|
Posts: 128
|
9 months ago
Symons Corporation has provided the following financial data: | Balance Sheet | | December 31, Year 2 and Year 1 | | Year 2 | Year 1 |
|---|
| Assets | | |
|---|
| Current assets: | | |
|---|
| Cash | $ 225,000 | $ 160,000 |
|---|
| Accounts receivable, net | 191,000 | 180,000 |
|---|
| Inventory | 96,000 | 110,000 |
|---|
| Prepaid expenses | 91,000 | 80,000 |
|---|
| Total current assets | 603,000 | 530,000 |
|---|
| Plant and equipment, net | 810,000 | 840,000 |
|---|
| Total assets | $ 1,413,000 | $ 1,370,000 |
|---|
| Liabilities and Stockholders' Equity | | |
|---|
| Current liabilities: | | |
|---|
| Accounts payable | $ 226,000 | $ 190,000 |
|---|
| Accrued liabilities | 66,000 | 70,000 |
|---|
| Notes payable, short term | 54,000 | 50,000 |
|---|
| Total current liabilities | 346,000 | 310,000 |
|---|
| Bonds payable | 170,000 | 170,000 |
|---|
| Total liabilities | 516,000 | 480,000 |
|---|
| Stockholders’ equity: | | |
|---|
| Common stock, $5 par value | 250,000 | 250,000 |
|---|
| Additional paid-in capital | 70,000 | 70,000 |
|---|
| Retained earnings | 577,000 | 570,000 |
|---|
| Total stockholders’ equity | 897,000 | 890,000 |
|---|
| Total liabilities & stockholders’ equity | $ 1,413,000 | $ 1,370,000 |
|---|
| Income Statement | | For the Year Ended December 31, Year 2 | | Sales (all on account) | $ 1,260,000 |
|---|
| Cost of goods sold | 760,000 |
|---|
| Gross margin | 500,000 |
|---|
| Operating expenses | 473,429 |
|---|
| Net operating income | 26,571 |
|---|
| Interest expense | 13,000 |
|---|
| Net income before taxes | 13,571 |
|---|
| Income taxes (30%) | 4,071 |
|---|
| Net income | $ 9,500 |
|---|
Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. The company’s dividend yield ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.) ▸ 1.0% ▸ 18.4% ▸ 26.3% ▸ 2.5%
|
|
Read 58 times
1 Reply
|
|
Quick Reply
