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Condensed balance sheet and income statement data for Novak Corporation are presented here. NOVAK CORPORATION Balance SheetsGross profit Operating expenses (including income taxes) Net income 273,000 182,000 $ 91,000 218,000 152,000 $ 66,000 Additio

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Answer #1

Profit margin = Net profit / Net sales

2022 - Profit margin = 91,000/7,01,000 = ~13%

2021 - Profit margin = 66,000/5,71,000 = ~11.6%

Gross profit rate = Gross profit / Net sales

2022 - Gross Profit rate = 2,73,000/7,01,000 = 38.9%

2021 - Gross Profit rate = 2,18,000/5,71,000 = 38.2%

Asset turnover = Net sales / Average total asset

2022 - Asset turnover = 7,01,000/ ((7,35,000 + 6,10,000)/2) = 1.04 times

2021 - Asset turnover = 5,71,000/ ((6,10,000 + 5,43,000)/2) = 0.99 times

Earnings per share = Net income / outstanding shares

2022 - EPS = 91,000/ ((323,000/10)) = $2.81

2021 - EPS = 66,000/ ((313,000/10)) = $2.10

Price earnings ratio = Market value per share / EPS

2022 - P/E ratio = 8.5/2.81 = 3.02 times

2021 - P/E ratio = 7.5/2.1 = 3.57 times

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