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Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows: Year 3 Year 4 Sales $ 5,548,550 Year 5 $ 5,747,090 Cash Accounts receivable, net Inventory Year 1 $4,620,290 $ 81,350 414,378 805,446 $ 1,301,174 $314,191 Year 2 $ 4,781,140 $ 100,656 430,358 864,085 $ 1,395,099 $ 346,703 $ 5,127,010 $ 97,728 435,058 827,695 $ 1,360,481 $334,883 $ 91,215 513,743 880,279 $ 68,117 561,693 902,504 Total current assets $ 1,532,314 Current liabilities $ 1,485,237 $ 324,649 $ 396,272 Required: 1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers to 1 decimal place (.e., 0.1234 should be entered as 12.3).) Year 1 Year 2 Year 3 Year 4 Year 5 Sales Current assets Cash Accounts receivable, net Inventory Total current assets Current liabilities % % % % % % % **** % % % % % % % % % % % % % % % % % % % % % A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,300,000 4,650,000 Last Year $ 5,548,000 3,515,000 Cost of goods sold Grose margin 2,650,000 2,033,000 Selling and administrative expenses: Selling expenses 1,388,000 1,079,500 Administrative expenses 710,500 612,000 Total expenses 2,098,500 1,691,500 Net operating income 551,500 341,500 Interest expense 98,000 87,000 Set income before taxes $ 453,500 $ 254,500 Members of the company's board of directors are surprised to see that net income increased by only $199,000 when sales increased by $1,752,000. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses % 0.0% % 0.0% liet Income before taxes $ 453,500 $ 254,500 Members of the company's board of directors are surprised to see that net income increased by only $199,000 when sales increased by $1,752,000. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % 0.0 % % % 0.0% 0.0% % 0.0 % % % 0.0 % % % 0.0 % 0.0 % % 0.0 % Check my Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $22. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current asseter Cash $ 1,240 Accounts receivable, net $ 1,130 10,900 13,500 Inventory 7,300 11,600 Prepaid expenses 650 540 Total current assets 26,180 20,680 Property and equipment: Land 10,200 10,200 Buildings and equipment, net 47,107 41,716 Total property and equipment 57,307 51.916 Total assets $ 83,407 $ 72,596 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 18,900 $ 18,500 Accrued liabilities 960 170 870 170 Notes payable, short term Total current liabilities Long-term liabilities: 20,030 19:540 9.400 9,400 Bonda payable Total liabilities 29,430 28.940 Stockholders equity Common stock 500 500 Additional paid-in capital 4,000 4,000 weiler corporation Comparative Income Statement and Reconciliation (dollars in thousands). This Year $ 76,000 40,000 36,000 10,700 6,400 17,100 18,900 940 17,960 7,184 10,776 375 10,401 39,156 $ 49,557 Sales- Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data and ratios for this year: 1. Working capital. (Enter your answer in thousands.) 2. Current ratio. (Round your answer to 2 decimal places.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) 1. Working capital 2. Current ratio 3. Acid-test ratio Last Year $ 65,000 33,000 32,000 10,100 6,600 16,700 15,300 940 14,360 5,744 8,616 200 8,416 30,740 $ 39,156 Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 600,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $29. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory $ 1,250 10,700 12,200 600 24,750 $ 1,370 8,000 12,500. Prepaid expenses 620 Total current assets 22,490 Property and equipment: Land 9,700 9,700 52,668 38,640 Buildings and equipment, net Total property and equipment 62,368 48,340 Total asseta $07,110 $70,830 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 19,300 $ 18,400 Accrued liabilities 790 1,040, 170 170 Notes payable, short termi Total current liabilities Long-term liabilities: 20,510 19,360 9,000 9,000 29,510 28,360 Bonds payable Total liabilities Stockholders equity: Common stock 600 4nnn 600 & Ann ces Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Set income Dividends to common stockholders Set income added to retained earnings. Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year 9,000 29,510 600 4,000 4,600 53,008 57,608 $ 87,118 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $82,280 37,050 45,230 11,500 7,200 18,700 26,530 900 25,630 10,252 15,378 240 15,138 37,870 $ 53,008 9,000 28,360 600 4,000 4,600 37,870 42,470 $ 70,830 Last Year $ 64,000 34,000 30,000 10,500 6,300 16,800 13,200 900 13,300 4,920 7,380 450 6,930 30,940 $ 37,870 377870 Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal places.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 3. Inventory turnover. (Round your answer to 2 decimal places.) 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) 6. Total asset turnover. (Round your answer to 2 decimal places.) 1. Accounts receivable turnover 2. Average collection period days 3. Inventory turnover 4. Average sale period days 5. Operating cycle days 6. Total asset turnover Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 880,000 shares of common stock were outstanding. The Interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $22. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current asset Cash $ 4,340 Accounts receivable, net Inventory 10,150 $ 3,508 15,200 10,100 1,800 8,520 Prepaid expenses 2,260 Total current assets 30.680 25,270 Property and equipment: Land 6,800 6,000 20,000 Buildings and equipment, net Total property and equipment 19,800 26,800 Total assets $57,400 $ 51,870 Liabilities and Stockholders' Equity Current liabilition: Accounts payable $ 10,300 $8,700 Accrued liabilities 760 1,100 Notes payable, short ters 380 380 11,440 10,180. Total current liabilities Long-term liabilities Bonds payable 8.750 ***** 24 AN Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders equity: Common stock Additional paid-in capital Total paid-in capital Betained earnings Total stockholders equity Total liabilities and stockholders equity Sales cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses et operating income Interest expense Net Income before taxes Income taxe Set income Dividends to common stockholders 760 360 11,440 8,750 20,190 880 4,600 5,400 31,818 37,298 $57,488 Weller Corporation Comparative Incone Statement and Reconciliation (dollars in thousands) This Year $ 97,000 56,000 31,000 9,300 12,900 22,100 8,900 1,050 7,850 3,140 4,710 352 1,100 380 10,180 8,750 18,930 880 4,600 5,480 27,460 32,940 $ 51,870 Last Year $82,000 52,000 30,000 8,800 11,800 20,600 9,400 1,050 8,350 3,340 5,010 704 num Interest expense 1,050 1,050 Set income before taxes Income taxes 7,850 8,350 3,140 3,340 Net Income 4,710 5,010 Dividends to common stockholders 352 704 Bet income added to retained earnings Beginning retained earnings 4,358 27,460 4,306 23,154 Ending retained earnings $ 31,818 $ 27,460 Required: Compute the following financial data for this year: 1. Gross margin percentage. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 3. Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 4. Return on equity. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) Answer is complete but not entirely correct. 1. Gross margin percentage % 35.6 5.4 % 2. Net profit margin percentage 3. Return on total assets 8.6 % 4. Return on equity 13.41 %