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Can you help me solve questions 1-19 The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock
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The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $67 on December 31, 2016 Blige Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2016 and 2015 2016 2015 $2,398,100 Retained earnings, January1 $2,823,100 Add net income for year 660,000 491,200 Total $2,889,300 $3,483,100 Deduct dividends On preferred stock $8,400 $8,400 57,800 57,800 On common stock Total $66,200 $66,200 $3,416,900 $2,823,100 Retained earnings, December 31 Blige Inc Blige Inc. Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Sales $3,829,650 $3,523,300 12,380 19,050 Sales returns and allowances Sales $3,810,600 $3,510,920 Cost of goods sold 1,357,800 1,249,180 Gross profit $2,452,800 $2,261,740 $820,750 Selling expenses $1,018,650 699,150 Administrative expenses 598,250 1,616,900 Total operating expenses 1,519,900 Income from operations $932,900 $644,840 Other income 49,100 41,160 $982,000 $686,000 232,000 Other expense (interest) 128,000 Income before income tax $750,000 $558,000 66,800 Income tax expense 90,000 $660,000 $491,200 Net income Blige Indc Comparative Balance Sheet December 31, 2016 and 2015 Dec. 31, 2016 Dec. 31, 2015 Assets Current assets $479,860 $732,880 Cash 726,270 Temporary investments 1,214,480 635,100 Accounts receivable (net) 678,900 394,200 Inventories 511,000 146,580 Prepaid expenses 90,778 $3,123,240 Total current assets $2,486,808 2,777,612 Long-term investments 1,623,412 3,190,000 Property, plant, and equipment (net) 2,871,000 $8,454,420 $7,617,652 Total assets Liabilities Current liabilities $857,520 $1,914,552 Long-term liabilities Mortgage note payable, 8%, due 2021 $1,300,000 $0 Bonds payable, 8%, due 2017 1,600,000 1,600,000 Total long-term liabilities $2,900,000 $1,600,000 $3,757,520 Total liabilities $3,514,552 Stockholders' Equity Preferred $0.7 stock, $50 par $600,000 $600,000 Common stock, $10 par 680,000 680,000 Retained earnings 3,416,900 2,823,100 Total stockholders' equity $4,696,900 $4,103,100 Total liabilities and stockholders' equity $8,454,420 $7,617,652 Required Determine the following measures for 2016, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables days 6. Inventory turnover 7. Number of days' sales in inventory days 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Number of times interest charges are earned 11. Number of times preferred dividends are earned 12. Ratio of sales to assets 13. Rate earned on total assets 14. Rate earned on stockholders' equity 15. Rate earned on common stockholders' equity 16. Earnings per share on common stock 17. Price-earnings ratio 18. Dividends per share of common stock 19. Dividend yield
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