The following condensed information is reported by Sporting Collectibles. 2021 2020 $13,020,000 8,436,960 394,320 $9,000,000...
50.1K
Verified Solution
Link Copied!
Question
Accounting
The following condensed information is reported by Sporting Collectibles. 2021 2020 $13,020,000 8,436,960 394,320 $9,000,000 6,500,000 308,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,660,000 2,260,000 $ 3,920,000 $ 1,260,000 1,440,000 860,000 360,000 $ 3,920,000 $1,560,000 1,960,000 $3,520,000 $ 960,000 1,440,000 860,000 260,000 $3,520,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio Return on assets Profit margin Asset turnover e. Return on equity % times 2. Determine the amount of dividends paid to shareholders in 2021. The amount of dividends paid
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
