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In this question regarding financial statment analysis I missed about half the answers and not sure where I went wrong, I attached my current answers
In this question regarding financial statment analysis I missed about half the answers and not sure where I went wrong, I attached my current answers plus a bad picture highlighting the one I got wrong. Thank you for any help I may receive on this!
Financial statements for Thornton Company follow. THORNTON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,000 21,600 57,000 142,000 26,000 270,600 22,000 290,000 29,000 $611,600 $ 20,000 7,600 49,000 150,000 11,000 237,600 15,000 275,000 24,000 $551,600 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock, (par value $10, 48 cumulative, non-participating; 6,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 40,000 113,800 25,000 178,800 $ 17,300 100,000 19,000 136,300 140,000 31,000 171,000 349,800 140,000 26,000 166,000 302,300 60,000 60,000 141,800 261,800 $611,600 60,000 60,000 129, 300 249,300 $551,600 2018 $370,000 8,200 378, 200 THORNTON COMPANY Statements of Income and Retained Earnings For the Years Ended December 31 2019 Revenues Sales (net) $390,000 Other revenues 11,200 Total revenues 401,200 Expenses Cost of goods sold 195,000 Selling, general, and administrative 71,000 Interest expense 12,800 Income tax expense 103,000 Total expenses 381,800 Net earnings (net income) 19,400 Retained earnings, January 1 129, 300 Less: Preferred stock dividends 2,400 Common stock dividends 4,500 Retained earnings, December 31 $141,800 151,000 66,000 12,000 102,000 331,000 47,200 89,000 2,400 4,500 $129,300 Required Calculate the following ratios for 2019 and 2018. Since 2017 numbers are not presented, do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet. a. Working capital. b. Current ratio. (Round your answers to 2 decimal places.) c. Quick ratio. (Round your answers to 2 decimal places.) d. Receivables turnover (beginning receivables at January 1, 2018, were $50,000). (Round your answers to 2 decimal places.) e. Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.) f. Inventory turnover (beginning inventory at January 1, 2018, was $156,000). (Round your answers to 2 decimal places.) g. Number of days to sell inventory. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.) h. Debt to assets ratio. (Round your answers to the nearest whole percent.) i. Debt to equity ratio. (Round your answers to 2 decimal places.) j. Number of times interest was earned. (Round your answers to 2 decimal places.) k. Plant assets to long-term debt. (Round your answers to 2 decimal places.) 1. Net margin. (Round your answers to 2 decimal places.) m. Turnover of assets. (Round your answers to 2 decimal places.) n. Return on investment. (Round your answers to 2 decimal places.) o. Return on equity. (Round your answers to 2 decimal places.) p. Earnings per share. (Round your answers to 2 decimal places.) q. Book value per share of common stock. (Round your answers to 2 decimal places.) r. Price-earnings ratio (market price per share: 2018, $12.55; 2019, $14.10). (Round your intermediate calculations and final answer to 2 decimal places.) s. Dividend yield on common stock. (Round your answers to 2 decimal places.) 2019 S $ 91,800 1.51 2018 101,300 1.74 0.57 0.56 7.36 times 6.98 times 52 days 50 days 2.67 times 137 days % 2.53 times 144 days % 1.34 1.21 a. Working capital b. Current ratio c. Quick ratio d. Receivables turnover e. Average days to collect accounts receivable f. Inventory turnover 9. Average days to sell inventory h. Debt to assets ratio i. Debt to equity ratio j. Number of times interest earned k. Plant assets to long-term debt 1. Net margin m. Asset turnover n. Return on investment Return equity p. Earnings per share q. Book value per share r. Price-earnings ratio s. Dividend yield times 1.70 times 1.66 12.48% 0.67 4.84% 0.64 4.48% 7.41% 1.70 per share 26.18 per share 8.29 3.19% 11.37% 18.93 % 4.48 per share 24.93 per share 2.80 3.59 % q. Book value per share of common stock. (Round your answers to 2 decimal places.) r. Price-earnings ratio (market price per share: 2018, $12.55; 2019, $14.10). (Round your intermedia calculations and final answer to 2 decimal places.) s. Dividend yield on common stock. (Round your answers to 2 decimal places.) & Answer is not complete. 2019 91,800 $ a. Working capital b Current ratio C. Quick ratio d Receivables turnover Average days to collect accounts receivable f. Inventory turnover 9 Average days to sell inventory h. Debt to assets ratio 1. Debt to equity ratio j Number of times interest earned k Plant assets to long-term debt 1. Net margin m Asset turnover n Return on investment Return on equity . Earnings per share 19 Book value per share Price-earnings ratio S Dividend yield 1.51 0.57 7.36 times 50 days 2.67 X times 137 days 1% % 1.34 times 1.70 4.84 % % 0.64 X 4.48 X % 2018 $ 101,300 1.74 0.56 6.98 X times 52 x days 2.53 X times 144 days 1% 1.21 times 1.66 12.48 X % 0.67 0 7.41 X % 1.70 per share 26.18 per share 8.29 3.19% 11.37 X % 18.93% 4.48 lper share 24.93 Xper share 2.80 3.59% aw Type here to searchStep by Step Solution
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