P13-7 (Algo) Analyzing Financial Statements Using Ratios LO 13-4, 13-6, 13-8 The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Year 2 $ 198,000 114,000 84,000 56,800 27,200 Year 1 $ 169,000 108,800 8,800 $ 18,400 $ 4,800 14,400 40,800 46,200 $ 106,200 $ 16,400 45,400 30,800 13,600 68,200 53,400 14,800 4,400 $ 18,400 $ 7,400 18,400 34,400 38,800 $ 99,000 $ 17,488 45,400 38,800 5,400 Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 18%) Common stock ($5 par value, 6,160 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 106,200 $ 99,000 Assume that the stock price per share is $32 and that dividends in the amount of $5.50 per share were paid during Year 2. Compute the following ratios: Note: Round your answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (1.e. 0.1234 should be entered as 12.34). Earnings per share ratio Current ratio Quick ratio Cash ratio Price earnings ratio Dividend yield ratio %

P13-7 (Algo) Analyzing Financial Statements Using Ratios LO 13-4, 13-6, 13-8 The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Year 2 $ 198,000 114,000 84,000 56,800 27,200 Year 1 $ 169,000 108,800 8,800 $ 18,400 $ 4,800 14,400 40,800 46,200 $ 106,200 $ 16,400 45,400 30,800 13,600 68,200 53,400 14,800 4,400 $ 18,400 $ 7,400 18,400 34,400 38,800 $ 99,000 $ 17,488 45,400 38,800 5,400 Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 18%) Common stock ($5 par value, 6,160 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 106,200 $ 99,000 Assume that the stock price per share is $32 and that dividends in the amount of $5.50 per share were paid during Year 2. Compute the following ratios: Note: Round your answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (1.e. 0.1234 should be entered as 12.34). Earnings per share ratio Current ratio Quick ratio Cash ratio Price earnings ratio Dividend yield ratio %

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 9.1E

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Required Information P13-6 (Algo) Computing Comparative Financial Statements and ROA Profit Driver Ratios LO 13-3. 13-4. 13-5 [The following information applies to the questions displayed below.] The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax $ 284,000 Year 2 Year 1 $ 178,500 115,500 101,400 88,500 69,100 57,400 53,700 31,100 Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 6,780 shares outstanding) Retained earnings Total liabilities and stockholders' equity P13-6 Part 1 9,400 $ 21,700 $ 5,400 14,700 15,400 4,700 $ 10,700 $ 7,700 18,700 36,800 41,400 47,100 39,400 $ 108,600 $ 102,600 $ 16,700 $ 17,700 45,700 33,500 12,700 $ 108,600 Required: 1. Compute component percentages for…
Required Information. Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 $ 396,891 238.928 2020 $ 304,051 2019 $ 211,000 190,336 135,040 157,963 113,715 75,968 56,359 41,959 27,852 35,720 26,756 17,513 92,079 68,715 45.365 65,884 45,000 30,595 12,254 9,225 6,211 $ 53,630 $ 35,775 24,384 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets Long-term investments Plant assets, net $ 61,460 B 117,725 Total assets $ 179,185 $ 148,848 $ 41,136 1.000 106,712 $ $4,989 3.260 65,072 5 123 321 Current liabilities Liabilities and Equity Common stock Other paid-in capital…
P13-7 (Algo) Analyzing Financial Statements Using Ratios LO 13-4, 13-6, 13-8 The comparative financial statements for Prince Company are below: Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (10% interest) Common stock ($5 par value, 6,080 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 $194,000 113,000 81,000 56,400 24,600 8,400 $ 16,200 $ 4,400 14,200 40,400 45,600 $104,600 $ 16, 200 45,200 30,400 12,800 $104,600 Year 1 $168,000 100, 400 67,600 53,200 14,400 4,200 $ 10,200 $ 7,200 18, 200 34,200 38,400 $ 98,000 $ 17,200 45, 200 30, 400 5, 200 $ 98,000 Assume that the stock price per share is $30 and that dividends in the amount of $4.50 per share were paid during Year 2. Compute the following ratios:…
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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31. 2020 $ 487,179 $ 373,219 2021 293,282 236,621 193,897 69,179 43,846 113,025 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets 84,347 80,872 52,251 15,042 10,711 $ 65,830 $ 41,540 KORBIN COMPANY Comparative Balance Sheets December 31 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities. Common stock Other paid-in capital Retained earnings Total liabilities and equity 136,598 51,504 32,843 2021 2020 2019 $ 259,000 165,760 93,240 34,188 21,497 55,685 37,555 7,624 $ 29,931 $ 64,678 116,492 0 $ 43,289 900 106,308 $ 181,170 $ 150,497 $ 26,451 66,000 8,250 80,469 $ 22,424 66,000 8,250 53,823 $ 181,170 $ 150,497 2019 $ 57,867 4,860 61,960 $ 124,687 $ 21,820 48,000 5,333 49,534 $ 124,687
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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities. 2021 2020 2019 $ 483,981 $ 370,769 $ 257,300 291,357 234,326 164,672 192,624 136,443 92,628 68,725 51,166 43,558 32,628 112,283 83,794 80,341 52,649 14,943 10,793 $ 65,398 $ 41,856 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Common stock Other paid-in capital Retained earnings Total liabilities and equity December 31 2021 S % $ 57,843 0 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021…