The following condensed information is reported by Sporting Collectibles. Required: 1. Calculate the following profitability ratios for
Question:
The following condensed information is reported by Sporting Collectibles.
Required:
1. Calculate the following profitability ratios for 2015:
a. Gross profit ratio.
b. Return on assets.
c. Profit margin.
d. Asset turnover.
e. Return on equity.
2. Determine the amount of dividends paid to shareholders in 2015.
Transcribed Image Text:
2015 2014 Income Statement Information ales revenue Cost of goods sold Net income $14,820,000 9,544,080 418,000 $9,400,000 6,900,000 348,000 Balance Sheet Information Current assets Long-term assets S 1,700,000 2,300,000 S 4,000,000 S1,600,000 2,000,000 S3,600,000 Total assets Current liabilities Long-term liabilities Common stock Retained eanings S 1,300,000 1,400,000 900,000 400,000 S 4000,000 S1,000,000 1,400,000 900,000 300,000 S3,600,000 Total liabilities and stockholders equity
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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