Compute six ratios that measure Spenser Corporation's ability to earn profits. The company's comparative income statement follows.
Question:
Did the company's operating performance improve or deteriorate during 2017?
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Spenser Corporatlon Income Statement For the Years Ended December 31, 2017 and 2016 (amounts In thousands) 2016 182,910 96,000 86,910 46,000 40,910 6,459 34,451 16,160 18,291 4 2017 2015 211,400S 105,000 106,400 S 53,000 53,400S 5,385 48,015 S 22,647 25,368 S 6 Sales revenues Less: Cost of goods sold Gross profit 9 Less: Operating expenses 10 Operating Income 11 Less: Interest expense 12 Income before Income taxes 13 Less: Income tax expense 14 Net Income 15 Additional data: 17 Total assets 18 Common stockholders' equity 19 Preferred dividends 20 Common shares outstanding during the year 21 207,000 S 101,000 S 2,980 S 27,985 195,000 $ 92,000 S 2,980 S 27,985 180,000 61,110 26,000
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a Gross profit percentage 2017 106400 5033 2016 86910 4752 211400 182910 ...View the full answer
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