Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. markus companys common stock sold for $4.75 per sh

Markus Companys common stock sold for $4.75 per share at the end of this year....

70.2K

Verified Solution

Question

Accounting

Markus Companys common stock sold for $4.75 per share at the end of this year. The company paid a common stock dividend of $0.57 per share this year. It also provided the following data excerpts from this years financial statements:

Ending Balance Beginning Balance
Cash $ 44,000 $ 43,200
Accounts receivable $ 92,000 $ 66,200
Inventory $ 73,300 $ 92,000
Current assets $ 209,300 $ 201,400
Total assets $ 750,000 $ 809,000
Current liabilities $ 84,000 $ 87,000
Total liabilities $ 210,000 $ 189,000
Common stock, $1 par value $ 158,000 $ 158,000
Total stockholders equity $ 540,000 $ 620,000
Total liabilities and stockholders equity $ 750,000 $ 809,000

This Year
Sales (all on account) $ 1,080,000
Cost of goods sold $ 626,400
Gross margin $ 453,600
Net operating income $ 276,500
Interest expense $ 14,000
Net income $ 183,750

Foundational 14-2 (Algo)

2. What is the price-earnings ratio?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students