Question: Please show all formula and workings for easy understanding. Some recent financial statements for Earl Grey Golf Corp. follow. EARL GREY GOLF CORP. 2017 and
Please show all formula and workings for easy understanding.
Some recent financial statements for Earl Grey Golf Corp. follow.
| EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position | ||||||||||||||||
| Assets | Liabilities and Owners Equity | |||||||||||||||
| 2017 | 2018 | 2017 | 2018 | |||||||||||||
| Current assets | Current liabilities | |||||||||||||||
| Cash | $ | 24,046 | $ | 24,255 | Accounts payable | $ | 23,184 | $ | 27,420 | |||||||
| Accounts receivable | 12,448 | 15,235 | Notes payable | 12,000 | 10,800 | |||||||||||
| Inventory | 25,392 | 27,155 | Other | 11,571 | 15,553 | |||||||||||
| Total | $ | 61,886 | $ | 66,645 | Total | $ | 46,755 | $ | 53,773 | |||||||
| Long-term debt | $ | 80,000 | $ | 95,000 | ||||||||||||
| Fixed assets | Owners equity | |||||||||||||||
| Net plant and equipment | $ | 324,695 | $ | 365,734 | Common stock and paid-in surplus | $ | 40,000 | $ | 40,000 | |||||||
| Retained earnings | 219,826 | 243,606 | ||||||||||||||
| Total | $ | 259,826 | $ | 283,606 | ||||||||||||
| Total assets | $ | 386,581 | $ | 432,379 | Total liabilities and owners equity | $ | 386,581 | $ | 432,379 | |||||||
| EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income | |||||||
| Sales | $ | 366,996 | |||||
| Cost of goods sold | 253,122 | ||||||
| Depreciation | 32,220 | ||||||
| Earnings before interest and tax | $ | 81,654 | |||||
| Interest paid | 14,300 | ||||||
| Taxable income | $ | 67,354 | |||||
| Taxes (35%) | 23,574 | ||||||
| Net income | $ | 43,780 | |||||
| Dividends | $ | 20,000 | |||||
| Additions to retained earnings | 23,780 | ||||||
The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Do not include the percent sign (%). Round the final answer to 2 decimal places.)
Total asset turnover is times. (Round the final answer to 3 decimal places.)
Equity multiplier is . (Round the final answer to 2 decimal places.)
Using the Du Pont Identity, the company's ROE is percent. (Do not include the percent sign (%). Round the final answer to 2 decimal places.)
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