Question
PLEASE ANSWER E THROUGH Q. Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1
PLEASE ANSWER E THROUGH Q.
Hyrkas Corporation's most recent balance sheet and income statement appear below:
Balance Sheet | ||||||
December 31, Year 2 and Year 1 | ||||||
(in thousands of dollars) | ||||||
Year 2 | Year 1 | |||||
Assets | ||||||
Current assets: | ||||||
Cash | $ | 215 | $ | 320 | ||
Accounts receivable, net | 350 | 370 | ||||
Inventory | 320 | 290 | ||||
Prepaid expenses | 20 | 20 | ||||
Total current assets | 905 | 1,000 | ||||
Plant and equipment, net | 1,150 | 1,260 | ||||
Total assets | $ | 2,055 | $ | 2,260 | ||
Liabilities and Stockholders' Equity | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 290 | $ | 320 | ||
Accrued liabilities | 50 | 50 | ||||
Notes payable, short term | 40 | 40 | ||||
Total current liabilities | 380 | 410 | ||||
Bonds payable | 280 | 470 | ||||
Total liabilities | 660 | 880 | ||||
Stockholders equity: | ||||||
Common stock, $2 par value | 200 | 200 | ||||
Additional paid-in capital | 330 | 330 | ||||
Retained earnings | 865 | 850 | ||||
Total stockholders equity | 1,395 | 1,380 | ||||
Total liabilities & stockholders equity | $ | 2,055 | $ | 2,260 | ||
Income Statement | |||
For the Year Ended December 31, Year 2 | |||
(in thousands of dollars) | |||
Sales (all on account) | $ | 1,550 | |
Cost of goods sold | 980 | ||
Gross margin | 570 | ||
Selling and administrative expense | 465 | ||
Net operating income | 105 | ||
Interest expense | 20 | ||
Net income before taxes | 85 | ||
Income taxes (30%) | 26 | ||
Net income | $ | 59 | |
Dividends on common stock during Year 2 totaled $44 thousand. The market price of common stock at the end of Year 2 was $13.00 per share.
Required:
Compute the following for Year 2:
a. Gross margin percentage. (Round your answer to 1 decimal place.)
b. Earnings per share. (Round your answer to 2 decimal places.)
c. Price-earnings ratio. (Do not round intermediate calculations. Round your answer to 1 decimal place.)
d. Dividend payout ratio. (Do not round intermediate calculations. Round your "Percentage" answer to 1 decimal place.)
e. Dividend yield ratio. (Round your "Percentage" answer to 2 decimal places.)
f. Return on total assets. (Do not round intermediate calculations. Round your "Percentage" answer to 2 decimal places.)
g. Return on equity. (Round your "Percentage" answer to 2 decimal places.)
h. Book value per share. (Round your answer to 2 decimal places.)
i. Working capital. (Input your answer in thousands of dollars.)
j. Current ratio. (Round your answer to 2 decimal places.)
k. Acid-test (quick) ratio. (Round your answer to 2 decimal places.)
l. Accounts receivable turnover. (Round your answer to 2 decimal places.)
m. Average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)
n. Inventory turnover. (Round your answer to 2 decimal places.)
o. Average sale period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)
p. Times interest earned ratio. (Round your answer to 2 decimal places.)
q. Debt-to-equity ratio. (Round your answer to 2 decimal places.)
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