The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income
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Question:
The following income statement and balance sheets for Virtual Gaming Systems are provided.
VIRTUAL GAMING SYSTEMS
Income Statement
For the Year Ended December
Net sales $
Cost of goods sold
Gross profit
Expenses:
Operating expenses $
Depreciation expense
Loss on sale of land
Interest expense
Income tax expense
Total expenses
Net income $
VIRTUAL GAMING SYSTEMS
Balance Sheets
December
Assets
Current assets:
Cash $ $
Accounts receivable
Inventory
Prepaid rent
Longterm assets:
Investment in bonds
Land
Equipment
Less: Accumulated depreciation
Total assets $
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ $
Interest payable
Income tax payable
Longterm liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
Earnings per share for the year ended December are $ The closing stock price on December is $
Required:
Calculate the following profitability ratios for Round your answers to decimal place.
Gross Profit Ratio, Return on Assets, Profit Margin, Asset turnover, Return on Equity, Price Earnings ratio
Related Book For
Probability & Statistics For Engineers & Scientists
ISBN: 9780130415295
7th Edition
Authors: Ronald E. Walpole, Raymond H. Myers, Sharon L. Myers, Keying
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