P13-8A part B

lates to the bonds onds payable that were outstanding all year at January I was th Required geir the missing amounts, and complete the financial statements of Omicron Company. Hint: the m Cobpuase the income statement first. red with Industry Averages Because you own the common stock of Phantom Cor- you decide to analyze the firm's performance for the most recer Ratios Compared oration, a paper manufacturer following data are taken from the firm's latest annual report: The Dec. 31, 2016 Dec. 31, 2015 Quick assets..:700,000 Inventory and prepaid expenses Other assets... Total Assets . . $ 552,000 312,000 4.788,0004,200,000 $5,860,000 Current liabilities... 896 Preferred stock, $100 par value. . . . . . . . . . . Common stock, $10 par value Retained earnings Total Liabilities and Stockholders' Equity ..$ 724,000 564,000 1,440,000 480,000 2,160,000 420,000 2,700,000 516,000 $5,860,000 $5,064,000 For 2016, net sales amount to $11,280,000, net income is $575,000, and preferred stock dividends paid are $42,000 Required a Calculate the following ratios for 2016: 1. 2. 3. 4. 5. 6. Return on sales Return on assets Return on common stockholders' equity Quick ratio Current ratio Debt-to-equity ratio