Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

Condensed balance sheet and income statement data for Kersenbrock Corporation appear below.

Condensed balance sheet and income statement data for Kersenbrock Corporation appear below. KERSENBROCK CORPORATION Balance Sheets December 312007 $ 18,000 48,000 64,000 45,000 Plant and equipment (net) 400,000370,000358,000$640,000$600,000$533,000$ 70,000 50,000 300,000 Retained earnings 145,000125,000113,000$640,000$600,000$533,000 KERSENBROCK CORPORATION Income Statement For the Year Ended December 312008 $700,000 Less: Sales returns and allowances 40,00050,000650,000 Cost of goods sold 420,000400,000250,000 Operating expenses (including income taxes) 235,000220,000 Net income $ 45,000$ 30,000Additional information: The market price of Kersenbrock's common stock was $4.00, $5.00, and $8.00 for 2007, 2008, and 2009, respectively. All dividends were paid in cash. InstructionsCompute the following ratios for 2008 and 2009. (Weighted-average-common shares in 2009 were 32,000 and in 2008 were 31,000.) (Round earnings per share to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place, e.g. 10.5.)2008 2009 (1) Profit margin % % (2) Asset turnover times times (3) Earnings per share $ $ (4) Price-earnings times times (5) Payout % % (6) Debt to total assets % %

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question