16 May Question3.Problem 2-6 Income statement [LO1]
Question
3.Problem 2-6 Income statement [LO1]
| Given the following information, prepare an income statement for the Dental Drilling Company. (Input all amounts as positive values. Omit the “$” sign in your response.) |
| Selling and administrative expense | $ | 73,000 |
| Depreciation expense | 78,000 | |
| Sales | 521,000 | |
| Interest expense | 48,000 | |
| Cost of goods sold | 200,000 | |
| Taxes | 47,000 | |
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6.Problem 2-15 Development of balance sheet [LO3]
| Arrange the following items in proper balance sheet presentation (Be sure to list the assets in order of their liquidity. Input all amounts as positive values. Omit the “$” sign in your response): |
| Accumulated depreciation | $ | 309,000 |
| Retained earnings | 187,000 | |
| Cash | 14,000 | |
| Bonds payable | 136,000 | |
| Accounts receivable | 54,000 | |
| Plant and equipment—original cost | 775,000 | |
| Accounts payable | 35,000 | |
| Allowance for bad debts | 9,000 | |
| Common stock, $1 par, 100,000 shares outstanding | 100,000 | |
| Inventory | 70,000 | |
| Preferred stock, $59 par, 1,000 shares outstanding | 59,000 | |
| Marketable securities | 24,000 | |
| Investments | 20,000 | |
| Notes payable | 34,000 | |
| Capital paid in excess of par (common stock) | 88,000 | |
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9. Problem 2-18 Price-earnings ratio [LO2]
| Botox Facial Care had earnings after taxes of $364,000 in 2009 with 200,000 shares of stock outstanding. The stock price was $93.80. In 2010, earnings after taxes increased to $424,000 with the same 200,000 shares outstanding. The stock price was $133.00. |
| (a) | Compute earnings per share and the P/E ratio for 2009. The P/E ratio equals the stock price divided by earnings per share. (Enter only numeric values.Round your intermediate calculations and final answers to 2 decimal places. Omit the “$” sign in your response.) |
| Earnings per share | $ |
| P/E ratio |
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