2024 Assets Current assets: Cash and marketable securities $ 106 Accounts receivable 139 Inventory 224 214...

Transcribed Image Text:

2024 Assets Current assets: Cash and marketable securities $ 106 Accounts receivable 139 Inventory 224 214 Total $ 469 $ 401 Fixed assets: Gross plant and equipment (in millions of dollars) 2023 Liabilities and Equity $ 53 Current liabilities: 134 Accrued wages and taxes Accounts payable Notes payable Total 2024 2023 $ 52 $ 55 102 92 92 82 $246 $ 229 $ 604 $ 495 Long-term debt: $ 312 $ 292 Less: Depreciation 146 Net plant and equipment 112 Stockholders' equity: $ 458 $ 383 Preferred stock (5 million shares) $ 5 $ 5 Other long-term assets Total 62 61 $ 520 $ 444 Common stock and paid-in surplus (65 million shares) Retained earnings 65 65 361 254 Total assets $ 989 $ 845 Total $ 431 $ 324 $ 989 $ 845 Net sales (all credit) Total liabilities and equity LAKE OF EGYPT MARINA, INCORPORATED Income Statement for Years Ending December 31, 2024 and 2023 (in millions of dollars) Less Cost of goods sold Gros; profits Less Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less Depreciation Earnings before interest and taxes (EBIT) Less Interest Earnings before taxes (EBT) Less: Taxes Net income 2024 2023 $ 635 $ 552 290 $ 345 42 235 $ 317 37 303 $ 269 45 280 34 32 $ 248 42 $ 224 $ 206 47 62 $ 177 $ 144 LAKE OF EGYPT MARINA, INCORPORATED Income Statement for Years Ending December 31, 2024 and 2023 (in millions of dollars) 2024 2023 Net sales (all credit) $ 635 $ 552 Less: Cost of goods sold 290 235 Gross profits $ 345 $ 317 Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation 42 37 303 280 34 32 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) $ 269 $ 248 45 42 $ 224 $ 206 Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Calculate the internal and sustainable growth rate for Lake of Egypt Marina, Incorporated. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 47 62 $177 $ 5 $ 172 $ 144 $ 5 $139 65 65 $ 107 $ 74 $ 2.646 $ 2.138 $ 1.000 $ 1.000 $ 6.554 $ 4.908 $ 15.25 $ 13.05 2024 Assets Current assets: Cash and marketable securities $ 106 Accounts receivable 139 Inventory 224 214 Total $ 469 $ 401 Fixed assets: Gross plant and equipment (in millions of dollars) 2023 Liabilities and Equity $ 53 Current liabilities: 134 Accrued wages and taxes Accounts payable Notes payable Total 2024 2023 $ 52 $ 55 102 92 92 82 $246 $ 229 $ 604 $ 495 Long-term debt: $ 312 $ 292 Less: Depreciation 146 Net plant and equipment 112 Stockholders' equity: $ 458 $ 383 Preferred stock (5 million shares) $ 5 $ 5 Other long-term assets Total 62 61 $ 520 $ 444 Common stock and paid-in surplus (65 million shares) Retained earnings 65 65 361 254 Total assets $ 989 $ 845 Total $ 431 $ 324 $ 989 $ 845 Net sales (all credit) Total liabilities and equity LAKE OF EGYPT MARINA, INCORPORATED Income Statement for Years Ending December 31, 2024 and 2023 (in millions of dollars) Less Cost of goods sold Gros; profits Less Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less Depreciation Earnings before interest and taxes (EBIT) Less Interest Earnings before taxes (EBT) Less: Taxes Net income 2024 2023 $ 635 $ 552 290 $ 345 42 235 $ 317 37 303 $ 269 45 280 34 32 $ 248 42 $ 224 $ 206 47 62 $ 177 $ 144 LAKE OF EGYPT MARINA, INCORPORATED Income Statement for Years Ending December 31, 2024 and 2023 (in millions of dollars) 2024 2023 Net sales (all credit) $ 635 $ 552 Less: Cost of goods sold 290 235 Gross profits $ 345 $ 317 Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation 42 37 303 280 34 32 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) $ 269 $ 248 45 42 $ 224 $ 206 Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Calculate the internal and sustainable growth rate for Lake of Egypt Marina, Incorporated. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 47 62 $177 $ 5 $ 172 $ 144 $ 5 $139 65 65 $ 107 $ 74 $ 2.646 $ 2.138 $ 1.000 $ 1.000 $ 6.554 $ 4.908 $ 15.25 $ 13.05

Answer rating: 100% (QA)

To calculate the internal and sustainable growth rates for Lake of Egypt Marina Incorporated we need the following information 2023 Net income 144 mil... View the full answer