THE PADDLE COMPANY RECREATIONAL LIFE VESTS Comparative Financial Statements Comparative Financial Statements Years Ended December 31 Years Ended December 31 Income Statement 2019 2018 2017 2019 2018 2017 Net Sales

THE PADDLE COMPANY RECREATIONAL LIFE VESTS Comparative Financial Statements Comparative Financial Statements Years Ended December 31 Years Ended December 31 Income Statement 2019 2018 2017 2019 2018 2017 Net Sales Revenue $ 435,489 $ 425,410 $ 410,570 $ 383,870 Cost of Goods Sold 258,756 256,797 299,110 280,190 Gross Profit 176,733 168,613 111,460 103,680 Operating Expenses 153,880 151,922 78,290 70,830 Operating Income 22,853 16,691 33,170 32,850 Interest Expense 865 788 2,780 2,980 Income before Income Tax 21,988 15,903 30,390 29,870 Income Tax Expense 5,137 4,809 8,780 8,630 Net Income $  16,851 $  11,094 $  21,610 $  21,240 Balance Sheet 2019 2018 2017 2019 2018 2017 Assets Cash & Cash Equivalents $  69,159 $  70,793 $  65,730 $  55,270 Accounts Receivable 44,798 44,452 $ 44,104 39,810 38,650 $  36,460 Merchandise Inventory 79,919 66,341 76,363 68,500 65,230 59,930 Other Current Assets 15,494 16,264 24,450 37,630 Total Current Assets 209,370 197,850 198,490 196,780 Long-term Assets 89,834 90,776 116,760 116,270 Total Assets $ 299,204 $ 288,626 $ 276,482 $ 315,250 $ 313,050 $ 310,640 Liabilities Current Liabilities $  69,554 $  60,232 $  90,810 $  90,010 Long-term Liabilities 31,682 29,936 96,310 105,890 Total Liabilities 101,236 90,168 187,120 195,900 Stockholders’ Equity Common Stock 72,795 80,885 111,530 102,480 Retained Earnings 125,173 117,573 16,600 14,670 Total Stockholders’ Equity 197,968 198,458 197,668 128,130 117,150 103,840 Total Liabilities and Stockholder’s Equity $ 299,204 $ 288,626 $ 315,250 $ 313,050 Other Data Market price per share $   21.38 $   33.82 $   46.37 $ 51.64 Annual dividend per share 0.32 0.30 0.53 0.45 Weighted average number of shares outstanding 9,000 8,000 Using the financial statements just given, compute the following ratios for both The Paddle Company (PC) and Recreational Life Vests (RLV) for 2019 and 2018. Assume all sales are credit sales. Round all ratios to two decimal places. Debt ratio Debt to equity ratio Profit margin ratio

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer