Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 13-02A (Video) The comparative statements of Crane Company are presented here Crane Company Income Statements For the Years Ended December 31 2020 2019 Net
Problem 13-02A (Video) The comparative statements of Crane Company are presented here Crane Company Income Statements For the Years Ended December 31 2020 2019 Net sales Cost ot goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,896,140 $1,756,100 1,011,600 744,500 484,600 259,900 1,064,140 832,000 505,600 326,400 Interest expense Income before income taxes Incone tax expense Net income 23,800 302,600 93,800 5208,800 21,800 238,100 74,800 $163,300 Crane Company Balance Sheets December 31 ts 2020 2019 Current assets Cash Debt investments (short-term) Accounts receivable Inventory 560,100 $64,200 50,000 108,400 117,300 339,900 530,300 $1,044,300 $870,200 74,000 123,400 127,800 385,300 659,000 Total current assets Plant assets (net) Total assets lities and Stockholders' Equit Current liabilities Accounts payable $165,600 $151,000 43,800 194,800 210,000 404,800 45,300 210,900 230,000 440,900 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings 300,000 165,400 465,400 $1,044,300 $870,200 290,000 313,400 10 603,400 Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $236,000. Capital expenditures were $136,000, and cash dividends were $60,800 Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (e) Return on assets (d) Current ratio (e) Accounts receivable turnover to times Average collection period (g) Inventory turnover (h) Days in inventory (i) Times interest earned ) Asset tur (k) Debt to assets ratio (I) Free cash flovw Click if you would like to Show Work for this question en Show Work days times times times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started