Compute the following ratios for 2022. (Round earnings per share, current ratio and asset turnover to 2 decimal places, e.g. 1.83. Round return on common stockholders’ equity, return on assets, accounts receivable turnover, average collection period, inventory turnover, days in inventory, times interest earned and debt to assets ratio to 1 decimal place, e.g. 1.8 or 1.8%. Use 365 days for calculation.) (a) Earnings per share $enter Earnings per share in dollars rounded to 2 decimal places (b) Return on common stockholders’ equity enter Return on common stockholders’ equity in percentages rounded to 1 decimal place % (c) Return on assets enter Return on assets in percentages rounded to 1 decimal place % (d) Current ratio enter a number for current ratio rounded to 2 decimal places :1 (e) Accounts receivable turnover enter a number for accounts receivable turnover in times rounded to 1 decimal place times (f) Average collection period enter a number for Average collection period in days rounded to 0 decimal places days (g) Inventory turnover enter a number for inventory turnover in times rounded to 1 decimal place times (h) Days in inventory enter a number of days in inventory rounded to 0 decimal places days (i) Times interest earned enter a number for times interest earned rounded to 1 decimal place times (j) Asset turnover enter a number for asset turnover in times rounded to 2 decimal places times (k) Debt to assets ratio enter Debt to assets ratio in percentages rounded to 1 decimal place % (l) Free cash flow $enter free cash flow in dollars rounded to 0 decimal place
Compute the following ratios for 2022. (Round earnings per share, current ratio and asset turnover to 2 decimal places, e.g. 1.83. Round return on common stockholders’ equity, return on assets, accounts receivable turnover, average collection period, inventory turnover, days in inventory, times interest earned and debt to assets ratio to 1 decimal place, e.g. 1.8 or 1.8%. Use 365 days for calculation.) (a) Earnings per share $enter Earnings per share in dollars rounded to 2 decimal places (b) Return on common stockholders’ equity enter Return on common stockholders’ equity in percentages rounded to 1 decimal place % (c) Return on assets enter Return on assets in percentages rounded to 1 decimal place % (d) Current ratio enter a number for current ratio rounded to 2 decimal places :1 (e) Accounts receivable turnover enter a number for accounts receivable turnover in times rounded to 1 decimal place times (f) Average collection period enter a number for Average collection period in days rounded to 0 decimal places days (g) Inventory turnover enter a number for inventory turnover in times rounded to 1 decimal place times (h) Days in inventory enter a number of days in inventory rounded to 0 decimal places days (i) Times interest earned enter a number for times interest earned rounded to 1 decimal place times (j) Asset turnover enter a number for asset turnover in times rounded to 2 decimal places times (k) Debt to assets ratio enter Debt to assets ratio in percentages rounded to 1 decimal place % (l) Free cash flow $enter free cash flow in dollars rounded to 0 decimal place
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 4RE: Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020....
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Question
The comparative statements of Oriole Company are presented here:
ORIOLE COMPANY
Income Statements For the Years Ended December 31 |
||||
---|---|---|---|---|
2022
|
2021
|
|||
Net sales |
$1,895,640
|
$1,755,600
|
||
Cost of goods sold |
1,063,640
|
1,011,100
|
||
Gross profit |
832,000
|
744,500
|
||
Selling and administrative expenses |
505,100
|
484,100
|
||
Income from operations |
326,900
|
260,400
|
||
Other expenses and losses | ||||
Interest expense |
23,600
|
21,600
|
||
Income before income taxes |
303,300
|
238,800
|
||
Income tax expense |
93,600
|
74,600
|
||
Net income |
$209,700
|
$164,200
|
ORIOLE COMPANY
Balance Sheets December 31 |
||||
---|---|---|---|---|
Assets
|
2022
|
2021
|
||
Current assets | ||||
Cash |
$60,100
|
$64,200
|
||
Debt investments (short-term) |
74,000
|
50,000
|
||
Accounts receivable (net) |
122,900
|
107,900
|
||
Inventory |
127,600
|
117,100
|
||
Total current assets
|
384,600
|
339,200
|
||
Plant assets (net) |
659,000
|
530,300
|
||
Total assets |
$1,043,600
|
$869,500
|
||
Liabilities and
|
||||
Current liabilities | ||||
Accounts payable |
$165,100
|
$150,500
|
||
Income taxes payable |
45,100
|
43,600
|
||
Total current liabilities
|
210,200
|
194,100
|
||
Bonds payable |
230,000
|
210,000
|
||
Total liabilities |
440,200
|
404,100
|
||
Stockholders’ equity | ||||
Common stock ($5 par) |
290,000
|
300,000
|
||
|
313,400
|
165,400
|
||
Total stockholders’ equity
|
603,400
|
465,400
|
||
Total liabilities and stockholders’ equity |
$1,043,600
|
$869,500
|
All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital expenditures were $136,000, and cash dividends paid were $61,700.
Compute the following ratios for 2022. (Round earnings per share,
(a) | Earnings per share |
$enter Earnings per share in dollars rounded to 2 decimal places
|
|||
---|---|---|---|---|---|
(b) | Return on common stockholders’ equity |
enter Return on common stockholders’ equity in percentages rounded to 1 decimal place
|
% | ||
(c) | Return on assets |
enter Return on assets in percentages rounded to 1 decimal place
|
% | ||
(d) | Current ratio |
enter a number for current ratio rounded to 2 decimal places
|
:1 | ||
(e) | Accounts receivable turnover |
enter a number for accounts receivable turnover in times rounded to 1 decimal place
|
times | ||
(f) | Average collection period |
enter a number for Average collection period in days rounded to 0 decimal places
|
days | ||
(g) | Inventory turnover |
enter a number for inventory turnover in times rounded to 1 decimal place
|
times | ||
(h) | Days in inventory |
enter a number of days in inventory rounded to 0 decimal places
|
days | ||
(i) | Times interest earned |
enter a number for times interest earned rounded to 1 decimal place
|
times | ||
(j) | Asset turnover |
enter a number for asset turnover in times rounded to 2 decimal places
|
times | ||
(k) | Debt to assets ratio |
enter Debt to assets ratio in percentages rounded to 1 decimal place
|
% | ||
(l) |
$enter free cash flow in dollars rounded to 0 decimal place
|
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