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Need some help with this problem....was able to get a handful of the answers but am struggling with the rest. Any help would be great!
Need some help with this problem....was able to get a handful of the answers but am struggling with the rest. Any help would be great! Thank you.
The comparative statements of Osborne Company are presented here. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 Net sales $1,897,737 Cost of goods sold 1,065,737 Gross profit 832,000 Selling and administrative expenses 507,197 Income from operations 324,803 Other expenses and losses Interest expense 23,997 Income before income taxes 300,806 Income tax expense 93,997 Net income $ 206,809 2013 $1,757,697 1,013,197 744,500 486,197 258,303 21,997 236,306 74,997 $ 161,309 OSBORNE COMPANY Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) 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 2014 2013 $ 60,100 74,000 124,997 127,997 387,094 663,679 $1,050,773 $ 64,200 50,000 109,997 117,497 341,694 534,979 $876,673 $ 167,197 45,497 212,694 234,679 447,373 $152,597 43,997 196,594 214,679 411,273 290,000 313,400 603,400 $1,050,773 300,000 165,400 465,400 $876,673 All sales were on account. Net cash provided by operating activities for 2014 was $227,290. Capital expenditures were $135,700, and cash dividends were $58,809. Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a) Earnings per share $ 3.52 (b) Return on common stockholders' equity % (c) Return on assets % (d) Current ratio (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover (h) Days in inventory (i) Times interest earned (j) Asset turnover times (k) Debt to assets % (l) Current cash debt coverage times (m) Cash debt coverage :1 1.82 8.67 times days 42.10 times 13.55 times . $ (n) Free cash flowStep by Step Solution
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