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Exam 13: Financial Statement Analysis

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Question 1

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Mormino Corporation's income statement appears below: The company's gross margin percentage is closest to:

A) 1888.9%
B) 5.3%
C) 41.1%
D) 69.9%

E) A) and B)
F) C) and D)

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Question 2

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Symons Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. The company's price-earnings ratio for Year 2 is closest to:

A) 3.79
B) 10.58
C) 0.17
D) 7.44

E) A) and D)
F) A) and B)

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Question 3

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Sabino Corporation's total common stock was $500,000 at the end of both Year 2 and Year 1. The par value of common stock is $5 per share. The company's total stockholders' equity at the end of Year 2 amounted to $1,125,000 and at the end of Year 1 to $1,090,000. The company's total liabilities and stockholders' equity at the end of Year 2 amounted to $1,581,000 and at the end of Year 1 to $1,540,000. The company's retained earnings at the end of Year 2 amounted to $545,000 and at the end of Year 1 to $510,000. The company's net income in Year 2 was $39,000. The company's book value per share at the end of Year 2 is closest to:

Data from Yochem Corporation's most recent balance sheet appear below: Required: Compute the company's acid-test ratio. Show your work!

Gambino Corporation has provided the following financial data: Required: a. What is the company's times interest earned for Year 2? b. What is the company's debt-to-equity ratio at the end of Year 2? c. What is the company's equity multiplier at the end of Year 2?

Dratif Corporation's working capital is $33,000 and its current liabilities are $80,000. The corporation's current ratio is closest to:

The formula for the return on equity is: Return on equity = Net income ÷ Average total stockholders' equity.

Nickolls Corporation has provided the following financial data: The company's working capital is:

Data from Estrin Corporation's most recent balance sheet and income statement appear below: $\begin{array} { | l | r | r | } \hline & \text { This Y ear } & \text { Last Year } \\\hline \text { Accounts receivable } & \$ 109,000 & \$ 106,000 \\\hline \text { Inventory } & \$ 139,000 & \$ 158,000 \\\hline \text { Sales on account } & \$ 787,000 & \\\hline \text { Cost of goods sold } & \$ 501,000 & \\\hline\end{array}$ The average sale period for this year is closest to:

Mihok Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,000. The market price of common stock at the end of Year 2 was $0.97 per share. Required: a. What is the company's earnings per share for Year 2? b. What is the company's price-earnings ratio for Year 2? c. What is the company's dividend payout ratio for Year 2? d. What is the company's dividend yield ratio for Year 2? e. What is the company's book value per share at the end of Year 2?

Liquidity refers to how quickly an asset can be converted into cash.

Remley Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $3,000. The market price of common stock at the end of Year 2 was $2.70 per share. Required: a. What is the company's times interest earned for Year 2? b. What is the company's debt-to-equity ratio at the end of Year 2? c. What is the company's equity multiplier at the end of Year 2? d. What is the company's earnings per share for Year 2? e. What is the company's price-earnings ratio for Year 2? f. What is the company's dividend payout ratio for Year 2? g. What is the company's dividend yield ratio for Year 2? h. What is the company's book value per share at the end of Year 2?

Mahoe Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share. The company's total asset turnover for Year 2 is closest to:

Kisselburg Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $4,000. The market price of common stock at the end of Year 2 was $5.75 per share. Required: a. What is the company's working capital at the end of Year 2? b. What is the company's current ratio at the end of Year 2? c. What is the company's acid-test (quick) ratio at the end of Year 2? d. What is the company's accounts receivable turnover for Year 2? e. What is the company's average collection period (age of receivables) for Year 2? f. What is the company's inventory turnover for Year 2? g. What is the company's average sale period (turnover in days) for Year 2? h. What is the company's operating cycle for Year 2? i. What is the company's total asset turnover for Year 2? j. What is the company's times interest earned for Year 2? k. What is the company's debt-to-equity ratio at the end of Year 2? l. What is the company's equity multiplier at the end of Year 2? m. What is the company's net profit margin percentage for Year 2? n. What is the company's gross margin percentage for Year 2? o. What is the company's return on total assets for Year 2? p. What is the company's return on equity for Year 2? q. What is the company's earnings per share for Year 2? r. What is the company's price-earnings ratio for Year 2? s. What is the company's dividend payout ratio for Year 2? t. What is the company's dividend yield ratio for Year 2? u. What is the company's book value per share at the end of Year 2?

Garrott Corporation's total assets were $1,505,000 at the end of Year 2 and $1,520,000 at the end of Year 1. Its total stockholders' equity was $1,197,000 at the end of Year 2 and $1,180,000 at the end of Year 1. The company's return on equity for Year 2 is closest to:

Fraction Corporation has provided the following financial data: Required: a. What is the company's times interest earned for Year 2? b. What is the company's debt-to-equity ratio at the end of Year 2? c. What is the company's equity multiplier at the end of Year 2?

Financial statements for Maraby Corporation appear below: Maraby Corporation's current ratio at the end of Year 2 was closest to:

When fixed costs are included in the cost of goods sold, the gross margin percentage should increase and decrease with sales volume.

Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The accounts receivable turnover for Year 2 is closest to:

Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's accounts receivable turnover for Year 2 is closest to: