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Problem 9-23Ratio analysis

The following financial statements apply to Robin Company.

CHECK FIGURES

d. 2015: $0.72

k. 2014: 5.47 times

(Edmonds 356)

Edmonds, Thomas, Christopher Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay. Surveys of Accounting, 4th Edition. McGraw-Hill Learning Solutions, 01/2014. VitalBook file.

The citation provided is a guideline. Please check each citation for accuracy before use.

Revenues Net sales Other revenues Total revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Earnings from continuing operations before extraordinary items Extraordinary gain (net of $3,000 tax) Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (50,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Page 357 Required $210,000 4,000 214,000 $175,000 5,000 180,000 126,000 21,000 11,000 3,000 21,000 182,000 32,000 4,000 $ 36,000 103,000 19,000 10,000 3,000 18,000 153,000 27,000 0 $ 27,000 $ 4,000 1,000 35,000 100,000 3,000 143,000 105,000 20,000 $268,000 $ 8,000 1,000 32,000 96,000 2,000 139,000 105,000 0 $244,000 $ 40,000 17,000 57,000 66,000 123,000 $ 54,000 15,000 69,000 67,000 136,000 115,000 30,000 145,000 $268,000 115,000 (7,000) 108,000 $244,000 Calculate the following ratios for 2014 and 2015. When data limitations prohibit computing averages, use year-end balances in your calculations. Round computations to two decimal points. a.Net margin b.Return on investment c.Return on equity d.Earnings per share e.Price-earnings ratio (market prices at the end of 2014 and 2015 were $5.94 and $4.77, respectively) f.Book value per share of common stock g.Times interest earned h.Working capital i.Current ratio j.Quick (acid-test) ratio k.Accounts receivable turnover l.Inventory turnover m.Debt to equity ratio n.Debt to assets ratio (Edmonds 356-357) Edmonds, Thomas, Christopher Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay. Surveys of Accounting, 4th Edition. McGraw-Hill Learning Solutions, 01/2014. VitalBook file. The citation provided is a guideline. Please check each citation for accuracy before use. 2015 a.) Net Margin b.) Return on Investment c.) Return on Equity d.) Earnings per Share e.) Price-Earnings Ratio f.) Book Value per Share g.) Times Interest Earned h.) Working Capital i.) Current Ratio j.) Quick (Acid-Test) Ratio k.) Accounts Receivable Turnover 2014 l.) Inventory Turnover m.) Debt to Equity n.) Debt to Assets The study review problem on page 346 has example computations. Remember, average is computed by adding the 2 years then dividing by 2