Selected financial information for Company B is shown below for the fiscal years 2018 and 2019....
Selected financial information for Company B is shown below for the fiscal years 2018 and 2019.
| 2018 | 2019 | |
|---|---|---|
| Revenue | $152,256 | $155,427 |
| Gross Profit | $12,020 | $20,502 |
| Operating Income | $(30,363) | $5,231 |
| Net Income | $6,188 | $5,346 |
| Total Assets | $149,422 | $166,344 |
| Total Liabilities | $112,422 | $123,170 |
What are the Leverage and Return on Equity values for 2019? Use the average of beginning and ending balances for balance sheet items.
A. 0.98 and 51%, respectively
B. 1.34 and 13%, respectively
C. 1.34 and 51%, respectively
D. 3.94 and 13%, respectively
Homework Answers
Average net income= ($6188+$5346) /2 = $5767
Average total assets= ($149422+$166344) /2 = $157883
Begining Shareholders equity= Begining total assets - Begining total liabilities = $149422 - $112422 = $37000
closing Shareholders equity= closing total assets - Closing total liabilities = $166344 - $123170 = $43174
Average shareholders equity = ($37000 + $43174) /2 = $40087
Leverage = Average Total Asset / Average Equity = $157883 / $40087 = 3.9385 i.e. 3.94
Return on Equity = Net income of 2019 / Average equity = ($5346 / $40087) *100 = 13.33% i.e. 13%
Therefore, we take the answer of D i.e. Leverage and ROE are 3.94 and 13%, respectively.
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