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Concord Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500
Concord Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500 772,700 Selling and administrative expenses 519,800 472,000 Income from operations 286,700 300,700 Other expenses and losses Interest expense 17,100 14,200 Income before income taxes 269,600 286,500 Income tax expense 80,015 77,500 Net income $ 189,585 $209,000 Concord Company Balance Sheets December 31 2022 2021 Assets Current assets Cash $60,600 $64,600 Debt investments (short-term) 69,100 50,300 Accounts receivable (net) 117,500 102,800 Inventory 123,600 115,600 Total current assets 370,800 333,300 Plant assets (net) 601,200 523,900 Total assets $972,000 $857,200 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,600 $144,800 Income taxes payable 43,100 42,200 Total current liabilities 203,700 187,000 Bonds payable 220,000 200,000 Total liabilities 423,700 387,000 Stockholders' equity Common stock ($5 par) 277,400 297,100 Retained earnings 270,900 173,100 Total stockholders' equity 548,300 470,200 Total liabilities and stockholders' equity $972,000 $857,200 All sales were on credit. Net cash provided by operating activities for 2022 was $243,000. Capital expenditures were $139,000, and cash dividends paid were $91,785. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 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) Current ratio (e) Accounts receivable turnover (f) Average collection period (g) Inventory turnover (h) Days in inventory (i) Times interest earned (i) Asset turnover (k) Debt to assets ratio (1) Free cash flow $ % % :1 times days times days times times %
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