Question: Financial data for Amazures, Inc. is given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for
Financial data for Amazures, Inc. is given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for the year ending December 31, 2019 and use your constructed statement to answer the following 5 questions (i.e., 11 through 15). NOTE: Not every item in the list below belongs on the balance sheet you have to use some given data to determine needed accounts for the balance sheet. However, other than what is listed and/or can be derived, there are no other accounts on Jades balance sheet - use cash as a plug figure to balance the balance sheet.
Accounts payable 2,875,400 Accruals 86,300 Accumulated depreciation 16,986,900 Additional paid in capital 9,785,900 Beginning of year inventory 12,479,200 Common stock ($1.60 par value) 1,876,000 Cost of goods sold 147,956,800 Current portion of Long-term debt 3,754,100 Gross accounts receivable 2,148,600 Gross fixed assets 52,789,300 Long-term debt (excluding current portion) 24,768,200 Purchases 146,795,100 Retained earnings 7,986,800 Returns and allowances 37,600 Short-term bank loan 547,600 Cash ???
11. What did Amazures record as Total Current Assets on December 31, 2019 balance sheet?
12. What did Amazures record as Total Current Liabilities on December 31, 2019 balance sheet?
13. What did Amazures record as Total Assets on December 31, 2019 balance sheet?
14. What was Total Shareholders Equity on Amazures December 31, 2019 balance sheet?
15. Amazures, Inc. reported net income for 2019 of $2,286,200 and the company paid dividends of $1.05 per share in 2019. Given this information (along with the data provided above), compute what Amazures Company reported as retained earnings on its December 31, 2018 balance sheet? (Assume that no additional shares of stock were issued between December 31, 2018 and December 31, 2019).
16. The year-end 2019 balance sheet for Thitch, Inc. lists common stock ($1.20 par value) at $7,620,000 capital surplus at $86,543,000 and retained earnings at $218,546,000. On the 2018 year-end balance sheet, retained earnings is listed as $214,368,000. The firms net income in 2019 was $12,500,000. No stock was issued or repurchased in 2019. What were dividends per share paid by the firm in 2019 (rounded to the nearest cent)?
17. The Lunder Company has total assets of $22,542,000, current liabilities of $2,547,000, and long-term liabilities of $7,410,000. The firm has 1,000,000 shares of common stock outstanding. Compute the firms book value of equity per share.
18. Referring back to the previous question, if Lunders net income equals $1,600,000 and Lunder has a P/E ratio of 15.0 (note that P/E ratio = stock price per share divided by earnings per share), what is the current price of the stock?
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