Kenley Corporation

Comparative Balance Sheets

June $30,2013$ and June $302014$

Assets $20132014$

Cash $12,50069,900$

Accounts Receivable $36,00031,000$

Inventory $51,40046,400$

Prepaid Expenses $2,6003,200$

Furniture $60,00055,000$

Accumulated Depr. $-$ Furniture $(5,000)(9,000)$

Total Assets $157,500196,500$

Liabilities & Stockholder$$s Equity

Accounts Payable $24,00023,000$

Income tax payable $4,8004,200$

Notes Payable $($Long term$)35,00037,000$

Common Stock $$10$ par value $90,000115,000$

Retained Earnings $3,70017,300$

Total Liabilities & S$/$E $157,500196,500$

Sales $284,000$

Cost of Goods Sold $206,000$

Gross Profit $78,000$

Operating Expenses $45,000$

Operating Income $33,000$

Interest expense $2,800$

Income before income taxes $30,200$

Income tax expense $12,300$

Net Income $17,900$

Paid Dividends of $$13,500$

Market Price is $$14\mathrm{.}85$

Problem $1.$

Find the ratios for $2014$:

$1.$ Current Ratio

$2.$ Quick Ratio

$3.$ Accounts Receivable Turnover

$4.$ Days to Collect

$5.$ Inventory Turnover

$6.$ Days on hand

$7.$ Payable Turnover

$8.$ Days to pay

$9.$ Debt to Equity Ratio

$10.$ Number of times interest Earned

$11.$ Profit Margin

$12.$ Assets Turnover

$13.$ Return on Assets

$14.$ Return on Equity

$15.$ Earnings per Share

$16.$ Price$/$Earnings Ratio

$17.$ Dividend Yield