Please help fill in the blanks - I am not sure how to arrive at the amounts.
*ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $ 1,228,000 $1,026,000 Expenses: Cost of goods sold $812,000 $708,000 Selling and administrative 229,000 225,000 Interest expense 15,000 12,000 Income tax expense 32,400 22,000 Total expenses $1,088,400 $967,000 Net income $139,600 $59,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Current assets: Cash $41,000 $37,600 Notes receivable 36,000 27,600 Accounts receivable (net) 171,600 148,800 Inventory 181,500 140,000 Total current assets 430,100 354,000 Property, plant, and equipment (net) 848,000 784,000 Total assets $1,278,100 $1, 138,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $248,000 $235,000 Notes payable 47,200 39,200 Total current liabilities $295,200 $274,200 Long-term liabilities: Bonds payable 240,000 162,400 Total liabilities $535,200 $436,600 Stockholders' equity: Common stock ($5 par) $300,000 $300,000 Retained earnings 142,900 401,400 Total stockholders' equity 742,900 $701,400 Total liabilities and stockholders' equity $1,278,100 $1,138,000 Additional data: 1) The common stock recently sold at $30 per share. 2) The weighted-average common shares outstanding for the two years, 2015 and 2016, was 70,000 shares. Compute the return on assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when with commas.) entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers Return on Assets = $ What does this calculated ratio mean? ( Round answer to 2 decimal places. Do not use dollar signs ($) when entering The Company % on each dollar in its as every period. Compute the return on common stockholders' equity ratio for 2016. (Round answer to 2 decimal places. Do not use Return on common stockholders' equity $ What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering The Company % on each dollar " by itsCompute the earnings per share ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (5) when Earnings per share _ I ' ' (erg) ' | v ' = v s 1; What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering The Company Compute the price-earnings ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when Priceearnings ratio = v v ' V II 4 ' times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering v The Company stock for times the amount that the company ' on each share. Compute the payout ratio for 2016. (Round answer to Zrdeclmal places. Do not use dollar signs (3) when entering H q Payout ratio v v % What does this calculated ratio mean? ( Round answer to 2 decimal places. Do not use dollar signs (5) when entering The Company _% of Its. earnings In form of . I Compute the debt to total assets ratlo for 2016. (Round answer to 2 decimal places. Do not use dollar signs (s) when Debt to Total Assets = v ' v y H 4 l % What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering 3% of the oom'pany's- ' was provided by . Compute the times interest earned ratio for 2016. (Round ansWer to 2 decimal places. Do not use dollar signs (s) when entering amounts. To see comma-formatted numbers reected in your nal answers, you must enter your answers with commas.) Times Interest i ' ' earned ' ll 1 times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your nal answers, you must enter your answers with commas.) The Company can cover Its ' approximately times per year/period
