The financial statements for Castile Products, Inc., are given below:
Castile Products, Inc. Balance Sheet December 31 | ||||||
Assets | ||||||
Current assets: | ||||||
Cash | $ | 6,500 | ||||
Accounts receivable, net | 35,000 | |||||
Merchandise inventory | 70,000 | |||||
Prepaid expenses | 3,500 | |||||
Total current assets | 115,000 | |||||
Property and equipment, net | 185,000 | |||||
Total assets | $ | 300,000 | ||||
Liabilities and Stockholders' Equity | ||||||
Liabilities: | ||||||
Current liabilities | $ | 50,000 | ||||
Bonds payable, 10% | 80,000 | |||||
Total liabilities | 130,000 | |||||
Stockholders’ equity: | ||||||
Common stock, $5 per value | 30,000 | |||||
Retained earnings | 140,000 | |||||
Total stockholders’ equity | 170,000 | |||||
Total liabilities and stockholders’ equity | $ | 300,000 | ||||
Castile Products, Inc. Income Statement For the Year Ended December 31 | |||
Sales | $ | 420,000 | |
Cost of goods sold | 292,500 | ||
Gross margin | 127,500 | ||
Selling and administrative expenses | 89,500 | ||
Net operating income | 38,000 | ||
Interest expense | 8,000 | ||
Net income before taxes | 30,000 | ||
Income taxes (30%) | 9,000 | ||
Net income | $ | 21,000 | |
Account balances at the beginning of the year were: accounts receivable, $25,000; and inventory, $60,000. All sales were on account.
Assume that Castile Products, Inc., paid dividends of $2.10 per share during the year. Also assume that the company’s common stock had a market price of $42 at the end of the year and there was no change in the number of outstanding shares of common stock during the year.
Required:
Compute financial ratios as follows:
1. Earnings per share. (Round your answer to 2 decimal places.)
2. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).)
3. Dividend yield ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).)
4. Price-earnings ratio. (Round your intermediate calculations to 2 decimal places. Round your answer to nearest whole number.)
5. Book value per share. (Round your answer to 2 decimal places.)
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The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 6,500 Accounts receivable, net 35,000 Merchandise inventory 70,000 Prepaid expenses 3,50
please help asap Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 88 Total liabilities Stockholders' equity: Common stock, $10 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 22,000 170,000 390.000 7,000 589,000 890,000 $1,479,000 $ 230,000 350,000 580,000 $ 160,000 739,000 899,000 $1,479,000 Castile Products, Inc. Income Statement...
The financial statements for Castile Products, Inc., are given below Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 21,000 260,000 360,000 8,000 Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets 649,000 820,000 Property and equipment, net Total assets $1,469,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $300,000 350,000 Bonds payable, 11% Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings 650,000 $110,000 709,000 Total stockholders' equity 819,000 Total liabilities and equity $1,469,000...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net $ Accounts 23,000 190,000 400,000 8,000 621,000 890,000 890,000 Total assets $1,511,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 12% $ 210,000 370,000 Total liabilities Stockholders' equity Common stock, $5 par value Retained earnings 580,000 $ 130,000 801,000 Total stockholders' equity Total liabilities...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 21,000 260,000 350,000 8,000 Total current assets Property and equipment, net 639,000 890,000 $1,529,000 Total assets Liabilities and Stockholders' Equity Liabilities $ 230,000 Current liabilities Bonds payable, 12% 320,000 550,000 $ 200,000 Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings 779,000 979,000 $1,529,000 Total stockholders' equity Total liabilities...
Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash 21,000 Accounts receivable, net 210,000 Merchandise inventory 320,000 Prepaid expenses 10,000 Total current assets 561,000 Property and equipment, net 870,000 Total assets $1,431,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 260,000 Bonds payable, 11% 390,000 Total liabilities 650,000 Stockholders' equity: Common stock, $5 par value $ 150,000 Retained earnings 631,000 Total stockholders' equity 781,000 Total liabilities and $1,431,000 stockholders' equity Castile Products, Inc. Income Statement For the Year...
Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 10% Total liabilities Stockholders' equity: Common stock, $5 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 6,500 35,000 70,000 3,500 115,000 185,000 $300,000 $ 50,000 80,000 130,000 30,000 140,000 170,000 $300,000 Castile Products, Inc. Income Statement For the Year...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 20,000 Accounts receivable, net 240,000 Merchandise inventory 400,000 Prepaid expenses 8,000 Total current assets 668,000 Property and equipment, net 840,000 Total assets $ 1,508,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 300,000 Bonds payable, 12% 310,000 Total liabilities 610,000 Stockholders’ equity: Common stock, $10 par value $ 180,000 Retained earnings 718,000 Total stockholders’ equity 898,000 Total liabilities...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 21,000 220,000 300,000 11,000 Total current assets Property and equipment, net 552,000 900,000 Total assets $1,452,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 9% $ 230,000 350,000 580,000 Total liabilities Stockholders' equity: Common stock, $10 par value Retained earnings e $ 110,000 762,000 Total stockholders' equity Total liabilities and...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses S 21,000 220,000 300,000 11,000 Total current assets Property and equipment, net 552,000 900,000 Total assets $1,452,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 9 % $230,000 350,000 Total liabilities Stockholders' equity: Common stock, $10 par value Retained earnings 580,000 $110,000 762,000 Total stockholders' equity 872,000 Total liabilities and stockholders'...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance sheet December 31 Assets Current assets: Cash 19,000 Accounts receivable, net 240,000 Merchandise inventory 370,000 Prepaid expenses 8,000 Total current assets 637,000 Property and equipment, net 850,000 Total assets $1,487,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 220,000 Bonds payable, 10% 380,000 Total liabilities 600,000 Stockholders' equity: Common stock, $10 per value $ 180,000 Retained earnings 707,000 Total stockholders' equity 887,000 Total liabilities and stockholders'...