The following information relates to Harris Corporation. What is the price-earnings ratio for the current year? Account Current year Prior year Net sales (all credit) $520,125 $499,500 Cost of goods sold $375,960 $353,600 Gross profit $144,165 $145,900 Income from operations $95,500 $79,900 Interest expense $23,500 $19,500 Net income $57,600 $51,600 Cash $30,600 $15,900 Accounts receivable, net $33,800 $23,200 Inventory $42,000 $30,300 Prepaid expenses $2,000 $1,500 Total current assets $108,400 $70,900 Total long-term assets $62,000 $38,000 Total current liabilities $46,000 $41,600 Total long-term liabilities $20,000 $22,700 Common stock, no par, 3,000 shares, $50/share $30,000 30,000

The following information relates to Harris Corporation. What is the price-earnings ratio for the current year? Account Current year Prior year Net sales (all credit) $520,125 $499,500 Cost of goods sold $375,960 $353,600 Gross profit $144,165 $145,900 Income from operations $95,500 $79,900 Interest expense $23,500 $19,500 Net income $57,600 $51,600 Cash $30,600 $15,900 Accounts receivable, net $33,800 $23,200 Inventory $42,000 $30,300 Prepaid expenses $2,000 $1,500 Total current assets $108,400 $70,900 Total long-term assets $62,000 $38,000 Total current liabilities $46,000 $41,600 Total long-term liabilities $20,000 $22,700 Common stock, no par, 3,000 shares, $50/share $30,000 30,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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