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The following financial information is for Sheridan Company. SHERIDAN COMPANY Balance Sheets December 31 Assets 2022 2021 $ 7SHERIDAN COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue Cost of goods sold Gross profit Op(b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected r

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Answer #1
2022 2023 Change % Formula
Return on Common Stockholders
Net Income 51000 52000
Common Stock 200000 400000
Return on Common Stockholders 25.5% 13.0% -12.5% Net Income / Common Stock
Debt to Assets
Total Assets
Opening Total Assets 709000 878000
Closing Total Assets 878000 856000
Average Total Assets 1148000 1306000
Debt
Notes Payable 169000 0
Bonds Payable 251000 251000
Total 420000 251000
Debt to Assets Ratio 37% 19% -17% Debt / Total Assets
Price Earning Ratio
Market Price 9 12
Net Income 51000 52000
Common Stock Units 20000 40000
Earning Per Share 2.55 1.3
Price Earning Ratio 3.5 9.2 162% Price / Earnings
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