The comparative statements of Coronado Company are presented here. CoronadoCompany Income StatementsFor the Years Ended December 31 2022 2021 Net sales $1,812,100 $1,745,000 Cost of goods sold 1,008,300 986,000 Gross profit 803,800 759,000 Selling and administrative expenses 511,000 475,400 Income from operations 292,800 283,600 Other expenses and losses Interest expense 17,300 13,500 Income before income taxes 275,500 270,100 Income tax expense 78,640 77,600 Net income $ 196,860 $ 192,500 Coronado Company Balance SheetsDecember 31 Assets 2022 2021 Current assets Cash $60,300 $64,400 Debt investments (short-term) 68,700 50,700 Accounts receivable (net) 116,500 101,200 Inventory 122,900 114,100 Total current assets 368,400 330,400 Plant assets (net) 601,300 516,700 Total assets $969,700 $847,100 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $160,500 $145,700 Income taxes payable 43,100 41,800 Total current liabilities 203,600 187,500 Bonds payable 220,000 200,000 Total liabilities 423,600 387,500 Stockholders’ equity Common stock ($5 par) 282,500 296,500 Retained earnings 263,600 163,100 Total stockholders’ equity 546,100 459,600 Total liabilities and stockholders’ equity $969,700 $847,100 All sales were on credit. Net cash provided by operating activities for 2022 was $246,000. Capital expenditures were $142,000, and cash dividends paid were $96,360. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $enter a dollar amount rounded to 2 decimal places The Answer I put was 3.48 Earnings per share and it was Wrong

The comparative statements of Coronado Company are presented here. Coronado Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,100 $1,745,000 Cost of goods sold...

The comparative statements of Coronado Company are presented here.

CoronadoCompany Income Statements For the Years Ended December 31
	2022	2021
Net sales	$1,812,100		$1,745,000
Cost of goods sold	1,008,300		986,000
Gross profit	803,800		759,000
Selling and administrative expenses	511,000		475,400
Income from operations	292,800		283,600
Other expenses and losses
Interest expense	17,300		13,500
Income before income taxes	275,500		270,100
Income tax expense	78,640		77,600
Net income	$ 196,860		$ 192,500

Coronado Company Balance Sheets December 31
Assets	2022	2021
Current assets
Cash	$60,300		$64,400
Debt investments (short-term)	68,700		50,700
Accounts receivable (net)	116,500		101,200
Inventory	122,900		114,100
Total current assets	368,400		330,400
Plant assets (net)	601,300		516,700
Total assets	$969,700		$847,100
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$160,500		$145,700
Income taxes payable	43,100		41,800
Total current liabilities	203,600		187,500
Bonds payable	220,000		200,000
Total liabilities	423,600		387,500
Stockholders’ equity
Common stock ($5 par)	282,500		296,500
Retained earnings	263,600		163,100
Total stockholders’ equity	546,100		459,600
Total liabilities and stockholders’ equity	$969,700		$847,100

All sales were on credit. Net cash provided by operating activities for 2022 was $246,000. Capital expenditures were $142,000, and cash dividends paid were $96,360.

Compute the following ratios for 2022.
(Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)

(a)		Earnings per share		$enter a dollar amount rounded to 2 decimal places

The Answer I put was 3.48 Earnings per share and it was Wrong

Jun 10, 2022

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The comparative statements of Coronado Company are presented here. Coronado Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,100 $1,745,000 Cost of goods sold...

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