The following information relates to Nova Industries. What is the price-earnings ratio for the current year? Account Current Year Prior Year Net Sales $650,000 $620,000 Cost of Goods Sold $380,000 $350,000 Gross Profit $270,000 $270,000 Income from Operations $130,000 $115,000 Interest Expense $20,000 $18,000 Net Income $90,000 $80,000 Cash $60,000 $40,000 Accounts Receivable $45,000 $30,000 Inventory Prepaid Expenses Total Current Assets $60,000 $50,000 $5,000 $3,000 $200,000 $150,000 Total Long-Term Assets $250,000 $230,000 Total Current Liabilities $90,000 $80,000 Total Long-Term Liabilities $100,000 $110,000 Common Stock, no par, 10,000 shares, $20/share $200,000 $200,000

The following information relates to Nova Industries. What is the price-earnings ratio for the current year? Account Current Year Prior Year Net Sales $650,000 $620,000 Cost of Goods Sold $380,000 $350,000 Gross Profit $270,000 $270,000 Income from Operations $130,000 $115,000 Interest Expense $20,000 $18,000 Net Income $90,000 $80,000 Cash $60,000 $40,000 Accounts Receivable $45,000 $30,000 Inventory Prepaid Expenses Total Current Assets $60,000 $50,000 $5,000 $3,000 $200,000 $150,000 Total Long-Term Assets $250,000 $230,000 Total Current Liabilities $90,000 $80,000 Total Long-Term Liabilities $100,000 $110,000 Common Stock, no par, 10,000 shares, $20/share $200,000 $200,000

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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