Kimmel, Survey of Accounting, le Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextboo Assignment > Open Assignment Problem 9-2 The comparative statements of Crane Company are presented here. CRANE COMPANY Income Statements For the Years Ended December 31 2017 Net sales $1,892,440 Cost of goods sold 1,060,440 Gross profit 832,000 Selling and administrative expenses 501,900 Income from operations 330,100 Other expenses and losses Interest expense 23,400 Income before income taxes 306,700 Income tax expense 93,400 Net income $ 213,300 2016 $1,752,400 1,007,900 744,500 480,900 263,600 21,400 242,200 74,400 $ 167,800 CRANE COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Type here to search o RH 9 Home Assignment Read, Study & Practice Assignment > Open Assignment CRANE COMPANY Balance Sheets December 31 2017 2016 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) $ 60,100 74,000 119,700 127,400 $ 64,200 50,000 104,700 116,900 335,800 534,300 $870,100 381,200 663,000 $1,044,200 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) $ 161,900 44,900 206,800 234,000 $147,300 43,400 190,700 214,000 404,700 440,800 290,000 300,000 Type here to search WileyPLUS Kimmel, Survey of Accounting, le Gradebook ORION Downloadable eText Home Assignment Read, Study & Practice Assignment > Open Assignment Plant assets (net) 663,000 $1,044,200 534,300 $870,100 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 $ 161,900 44,900 206,800 234,000 440,800 $147,300 43,400 190,700 214,000 404,700 290,000 313,400 603,400 $1,044,200 300,000 165,400 465,400 $870,100 All sales were on account. Net cash provided by operating activities for 2017 was $245,000. Cap Compute the following ratios for 2017. (Round current ratio, earnings per share and asset 365 days in calculation.) (a) Earnings per share $ (b) Return on common stockholders' equity Type here to search % 0 9 WileyPLUS Kimmel, Survey of Accounting, le Read, Study & Practice Assignment Home Gradebook ORION Downloadable eTex Assignment > Open Assignment Compute the following ratios for 2017. (Round current ratio, earnings per share and asse 365 days in calculatio .) (a) Earnings per share $ (b) Return on common stockholders' equity % (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days (9) Inventory turnover times (h) Days in inventory days 0 Times interest earned times 6) Asset turnover times (k) Debt to assets ratio % (1) Free cash flow S Click if you would like to Show Work for this question: Open Show Work