Question
Balance Sheets As of December 31 2015 2014 Assets Current assets Cash $ 22,000 $ 18,000 Marketable securities 21,200 7,200 Accounts receivable (net) 53,000 45,000
Balance Sheets As of December 31 | ||||||
2015 | 2014 | |||||
Assets | ||||||
Current assets | ||||||
Cash | $ | 22,000 | $ | 18,000 | ||
Marketable securities | 21,200 | 7,200 | ||||
Accounts receivable (net) | 53,000 | 45,000 | ||||
Inventories | 138,000 | 146,000 | ||||
Prepaid items | 27,000 | 12,000 | ||||
Total current assets | 261,200 | 228,200 | ||||
Investments | 27,000 | 20,000 | ||||
Plant (net) | 270,000 | 255,000 | ||||
Land | 30,000 | 25,000 | ||||
Total assets | $ | 588,200 | $ | 528,200 | ||
Liabilities and Stockholders Equity | ||||||
Liabilities | ||||||
Current liabilities | ||||||
Notes payable | $ | 31,800 | $ | 13,500 | ||
Accounts payable | 133,800 | 120,000 | ||||
Salaries payable | 21,000 | 15,000 | ||||
Total current liabilities | 186,600 | 148,500 | ||||
Noncurrent liabilities | ||||||
Bonds payable | 100,000 | 100,000 | ||||
Other | 27,000 | 22,000 | ||||
Total noncurrent liabilities | 127,000 | 122,000 | ||||
Total liabilities | 313,600 | 270,500 | ||||
Stockholders equity | ||||||
Preferred stock, (par value $10, 4% cumulative, non-participating; 7,000 shares authorized and issued) | 70,000 | 70,000 | ||||
Common stock (No par; 50,000 shares authorized; 10,000 shares issued) | 70,000 | 70,000 | ||||
Retained earnings | 134,600 | 117,700 | ||||
Total stockholders equity | 274,600 | 257,700 | ||||
Total liabilities and stockholders equity | $ | 588,200 | $ | 528,200 | ||
REVNIK COMPANY Statements of Income and Retained Earnings For the Years Ended December 31 | ||||||
2015 | 2014 | |||||
Revenues | ||||||
Sales (net) | $ | 350,000 | $ | 330,000 | ||
Other revenues | 10,400 | 7,400 | ||||
Total revenues | 360,400 | 337,400 | ||||
Expenses | ||||||
Cost of goods sold | 175,000 | 139,000 | ||||
Selling, general, and administrative | 67,000 | 62,000 | ||||
Interest expense | 11,600 | 10,800 | ||||
Income tax expense | 83,000 | 82,000 | ||||
Total expenses | 336,600 | 293,800 | ||||
Net earnings (net income) | 23,800 | 43,600 | ||||
Retained earnings, January 1 | 117,700 | 81,000 | ||||
Less: Preferred stock dividends | 2,800 | 2,800 | ||||
Common stock dividends | 4,100 | 4,100 | ||||
Retained earnings, December 31 | $ | 134,600 | $ | 117,700 |
I need to find the
f. | Inventory turnover (beginning inventory at January 1, 2014, was $152,000) for 2015
Net margin Turnover of assets. (Use the total assets of 2014 as the average total assets to compute the 2014 Return on investment. (Use the total assets of 2014 as the average total assets to compute the 2014
Book value per share of common stock Price-earnings ratio (market price per share: 2014, $12.35; 2015, $13.70) Dividend yield on common stock.
Net margin Turnover of assets. (Use the total assets of 2014 as the average total assets to compute the 2014 Return on investment. (Use the total assets of 2014 as the average total assets to compute the 2014
Book value per share of common stock Price-earnings ratio (market price per share: 2014, $12.35; 2015, $13.70) Dividend yield on common stock. Need these answers |
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