Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ASAP. The comparative statements of Crane Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations

ASAP. The comparative statements of Crane Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Crane Company Income Statements For the Years Ended December 31 Interest expense Income before income taxes Income tax expense Net income iscers 2022 $1,813,600 1,013,400 800,200 514,800 285,400 17.400 268,000 78,019 $ 189,981 Crane Company Balance Sheets December 31 2022 2021 $1,746.200 990.000 756,200 474,000 282,200 14,400 267,800 77,600 $190.200

image text in transcribed

image text in transcribed

image text in transcribed

Stockholders' equity All sales were on credit. Net cash provided by operating activities for 2022 was $230,000. Capital expenditures were $136,000, and cash dividends paid were $87,881 Compute the following ratios for 2022. (Round Eamings per share, Current ratio and Asset turmover to 2 decimal ploces, eg. 1.65 or 1.651 , and all ocher answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Currentratio (e) Accounts receivable turnover (f) Average collection period (8) Inventory turnover (h) Daysininventory and all other onsues to 1 decimal place, es. 4.8 or 6.6 Use 365 days for calculation) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Currentratio (e) Accounts receivable turnover (f) Average collection period (g) Inventory tumover (h) Days in inventory (i) Tmes interest earned (j) Asset turnover (k) Debt to assets ratio (I) Freecash flow

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

9th edition

1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343

More Books

Students also viewed these Accounting questions

Question

=+ What scenarios could draw the audience in?

Answered: 1 week ago

Question

=+ What graphics could stop the viewer?

Answered: 1 week ago