Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with letters J, K, and I. Thank you! The comparative statements of Wildhorse Co. are presented here: Wildhorse Co. Income Statements For

image text in transcribedimage text in transcribed

I need help with letters J, K, and I.

Thank you!

The comparative statements of Wildhorse Co. are presented here: Wildhorse Co. Income Statements For the Years Ended December 31 2020 Net sales $1.892,340 Cost of goods sold 1,060,340 Gross profit 832,000 Selling and administrative expenses 501,800 Income from operations 330,200 Other expenses and losses Interest expense 23,700 Income before income taxes 306,500 Income tax expense 93,700 Net income $212,800 2019 $1,752,300 1,007,800 744,500 480,800 263.700 21.700 242,000 74,700 $167,300 2020 2019 $60,100 74,000 119,600 127,700 381,400 663,000 $1,044,400 $64,200 50,000 104,600 117,200 336,000 534,300 $870,300 Wildhorse Co. Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $161,800 45,200 207,000 234,000 441,000 $147,200 43,700 190,900 214,000 404,900 290,000 313,400 603,400 $1,044,400 300,000 165,400 465,400 $870,300 All sales were on account. Net cash provided by operating activities for 2020 was $231,000. Capital expenditures were $137,000, and cash dividends were $64.800. Compute the following ratios for 2020. (Round free cash flow to O 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.) (a) $ 3.61 (b) Earnings per share Return on common stockholders' equity Return on assets 39.82 % (c) 22.23 % (d) Current ratio 1.84 :1 (e) 16.88 times Accounts receivable turnover Average collection period Inventory turnover 21.62 days 8.66 times (h) 42.15 days Days in inventory Times interest earned (i) 13.93 times (1) Asset turnover times (k) Debt to assets ratio % (1) Free cash flow $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

More Books

Students also viewed these Accounting questions

Question

Is there really a global citizen? Support your answer.

Answered: 1 week ago

Question

Language in Context?

Answered: 1 week ago