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For the part A and part k, I don't know what did I do wrong. Blossom Company Income Statements For the Years Ended December 31
For the part A and part k, I don't know what did I do wrong.
Blossom Company Income Statements For the Years Ended December 31 2020 2019 Net sales $1,893,340 $1,753,300 Cost of goods sold 1,008,800 1,061,340 Gross profit 832,000 744,500 Selling and administrative expenses 481,800 502,800 Income from operations 329,200 262,700 Other expenses and losses Interest expense 23,700 21,700 Income before income taxes 305,500 241,000 Income tax expense 93,700 74,700 $211,800 $166,300 Net income Blossom Company Balance Sheets December 31 2019 Assets 2020 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 120,600 105,600 127,700 Inventory 117,200 Total current assets 382,400 337,000 Plant assets (net) 664,000 535,300 $1,046,400 $872,300 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $162,800 $148,200 45,200 43,700 Income taxes payable Total current liabilities 208,000 191,900 215,000 Bonds payable 235,000 406,900 Total liabilities 443,000 Stockholders' equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total stockholders' equity 603,400 465,400 $1,046,400 $872,300 Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $241,000. Capital expenditures were $135,000, and cash dividends were $63,800. All sales were on account. Net cash provided by operating activities for 2020 was $241,000. Capital expenditures were $135,000, and cash dividends were $63,800. Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) 3.65 (a) Earnings per share (b) Return on common stockholders' equity 39.63 % (c) Return on assets 22.08 % (d) Current ratio 1.84 :1 Accounts receivable turnover (e) 16.74 times (f) Average collection period 21.8 days (g) Inventory turnover 8.67 times (h) Days in inventory 42.15 days (i) Times interest earned 13.89 times (i) Asset turnover 1.97 times (k) Debt to assets ratio 0.22 % wwwwwww. 42200 (1) Free cash flow Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT Question Attempts: 3 of 8 used SAVE FOR LATER SUBMIT ANSWER 3.65 (a) Earnings per share (b) Return on common stockholders' equity 39.63 % (c) Return on assets 22.08 % (d) Current ratio :1 1.84 (e) Accounts receivable turnover 16.74 times (f) 21.8 days Average collection period (g) Inventory turnover 8.67 times (h) Days in inventory 42.15 days (i) Times interest earned 13.89 times (i) Asset turnover 1.97 times (k) Debt to assets ratio 0.22 % (1) Free cash flow 42200 XStep by Step Solution
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