ONLY NEED ANSWERS TO THE LAST PART OF THE STATEMENT:

ALLENDALE COMPANY

Balance Sheets

As of December 31

2019 2018

Assets

Current assets

Cash $ 40,000 $ 36,000

Marketable securities 20,000 6,000

Accounts receivable (net) 54,000 46,000

Inventories 135,000 143,000

Prepaid items 25,000 10,000

Total current assets 274,000 241,000

Investments 27,000 20,000

Plant (net) 270,000 255,000

Land 29,000 24,000

Total assets $ 600,000 $ 540,000

Liabilities and Stockholders Equity

Liabilities

Current liabilities

Notes payable $ 17,000 $ 6,000

Accounts payable 113,800 100,000

Salaries payable 21,000 15,000

Total current liabilities 151,800 121,000

Noncurrent liabilities

Bonds payable 100,000 100,000

Other 32,000 27,000

Total noncurrent liabilities 132,000 127,000

Total liabilities 283,800 248,000

Stockholders equity

Preferred stock, (par value $10, 4% cumulative, non-participating; 8,000 shares authorized and issued) 80,000 80,000

Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 80,000 80,000

Retained earnings 156,200 132,000

Total stockholders equity 316,200 292,000

Total liabilities and stockholders equity $ 600,000 $ 540,000

ALLENDALE COMPANY

Statements of Income and Retained Earnings

For the Years Ended December 31

2019 2018

Revenues

Sales (net) $ 230,000 $ 210,000

Other revenues 8,000 5,000

Total revenues 238,000 215,000

Expenses

Cost of goods sold 120,000 103,000

Selling, general, and administrative 55,000 50,000

Interest expense 8,000 7,200

Income tax expense 23,000 22,000

Total expenses 206,000 182,200

Net earnings (net income) 32,000 32,800

Retained earnings, January 1 132,000 107,000

Less: Preferred stock dividends 3,200 3,200

Common stock dividends 4,600 4,600

Retained earnings, December 31 $ 156,200 $ 132,000

Required

Calculate the following ratios for 2019 and 2018. Since 2017 numbers are not presented do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet.

Working capital.

Current ratio. (Round your answers to 2 decimal places.)

Quick ratio. (Round your answers to 2 decimal places.)

Receivables turnover (beginning receivables at January 1, 2018, were $47,000). (Round your answers to 2 decimal places.)

Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)

Inventory turnover (beginning inventory at January 1, 2018, was $140,000). (Round your answers to 2 decimal places.)

Number of days to sell inventory. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)

Debt to assets ratio. (Round your answers to the nearest whole percent.)

Debt to equity ratio. (Round your answers to 2 decimal places.)

Number of times interest was earned. (Round your answers to 2 decimal places.)

Plant assets to long-term debt. (Round your answers to 2 decimal places.)

Net margin. (Round your answers to 2 decimal places.)

Turnover of assets. (Round your answers to 2 decimal places.)

Return on investment. (Round your answers to 2 decimal places.)

Return on equity. (Round your answers to 2 decimal places.)

Earnings per share. (Round your answers to 2 decimal places.)

Book value per share of common stock. (Round your answers to 2 decimal places.)

Price-earnings ratio (market price per share: 2018, $11.75; 2019, $12.50). (Round your intermediate calculations and final answer to 2 decimal places.)

Dividend yield on common stock. (Round your answers to 2 decimal places.)