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Category > Accounting Posted 01 Jun 2017 My Price 7.00

The income statement for XYZ

1.    The income statement for XYZ for the year ended December 31, 2016, appears below.

 

Sales

$900,000 

Cost of goods sold

 600,000 

Gross margin

300,000 

Expenses

 160,000*

Net income

$ 140,000 

 

*Includes $40,000 of interest expense and $30,000 of income tax expense.

 

Additional information:

1.

Common stock outstanding during 206 totaled 60,000 shares.

2.

The market price of Ray's stock was $20 at the end of 2016.

3.

Cash dividends of $20,000 were paid, $5,000 of which were paid to preferred stockholders.

 

Required: Compute the following ratios for 2016:

A.

earnings per share.

B.

price-earnings.

C.

times-interest-earned ratio.

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Answers

SuperTutor
(15)
Status NEW Posted 01 Jun 2017 07:06 AM My Price 7.00

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Attachments

file 1496300748-Solutions file.docx preview (51 words )
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