Use the following data to answer the next four questions: Q38 TO Q41 M & B Marine Products…

Use the following data to answer the next four questions: Q38 TO Q41 M & B Marine Products…

Use the following data to answer the next four questions: Q38 TO Q41 M & B Marine Products (MBMP) manufactures a variety of marine products in the Great Lakes region. Below are five years of financial data for the company. The company is a closely held business with a total of ten shareholders. The stock does not trade on any exchange. Year 1 Year 2 Year 3 Year 4 Year 5 $9,000,000$9,500,000 $8,600,000 $8,800,000 $9,300,000 Sales Cost of goods sold 5,600,000 Gross Profit Operating Expense Net Income 6300,0006.100,0006,200,0007.300,000 3,400,0003,200,000 2,500,000 2,600,0003,000,000 2,500,0002,650,000 2,250,000 2,300,000 2,650,000 38. Compute the value of the MBMP Company assuming the valuation expert uses the income statement method with average operating income as the most logical basis for measuring earnings. Also, assume the most appropriate price-earnings ratio of 7. The value of the JRB Company is (4 POINTS) a. $4,700,000. b. $3,290,000. c. $470,000. d. $6,714,444. e None of the answers above are correct.
Apr 06 2022 12:57 PM

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