The financial statements for Castile Products, Inc., are given below: Castile Pr

Question

The financial statements for Castile Products, Inc., are given below: Castile Products, Inc Balance Sheet December 31 Assets Current assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 22,000 230,000 370,000 9,000 Total current assets Property and equipment, net 631,000 890,000 Total assets $1,521,000 Liabilities and Stockholders' Equity Liabilities Current liabilities Bonds payable, 11% $ 280,000 390,000 670,000 $ 140,000 Total liabilities Stockholders' equity Common stock, $10 par value Retained earnings 711,000 851,000 $1,521,000 Total stockholders' equity Total liabilities and equity Castile Products, Inc Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Seling and administrative expenses Net operating income Interest expense $2,130,000 1,190,000 940,000 610,000 330,000 42,900 Net income before taxes Income taxes (30%) 287,100 86,130 Net income $ 200,970

Explanation / Answer

EPS (200970/14000) 14.355 dividend payout (3.45/14.355) 24.03% dividend yield (3.45/66) 5.23% P/E ratio (66/14.355) 4.60

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.