Refer to Matthias Medical's financial statements, presented in Exercise 12-8. In Exercise 12-8 Required Calculate the following
Question:
Refer to Matthias Medical's financial statements, presented in Exercise 12-8.
In Exercise 12-8
Required
Calculate the following profitability ratios for 2016.
a. Gross margin percentage
b. Return on assets
c. Return on common stockholders' equity
Transcribed Image Text:
Matthias Medical Comparative Balance Sheet As of December 31 2016 2015 Current assets 382,600 417,400 776,400 1,065,370 Accounts receivable, net Inventory Other current assets 381,300 2,546,270 8,678,000 $11,224,270 247,000 2,121,800 8,440,100 $10,561,900 Total current assets Property, plant,&equipment, net Liabilities and Stockholders Equity Current liabilities 3,162,800 2,000 3,892,600 3,702,600 6,865,400 Total liabilities 6,738,600 Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings 104,600 4,195,370 4,358,870 Total liabilities and stockholders' equity$11,224,270 103,800 3,660,600 3,823,300 $10,561,900 Total stockholders' equity Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2016 $10,177,200 5,611,600 4,565,600 2,840,200 1,725,400 2015 Sales revenue (all on account) Cost of goods sold $9,613,900 5,298,700 Operating expenses Net operating income nterest expense Net income before taxes Income taxes (30%) Net income 2,634,100 1,681,100 1,425,100 427,530 S 997,570 1,372,500 411,750 $ 960,750 Dividends paid Preferred dividends Common dividends Total dividends paid 433,350 462,800 Net income retained Retained earnings, beginning of year Retained earnings, end of year 413,000 442,450 518,300 3,142,300 $3,660,600 3,660,600 S4,195,370
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
a Gross margin 4565600 ...View the full answer
Answered By
Shubhradeep Maity
I am an experienced and talented freelance writer passionate about creating high-quality content. I have over five years of experience working in the field and have collaborated with several renowned companies and clients in the SaaS industry.
At Herman LLC, an online collective of writers, I generated 1,000+ views on my content and created journal content for 100+ clients on finance topics. My efforts led to a 60% increase in customer engagement for finance clients through revamping website pages and email interaction.
Previously, at Gerhold, a data management platform using blockchain, I wrote and published over 50 articles on topics such as Business Finance, Scalability, and Financial Security. I managed four writing projects concurrently and increased the average salary per page from $4 to $7 in three months.
In my previous role at Bernier, I created content for 40+ clients within the finance industry, increasing sales by up to 40%.
I am an accomplished writer with a track record of delivering high-quality content on time and within budget. I am dedicated to helping my clients achieve their goals and providing exceptional results.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Refer to Matthias Medical's financial statements, presented in Exercise 12-8. Required Calculate the following leverage ratios for 2013. a. Debt ratio b. Debt-to-equity ratio c. Times interest...
-
Refer to Matthias Medical's financial statements, presented in Exercise 12-8. Required Calculate the following profitability ratios for 2013. a. Gross margin percentage b. Return on assets c. Return...
-
Refer to Matthias Medical's financial statements, presented in Exercise 12-8. Required Calculate the following market measure ratios for 2013. a. Earnings per share (average of 418,000 shares...
-
Use a calculator to evaluate an ordinary annuity formula \[A=m\left[\frac{\left(1+\frac{r}{n}ight)^{n t}-1}{\frac{r}{n}}ight]\] for \(m, r\), and \(t\) (respectively) given in Problems 7-22. Assume...
-
Divide a polynomial (x) = x4 7.5x3 + 14.5x2 + 3x 20 by the monomial factor x 2. Is x = 2 a root?
-
1. In the case, both airlines upgraded to the same application but approached the upgrade process differently. What were those differences, and how much impact did they have on the outcome of the...
-
Your product is clearly not as good as the competition. The customer has been loyal to your company for years, but you will not come out with a replacement of your existing equipment for at least a...
-
Frobisher Inc. (Frobisher) uses the lower of cost and NRV rule to value its inventory. Frobishers inventory on February 28, 2017 had a cost of $1,125,000 and a NRV of $1,035,000. Required: a. By how...
-
Taxpayer and spouse, both under 65, file a joint return. They provided more than 50% of the support for two unmarried children, ages 15 and 16. Both children live with the taxpayer. One child earned...
-
Simply Steak recently expanded its menu at their premier Miami location by offering the new "Steak Valetta". The new addition requires a special spice rub made by mixing rosemary, salt, sage, lemon,...
-
The current asset portion of Darden Restaurants, Inc.'s balance sheet is as follows (in $millions). Required Prepare a horizontal analysis of Darden Restaurants' current assets, rounding your answers...
-
Refer to Matthias Medical's financial statements, presented in Exercise 12-8. In Exercise 12-8 Required Calculate the following market measure ratios for 2016. a. Earnings per share (average of...
-
Find the least common denominator for the group of denominators. t 2 + t - 6, t 2 + 3t, t 2
-
Your Task. Decide whether to respond to the following online posts.30 If you believe you should respond, compose a concise Facebook reply following the guidelines in this chapter. Your instructor...
-
The modern workplace is a potential digital minefield. The imprudent use of practically any online toolwhether e-mail, real-time messaging, texting, tweeting, blogging, or posting to Instagramcan...
-
Who wouldnt want to hide a messy room during a Zoom session? Millions of people were using video chat during the COVID-19 pandemic as they were working and studying from home. Some discovered they...
-
I have received your message of May 6 asking whether or not our company was able to manufacture custom metric fasteners for you. You inquired about whether we could provide a custom solution to your...
-
Why is it debatable whether business communicators should apologize?
-
In general, in the alkane series of hydrocarbons, a high molecular mass implies a (an) a. low boiling point b. high boiling point c. low freezing point d. artificial origin
-
Trade credit from suppliers is a very costly source of funds when discounts are lost. Explain why many firms rely on this source of funds to finance their temporary working capital.
-
Using Exhibit 12-9 as a guide, compare C&C Sports performance to the industry averages. What particular observations and recommendations do you have for George Douglas, president of C&CSports? 2011...
-
Pippin Piping Co. manufactures decorative fabric trims. The company's financial statements follow. Required a. Prepare a horizontal analysis for 2013. What significant changes do you see? b. Prepare...
-
Haver Industries is a leading consumer products company. The company's adapted comparative balance sheets and income statements (in $ millions) follow. Required a. In his letters to shareholders in...
-
please use excel to solve this and format it the same way! thank you Paste F17 A > B Arial BIU fx C D 10 A A A E F G ||| H I J K 6 A 20-year, 6% quarterly coupon bond with a par value of $10,000 may...
-
Should a firm's EBT be based upon the actual or estimated return on plan assets.
-
You took out a loan woth an effective annual interest rate of 1 6 percent. What is the equivalent quarterly ( 3 month ) interest rate on this loan.
Study smarter with the SolutionInn App