180,000
5,375,000
$6,375,000
Total stockholders' equity.....
Total liabilities and stockholders' equity..
$9,780,000
$8,755,000
Instructions
etermine the following measures for 20Y2, rounding to one decimal place including
Percentages, except for per-share amounts:

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