Figure 16-2.Financial statements for Grange Company appear below:
Dividends during 2014 totaled $127,000, of which $5,000 were preferred dividends.The market price of a share of common stock on December 31, 2014, was $100.
-The following ratios have been computed for Gilbert Company for 2014.
Gilbert Company's 2014 financial statements with missing information follow:
Required: Use the above ratios and information from the Gilbert Company financial statements to fill in the missing information on the financial statements. Follow the sequence indicated. Show computations that support your answers.

Question

Figure 16-2.Financial statements for Grange Company appear below:
   Dividends during 2014 totaled $127,000, of which $5,000 were preferred dividends.The market price of a share of common stock on December 31, 2014, was $100.
-The following ratios have been computed for Gilbert Company for 2014.
  Gilbert Company's 2014 financial statements with missing information follow:
   Required: Use the above ratios and information from the Gilbert Company financial statements to fill in the missing information on the financial statements. Follow the sequence indicated. Show computations that support your answers.

Quizplus · Accepted Answer

The Answer of Figure 16-2.Financial statements for Grange Company appear below:
   Dividends during 2014 totaled $127,000, of which $5,000 were preferred dividends.The market price of a share of common stock on December 31, 2014, was $100.
-The following ratios have been computed for Gilbert Company for 2014.
  Gilbert Company's 2014 financial statements with missing information follow:
   Required: Use the above ratios and information from the Gilbert Company financial statements to fill in the missing information on the financial statements. Follow the sequence indicated. Show computations that support your answers.

Figure 16-2.Financial Statements for Grange Company Appear Below