Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here.
|
Jergan Corporation |
|||||||||
|
2020 |
2019 |
2018 |
|||||||
| Cash | $ 30,100 | $ 17,500 | $ 18,100 | ||||||
| Accounts receivable (net) | 49,000 | 45,400 | 47,100 | ||||||
| Other current assets | 89,500 | 95,400 | 64,400 | ||||||
| Investments | 54,400 | 70,300 | 45,700 | ||||||
| Plant and equipment (net) | 499,200 | 370,100 | 357,100 | ||||||
| $722,200 | $598,700 | $532,400 | |||||||
| Current liabilities | $84,400 | $80,300 | $69,100 | ||||||
| Long-term debt | 144,500 | 86,000 | 50,100 | ||||||
| Common stock, $10 par | 321,000 | 317,000 | 297,000 | ||||||
| Retained earnings | 172,300 | 115,400 | 116,200 | ||||||
| $722,200 | $598,700 | $532,400 | |||||||
|
Jergan Corporation |
||||||
|
2020 |
2019 |
|||||
| Sales revenue | $737,500 | $607,000 | ||||
| Less: Sales returns and allowances | 40,500 | 30,600 | ||||
| Net sales | 697,000 | 576,400 | ||||
| Cost of goods sold | 426,400 | 371,000 | ||||
| Gross profit | 270,600 | 205,400 | ||||
| Operating expenses (including income taxes) | 186,960 | 153,524 | ||||
| Net income | $ 83,640 | $ 51,876 | ||||
Additional information:
| 1. | The market price of Jergan’s common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively. | |
| 2. | You must compute dividends paid. All dividends were paid in cash. |
(a)
Compute the following ratios for 2019 and 2020. (Round
Asset turnover and Earnings per share to 2 decimal places, e.g.
1.65. Round payout ratio and debt to assets ratio to 0 decimal
places, e.g. 18%. Round all other answers to 1 decimal place, e.g.
6.8 or 6.8%.)
|
2019 |
2020 |
|||||||
| (1) | Profit margin | % | % | |||||
| (2) | Gross profit rate | % | % | |||||
| (3) | Asset turnover | times | times | |||||
| (4) | Earnings per share | $ | $ | |||||
| (5) | Price-earnings ratio | times | times | |||||
| (6) | Payout ratio | % | % | |||||
| (7) | Debt to assets ratio | % | % | |||||
Homework Answers
| 2019 | Working-2019 | 2020 | Working-2020 | |||
| 1 | Profit margin | 8.5% | =51876/607000 | 11.3% | =83640/737500 | |
| 2 | Gross profit rate | 33.8% | =205400/607000 | 36.7% | =270600/737500 | |
| 3 | Asset turnover | 1.07 | =607000/((598700+532400)/2) | 1.70 | =737500/((499200+370100)/2) | |
| 4 | Earnings per share | 1.64 | =51876/(317000/10) | 2.61 | =83640/(321000/10) | |
| 5 | Price-earnings ratio | 4.6 | =7.5/1.64 | 3.3 | =8.5/2.61 | |
| 6 | Payout ratio | 101% | =((116200+51786-115400)/(317000/10))/1.64 | 32% | =((115400+83640-172300)/(321000/10))/2.61 | |
| 7 | Debt to assets ratio | 28% | =(80300+86000)/598700 | 32% | =(84400+144500)/722200 |
Add Answer to:
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $ 29,200 $16,100 $ 18,100 Accounts receivable (net) 50,400 45,600 48,100 Other current assets 90,700 94,900 63,200 Investments 54,700 70,400 45,100 Plant and equipment (net) 499,800 $724,800 370,600 $597,600 358,700 $533,200 $69,600 50,500 Current liabilities $84,900 $80,800 Long-term debt 145,100 85,700 Common stock, $10 par Retained earnings 315,000 179,800 $724,800 319,000 112,100 $597,600 301,000 112,100 $533,200 Jergan...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2019 2020 2018 $29,100 $17,400 $17,800 Cash Accounts receivable (net) 50,000 44,700 47,500 Other current assets 90,100 95,700 63,500 Investments 70,600 44,000 54,500 Plant and equipment (net) 500,500 370,700 358,200 $724,200 $599,100 $531,000 Current liabilities $85,000 $80,500 $69,100 144,900 Long-term debt 84,200 49,500 Common stock, $10 par 342,000 311,000 299,000 Retained earnings 152,300 123,400 113,400 $724,200 $599,100 $531,000 Jergan Corporation Income...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Bala...
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance Sheets
December 31
2020
2019
2018
Cash
$ 29,300
$ 17,300
$ 17,000
Accounts receivable (net)
49,900
44,100
47,800
Other current assets
90,900
96,000
63,900
Investments
55,200
70,200
45,600
Plant and equipment (net)
500,700
370,600
358,000
$726,000
$598,200
$532,300
Current liabilities
$84,800
$79,100
$70,300
Long-term debt
145,700
85,900
50,800
Common stock, $10 par
348,000
320,000
312,000
Retained earnings
147,500
113,200
99,200
$726,000
$598,200
$532,300...
C Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation...
C Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $30,100 $16,100 $18,300 Accounts receivable (net) 49,800 45,500 47,900 Other current assets 89,600 95,000 63,000 Investments 55,100 70,000 46,000 Plant and equipment (net) 500,100 370,800 358,600 $724,700 $597,400 $533,800 Current liabilities $84,500 $79,400 $69,700 Long-term debt 145,700 84,300 50,700 Common stock, $10 par 319,000 381,000 306,000 Retained earnings 113,500 114,700 107,400 $724,700 $597,400 $533,800 Jergan Corporation...
Problem 18-03A a Condensed balance sheet and income statement data for Jergan Corporation are presented here....
Problem 18-03A a Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 30,000 50,500 89,100 54,900 500,200 $724,700 $85,700 144,400 381,000 113,600 $724,700 $ 16,000 44,200 94,500 71,000 370,800 $596,500 $ 18,500 47,300 64,200 45,800 357,000 $532,800 Current liabilities Long-term debt Common stock, $10 par Retained earnings $79,400 84,800 318,000 114,300 $596,500 $70,400 49,600...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 30,000 $ 20,000 $ 18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 55,000 70,000 45,000 Plant and equipment (net) 500,000 370,000 358,000 $725,000 $600,000 $533,000 Current liabilities $ 85,000 $ 80,000 $ 70,000 Long-term debt 145,000 85,000 50,000 Common stock, $10 par 320,000 310,000 300,000 Retained earnings 175,000 125,000 113,000...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 30,000 $ 20,000 $ 18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 55,000 70,000 45,000 Plant and equipment (net) 500,000 370,000 358,000 $725,000 $600,000 $533,000 Current liabilities $ 85,000 $ 80,000 $ 70,000 Long-term debt 145,000 85,000 50,000 Common stock, $10 par 320,000 310,000 300,000 Retained earnings 175,000 125,000 113,000...
Problem 13-03A (Essay) Condensed balance sheet and income statement data for Jergan Corporation are presented here,...
Problem 13-03A (Essay) Condensed balance sheet and income statement data for Jergan Corporation are presented here, JERGAN CORPORATION Balance Sheets December 31 2022 2021 Cash $ 30,000 $ 20,000 Accounts receivable (net) 50,000 45,000 Other current assets 90,000 95,000 Investments 55,000 70,000 Plant and equipment (net) 500,000 370,000 $725,000 $600,000 Current liabilities $ 85,000 $ 80,000 Long-term debt 145,000 85,000 Common stock, $10 par 320,000 310,000 Retained earnings 175,000 125,000 $725,000 $600,000 2020 $ 18,000 48,000 64,000 45,000 358,000 $533,000...
Condensed balance sheet and income statement data for Concord Corporation are presented here. Concord Corporation Balance...
Condensed balance sheet and income statement data for Concord Corporation are presented here. Concord Corporation Balance Sheets December 31 2020 2019 Cash $ 31,000 $ 21,000 Accounts receivable (net) 51,000 46,000 Other current assets 98,000 103,000 Investments 63,000 78,000 Plant and equipment (net) 500,000 370,000 $743,000 $618,000 Current liabilities $ 86,000 $ 81,000 Long-term debt 153,000 93,000 Common stock, $10 par 328,000 318,000 Retained earnings 176,000 126,000 $743,000 $618,000 2018 $ 19,000 49,000 72,000 53,000 358,000 $551,000 $ 71,000 58,000...
Condensed balance sheet and income statement data for Flounder Corporation are presented here Flounder Corporation Balance...
Condensed balance sheet and income statement data for Flounder Corporation are presented here Flounder Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 33,000 $23,000 $21,000 53,000 92,000 57,000 500,000 48,000 97,000 72,000 370,000 51,000 66,000 47,000 358,000 $735,000 $610,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 88,000 83,000 $73,000 87,000 312,000 128,000 $735,000 $610,000 $543,000 147,000 322,000 178,000 52,000 302,000 116,000 Flounder...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $ 29,200 $16,100 $ 18,100 Accounts receivable (net) 50,400 45,600 48,100 Other current assets 90,700 94,900 63,200 Investments 54,700 70,400 45,100 Plant and equipment (net) 499,800 $724,800 370,600 $597,600 358,700 $533,200 $69,600 50,500 Current liabilities $84,900 $80,800 Long-term debt 145,100 85,700 Common stock, $10 par Retained earnings 315,000 179,800 $724,800 319,000 112,100 $597,600 301,000 112,100 $533,200 Jergan...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2019 2020 2018 $29,100 $17,400 $17,800 Cash Accounts receivable (net) 50,000 44,700 47,500 Other current assets 90,100 95,700 63,500 Investments 70,600 44,000 54,500 Plant and equipment (net) 500,500 370,700 358,200 $724,200 $599,100 $531,000 Current liabilities $85,000 $80,500 $69,100 144,900 Long-term debt 84,200 49,500 Common stock, $10 par 342,000 311,000 299,000 Retained earnings 152,300 123,400 113,400 $724,200 $599,100 $531,000 Jergan Corporation Income...
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance Sheets
December 31
2020
2019
2018
Cash
$ 29,300
$ 17,300
$ 17,000
Accounts receivable (net)
49,900
44,100
47,800
Other current assets
90,900
96,000
63,900
Investments
55,200
70,200
45,600
Plant and equipment (net)
500,700
370,600
358,000
$726,000
$598,200
$532,300
Current liabilities
$84,800
$79,100
$70,300
Long-term debt
145,700
85,900
50,800
Common stock, $10 par
348,000
320,000
312,000
Retained earnings
147,500
113,200
99,200
$726,000
$598,200
$532,300...
C Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash $30,100 $16,100 $18,300 Accounts receivable (net) 49,800 45,500 47,900 Other current assets 89,600 95,000 63,000 Investments 55,100 70,000 46,000 Plant and equipment (net) 500,100 370,800 358,600 $724,700 $597,400 $533,800 Current liabilities $84,500 $79,400 $69,700 Long-term debt 145,700 84,300 50,700 Common stock, $10 par 319,000 381,000 306,000 Retained earnings 113,500 114,700 107,400 $724,700 $597,400 $533,800 Jergan Corporation...
Problem 18-03A a Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 30,000 50,500 89,100 54,900 500,200 $724,700 $85,700 144,400 381,000 113,600 $724,700 $ 16,000 44,200 94,500 71,000 370,800 $596,500 $ 18,500 47,300 64,200 45,800 357,000 $532,800 Current liabilities Long-term debt Common stock, $10 par Retained earnings $79,400 84,800 318,000 114,300 $596,500 $70,400 49,600...
Problem 13-03A (Essay) Condensed balance sheet and income statement data for Jergan Corporation are presented here, JERGAN CORPORATION Balance Sheets December 31 2022 2021 Cash $ 30,000 $ 20,000 Accounts receivable (net) 50,000 45,000 Other current assets 90,000 95,000 Investments 55,000 70,000 Plant and equipment (net) 500,000 370,000 $725,000 $600,000 Current liabilities $ 85,000 $ 80,000 Long-term debt 145,000 85,000 Common stock, $10 par 320,000 310,000 Retained earnings 175,000 125,000 $725,000 $600,000 2020 $ 18,000 48,000 64,000 45,000 358,000 $533,000...
Condensed balance sheet and income statement data for Concord Corporation are presented here. Concord Corporation Balance Sheets December 31 2020 2019 Cash $ 31,000 $ 21,000 Accounts receivable (net) 51,000 46,000 Other current assets 98,000 103,000 Investments 63,000 78,000 Plant and equipment (net) 500,000 370,000 $743,000 $618,000 Current liabilities $ 86,000 $ 81,000 Long-term debt 153,000 93,000 Common stock, $10 par 328,000 318,000 Retained earnings 176,000 126,000 $743,000 $618,000 2018 $ 19,000 49,000 72,000 53,000 358,000 $551,000 $ 71,000 58,000...
Condensed balance sheet and income statement data for Flounder Corporation are presented here Flounder Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 33,000 $23,000 $21,000 53,000 92,000 57,000 500,000 48,000 97,000 72,000 370,000 51,000 66,000 47,000 358,000 $735,000 $610,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 88,000 83,000 $73,000 87,000 312,000 128,000 $735,000 $610,000 $543,000 147,000 322,000 178,000 52,000 302,000 116,000 Flounder...
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