Do fast and easy calculation for this accounting question not use ai Maggie's Skunk Removal Corp:'s 2015 income statement listed net sales of $13.6million, gross profit of $8.40 million, EBIT of $6.7 million, net income available tocommon stockholders of $4.3 million, and common stock dividends of $2.3 million.The 2015 year-end balance sheet listed total assets of $53 million and commonstockholders' equity of $22.1 million with 2.0 million shares outstanding.Calculate the profit margin. (Round your answer to 2 decimal places.)Calculate the gross profit margin. (Round your answer to 2 decimal places.)Calculate the operating profit margin. (Round your answer to 2 decimal places.)

Step 1: Define Income StatementThe first derivation of the income statement is the gross profit…

Answered: Maggie's Skunk Removal Corp:'s 2015…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

See similar textbooks

Similar questions

Maggie’s Skunk Removal Corp.’s 2015 income statement listed net sales = $12.5 million, gross profit of $6.9 million, EBIT = $5.6 million, net income available to common stockholders = $3.2 million, and common stock dividends = $1.2 million. The 2015 year-end balance sheet listed total assets of $52.5 million and common stockholders equity of $21 million with 2 million shares outstanding. Calculate the profit margin, gross profit margin, operating profit margin, ROA and ROE.
Maggie's Skunk Removal Corp.s 2018 income statement listed net sales of $13.8 million, gross profit of $8.70 million, EBIT of $6.9 million, net income available to common stockholders of $4.5 million, and common stock dividends of $25 million. The 2018 year-end balance sheet listed total assets of $53.8 million and common stockholders' equity of $223 million with 20 million shares outstanding. Calculate the gross profit margin. (Round your answer to 2 declmal places.) Gross profit margin Calculate the operating profit margin. (Round your answer to 2 declmal places.) Operating profit Calculate the profit margin. (Round your answer to 2 declmal places.) Profit margin Calculate the basic earnings power (Round your answer to 2 declmal places.) Basic earnings power 11:40 AM 59 F Mostly cloudy ype here to search 10/31/2021 DELL
Maggie’s Skunk Removal Corp.’s 2021 income statement listed net sales of $13.7 million, gross profit of $8.20 million, EBIT of $6.8 million, net income available to common stockholders of $4.4 million, and common stock dividends of $2.4 million. The 2021 year-end balance sheet listed total assets of $53.7 million and common stockholders' equity of $22.2 million with 2.0 million shares outstanding. Calculate the gross profit margin. (Round your answer to 2 decimal places.) Gross Profit margin % Calculate the operating profit margin. (Round your answer to 2 decimal places.) Operating Margin % Calculate the profit margin. (Round your answer to 2 decimal places.) Profit margin % Calculate the basic earnings power. (Round your answer to 2 decimal places.) Baic earnings power % Calculate the return on assets. (Round your answer to 2 decimal places.) Return on Assets % Calculate the return on equity. (Round your answer to 2…
Presented below are the comparative incomes and retained earnings statements for Blue Inc. for the years 2017 and 2018. 2018 2017 Sales $353,000 $276,000 Cost of sales 195,000 150,000 Gross profit 158,000 126,000 Expenses 89,600 49,100 Net income $68,400 $76,900 Retained earnings (Jan. 1) $121,500 $69,900 Net income 68,400 76,900 Dividends (30,800 ) (25,300 ) Retained earnings (Dec. 31) $159,100 $121,500 The following additional information is provided: 1. In 2018, Blue Inc. decided to switch its depreciation method from sum-of-the-years’ digits to the straight-line method. The assets were purchased at the beginning of 2017 for $102,500 with an estimated useful life of 4 years and no salvage value. (The 2018 income statement contains depreciation…
ena Company has provided the following data (ignore income taxes): 2014 revenues were $76,000. 2014 expenses were $48,500. Dividends declared and paid during 2014 totaled $7,600. Total assets at December 31, 2014 were $184,000. Total liabilities at December 31, 2014 were $103,000. Common stock at December 31, 2014 was $26,000. Which of the following is correct?
The following amounts were taken from the financial statements of Blue Spruce Corp.: 2017 2016 Total assets $821000 $1017000 Net sales 744000 656000 Gross profit 366000 321000 Net income 111000 118000 Weighted average number of 97500 97500 common shares outstanding Market price of common stock $49 $46 The profit margin ratio for 2017 is 14%. 18%. 16%. 15%.
For its fiscal year ending on June 30, 2018, Microsoft reported net income of $12.96 billion from sales of $112.97 billion. The company also reported total assets of $245.56 billion. a. Calculate Microsoft's total asset turnover and its net profit margin. b. Find the company's ROA, ROE, and book value per share, given that it has a total net stockolders' equity of $75.89 billion and 6.86 billion shares of common stock outstanding. a. Microsoft's total asset turnover is (Round to two decimal places.)
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…
Stosch Company's balance sheet reported assets of $117,000, liabilities of $30,000 and common stock of $27,000 as of December 31, 2015. If Retained Earnings on the December 31, 2016 balance sheet is $78,000 and Stosch paid a $29,000 dividend during 2016, then the amount of net income for 2016 was which of the following? $47,000 $60,000 $29,000 $18,000
Requirement: Use the 2015 data for Prince Company. Assume a stock price of $28 per share. Compute the ratios. Prince Company paid $7,000 out in dividends for the year. Show how you can figure out that the company paid $7,000 out in dividends for the year. 2015 2014 Income Statement Sales revenue 190,000 167,000 Cost of goods sold 112,000 100,000 Gross profit 78,000 67,000 Operating expenses and interest expenses 56,000 53,000 Pretax income 22,000 14,000 Income tax 8,000 4,000 Net income 14,000 10,000 Balance Sheet Cash 4,000 7,000 Accounts receivable (net) 14,000 18,000 Inventory 40,000 34,000 Operational assets (net) 45,000 38,000 Total assets 103,000 97,000 Current liabilities (no interest) 16,000 17,000 Long-term liabilities (10% interest) 45,000 45,000 Common stock (par $5) 30,000…
Krogen Grocer's 2016 balance sheet shows average stockholders’ equity of $12,000 million, net operating profit after tax of $1,140million, net income of $380 million, and common shares issued of $1,916 million.The company has no preferred shares issued. Krogen Grocer’s return on common stockholders’ equity for the year is:
Here is the income statement for Larkspur, Inc. LARKSPUR, INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $443,400 Cost of goods sold 224,700 Gross profit 218,700 Expenses (including $16,700 interest and $24,600 income taxes) 87,600 Net income $ 131,100 Additional information: 1. Common stock outstanding January 1, 2022, was 27,600 shares, and 36,700 shares were outstanding at December 31, 2022. 2. The market price of Larkspur stock was $15 in 2022. 3. Cash dividends of $22,700 were paid, $6,900 of which were to preferred stockholders. Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter earnings per share in dollars (b) Price-earnings ratio enter price-earnings ratio in times times (c) Payout ratio enter payout ratio in percentages % (d) Times interest earned enter times interest…

SEE MORE QUESTIONS

Recommended textbooks for you

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

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

Publisher:

Cengage Learning

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

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

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS