Question: I only need help with questions 5-18, I've completed 1-4 already. Use the comparative financial statements to calculate the ratio analysis. Market Price of common

I only need help with questions 5-18, I've completed 1-4 already.

I only need help with questions 5-18, I've completed 1-4 already. Use

the comparative financial statements to calculate the ratio analysis. Market Price of

Use the comparative financial statements to calculate the ratio analysis. Market Price of common stock was $119.70 on Dec. 31, 2020. Stargate Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2020 and 2019 Determine the following measures for 2020, rounding to two decimal places: 2020 2019 1. Working Capital Retained Earnings, January 1 $ 5,375,000 $4,545,000 2. Current Ratio Net Income 900,000 925,000 3. Quick Ratio Dividends: 14. Accounts Receivable Turnover Preferred Stock Dividends (45,000) (45,000) 5. Number of Days' Sales in Receivables Common Stock Dividends (50,000) (50,000) 6. Inventory Turnover Retained Earnings, December 31 $ 6,180,000 $ 5,375,000 7. Number of Days Sales in Inventory 8. Ratio of Fixed Assets to Long-term Liabilities 9. Ratio of Liabilities to Stock holders' Equity Stargate Inc. 10. Times interest earned Comparative Income Statement 11. Asset turnover For the Years Ended December 31, 2020 and 2019 12. Return on total assets 2020 2019 13. Return on stockholders' equity Sales $ 10,000,000 9,400,000 14. Return on common stockholders' equity Cost of Merchandise Sold 5,350,000 4,950,000 15. Earnings per share on common stock Gross Profit 4,650,000 4,450,000 16. Price-earnings ratio Selling Expenses 2,000,000 1,880,000 17. Dividends per share of common stock Administrative Expenses 1,500,000 1,410,000 18. Dividend Yield Total Operating Expenses 3,500,000 3,290,000 Income from Operations 1,150,000 1,160,000 Other Revenue & Expenses: Other Revenue 150,000 140,000 Other Expenses (interest) (170,000) (150,000) Inccome before Income Tax Expense 1,130,000 1,150,000 Income Tax Expense 230,000 225,000 Net Income $ 900,000 $ 925,000 Stargate Inc. Comparative Balance Sheet For the Years Ended December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash $ 500,000 $ 1,010,000 400,000 1,000,000 Marketable Securities Stargate Inc. Comparative Balance Sheet For the Years Ended December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash $ 500,000 $ 400,000 Marketable Securities 1,010,000 1,000,000 Accounts Receivable (net) 740,000 510,000 Inventories 1,190,000 950,000 Prepaid Expenses 250,000 229,000 Total Current Assets 3,690,000 3,089,000 Long-term Investments 2,350,000 2,300,000 Property, Plant, and Equipments (net) 3,740,000 3,366,000 Total Assets $ 9,780,000 $ 8,755,000 Liabilities Current Liabilities $ 900,000 $ 880,000 Long-term Liabilities: Mortage Note Payable, 10% 200,000 Bonds Payable, 10% 1,500,000 1,500,000 Total Long-term Liabilities 1,700,000 1,500,000 Total Liabilities 2,600,000 2,380,000 Stockholders' Equity Preferred $0.90 stock, $10 Par 500,000 500,000 Common Stock, $5 Par 500,000 500,000 Retained Earnings 6,180,000 5,375,000 Total Stockholders' Equity 7,180,000 6,375,000 Total Liabilities & Stockholders' Equity $ 9,780,000 $ 8,755,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!