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SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014...

SMOLIRA GOLF CORP.
2014 and 2015 Balance Sheets
Assets Liabilities and Owners’ Equity
2014 2015 2014 2015
  Current assets   Current liabilities
      Cash $ 24,246 $ 26,100       Accounts payable $ 25,184 $ 29,100
      Accounts receivable 14,448 17,200       Notes payable 20,000 12,800
      Inventory 27,992 29,100       Other 13,571 18,100
        Total $ 66,686 $ 72,400         Total $ 58,755 $ 60,000
  Long-term debt $ 89,000 $ 101,000
  Owners’ equity
      Common stock and paid-in surplus $ 50,000 $ 50,000
      Accumulated retained earnings 213,626 226,000
  Fixed assets
  Net plant and equipment $ 344,695 $ 364,600   Total $ 263,626 $ 276,000
  Total assets $ 411,381 $ 437,000   Total liabilities and owners’ equity $ 411,381 $ 437,000


SMOLIRA GOLF CORP.
2015 Income Statement
  Sales $ 360,968
  Cost of goods sold 262,500
  Depreciation 29,200
  Earnings before interest and taxes $ 69,268
  Interest paid 16,300
  Taxable income $ 52,968
  Taxes (20%) 10,594
  Net income $ 42,374
      Dividends $ 30,000
      Retained earnings 12,374


Smolira Golf Corp. has 40,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2015 was $30.

  

What is the price-earnings ratio? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

  

  Price-earnings ratio times

  

What are the dividends per share? (Round your answer to 2 decimal places, e.g., 32.16.)

  

  Dividends per share

  

What is the market-to-book ratio at the end of 2015? (Round your answer to 2 decimal places, e.g., 32.16.)

  

  Market-to-book ratio times

   

If the company’s growth rate is 8 percent, what is the PEG ratio? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

  

  PEG ratio times

Solutions

Expert Solution

Price-earnings ratio                                        28.32 times
30/(42374/40000)
Dividends 0.75 per share
30000/40000
Market-to-book ratio                                           4.35 times
30/(276000/40000)
PEG ratio                                      353.99 times
(30/(42374/40000))/8%

jeff jeffy answered 1 year ago
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