tudent Mall word Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Excel...

Transcribed Image Text:

tudent Mall word Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Excel PowerPoint Markus Company's common stock sold for $3.50 per share at the end of this year. The company paid preferred stock dividends totaling $4,400 and a common stock dividend of $0.75 per share this year. It also provided the following data excerpts from this year's financial statements: Preferred stock Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Beginning Balance: Balance $ 35,000 $ 34,000 $70,000 $ 55,000 $ 60,700 $70,000 $ 165,700 $159,000 $557,000 $ $ 55,500 $ 67,500 $152,000 $136,800 $ 43,000 $ 43,000 $90,000 $ 90,000 $405,000 $ $557,000 $ 586,800 450,000 Saved 586,800 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year Acid-test ratio $ $ $ 825,000 478,500 346,500 $194,250 $ 10,500 $116,900 Required: What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.) tudent Mall word Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Excel PowerPoint Markus Company's common stock sold for $3.50 per share at the end of this year. The company paid preferred stock dividends totaling $4,400 and a common stock dividend of $0.75 per share this year. It also provided the following data excerpts from this year's financial statements: Preferred stock Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Beginning Balance: Balance $ 35,000 $ 34,000 $70,000 $ 55,000 $ 60,700 $70,000 $ 165,700 $159,000 $557,000 $ $ 55,500 $ 67,500 $152,000 $136,800 $ 43,000 $ 43,000 $90,000 $ 90,000 $405,000 $ $557,000 $ 586,800 450,000 Saved 586,800 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year Acid-test ratio $ $ $ 825,000 478,500 346,500 $194,250 $ 10,500 $116,900 Required: What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.)

Answer rating: 100% (QA)

Calculate earnings per share in the manner given below Net income available for distribution Number ... View the full answer