Compute six ratios that measure Spenser Corporations ability to earn profits. The companys comparative income statement follows.
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Compute six ratios that measure Spenser Corporation’s ability to earn profits. The company’s comparative income statement follows. The data for 2021 are given as needed. Did the company’s operating performance improve or deteriorate during 2023?
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1 2 3 4 5 6 Sales revenues 7 Less: Cost of goods sold 8 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 For the Years Ended December 31, 2023 and 2022 (amounts in thousands) 2023 2022 16 Additional data: 17 Total assets 18 Common stockholders' equity Spenser Corporation Income Statement 19 Preferred dividends 20 Common shares outstanding during the year 21 $ $ B $ SS 211,400 $ 105,000 106,400 $ 53,000 53,400 $ 5,385 48,015 $ 22,647 25,368 $ 207,000 $ 101,000 $ 2,980 $ 27,985 182,910 96,000 86,910 46,000 40,910 6,459 34,451 16,160 18,291 195,000 $ 92,000 $ 2,980 $ 27,985 D 2021 180,000 61,110 0 26,000
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