Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets Cash Accounts receivable Inventories Prepaid expenses Plant and equipment (net) Total assets Accounts

 

Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets Cash Accounts receivable Inventories Prepaid expenses Plant and equipment (net) Total assets Accounts payable Long-term bonds payable Preferred stock, 10%, $100 par Common stock, no par Retained earnings Total liabilities and equities Sales, net Less cost of goods sold Gross margin Less operating expenses Net operating income Interest expense Net income before taxes Less income taxes Net income Income Statement December 31, 2011 2011 $ 128,000 472,000 797,000 81,000 2.655.000 $4.133.000 F. G. H. L J. S 198,000 1,000,000 450,000 1,800,000 685,000 $4.133.000 2010 $ 201,000 438,000 673,000 92,000 A. Current Ratio B. Quick Ratio C. Inventory Tumover in Days D. Times interest earned ratio. Debt Debt to equity ratio. Return on Sales Return on Total Assets Return on Common Stockholders' Equity Earnings per share 2.428.000 $3.832.000 $ 280,600 1,000,000 450,000 1,800,000 301,400 $3.832.000 $5,400,000 3,240,000 2,160,000 1.010.000 1,150,000 80,000 There were 72,000 shares of common stock outstanding throughout the 2011. Dividends on common stock amounted to $320,400 and dividends on preferred stock amounted to $45,000. The market value of a share of common stock was $54 at the end of 2011. The income tax rate is 30%. 1.070,000 321,000 $ 749.000 Refer to the preceding financial statements and other information. Calculate the following ratios for 2011.

Step by Step Solution

3.44 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

Sr No A B D E Inventory Turnover in Days F G H J Current Ratio Quick Ratio Ratios Times ... 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

Managerial Accounting

Authors: Susan V. Crosson, Belverd E. Needles

8th Edition

9780618777174, 618777180, 618777172, 978-0618777181

More Books

Students also viewed these Accounting questions