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The following financial statements apply to Adams Company: 2019 2018 Revenues Net sales Other revenues $210,700 9,800 220,500 $176,300 5,200 181,500 Total revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense 124,500 20,900 10,500 2,400 19,100 177,400 101,600 18,900 9,500 2,400 16,000 148,400 Total expenses Net income $ 43,100 $ 33,100 $ 4,600 2,700 35,100 100,700 4,000 147,100 106,100 21,600 $274,800 $ 7,100 2,700 30,500 95,600 3,000 138,900 106,100 0 $245,000 Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (42,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 38,900 15,500 54,400 65,300 119,700 $ 55,800 15,200 71,000 66,300 137,300 114,300 40,800 155, 100 $274,800 114,300 (6,600) 107,700 $245,000 Required Calculate the following ratios for 2018 and 2019. 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. a. Net margin. (Round your answers to 2 decimal places.) b. Return on investment. (Round your answers to 2 decimal places.) c. Return on equity. (Round your answers to 2 decimal places.) d. Earnings per share. (Round your answers to 2 decimal places.) e. Price-earnings ratio (market prices at the end of 2018 and 2019 were $6.11 and $4.88, respectively). (Round your intermediate calculations and final answers to 2 decimal places.) f. Book value per share of common stock. (Round your answers to 2 decimal places.) g. Times interest earned. Exclude extraordinary income in the calculation as they cannot be expected to recur and, therefore, will not be available to satisfy future interest payments. (Round your answers to 2 decimal places.) h. Working capital. i. Current ratio. (Round your answers to 2 decimal places.) j. Quick (acid-test) ratio. (Round your answers to 2 decimal places.) k. Accounts receivable turnover. (Round your answers to 2 decimal places.) 1. Inventory turnover. (Round your answers to 2 decimal places.) m. Debt to equity ratio. (Round your answers to 2 decimal places.) n. Debt to assets ratio. (Round your answers to the nearest whole percent.) 2019 2018 a. Net margin % % b. Return on investment % % % % c. Return on equity d. Earnings per share e. Price-earnings ratio f. Book value times times g. Interest earned times times h. Working capital i. Current ratio j. Quick (acid-test) ratio k. Accounts receivable turnover times times times times 1. Inventory turnover m. Debt to equity ratio n. Debt to assets ratio % %
