Problem 3-7 Profitability Ratios (LG3-4) Maggie's Skunk Removal Corp.'s 2021 income Statement listed net sales of $13.3 million, gross profit of $8.60 million, EBIT of $6.4 million, net income available to common stockholders of $4.0 million, and common stock dividends of $2.0 million. The 2021 year-end balance sheet listed total assets of $53.3 million and common stockholders' equity of $21.8 million with 2.0 million shares outstanding. Calculate the gross profit margin. (Round your answer to 2 decimal places.) Gross profit margin 64.66% Calculate the operating profit margin. (Round your answer to 2 decimal places.) Operating profit margin 48 12 %

Problem 3-7 Profitability Ratios (LG3-4) Maggie's Skunk Removal Corp.'s 2021 income Statement listed net sales of $13.3 million, gross profit of $8.60 million, EBIT of $6.4 million, net income available to common stockholders of $4.0 million, and common stock dividends of $2.0 million. The 2021 year-end balance sheet listed total assets of $53.3 million and common stockholders' equity of $21.8 million with 2.0 million shares outstanding. Calculate the gross profit margin. (Round your answer to 2 decimal places.) Gross profit margin 64.66% Calculate the operating profit margin. (Round your answer to 2 decimal places.) Operating profit margin 48 12 %

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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Consider the following partial income statements and balance sheets for Lillard Corp. For the year ended December 31, Net income Less income attributable to noncontrolling 5,700 interests Net income attributable to Lillard Corp. 100,400 107,300 Lillard Corp. shareholders' equity Noncontrolling interests Total equity What is Lillard's return on equity for 2024? 11.7% O 11.5% 12.3% 11.9% 2024 2023 108,000 113,000 11.1% 7,600 Dec. 31, 2024 Dec. 31, 2023 861,000 888,000 32,400 30,600 893,400 918,600