Cullumber Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income...
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Cullumber Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Assets Cullumber Medical Comparative Balance Sheet As of December 31 Current assets Cash Accounts receivable.net Inventory Other current assets Total current assets Property, plant, & equipment, net, Total assets 2020 $397,000 1,089,000 $417,450 776,400 681,050 247.100 2,600,400 2,122,000 8.616.295 8,439,830 $11.216,695 $10,561,830 733,000 2019 381,400 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity 4.358,095 Total liabilities and stockholders' equity $11,216.695 $3,156,000 $2,846,050 3,702,600 6,858,600 58,950 104,650 4,194,495 3.892.600 6,738,650 58,950 103,850 3,660,380 3823.180 $10,561,830 Cullumber Medical Comparative Income Statement and Statement of Retained Earnings For the Year Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 2020 $10,177,300 2019 $9.613,950 5,612,300 5,298,700 4315.250 2,634,200 1,681,050 308,650 1,372,400 411,720 $960.680 4,565,000 2,840,250 1,724,750 300,300 1424,450 427,335 $997,115 29.500 433,450 462,950 534.115 3.660,380 $4,194,495 29.500 413,100 442600 518.080 3142.300 $3.660,380 Calculate the following profitability ratios for 2020 Gross profit margin Return on asset Return on common stockholder equity Cullumber Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Assets Cullumber Medical Comparative Balance Sheet As of December 31 Current assets Cash Accounts receivable.net Inventory Other current assets Total current assets Property, plant, & equipment, net, Total assets 2020 $397,000 1,089,000 $417,450 776,400 681,050 247.100 2,600,400 2,122,000 8.616.295 8,439,830 $11.216,695 $10,561,830 733,000 2019 381,400 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity 4.358,095 Total liabilities and stockholders' equity $11,216.695 $3,156,000 $2,846,050 3,702,600 6,858,600 58,950 104,650 4,194,495 3.892.600 6,738,650 58,950 103,850 3,660,380 3823.180 $10,561,830 Cullumber Medical Comparative Income Statement and Statement of Retained Earnings For the Year Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 2020 $10,177,300 2019 $9.613,950 5,612,300 5,298,700 4315.250 2,634,200 1,681,050 308,650 1,372,400 411,720 $960.680 4,565,000 2,840,250 1,724,750 300,300 1424,450 427,335 $997,115 29.500 433,450 462,950 534.115 3.660,380 $4,194,495 29.500 413,100 442600 518.080 3142.300 $3.660,380 Calculate the following profitability ratios for 2020 Gross profit margin Return on asset Return on common stockholder equity
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