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Author Question: M & M has provided the following comparative income statements and supplemental ... (Read 5 times)

Labomba

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on: Feb 5, 2023
M & M has provided the following comparative income statements and supplemental information:

​​202020212022
Net sales$120,000$132,000$136,000
Cost of goods sold   62,000   68,000   72,000
Gross margin58,00064,00064,000
Selling and administrative expenses24,00026,00036,000
Depreciation     4,000     6,000     8,000
Operating profit30,00032,00020,000
Income taxes   10,000     8,000     5,000
Net income$  20,000$  24,000$  15,000
​​​​
Earnings per share$  2.00$  2.70$  1.80
Dividends paid per share1.401.401.40
Market price per share12.0016.0010.00

Required:

a.Calculate M & M's gross margin percentage for 2021.
b.Calculate M & M's price/earnings ratio for 2021.
c.Calculate M & M's dividend payout ratio for 2021.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by Labomba on Feb 5, 2023

kuttz

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Reply #1 on: Feb 5, 2023
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Labomba

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

carojassy25

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Reply 3 on: Yesterday
Wow, this really help

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