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Financial statements for Revnik Company follow. REVNIK COMPANY Balance Sheets As of December 31 2015 2014 Assets Current assets Cash $ 16,000 $ 12,000 Marketable
Financial statements for Revnik Company follow. |
REVNIK COMPANY Balance Sheets As of December 31 | ||||||
2015 | 2014 | |||||
Assets | ||||||
Current assets | ||||||
Cash | $ | 16,000 | $ | 12,000 | ||
Marketable securities | 20,000 | 6,000 | ||||
Accounts receivable (net) | 54,000 | 46,000 | ||||
Inventories | 135,000 | 143,000 | ||||
Prepaid items | 25,000 | 10,000 | ||||
Total current assets | 250,000 | 217,000 | ||||
Investments | 27,000 | 20,000 | ||||
Plant (net) | 270,000 | 255,000 | ||||
Land | 29,000 | 24,000 | ||||
Total assets | $ | 576,000 | $ | 516,000 | ||
Liabilities and Stockholders Equity | ||||||
Liabilities | ||||||
Current liabilities | ||||||
Notes payable | $ | 17,000 | $ | 6,000 | ||
Accounts payable | 113,800 | 100,000 | ||||
Salaries payable | 21,000 | 15,000 | ||||
Total current liabilities | 151,800 | 121,000 | ||||
Noncurrent liabilities | ||||||
Bonds payablew | 100,000 | 100,000 | ||||
Other | 32,000 | 27,000 | ||||
Total noncurrent liabilities | 132,000 | 127,000 | ||||
Total liabilities | 283,800 | 248,000 | ||||
Stockholders equity | ||||||
Preferred stock, (par value $10, 4% cumulative, non-participating; 8,000 shares authorized and issued) | 80,000 | 80,000 | ||||
Common stock (No par; 50,000 shares authorized; 10,000 shares issued) | 80,000 | 80,000 | ||||
Retained earnings | 132,200 | 108,000 | ||||
Total stockholders equity | 292,200 | 268,000 | ||||
Total liabilities and stockholders equity | $ | 576,000 | $ | 516,000 | ||
REVNIK COMPANY Statements of Income and Retained Earnings For the Years Ended December 31 | ||||||
2015 | 2014 | |||||
Revenues | ||||||
Sales (net) | $ | 230,000 | $ | 210,000 | ||
Other revenues | 8,000 | 5,000 | ||||
Total revenues | 238,000 | 215,000 | ||||
Expenses | ||||||
Cost of goods sold | 120,000 | 103,000 | ||||
Selling, general, and administrative | 55,000 | 50,000 | ||||
Interest expense | 8,000 | 7,200 | ||||
Income tax expense | 23,000 | 22,000 | ||||
Total expenses | 206,000 | 182,200 | ||||
Net earnings (net income) | 32,000 | 32,800 | ||||
Retained earnings, January 1 | 108,000 | 83,000 | ||||
Less: Preferred stock dividends | 3,200 | 3,200 | ||||
Common stock dividends | 4,600 | 4,600 | ||||
Retained earnings, December 31 | $ | 132,200 | $ | 108,000 |
What are the debt to equity ratio, Plant assets to long term debt, asset turnover, return on investment, return on equity, and book value per share for both years.
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