Markus Company's common stock sold for $4.00 per share at the end of this year. The...
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Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 900,000 $ 522,000 $ 378,000 $ 220,000 $ 12,000 $ 151,200 Ending Balance $ 45,500 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $ 145,000 $460,000 $ 648,000 Deginning Balance $ 39,200 $61,200 $82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 699,200 Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 900,000 $ 522,000 $ 378,000 $ 220,000 $ 12,000 $ 151,200 Ending Balance $ 45,500 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $ 145,000 $460,000 $ 648,000 Deginning Balance $ 39,200 $61,200 $82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 699,200
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Related Book For
Introduction to Managerial Accounting
ISBN: 978-0078025792
7th edition
Authors: Peter Brewer, Ray Garrison, Eric Noreen
Posted Date:
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