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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) $1,178,000 $1,034,000 Expenses: Cost of goods sold $808,000 $710,000 Selling and administrative 209,000 225,000 Interest expense 12,000 14,000 Income tax expense 33,400 23,000 Total expenses $1,062,400 $972,000 Net income $115,600 $62,000 2015 $37,000 28,600 149,400 138,800 353,800 782,000 $1,135,800 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 Current assets: Cash $38,600 Notes receivable 34,200 Accounts receivable (net) 171,200 Inventory 181,500 Total current assets 425,500 Property, plant, and equipment (net) 842,000 Total assets $1,267,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $242,000 Notes payable 47,200 Total current liabilities $289,200 Long-term liabilities: Bonds payable 233,000 Total liabilities $522,200 Stockholders' equity: Common stock ($5 par) $300,000 Retained earnings 445,300 Total stockholders' equity 745,300 Total liabilities and stockholders'equity $1,267,500 $238,000 41,800 $279,800 164,800 $444,600 $300,000 391,200 $691,200 $1,135,800 Additional data: 1) The common stock recently sold at $44 per share. 2) The weighted average common shares outstanding for the two years, 2015 and 2016, was 70,000 shares. Compute the current ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (s) when entering a final answers, you must enter your answers with commas.) Current Ratio - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering a final answers, you must enter your answers with commas.) For every dollar of the company needs to pay, it has $ Before moving onto the next section, please do the following for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers button until you LINK TO TEXT Compute the receivables turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when reflected in your final answers, you must enter your answers with commas.) Accounts Receivable Turnover - times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amo Final answers, you must enter your answers with commas.) The Company an average of limes a year/period. Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): Scroll to the end of the page and click on the "Save for Later" button to save your work. When you are ready to begin the next section, you can reference the work that you have completed by clicking on will open your saved answers in a new window to help you complete the next section. omplete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you hav Compute the inventory turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering in your final answers, you must enter your answers with commas.) Inventory Turnover - times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts final answers, you must enter your answers with commas.) The Company an average of times a year/period. Before moving onto the next section, please do the following (for screen hd click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have co Compute the profit margin ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) wh your final answers, you must enter your answers with commas.) Profit Margin- What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when ente final answers, you must enter your answers with commas.) The Company % on each dollar of every period. Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for Later" button to schake your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clic will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not dick on the "Submit Answers button until Compute the asset turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (5) wher your final answers, you must enter your answers with commas.) Asset turnover - times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when enterin final answers, you must enter your answers with commas.) The Company generates $ for each dollarit M in its Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clickin will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a sertion na n a n Compute the return on common stockholders' equity ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs formatted numbers reflected in your final answers, you must enter your answers with commas.) Return on common stockholders' equity - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To se final answers, you must enter your answers with commas.) The Company % on each dollar by its Before moving onto the next section, please do the following (for screen hele, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for later button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer V will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed Compute the return on common stockholders' equity ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when formatted numbers reflected in your final answers, you must enter your answers with commas.) Return on common stockholders' equity - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comme final answers, you must enter your answers with commas.) The Company % on each dollar by its Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version bu will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have m ade all of the Compute the earnings per share ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amo in your final answers, you must enter your answers with commas.) Earnings per share (EPS) - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see final answers, you must enter your answers with commas.) The Company Before moving onto the next section, please do the following for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Ve will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed Compute the price earnings ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amou your final answers, you must enter your answers with commas.) Price-earnings ratio- times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To final answers, you must enter your answers with commas.) The Company stock for times the amount that the company on each share. Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have complete Compute the payout ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when en final answers, you must enter your answers with commas.) Payout ratio - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when ent final answers, you must enter your answers with commas.) The Company % of its earnings in form of Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. Compute the debt to total assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (5) when in your final answers, you must enter your answers with commas. Debt to Total Assets What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering an final answers, you must enter your answers with commas.) 11% of the company's was provided by Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 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 con reflected in your final answers, you must enter your answers with commas.) Times Interest earned What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To see comma-formatted final answers, you must enter your answers with commas.) times per year/period The Company can cover its D approximately Before moving onto the next section, please do the following for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When and health
