subject
Business, 24.01.2020 21:31 tiarafaimealelei

Refer to the following financial statements for crosby corporation:

crosby corporation
income statement
for the year ended december 31, 20x2
sales $ 3,880,000
cost of goods sold 2,260,000

gross profit $ 1,620,000
selling and administrative expense 684,000
depreciation expense 319,000

operating income $ 617,000
interest expense 88,700

earnings before taxes $ 528,300
taxes 180,000

earnings after taxes $ 348,300
preferred stock dividends 10,000

earnings available to common stockholders $ 338,300
shares outstanding 150,000
earnings per share $ 2.26

statement of retained earnings
for the year ended december 31, 20x2
retained earnings, balance, january 1, 20x2 $ 564,500
add: earnings available to common stockholders, 20x2 338,300
deduct: cash dividends declared and paid in 20x2 191,000
retained earnings, balance, december 31, 20x2 $ 711,800

comparative balance sheets
for 20x1 and 20x2

year-end
20x1 year-end
20x2
assets
current assets:
cash $ 146,000 $ 277,100
accounts receivable (net) 518,000 549,000
inventory 650,000 721,000
prepaid expenses 62,100 30,100

total current assets $ 1,376,100 $ 1,577,200
investments (long-term securities) 92,600 87,600
gross plant and equipment $ 2,250,000 $ 2,760,000
less: accumulated depreciation 1,380,000 1,699,000

net plant and equipment 870,000 1,061,000

total assets $ 2,338,700 $ 2,725,800

liabilities and stockholders’ equity
current liabilities:
accounts payable $ 348,000 $ 588,000
notes payable 576,000 576,000
accrued expenses 73,200 56,000

total current liabilities $ 997,200 $ 1,220,000
long-term liabilities:
bonds payable, 20x2 187,000 204,000

total liabilities $ 1,184,200 $ 1,424,000
stockholders’ equity:
preferred stock, $100 par value $ 90,000 $ 90,000
common stock, $1 par value 150,000 150,000
capital paid in excess of par 350,000 350,000
retained earnings 564,500 711,800

total stockholders’ equity $ 1,154,500 $ 1,301,800

total liabilities and stockholders’ equity $ 2,338,700 $ 2,725,800

a. prepare a statement of cash flows for the crosby corporation: (amounts to be deducted should be indicated with parentheses or a minus sign.)

b. compute the book value per common share for both 20x1 and 20x2 for the crosby corporation. (round your answers to 2 decimals places.)

c. if the market value of a share of common stock is 3.4 times book value for 20x2, what is the firm’s p/e ratio for 20x2? (do not round intermediate calculations. round your final answer to 2 decimal places.)

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 19:40, ashley4329
Anita has been named ceo of a popular sports apparel company. as ceo, she is tasked with setting the firm's corporate strategy. which of the following decisions is anita most likely to makea) whether to pursue a differentiation or cost leadership strategy b) which customer segments to target c) how to achieve the highest levels of customer satisfaction d) what range of products the firm should offer
Answers: 2
image
Business, 22.06.2019 21:30, marlenerojas201
Which of the following is one of the five fundamental questions? which products will be in scarce supply and which in excess supply? who should appoint the head of the central bank? how much should society save? correct what goods and services will be produced?
Answers: 1
image
Business, 23.06.2019 06:00, lordcaos066
Me with this asap. i will give 100 points and brainliest. part one of three (total of 100 points) how do gross national product (gnp) and gross domestic product (gdp) differ? while gnp includes investments as well as production of goods and services, gdp only includes production of goods and services. while gnp includes production by all people and businesses of a country, gdp only includes production within a country’s borders. while gnp includes production of all goods and services, gdp only includes production of final goods and services. while gnp includes imports and exports of goods and services, gdp only includes the net exports of goods and services. read the scenario. a united states company produces widgets in brazil. which is true about the calculation of widget production? the dollar value of the widgets would not be included in either a gnp or a gdp calculation. the dollar value of the widgets would be included in a gnp calculation. the dollar value of the widgets would be included in both a gnp and a gdp calculation. the dollar value of the widgets would be included in a gdp calculation. read the passage. this is the most widely used measure of inflation and is sometimes viewed as an indicator of the effectiveness of government economic policy. it provides information about price changes in the nation's economy to government, business, labor, and private citizens, and it is used by them to guide economic decisions. what is being described? consumer price index export price index producer price index import price index what is the primary tool used to measure inflation? consumer price index gross domestic product durable goods shipments gross national product how does a rise in life expectancy impact population growth? it slows population growth. it reverses population growth. it does not impact population growth. it increases population growth. why does nominal gross domestic product (gdp) sometimes seem larger than real gdp? real gdp counts only final products, whereas nominal gdp does not. real gdp counts imports, whereas nominal gdp does not. real gdp includes inflation in its calculation, whereas nominal gdp does not. real gdp uses an accurate calculation, whereas nominal gdp does not. why does nominal gross domestic product (gdp) sometimes seem larger than real gdp? real gdp counts only final products, whereas nominal gdp does not. real gdp counts imports, whereas nominal gdp does not. real gdp includes inflation in its calculation, whereas nominal gdp does not. real gdp uses an accurate calculation, whereas nominal gdp does not. what impact can government policies have on the business cycle? policies that lower interest rates may cause an economic contraction. policies that decrease spending may cause an economic expansion. policies that raise interest rates may cause an economic contraction. policies that lower taxes may cause an economic contraction. what is true regarding seasonal unemployment? it is much harder to predict than other types of unemployment. it is likely to last longer than other types of unemployment. it is not as troubling to the government as other types of unemployment. it has negative costs similar to those of other types of unemployment. read the sentence. the cost of lumber has increased 145 percent since last quarter. what is the most likely outcome in the furniture market? the market will see a rapid rise in inflation because inelastic products respond quickly to market forces. the market will see cost-push inflation because the increased cost of inputs force prices higher. the market will see demand-pull inflation because consumers need more of the product. the market will see no inflation because there has not been a change in personal income.
Answers: 1
image
Business, 23.06.2019 07:00, rosehayden21
Nthis economy, community members typically use simple tools to plant and harvest crops. food supplies are supplemented by hunting animals and gathering plant materials. members trade with each other to obtain needed goods, as few people hold currency. little economic growth occurs. what type of economy is being described?
Answers: 3
You know the right answer?
Refer to the following financial statements for crosby corporation:

crosby corporation...

Questions in other subjects:

Konu
Mathematics, 13.07.2020 19:01