- The Following Condensed Information Is Reported By Sporting Collectibles 2021 2020 Income Statement Information Sales R 1 (49.65 KiB) Viewed 2375 times
- The Following Condensed Information Is Reported By Sporting Collectibles 2021 2020 Income Statement Information Sales R 2 (12.03 KiB) Viewed 2375 times
The following condensed information is reported by Sporting Collectibles. 2021 2020 Income Statement Information Sales revenue $10,024,000 $8,300,000 Cost of goods sold Net income 6,565,720 354,420 5,800,000 238,000 Balance Sheet Information Current assets Long-term assets Total assets $ 1,590,000 2,190,000 $ 3,780,000 $ 1,190,000 1,510,000 790,000 290,000 $1,490,000 1,890,000 $3,380,000 $ 890,000 1,510,000 790,000 190,000 Current liabilities Long-term liabilities Common stock Retained earnings. Total liabilities and stockholders' equity $ 3,780,000 $3,380,000 Required: 1. Calculate the following profitability ratiós for 2021: (Round your answers to 1 decimal place.) es Profitability Ratios % a. Gross profit ratio b. Return on assets C. Profit margin d. Asset turnover e. Return on equity Se de % % times %
2. Determine the amount of dividends paid to shareholders in 2021. The amount of dividends paid