Additional data: Market value of stock at 12/31/21 is $80 per share. Ivanhoe sold 42,000 shares of common stock at par on July 1, 2021. Ivanhoe Company Condensed Income Statement For the Year Ended December 31, 2021 Sales revenue $3,658,000 Cost of goods sold 2,412,000 Gross profit 1,246,000 Administrative and selling expenses 748,000 Net income $498,000
Additional data: Market value of stock at 12/31/21 is $80 per share. Ivanhoe sold 42,000 shares of common stock at par on July 1, 2021. Ivanhoe Company Condensed Income Statement For the Year Ended December 31, 2021 Sales revenue $3,658,000 Cost of goods sold 2,412,000 Gross profit 1,246,000 Administrative and selling expenses 748,000 Net income $498,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The condensed financial statements of Ivanhoe Company for the years 2020-2021 are presented below:
(See Images)
Compute the following financial ratios by placing the proper amounts for numerators and denominators. (Round per unit answers to 2 decimal places, e.g. 52.75.)
(a) |
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(b) | Acid test ratio at 12/31/21 |
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(c) |
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(d) | Inventory turnover in 2021 |
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(e) | Profit margin on sales in 2021 |
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(f) | Earnings per share in 2021 |
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(g) | Return on common |
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(h) | Price earnings ratio at 12/31/21 |
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(i) | Debt to assets at 12/31/21 |
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(j) | Book value per share at 12/31/21 |
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