Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. BRIDGEPORT CORPORATION Balance...
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Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. BRIDGEPORT CORPORATION Balance Sheets December 31 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Additional information: 1. 2022 $32,000 52,000 2 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income $735,000 2021 $ 22,000 47,000 98,000 73,000 370,000 BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 2022 $743,000 42,000 701,000 2020 $20,000 50,000 67,000 48,000 358,000 $543,000 $72,000 53,000 303,000 $610,000 $82,000 88,000 313,000 127,000 115,000 $610,000 $543,000 428,000 273,000 182,000 $91,000 2021 $603,000 32,000 571,000 353,000 218,000 152,000 $ 66,000 The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All dividends were paid in cash. Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Additional information: 1. 2. (a) BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 Profit margin Gross profit rate Asset turnover Earnings per share $ Price-earnings ratio Payout ratio Debt to assets ratio $743,000 42,000 701,000 2022 The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All dividends were paid in cash. 2022 Compute the following ratios for 2021 and 2022. (Round profit margin, gross profit rate and price-earnings ratio to 1 decimal places, e.g. 1.8 or 1.8%. Round asset turnover and earnings per share to 2 decimal places, eg. 1.25. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 25%) 13 38.9 428,000 273,000 1.04 182,000 $91,000 % % times times 2021 % $603,000 % 32,000 571,000 353,000 218,000 152,000 $ 66,000 $ 2021 11.6 % 38.2 .99 % times times Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. BRIDGEPORT CORPORATION Balance Sheets December 31 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Additional information: 1. 2022 $32,000 52,000 2 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income $735,000 2021 $ 22,000 47,000 98,000 73,000 370,000 BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 2022 $743,000 42,000 701,000 2020 $20,000 50,000 67,000 48,000 358,000 $543,000 $72,000 53,000 303,000 $610,000 $82,000 88,000 313,000 127,000 115,000 $610,000 $543,000 428,000 273,000 182,000 $91,000 2021 $603,000 32,000 571,000 353,000 218,000 152,000 $ 66,000 The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All dividends were paid in cash. Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Additional information: 1. 2. (a) BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 Profit margin Gross profit rate Asset turnover Earnings per share $ Price-earnings ratio Payout ratio Debt to assets ratio $743,000 42,000 701,000 2022 The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All dividends were paid in cash. 2022 Compute the following ratios for 2021 and 2022. (Round profit margin, gross profit rate and price-earnings ratio to 1 decimal places, e.g. 1.8 or 1.8%. Round asset turnover and earnings per share to 2 decimal places, eg. 1.25. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 25%) 13 38.9 428,000 273,000 1.04 182,000 $91,000 % % times times 2021 % $603,000 % 32,000 571,000 353,000 218,000 152,000 $ 66,000 $ 2021 11.6 % 38.2 .99 % times times
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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