pala Income Statement cu Lanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023...

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pala Income Statement cu Lanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 - fo Net Sales Revenue Cost of Goods Sold $ 468,000 $ 422,000 235,000 217,000 X Gross Profit 233,000 205,000 133,000 131,000 Operating Expenses ca Income From Operations 100,000 74,000 10,000 13,000 Interest Expense Income Before Income Tax 90,000 61,000 22,000 23,000 or 2 Net Income Income Tax Expense $ 68,000 $ 38,000 Print Done Balance Sheet Lanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022* Assets Current Assets: Cash $ 94,000 $ 91,000 Accounts Receivables, Net 111,000 115,000 $106,000 Merchandise Inventory 150,000 161,000 208,000 13,000 8,000 Prepaid Expenses Total Current Assets 368,000 375,000 216,000 180,000 Property, Plant, and Equipment, Net $ 584,000 $ 555,000 Total Assets $602,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity 225,000 $ 241,000 118,000 93,000 343,000 334,000 - X Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio = Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX) 2024 2023 Current ratio Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) 2024 2023 Cash ratio Requirement 1c. Compute the times-interest-earned ratios for 2024 and 2023. Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-eared ratio Now, compute the times-interest-eamed ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) Times-interest-earned ratio. 2024 2023 Requirement 1d. Compute the inventory tumover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Inventory turnover ratio. Now, compute the inventory turnover ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) 2024 2023 Inventory turnover ratio: Requirement 1e. Compute the gross profit percentage for 2024 and 2023. Begin by selecting the formula to compute the gross profit percentage.. Gross profit percentage Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent. XX. Do not enter the % For examptonter Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2 % as 10.2.) 2024 2023 Gross profit% % Requirement 1f. Compute the debt to equity ratios for 2024 and 2023. Begin by selecting the formula to compute the debt to equity ratio. Debt to equity ratio 4 Now, compute the debt to equity ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) 2024 2023 Debt to equity ratio Requirement 1g. Compute the rate of return on common stockholders' equity for 2024 and 2023. Begin by selecting the formula to compute the rate of return on common stockholders' equity Rate of return on common stockholders' equity Now, compute the rate of return on common stockholders' equity for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2% as 10.2) Rate of return on common stockholders' equity% 2024 2023 % % 2023 % Requirement 1h. Compute the earnings per share of common stock for 2024 and 2023. Begin by selecting the formula to compute the eamings per share of common stock. Earnings per share Now, compute the earnings per share for 2024 and 2023. (Round your answers to the nearest cent, $X.XX) 2024 2023 Earnings per share of common stock Requirement 11. Compute the price/eamings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/eamings ratio Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, XXX.) 2024 2023 Price/earnings ratio Requirement 2. Decide (a) whether Lanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased (a) Did Lanfield's ability to pay its debts and to sell inventory improve or deteriorate during 2024? (b) Did the investment attractiveness of Lanfield's common stock appear to have increased or decreased? pala Income Statement cu Lanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 - fo Net Sales Revenue Cost of Goods Sold $ 468,000 $ 422,000 235,000 217,000 X Gross Profit 233,000 205,000 133,000 131,000 Operating Expenses ca Income From Operations 100,000 74,000 10,000 13,000 Interest Expense Income Before Income Tax 90,000 61,000 22,000 23,000 or 2 Net Income Income Tax Expense $ 68,000 $ 38,000 Print Done Balance Sheet Lanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022* Assets Current Assets: Cash $ 94,000 $ 91,000 Accounts Receivables, Net 111,000 115,000 $106,000 Merchandise Inventory 150,000 161,000 208,000 13,000 8,000 Prepaid Expenses Total Current Assets 368,000 375,000 216,000 180,000 Property, Plant, and Equipment, Net $ 584,000 $ 555,000 Total Assets $602,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity 225,000 $ 241,000 118,000 93,000 343,000 334,000 - X Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio = Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX) 2024 2023 Current ratio Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) 2024 2023 Cash ratio Requirement 1c. Compute the times-interest-earned ratios for 2024 and 2023. Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-eared ratio Now, compute the times-interest-eamed ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) Times-interest-earned ratio. 2024 2023 Requirement 1d. Compute the inventory tumover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Inventory turnover ratio. Now, compute the inventory turnover ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) 2024 2023 Inventory turnover ratio: Requirement 1e. Compute the gross profit percentage for 2024 and 2023. Begin by selecting the formula to compute the gross profit percentage.. Gross profit percentage Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent. XX. Do not enter the % For examptonter Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2 % as 10.2.) 2024 2023 Gross profit% % Requirement 1f. Compute the debt to equity ratios for 2024 and 2023. Begin by selecting the formula to compute the debt to equity ratio. Debt to equity ratio 4 Now, compute the debt to equity ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) 2024 2023 Debt to equity ratio Requirement 1g. Compute the rate of return on common stockholders' equity for 2024 and 2023. Begin by selecting the formula to compute the rate of return on common stockholders' equity Rate of return on common stockholders' equity Now, compute the rate of return on common stockholders' equity for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2% as 10.2) Rate of return on common stockholders' equity% 2024 2023 % % 2023 % Requirement 1h. Compute the earnings per share of common stock for 2024 and 2023. Begin by selecting the formula to compute the eamings per share of common stock. Earnings per share Now, compute the earnings per share for 2024 and 2023. (Round your answers to the nearest cent, $X.XX) 2024 2023 Earnings per share of common stock Requirement 11. Compute the price/eamings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/eamings ratio Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, XXX.) 2024 2023 Price/earnings ratio Requirement 2. Decide (a) whether Lanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased (a) Did Lanfield's ability to pay its debts and to sell inventory improve or deteriorate during 2024? (b) Did the investment attractiveness of Lanfield's common stock appear to have increased or decreased?