Garmer\'s Platoon Mental Health Care, Inc Income Statement for Years Ending Dece

Question

Garmer's Platoon Mental Health Care, Inc Income Statement for Years Ending December 31, 2016 In Millions) 2016 Net Sales Cost of Goods Sold Gross Profit 246 s 3,500 s 205 Earnings Before Interest, Taxes, Depreciation, and Amortization Depreciation Operating Income S 3,295 $ 200 s 3,095 S 500 S 2,595 EBT Taxes 7 Net Income Preferred Stock Dividends s 1,850 S 60 Net Income Available to Common Stockholders Common Stock Dividends S 1,790 S 395 S 1,395 Addition to Retained Earnings Per Share Data: Earnings Per Share Dividends Per Share Book Value per Share CHAP

Explanation / Answer

1. Net Sales = $2246 + $3500 = $5746 Million

2. Taxes = EBT - Net Income = $2595 - $1850 = $745 Million

3. Earnings Per Share = Net Income Available to Common Stock / No. of shares o/s

Earnings Per Share = $1790 / 200 Million = $8.95 per share

4. Dividends Per Share = Common Stock Dividends / No. of shares o/s

Dividends Per Share = $395 / 200 Million = $1.975 per share

5. Book Value per Share = Common Stock + Retained Earnings / No. of shares o/s

Book Value per Share = $637 + $3600 / 200 = $21.185 per share

6. Accounts Receivable = Current Assets - Cash - Inventory = $4538 - 1760 - $1000 = $1778 Million

7. Gross Plant and Equipment = Net P&E + Depreciation = $5000 + $1050 = $6050 Million

8. Other Long Term Assets = Total Fixed Assets - Net P&E = $6064 - $5000 = $1064 Million

9. Total Assets = Current Assets + Total Fixed Assets = $4538 + $6064 = $10602 Million

10. Notes Payable = Current Liabilities - Accrued Wages and Taxes - Accounts Payable = $2055 - $375 - $920 = $760 Million

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