Question
Current Attempt in Progress The comparative statements of Sandhill Co. are presented here. SANDHILL CO. Income Statements For the Years Ended December 31 2017 2016
Current Attempt in Progress
The comparative statements of Sandhill Co. are presented here.
SANDHILL CO. Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2017 | 2016 | |||
Net sales | $1,896,740 | $1,756,700 | ||
Cost of goods sold | 1,064,740 | 1,012,200 | ||
Gross profit | 832,000 | 744,500 | ||
Selling and administrative expenses | 506,200 | 485,200 | ||
Income from operations | 325,800 | 259,300 | ||
Other expenses and losses | ||||
Interest expense | 23,200 | 21,200 | ||
Income before income taxes | 302,600 | 238,100 | ||
Income tax expense | 93,200 | 74,200 | ||
Net income | $ 209,400 | $ 163,900 |
SANDHILL CO. Balance Sheets December 31 | ||||
---|---|---|---|---|
Assets | 2017 | 2016 | ||
Current assets | ||||
Cash | $ 60,100 | $ 64,200 | ||
Debt investments (short-term) | 74,000 | 50,000 | ||
Accounts receivable | 124,000 | 109,000 | ||
Inventory | 127,200 | 116,700 | ||
Total current assets | 385,300 | 339,900 | ||
Plant assets (net) | 664,000 | 535,300 | ||
Total assets | $1,049,300 | $875,200 | ||
Liabilities and Stockholders Equity | ||||
Current liabilities | ||||
Accounts payable | $ 166,200 | $151,600 | ||
Income taxes payable | 44,700 | 43,200 | ||
Total current liabilities | 210,900 | 194,800 | ||
Bonds payable | 235,000 | 215,000 | ||
Total liabilities | 445,900 | 409,800 | ||
Stockholders equity | ||||
Common stock ($5 par) | 290,000 | 300,000 | ||
Retained earnings | 313,400 | 165,400 | ||
Total stockholders equity | 603,400 | 465,400 | ||
Total liabilities and stockholders equity | $1,049,300 | $875,200 |
All sales were on account. Net cash provided by operating activities for 2017 was $229,000. Capital expenditures were $137,000, and cash dividends were $61,400. Compute the following ratios for 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a) | Earnings per share | $Enter earnings per share in dollars | |||
(b) | Return on common stockholders equity | Enter return on common stockholders' equity in percentages | % | ||
(c) | Return on assets | Enter return on assets in percentages | % | ||
(d) | Current ratio | Enter the current ratio value | :1 | ||
(e) | Accounts receivable turnover | Enter accounts receivable turnover in times | times | ||
(f) | Average collection period | Enter average collection period in days | days | ||
(g) | Inventory turnover | Enter inventory turnover in times | times | ||
(h) | Days in inventory | Enter the number of days in inventory | days | ||
(i) | Times interest earned | Enter times interest earned | times | ||
(j) | Asset turnover | Enter asset turnover in times | times | ||
(k) | Debt to assets ratio | Enter debt to assets ratio in percentages | % | ||
(l) | Free cash flow | $Enter free cash flow in dollars |
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