13-23B

the following financial statements apply to bedford appliances inc.

assets year 4 year 3

current assets

cash 118000 91000

marketable securities 24000 18000

accts rec (net) 112000 108000

inventories 180000 192000

prepaid exp 27000 14000

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total current asset 461000 423000

investments 120000 120,000

plant (net) 260000 254000

other 81000 74000

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total assets 922000 871000

liabilities and stock holders

liabilities

current liabil

notes payable 20000 15000

act payable 80000 38000

other 66000 9000

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total current liabilities 166000 62000

noncurrent liabilities

bonds payable 110000 210000

other 26000 12000

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total noncurrent liab 136000 222000

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total liabilities 302000 284000

stockholders equity

preferred stock (100 par , 4% cum, non participating, 100 liquidating value; 1000 shares, authorized and issued, no dividens in arrears 100000 100000

coomon stock (no par; 50000 shares authorized ; 12000shared issues 240000 240000

retained earnings 280000 247000

total stockholders equity 620000 587000

total liabilities and stockholders equity 922000 871000

revenues

sales (net) 240000 230000

other revenues 7000 4000

total revenues 247000 234000

expenses

cost of goods sold 143000 130000

selling general and admin 46000 57000

bond interest expense 7000 10000

income tax expenses 8000 14000

total expenses 204000 211000

net income 43000 23000

ret earnings jan 1 247000 234000

less : preferred stock divid 4000 4000

coomon stock divid 6000 6000

retain earn dec 31 280000 247000

required - calculate the following ratios for year 4 by rounding to two decimal points

a. working capital

b. current ratio

c. quick ratio

d. accounts rec turnover

e. average days to collect accounts receivable

f. inentory turnover

g. aerage days to sell inventory

h. debt to assets ratio

i. debt to equity ratio

j. times interest was earned

k. plant assets to long term debt

l. net margin

m. turnover of assets

n. return on investment

o. return on equity

p. earnings per share

q. book value per share

r. price earnings ration market price : 13.26

s. dividend yield on common stock