Question
CARLA VISTA CO. Income Statements For the Years Ended December 31 2022 2021 Net sales $2,215,400 $2,065,000 Cost of goods sold 1,227,000 1,207,200 Gross profit
CARLA VISTA CO. Income Statements For the Years Ended December 31 2022 2021 Net sales $2,215,400 $2,065,000 Cost of goods sold 1,227,000 1,207,200 Gross profit 988,400 857,900 Selling and administrative expenses 600,000 574,800 Income from operations 388,400 283,000 Other expenses and losses Interest expense 26,400 24,000 Income before income taxes 362,000 259,000 Income tax expense 108,600 77,700 Net income $253,400 $181,300 CARLA VISTA CO. Balance Sheets December 31 2022 2021 Assets Current assets Cash $72,120 $77,040 Debt investments (short-term) 88,900 60,000 Accounts receivable 141,360 123,360 Inventory 151,200 138,600 Total current assets 453,490 399,000 Plant assets (net) 778,900 624,360 Total assets $1,232,280 $1,023,360 Liabilities and Stockholders' Equity Current liabilities Accounts payable $192,000 $174,480 Income taxes payable 52,200 50,400 Total current liabilities 244,200 224,880 Bonds payable 264,000 240,000 Total liabilities 508,200 464,980 Stockholders' equity Common stock ($5 par) 348,000 360,000 Retained earnings 376,080 198,480 Total stockholders' equity 724,000 558,480 Total liabilities and stockholders' equity $1,232,280 $1,023,360 All sales were on account. Net cash provided by operating activities for 2022 was $264,000. Capital expenditures were $163,200, and cash dividends were $75,900. Compute the following ratios for 2022. (Round all answers to 2 decimal places, eg. 1.83 or 1.83%) (a) Earnings per share $ (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio :1 (i) Accounts receivable turnover (f) Average collection period (4) Inventory turnover Days in inventory Times interest earned times days times days times Asset turnover times (k) Debt to assets ratio 96 (1) Free cash flow $ -Taythank and Media
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