Question
Additional information: The net cash provided by operating activities for 2022 was $190,200. The cash used for capital expenditures was $91,000. The cash used for
Additional information: The net cash provided by operating activities for 2022 was $190,200. The cash used for capital expenditures was $91,000. The cash used for dividends was $30,200. The weighted-average common shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2022. (We provide the results from 2021 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, e.g. 15.25 and Debt to assets ratio to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (i) Working capital. (2021: $160,500) (ii) Current ratio. (2021: 1.65:1) (iii) Free cash flow. (2021: $48,700) (iv) Debt to assets ratio. (2021: 31%) (v) Earnings per share. (2021: $3.15) (i) Working capital $enter a dollar amount (ii) Current ratio enter amount rounded to 2 decimal places :1 (iii) Free cash flow $enter a dollar amount (iv) Debt to assets ratio enter percentages rounded to 1 decimal place % (v) Earnings per share $enter a dollar amount rounded to 2 decimal places
The following are financial statements of Oriole Company.
Oriole Company Income Statement For the Year Ended December 31, 2022 | ||
---|---|---|
Net sales | $2,229,500 | |
Cost of goods sold | 1,015,000 | |
Selling and administrative expenses | 910,000 | |
Interest expense | 78,000 | |
Income tax expense | 66,500 | |
Net income | $ 160,000 |
Oriole Company Balance Sheet December 31, 2022 | ||
---|---|---|
Assets | ||
Current assets | ||
Cash | $ 61,500 | |
Debt investments | 89,000 | |
Accounts receivable (net) | 169,100 | |
Inventory | 226,400 | |
Total current assets | 546,000 | |
Plant assets (net) | 575,000 | |
Total assets | $ 1,121,000 | |
Liabilities and Stockholders Equity | ||
Current liabilities | ||
Accounts payable | $ 150,000 | |
Income taxes payable | 32,000 | |
Total current liabilities | 182,000 | |
Bonds payable | 249,585 | |
Total liabilities | 431,585 | |
Stockholders equity | ||
Common stock | 358,000 | |
Retained earnings | 331,415 | |
Total stockholders equity | 689,415 | |
Total liabilities and stockholders equity | $1,121,000 |
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