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PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price oft 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 $4,545,000 Net income Total $6,275,000 $5,470,000 Dividends: Preferred stock dividends $ 45,000 Common stock dividends 50,000 Total dividends 95,000 $6,180,000 Retained earnings, December 31 $5,375,000

PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price oft 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 $4,545,000 Net income Total $6,275,000 $5,470,000 Dividends: Preferred stock dividends $ 45,000 Common stock dividends 50,000 Total dividends 95,000 $6,180,000 Retained earnings, December 31 $5,375,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help with 5,7,12, and 18 please 

5. Number of days in sales in receivables 
7. number of days in sales in inventory

12. return on total asset

18. dividend yield

i have tried working on them myself and nothing appears to be correct. Please help me on these last 4 questions

for number these questions i need the answer in dollar amounts as its asking for the current asset-current liabilities=calculated value

# Stargel Inc. Comparative Retained Earnings Statement **For the Years Ended December 31, 20Y2 and 20Y1** ### Measures of Liquidity, Solvency, and Profitability The comparative financial statements of Stargel Inc. are provided below. The market price of Stargel common stock was $119.70 on December 31, 20Y2. --- | **Item** | **20Y2** | **20Y1** | |------------------------------------------|----------------|----------------| | Retained earnings, January 1 | $4,945,000 | $4,945,000 | | Net Income | $925,000 | $900,000 | | **Total** | $5,870,000 | $5,845,000 | | **Dividends** | | | | Preferred stock dividends | $45,000 | $45,000 | | Common stock dividends | $50,000 | $50,000 | | **Total dividends** | $95,000 | $95,000 | | Retained earnings, December 31 | $5,375,000 | $5,375,000 | --- This statement summarizes the changes in retained earnings for Stargel Inc. over the specified periods, detailing net income and dividends paid out, leading to the final retained earnings balance at the end of each year.
Transcribed Image Text:# Stargel Inc. Comparative Retained Earnings Statement **For the Years Ended December 31, 20Y2 and 20Y1** ### Measures of Liquidity, Solvency, and Profitability The comparative financial statements of Stargel Inc. are provided below. The market price of Stargel common stock was $119.70 on December 31, 20Y2. --- | **Item** | **20Y2** | **20Y1** | |------------------------------------------|----------------|----------------| | Retained earnings, January 1 | $4,945,000 | $4,945,000 | | Net Income | $925,000 | $900,000 | | **Total** | $5,870,000 | $5,845,000 | | **Dividends** | | | | Preferred stock dividends | $45,000 | $45,000 | | Common stock dividends | $50,000 | $50,000 | | **Total dividends** | $95,000 | $95,000 | | Retained earnings, December 31 | $5,375,000 | $5,375,000 | --- This statement summarizes the changes in retained earnings for Stargel Inc. over the specified periods, detailing net income and dividends paid out, leading to the final retained earnings balance at the end of each year.
## Stargel Inc. Financial Overview ### Comparative Income Statement **For the Years Ended December 31, 20Y2 and 20Y1** | Description | 20Y2 | 20Y1 | |---------------------------------|---------------|---------------| | Sales | $10,000,000 | $9,400,000 | | Cost of goods sold | $5,350,000 | $4,950,000 | | Gross profit | $4,650,000 | $4,450,000 | | Selling expenses | $2,000,000 | $1,880,000 | | Administrative expenses | $1,500,000 | $1,410,000 | | Total operating expenses | $3,500,000 | $3,290,000 | | Income from operations | $1,150,000 | $1,160,000 | | Other revenue | $180,000 | $180,000 | | Other expense (interest) | $130,000 | $130,000 | | Income before income tax | $1,200,000 | $1,210,000 | | Income tax expense | $1,130,000 | $1,150,000 | | Net income | $900,000 | $925,000 | ### Comparative Balance Sheet **December 31, 20Y2 and 20Y1** #### Assets | Asset Type | 20Y2 | 20Y1 | |---------------------------------|---------------|---------------| | Current assets: | | | | - Cash | $500,000 | $400,000 | | - Marketable securities | $1,010,000 | $1,000,000 | | - Accounts receivable (net) | $740,000 | $1,010,000 | | - 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
Transcribed Image Text:## Stargel Inc. Financial Overview ### Comparative Income Statement **For the Years Ended December 31, 20Y2 and 20Y1** | Description | 20Y2 | 20Y1 | |---------------------------------|---------------|---------------| | Sales | $10,000,000 | $9,400,000 | | Cost of goods sold | $5,350,000 | $4,950,000 | | Gross profit | $4,650,000 | $4,450,000 | | Selling expenses | $2,000,000 | $1,880,000 | | Administrative expenses | $1,500,000 | $1,410,000 | | Total operating expenses | $3,500,000 | $3,290,000 | | Income from operations | $1,150,000 | $1,160,000 | | Other revenue | $180,000 | $180,000 | | Other expense (interest) | $130,000 | $130,000 | | Income before income tax | $1,200,000 | $1,210,000 | | Income tax expense | $1,130,000 | $1,150,000 | | Net income | $900,000 | $925,000 | ### Comparative Balance Sheet **December 31, 20Y2 and 20Y1** #### Assets | Asset Type | 20Y2 | 20Y1 | |---------------------------------|---------------|---------------| | Current assets: | | | | - Cash | $500,000 | $400,000 | | - Marketable securities | $1,010,000 | $1,000,000 | | - Accounts receivable (net) | $740,000 | $1,010,000 | | - 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
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