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Need help with the red boxes Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1.917.800 $ 1,753.700 Cost of
Need help with the red boxes
Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1.917.800 $ 1,753.700 Cost of goods sold 1006, BOO 972,000 Gross profit 811,000 781,700 Selling and administrative expenses 511,800 476,400 Income from operations 299,200 305,300 Other expenses and losses Interest expense 17,400 13.900 Income before income taxes 281,800 291,400 Income tax expense 79,255 77,900 Net income $ 202,545 $ 213,500 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $ 60,700 $63,400 Debt investments (short-term) 68,000 50,900 Accounts receivable 117,800 101,200 Inventory 122.000 114,400 Total current assets 368,500 329,900 Plant assets (net) 595,000 521,600 Total assets $ 963,500 $951,500 Current liabilities Accounts payable $160,100 $ 144,700 43,300 41,400 Income taxes payable Total current liabilities 203,400 136,100 Bonds payable 220,000 200.000 Total liabilities 422.400 386,100 Stockholders' equity Common stock (55 par 5 Retained earnings 278,000 300,700 262,100 164,700 Total stockholders' equity 540, 100 465,400 Total liabilities and stockholders' equity $ 963,500 $ 851,500 All sales were on account. Net cash provided by operating activities for 2020 was $247,000. Capital expenditures were $ 133,000, and cash dividends were $ 105,145. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset tumover to 2 decimal places, er 1.65 or 1.65:1, and all other answers to 1 decimal place, es 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share 3.37 [b] Return on common stockholders' equity 39.3 % (c) Return on assets 22 (d) Current ratio 181 :1 le) Accounts receivable turnover 16.6 times (t) Average collection period days lp Inventory turnover 8.5 times th) Days in inventory days 3 Times interest earned 172 times 0 Asset turnover 2 times [k] Debt to assets ratio 42.3 % Free cash flowStep by Step Solution
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