Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help with the below (image is attached below) Problem 14-3A Condensed balance sheet and income statement data for Landwehr Corporation appear below. LAN DW

image text in transcribed

Please help with the below (image is attached below)

image text in transcribed
Problem 14-3A Condensed balance sheet and income statement data for Landwehr Corporation appear below. LAN DW EH R CO RPO RAHCI N Balance Sheets December 31 2018 201? 2016 Cash 3; 25,000 $ 1?,100 $ 18,800 Accounts receivable [net] 50,900 45,200 48,?00 Other current assets 89,400 94,?00 64,500 Investments 24,100 70,400 45,500 Plant and equipment (net) 399,100 369,100 352,300 $638,500 $596,500 $534,800 Current liabilities $24,300 $80,000 $69,600 Longterm debt 80,600 85,600 49,000 Common stock, $10 par 380,000 316,000 312,000 Retained earnings 103,600 114,900 104,200 $530,500 $595,500 $534,000 LAN DW EH R CO RPO RATIO N Income Statement For the Years End ed December 31 2018 201? Sales revenue $238,000 $205,600 Less: Sales returns and allowances 39,200 50,?00 Net sales 698,800 654,900 Cost of goods sold 420,000 395,500 Gross prot 228,800 259,400 Operating expenses (including income taxes) 215,000 221,000 Net income 35 63,800 $ 38,400 Additional information: 1. We market price of Landwehr's common stock I.vas $3.00, $5.00, and $9.00 for 2016, 201?, and 2018, respectively. 2. All dividends were paid in cash. 0!) Compute the following ratios for 201? and 2018. (Round Earnings per share to 2 decimalI places, e.y. 1.65, and all other answers to 1 decimal place, 6.9. 6.8 or 6.8%.) (1)Prot margin (2)Asset turnover (3)Earnings per share {Weightedaverage common shares in 2018 were 32,400 and in 2017 were 32,300) (4)Price-earnings ratio (5)Pavout ratio (6)Debt to assets ratio 201]r 2018 times times

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

Step: 3

blur-text-image

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

Payroll Accounting 2019

Authors: Jeanette Landin, Paulette Schirmer

5th edition

125991707X, 978-1259917073

More Books

Students also viewed these Accounting questions

Question

What is meant by organisational theory ?

Answered: 1 week ago

Question

What is meant by decentralisation of authority ?

Answered: 1 week ago

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago