The income statement for Cullumber, Inc. is as follows:CULLUMBER, INC.Income StatementFor the Year Ended December 31, 2021Sales revenue$442,000Cost of goods sold264,000Gross profit178,000Expenses (including $19,000 interest and $36,700 income taxes)114.000Net income$64,000Additional information:12Common stock outstanding January 1, 2021 was 44,000 shares and 54,000 shares were outstanding at December 31, 2021.The market price of Cullumber, Inc., stock was $16 in 2021.3.Cash dividends of $17,130 were paid, $1,770 of which were to preferred stockholders.Compute the following measures for 2021: (Round Earnings per share to 2 decimal places, eg. 52.75. Round other answers to 1 decimalplace, e.g. 52.7.)(a)Earnings per share$(b)Price-earnings ratio(c)Payout ratio(d)Times interest earned1.3112.2times26.7%times

Step 1: (a) Given that, Net income = $64,000 Dividend on preferred stock = $1,770 Weighted average…

Answered: The income statement for Cullumber,…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC.Income StatementFor the Year Ended December 31, 2020 Sales revenue $402,900 Cost of goods sold 256,700 Gross profit 146,200 Expenses (including $10,200 interest and $29,600 income taxes) 89,200 Net income $ 57,000 Additional information: 1. Common stock outstanding January 1, 2020, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2020. 2. The market price of Teal Mountain stock was $15 in 2020. 3. Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders. Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter a dollar amount (b) Price-earnings ratio enter Price-earnings ratio in times times (c) Payout ratio enter percentages % (d) Times interest earned enter Times interest…
Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC.Income StatementFor the Year Ended December 31, 2020 Sales revenue $402,900 Cost of goods sold 256,700 Gross profit 146,200 Expenses (including $10,200 interest and $29,600 income taxes) 89,200 Net income $ 57,000 Additional information: 1. Common stock outstanding January 1, 2020, was 30,000 shares, and 39,000 shares were outstanding at December 31, 2020. 2. The market price of Teal Mountain stock was $15 in 2020. 3. Cash dividends of $24,700 were paid, $6,500 of which were to preferred stockholders. FInd the following: A.) Payout Ratio B.) Times interest earned
Here is the income statement for Tamarisk, Inc. TAMARISK, INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $419,200 251,500 Cost of goods sold Gross profit 167,700 Expenses (including $14,200 interest and $28,000 income taxes) 73,500 $94,200 Net income Additional information: Common stock outstanding January 1, 2020, was 24,400 shares, and 39,100 shares were outstanding at December 31, 2020. 1. The market price of Tamarisk stock was $12 in 2020. 2. Cash dividends of $22,800 were paid, $5,300 of which were to preferred stockholders. 3. Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.5 1%) $ (a) Earnings per share (b) Price-earnings ratio times (c) Payout ratio (d) Times interest earned times
Here is the income statement for Windsor, Inc. WINDSOR, INC.Income StatementFor the Year Ended December 31, 2020 Sales revenue $420,100 Cost of goods sold 235,100 Gross profit 185,000 Expenses (including $16,100 interest and $21,900 income taxes) 72,500 Net income $ 112,500 Additional information: 1. Common stock outstanding January 1, 2020, was 22,400 shares, and 36,600 shares were outstanding at December 31, 2020. 2. The market price of Windsor stock was $12 in 2020. 3. Cash dividends of $22,600 were paid, $4,600 of which were to preferred stockholders. Compute the following measures for 2020. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter a dollar amount (b) Price-earnings ratio enter Price-earnings ratio in times times (c) Payout ratio enter percentages % (d) Times interest earned enter Times interest earned times
SKYSONG, INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $404,100 Cost of goods sold 234,000 Gross profit 170,100 Expenses (including $16,700 interest and $26,400 income taxes) 83,500 Net income $ 86,600 Additional information: 1. Common stock outstanding January 1, 2022, was 24,700 shares, and 37,100 shares were outstanding at December 31, 2022. 2. The market price of Skysong stock was $14 in 2022. 3. Cash dividends of $22,900 were paid, $4,900 of which were to preferred stockholders. Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter earnings per share in dollars (b) Price-earnings ratio enter price-earnings ratio in times times (c) Payout ratio enter payout ratio in percentages % (d) Times interest earned enter times interest earned times
What is the payout ration for the following? SKYSONG, INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $404,100 Cost of goods sold 234,000 Gross profit 170,100 Expenses (including $16,700 interest and $26,400 income taxes) 83,500 Net income $ 86,600 Additional information: 1. Common stock outstanding January 1, 2022, was 24,700 shares, and 37,100 shares were outstanding at December 31, 2022. 2. The market price of Skysong stock was $14 in 2022. 3. Cash dividends of $22,900 were paid, $4,900 of which were to preferred stockholders. Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter earnings per share in dollars (b) Price-earnings ratio enter price-earnings ratio in times times (c) Payout ratio enter payout ratio in percentages % (d) Times interest earned enter times interest…
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
What is the payout ratio for the following? SKYSONG, INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $404,100 Cost of goods sold 234,000 Gross profit 170,100 Expenses (including $16,700 interest and $26,400 income taxes) 83,500 Net income $ 86,600 Additional information: 1. Common stock outstanding January 1, 2022, was 24,700 shares, and 37,100 shares were outstanding at December 31, 2022. 2. The market price of Skysong stock was $14 in 2022. 3. Cash dividends of $22,900 were paid, $4,900 of which were to preferred stockholders. Compute the following measures for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 2.51%) (a) Earnings per share $enter earnings per share in dollars (b) Price-earnings ratio enter price-earnings ratio in times times (c) Payout ratio enter payout ratio in percentages % (d) Times interest earned enter times interest earned…
Additional information: Common stock outstanding January 1, 2022, was 34,250 shares, and 38,250 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) The market price of Bonita stock was $30 on December 31, 2022 Cash dividends of $21,840 were declared and paid. 1. 2 3. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, eg. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%) (a) (b) (c) (d) Earnings per share $ Price-earnings ratio Payout ratio Times interest earned times. % times
Account balances on December 31, 2020: Inventory $ 72,000 Net sales 450,000 Current assets 150,000 Cost of goods sold 290,000 Total liabilities 180,000 Net profit 35,400 Total assets 385,000 Current liabilities 75,000 Other information Number of common shares outstanding 25,000 Inventory at January 1, 2020 48,000 what's the amount of return on equity
The 2021 income statement of Adrian Express reports sales of $15,642,000, cost of goods sold of $9,351,500, and net income of $1,590,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 Common stock Retained earnings Total liabilities and stockholders' equity Average collection period Average days in inventory Current ratio Debt to equity ratio Industry averages for the following four risk ratios are as follows: Risk Ratios Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days 2 to 1 50% days days 2021 Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.) to 1 % 2020 $ 590,000 1,380,000 $750,000 990,000…

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