The following condensed information is reported by World of Stamp Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities. Long-term liabilities. Common stock Retained earnings Total liabilities and stockholders' equity Required: 1. Calculate the following profitability ratios for 2024: 2. Determine the amount of dividends paid to shareholders in 2024. Required 1 a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 % % % times % $7,612,000 5,031,532 321,780 Complete this question by entering your answers in the tabs below. < Required 1 $1,130,000 1,570,000 $1,530,000 $1,430,000 2,130,000 1,830,000 $3,660,000 $3,260,000 730,000 230,000 $3,660,000 Required 2 Jy Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.) Profitability Ratios 2023 $7,700,000 5,200,000 178,000 Required 2 > $830,000 1,570,000 730,000 130,000 $3,260,000

The following condensed information is reported by World of Stamp Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities. Long-term liabilities. Common stock Retained earnings Total liabilities and stockholders' equity Required: 1. Calculate the following profitability ratios for 2024: 2. Determine the amount of dividends paid to shareholders in 2024. Required 1 a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 % % % times % $7,612,000 5,031,532 321,780 Complete this question by entering your answers in the tabs below. < Required 1 $1,130,000 1,570,000 $1,530,000 $1,430,000 2,130,000 1,830,000 $3,660,000 $3,260,000 730,000 230,000 $3,660,000 Required 2 Jy Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.) Profitability Ratios 2023 $7,700,000 5,200,000 178,000 Required 2 > $830,000 1,570,000 730,000 130,000 $3,260,000

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.8E

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