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Using the data of Voyageur Inc from problem 15-2, determine the following amounts and ratios for 2003. All answers should be in 4 decimal points

Voyageur Inc Income Statement for the year ended December 31st, 2003;

Amount                Percent

Sales                                                                       12,800,000

Sales returns and allowances          300,000

Net sales                                                               12,500,000               100%

Cost of good sold                               7,550,000

Gross profit                                                             4,950,000

Selling expenses                               1,550,000

Administrative expenses                   825,000

Total operating expenses                                     2,375,000

Operating income                                                  2,575,000

Other income                                                             125,000

2,700,000

Other expenses(interest)                150,000

Income before Income taxes                              2,550,000

Income taxes                                   937,000

Net Income                                                            1,613,000

Problem 15-3

Voyageur Inc declared $250,000 of common stock dividends during 2003. The price of Voyageur Inc is common stock on December 31, 2003 is $29.75.

Instructions:

Using the data of Voyageur Inc from problem 15-2, determine the following amounts and ratios for 2003. All answers should be in 4 decimal points

calculations result

a) working capital

b) current capital

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