Computation of net income: Net sales 680,400 Less: cost of goods sold (327,600) Gross profit 352,800 Less: administrative expense (126,000) Less: selling expense (100,800) Operational income 126,000 Discontinued operations (loss before income tax) (50,400) Income before tax 75,600 Less: income tax (30%) (22,680) Net income 52,920
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i need Part B solution
Part A here solution
Computation of net income:
Net sales |
680,400 |
Less: cost of goods sold |
(327,600) |
Gross profit |
352,800 |
Less: administrative expense |
(126,000) |
Less: selling expense |
(100,800) |
Operational income |
126,000 |
Discontinued operations (loss before income tax) |
(50,400) |
Income before tax |
75,600 |
Less: income tax (30%) |
(22,680) |
Net income |
52,920 |
|
|
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- Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings (a) Dollars 1872000 1100736 771264 263952 9360 Your answer is correct. 507312 i 54288 497952 Duke Company 2020 i $1,872,000 1,100,736 263,952 9,360 54,288 443664 326,000 519,600 66,000 Duke Company 107,800 498.000 173,800 2019 $314,500 497,900 75.800 91,600 Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 decimal place, e.g. 12.1%) 498.000 147,000 Lord Company 2020 $559,000 297,388 79,378 4,472 Percent 6.149 141,000 83.500 $78,600 125,100 29,800 36,600 30.400 Condensed Income Statement For the Year Ended December 31, 2020 122.500 122,500 35,000 100 %% 27.1 58.8 i% 41.2 % 14.1 i% % % 26.6 % 2.9 i % 2019 23.7 % $ 25,600 $ 25,800 Dollars 559000 297388 Lord Company 261612 79378 i 182234 4472 177762 6149 i 171613 Percent…From the following particulars pertaining to Assets and Liabilities of a company calculate and interpret: a. Current Ratio; b. Liquidity Ratio; c. Proprietary Ratio; d. Debt-Equity Ratio; e.Capital Gearing Ratio. Balance Sheet as on 31st December 2020 Liabilities Amount (Rs) Assets Amount (Rs) 5,000 Equity Shares of Rs 10 each 5,00,000.00 Land & Building 5,00,000.00 8%, 2000 Preference Shares of Rs 100 each 2,00,000.00 Plant & Machinery 6,00,000.00 9 % Debentures of Rs 100 each 4,00,000.00 Sundry Debtors 2,00,000.00 Reserves & Surplus 3,00,000.00 Stock 2,40,000.00 Sundry Creditors 1,50,000.00 Cash in hand 55,000.00 Bank Overdraft 50,000.00 Prepaid Expenses 5,000.00 TOTAL 16,00,000.00 TOTAL 16,00,000.00 don't give hand written answersA) calculate the earnings per share (average of 425,000 shares outstanding for the year) for 2020. 1. Earnings per shares- B) calculate the price/earnings ratio (market price of $48 at year-end) 1. Price/ earnings ratio- C)calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. 1.Dividend payout ratio-
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