The following condensed information is reported by Beany Baby Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Required: 1. Calculate the following profitability ratios for 2024: 2. Determine the amount of dividends paid to shareholders in 2024. 2024 $10,440,000 6,827,760 360,000 2023 800,000 300,000 $3,800,000 $8,400,000 5,900,000 248,000 $1,600,000 $1,500,000 2,200,000 1,900,000 $3,800,000 $3,400,000 $1,200,000 1,500,000 $900,000 1,500,000 800,000 200,000 $3,400,000

The following condensed information is reported by Beany Baby Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Required: 1. Calculate the following profitability ratios for 2024: 2. Determine the amount of dividends paid to shareholders in 2024. 2024 $10,440,000 6,827,760 360,000 2023 800,000 300,000 $3,800,000 $8,400,000 5,900,000 248,000 $1,600,000 $1,500,000 2,200,000 1,900,000 $3,800,000 $3,400,000 $1,200,000 1,500,000 $900,000 1,500,000 800,000 200,000 $3,400,000

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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