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9. The financial statements ofHainzCompany appear below: HAINZCOMPANY Comparative Balance Sheet December 31, Assets 2020 2019 Cash $20,000 $41,000 Short-term investments 28,500 70,000 Accounts receivable

9. The financial statements ofHainzCompany appear below:

HAINZCOMPANY Comparative Balance Sheet December 31,
Assets 2020 2019
Cash $20,000 $41,000
Short-term investments 28,500 70,000
Accounts receivable (net) 41,500 31,500
Inventory 60,400 70,100
Property, plant and equipment (net) 275,000 305,000
Total assets $425,000 $517,000
Liabilities and stockholders' equity
Accounts payable $15,740 $30,800
Short-term notes payable 44,500 92,500
Bonds payable 89,000 178,000
Common stock 150,000 150,000
Retained earnings 126,160 66,300
Total liabilities and stockholders' equity $425,400 $517,600

HAINZCOMPANY Income Statement For the Year Ended December 31, 2020
Net sales $470,000
Cost of goods sold 300,800
Gross profit 169,200
Expenses
Operating expenses $32,000
Interest expense 18,400
Total expenses 50,400
Income before income taxes 118,800
Income tax expense 35,640
Net income $83,160

Additional information:

a. Cash dividends of $23,300were declared and paid in 2020.
b. Weighted-average number of shares of common stock outstanding during 2020 was34,650shares.
c. Market value of common stock on December 31, 2020, was $24per share.

Using the financial statements and additional information, compute the following ratios forHainzCompany for 2020.(Use 365 days for calculation.)

  1. Current ratio :1
  2. Return on common stockholders' equity %
  3. Price-earnings ratio times
  4. Accounts receivable turnover times
  5. Times interest earned times
  6. Profit margin %
  7. Days in inventory days
  8. Payout ratio %
  9. Return on assets %

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