Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mulder Corporations comparative balance sheets are presented below. MULDER CORPORATION Balance Sheets December 31 2020 2019 Cash $9,540 $3,700 Accounts receivable 17,640 25,900 Inventory 11,880
Mulder Corporations comparative balance sheets are presented below.
MULDER CORPORATION Balance Sheets December 31 | ||||||
2020 | 2019 | |||||
Cash | $9,540 | $3,700 | ||||
Accounts receivable | 17,640 | 25,900 | ||||
Inventory | 11,880 | 7,200 | ||||
Land | 30,800 | 30,200 | ||||
Building | 70,200 | 70,200 | ||||
Accumulated depreciation | (15,400 | ) | (11,200 | ) | ||
Total | $124,660 | $126,000 | ||||
Accounts payable | $18,000 | $34,000 | ||||
Common stock ($5 par) | 68,000 | 68,000 | ||||
Retained earnings | 38,660 | 24,000 | ||||
Total | $124,660 | $126,000 |
Mulders 2020 income statement included net sales of $108,850, cost of goods sold of $57,240, and net income of $21,770. Compute the following ratios for 2020. (Round Current ratio, Acid-test ratio, Accounts receivable turnover, Inventory turnover, Asset turnover and Earnings per share to 2 decimal places, e.g. 15.25 or 15.25%. Round Debt to assets ratio to 1 decimal place, e.g. 15.2%. Round other answers to 0 decimal places, e.g. 15 or 15%.)
(a) | Current ratio | |||
(b) | Acid-test ratio | |||
(c1) | Accounts receivable turnover | |||
(c2) | Average collection period | days | ||
(d1) | Inventory turnover | |||
(d2) | Days in inventory | days | ||
(e) | Profit margin | % | ||
(f) | Asset turnover | |||
(g) | Return on assets | % | ||
(h) | Return on common stockholders equity | % | ||
(i) | Earnings per share | $ | ||
(j) | Payout ratio | % | ||
(k) | Debt to assets ratio | % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started