CashAccounts receivable (net)Other current assets1.InvestmentsPlant and equipment (net)Net sales2.NOVAK CORPORATIONBalance SheetsDecember 31Current liabilitiesLong-term debtCommon stock, $10 parRetained earningsSales revenueLess: Sales returns and allowancesNet incomeAdditional information:2022$32,00052,00093,00058,000500,000$735,000148,000Cost of goods soldGross profitOperating expenses (including income taxes)323,000177,000NOVAK CORPORATIONIncome StatementsFor the Years Ended December 312021$ 22,00047,000$87,000 $82,000202298,000370,000$610,00073,000313,000127,00088,000699,400428,311271,0892021$20,0002020$743,000 $603,00043,600115,000$735,000 $610.000 $543,00050,00032,265570,735352,878217,857181,870 ▷ 151,764$89,219$66,09367,00048,000358,000$543,000$72,00053,000303,000The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively.You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2021 and 2022. (Round earnings per share and asset turnover to 2 decimal places; eg 1.83 andanswers to 1 decimal place, e.g. 1.8 or 1.8%)Profit marginGross profit rateAsset turnoverEarnings per sharePrice-earnings ratioPayout ratioDebt to assets ratio2022%%timestimes%%4$2021%timestimes%%

Name: CashAccounts receivable (net)Other current assets1.InvestmentsPlant a
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Description: CashAccounts receivable (net)Other current assets1.InvestmentsPlant and equipment (net)Net sales2.NOVAK CORPORATIONBalance SheetsDecember 31Current liabilitiesLong-term debtCommon stock, $10 parRetained earningsSales revenueLess: Sales returns and a

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Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 1. NOVAK CORPORATION Balance Sheets December 31 Current liabilities Long-term debt Common stock, $10 par Retained earnings Net sales Sales revenue Less: Sales returns and allowances Net income Additional information: 2022 $32,000 52,000 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) 2021 2022 $22,000 $20,000 47,000 98,000 370,000 $610,000 73,000 313,000 127,000 $82,000 $72,000 88,000 53,000 $743,000 43,600 181,870 699,400 428,311 271,089 $89,219 $735,000 $610.000 $543,000 2020 2021 67,000 48,000 358,000 $543,000 50,000 $603,000 32,265 570,735 352,878 217,857 151,764 $66,093 303,000 115,000 The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively. 2. You must compute dividends paid. All dividends were paid in cash.

Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) 1. NOVAK CORPORATION Balance Sheets December 31 Current liabilities Long-term debt Common stock, $10 par Retained earnings Net sales Sales revenue Less: Sales returns and allowances Net income Additional information: 2022 $32,000 52,000 93,000 58,000 500,000 $735,000 $87,000 148,000 323,000 177,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Operating expenses (including income taxes) 2021 2022 $22,000 $20,000 47,000 98,000 370,000 $610,000 73,000 313,000 127,000 $82,000 $72,000 88,000 53,000 $743,000 43,600 181,870 699,400 428,311 271,089 $89,219 $735,000 $610.000 $543,000 2020 2021 67,000 48,000 358,000 $543,000 50,000 $603,000 32,265 570,735 352,878 217,857 151,764 $66,093 303,000 115,000 The market price of Novak's common stock was $7.00, $7.74, and $8.43 for 2020, 2021, and 2022, respectively. 2. You must compute dividends paid. All dividends were paid in cash.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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