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Alexander Company Comparative Balance Sheets December 31, 2021 and December 13, 2022 Assets 2021 2022 Difference Cash 40,000 334,000 294,000 Accounts Receivable 255,000 215,000 (40,000)
Alexander Company | |||
Comparative Balance Sheets | |||
December 31, 2021 and December 13, 2022 | |||
Assets | 2021 | 2022 | Difference |
Cash | 40,000 | 334,000 | 294,000 |
Accounts Receivable | 255,000 | 215,000 | (40,000) |
Inventory | 430,000 | 350,000 | (80,000) |
Prepaid Expenses | 2,000 | 1,200 | (800) |
Plant Property & Equipment | 1,104,000 | 1,256,000 | 152,000 |
Accumulated Depr - Equipment | (280,000) | (366,000) | (86,000) |
Total Assets | 1,551,000 | 1,790,200 | 239,200 |
Liabilities & Stockholder's Equity | |||
Accounts Payable | 74,000 | 118,000 | 44,000 |
Notes Payable (Current) | 160,000 | 60,000 | (100,000) |
Accrued Liabilities | 51,000 | 67,000 | 16,000 |
Mortgage Payable | 560,000 | 720,000 | 160,000 |
Common Stock $10 par value | 400,000 | 400,000 | - |
Retained Earnings | 306,000 | 425,200 | 119,200 |
Total Liabilities & S/E | 1,551,000 | 1,790,200 | 239,200 |
Alexander Company | |
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Income Statement | |
December 31, 2022 | |
Sales | 3,729,000 |
Cost of Goods Sold | 1,127,800 |
Gross Profit | 2,601,200 |
Operating Expenses | 1,949,400 |
Operating Income | 651,800 |
Interest expense | 459,000 |
Income before income taxes | 192,800 |
Income tax expense | 54,600 |
Net Income | 138,200 |
Additional information: | |
1. Paid dividends of $76,000 | |
2. Market price - $435.00 |
Find the following ratios for 2022: 1. Current Ratio 2. Quick Ratio 3. Accounts Receivable Turnover 4. Days to Collect 5. Inventory Turnover 6. Days on hand 7. Payable Turnover 8. Days to pay 9. Debt to Equity Ratio 10. Number of times interest Earned 11. Profit Margin 12. Assets Turnover 13. Return on Assets 14. Return on Equity 15. Earnings per Share 16. Price/Earnings Ratio 17. Dividend Yield | |||
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