Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help prepare the ratios. Thank you!!!! M. Lieberthal Inc. M. Lieberthal Inc. Income Statement Comparative Balance Sheets For years ended December 31, 2017 and

image text in transcribedimage text in transcribed

Please help prepare the ratios. Thank you!!!!

M. Lieberthal Inc. M. Lieberthal Inc. Income Statement Comparative Balance Sheets For years ended December 31, 2017 and 2018 December 31, 2018 and 2017 2018 2017 Change 2018 2017 Current assets: Sales (all on credit) $711,000 $675,000 Cash $75,900 $35,700 $40,200 Accounts receivable Cost of goods sold (371,000) (304,000) 46,000 38,000 8,000 (net) Gross margin 340,000 371,000 Inventory 50,000 48,000 2,000 Prepaid expenses 1,900 4,200 -2,300 Depreciation 38,000 53,000 Other current assets 2,690 4,100 -1,410 expense Other operating 153,000 127,000 Total current assets 176,490 130,000 46,490 expenses Total operating 191,000 180,000 expenses Operating income 149,000 191,000 Long-term Investments 89,000 62,000 27,000 Plant assets 314,000 263,000 51,000 (5,100) (80,400) (53,000) 27,400 Other income (expenses) Interest expense Gain on sale of investments Loss on sale of plant assets Total other income (expenses) Less: accumulated (3,800) depreciation 4,900 Total plant assets 7,000 233,600 210,000 23,600 (4,200) (5,000) Total assets 499,090 402,000 97,090 (16,300) (3,900) Current liabilities: 146,700 187,100 Accounts payable $31,300 $32,000 $-700 Income before income taxes Income taxes expense Net income Accrued liabilities 600 (44,010) (56,130) $102,690 $130,970 Income taxes payable Total current liabilities 3,600 3,500 38,400 3,000 13,000 48,000 -9,500 -9,600 190,000 66,000 238,000 56,400 110,000 0 M. Lieberthal Inc. Long term liabilities: Statement of Retained Earnings Notes Payable 256,000 For the year ended December 31, 2018 Total liabilities 294,400 2018 2017 Ret. earnings, Jan. 1 $26,000 $0 Stockholders' equity Common stock, $5 par Add: net income 102,690 130,970 110,000 value Deduct: Dividends (62,000). (104,970). Additional paid-in capital 28,000 Increase in retained 40,690 26,000 Retained earnings 66,690 earnings Ret. earnings, Dec. $66,690 $26,000 Total stockholders' equity 204,690 31 Total liabilities and $499,090 stockholders' equity 28,000 0 26,000 40,690 164,000 40,690 $402,000 $97,090 22,000 22,000 Other information: Shares of common stock outstanding Earnings per share Dividends per share Market price per share, common stock $4.67 $2.82 $5.95 $4.77 $16 $12 Cash Flows Horiz Horiz Vertic Vertic Analysis Analysis Analysis Analysis Ratios Choose Numerator Choose Denominator Enter Numerator Value Enter Denominator Value $ 176,490 $ 38,400 Ratio Current ratio 4.60 times Current assets Current liabilities Acid-test ratio Current liabilities Inventory turnover Average inventory Ending inventory Days' sales in inventory Ending inventory Accounts receivable turnover Average accounts receivable, net Accounts receivable, net Days' sales in receivables Total asset turnover Debt-to-equity ratio Profit margin Return on total assets Return on common stockholders' equity Pricelearnings ratio (P/E) Dividend yield

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King

3rd Edition

0070054142, 978-0070054141

More Books

Students also viewed these Accounting questions