Question
Lydex Company Comparative Balance Sheet This YearLast Year Assets Current assets: Cash $940,000$1,200,000 Marketable securities 0300,000 Accounts receivable, net 2,620,0001,720,000 Inventory 3,580,0002,300,000 Prepaid expenses 250,000190,000
Lydex Company
Comparative Balance Sheet
This YearLast Year
Assets
Current assets:
Cash $940,000$1,200,000
Marketable securities 0300,000
Accounts receivable, net 2,620,0001,720,000
Inventory 3,580,0002,300,000
Prepaid expenses 250,000190,000
Total current assets 7,390,0005,710,000
Plant and equipment, net 9,480,000 9,030,000
Total assets$16,870,000$14,740,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities$3,880,000$2,940,000
Note payable, 10% 3,660,0003,060,000
Total liabilities 7,540,0006,000,000
Stockholders' equity:
Common stock, $75 par value 7,500,0007,500,000
Retained earnings 1,830,0001,240,000
Total stockholders' equity 9,330,0008,740,000
Total liabilities and stockholders' equity $16,870,000 $14,740,000
Lydex Company
Comparative Income Statement and Reconciliation
This YearLast Year
Sales (all on account)$15,840,000$13,380,000
Cost of goods sold 12,672,00010,035,000
Gross margin 3,168,0003,345,000
Selling and administrative expenses 1,473,4291,596,000
Net operating income 1,694,5711,749,000
Interest expense 366,000306,000
Net income before taxes 1,328,5711,443,000
Income taxes (30%) 398,571432,900
Net income 930,0001,010,100
Common dividends 340,000505,050
Net income retained 590,000505,050
Beginning retained earnings 1,240,000734,950
Ending retained earnings$1,830,000$1,240,000
Current ratio2.4
Acid-test ratio1.2
Average collection period40 days
Average sale period60 days
Return on assets9.1 %
Debt-to-equity ratio0.69
Times interest earned ratio5.7
Price-earnings ratio10
Lydex Company
Common-Size Balance Sheets
This YearLast Year
Assets
Current assets:
Cash%%
Marketable securities0.0
Accounts receivable, net
Inventory
Prepaid expenses
Total current assets0.00.0
Plant and equipment, net
Total assets0.0%0.0%
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities%%
Note payable, 10%
Total liabilities 0.00.0
Stockholders' equity:
Common stock, $75 par value
Retained earnings
Total stockholders' equity0.00.0
Total liabilities and equity0.0%0.0%
Please show me how to find the cash percentage in the first column, I can figure out the rest.
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
