Problem 13-2A

The comparative statements of Osborne Company are presented here.

OSBORNE COMPANY Income Statements For the Years Ended December 31
		2014		2013
Net sales		$1,895,999		$1,755,959
Cost of goods sold		1,063,999		1,011,459
Gross profit		832,000		744,500
Selling and administrative expenses		505,459		484,459
Income from operations		326,541		260,041
Other expenses and losses
Interest expense		23,583		21,583
Income before income taxes		302,958		238,458
Income tax expense		93,583		74,583
Net income		$ 209,375		$ 163,875

OSBORNE COMPANY Balance Sheets December 31
Assets		2014		2013
Current assets
Cash		$ 60,100		$ 64,200
Debt investments (short-term)		74,000		50,000
Accounts receivable		123,259		108,259
Inventory		127,583		117,083
Total current assets		384,942		339,542
Plant assets (net)		663,905		535,205
Total assets		$1,048,847		$874,747
Liabilities and Stockholders Equity
Current liabilities
Accounts payable		$ 165,459		$150,859
Income taxes payable		45,083		43,583
Total current liabilities		210,542		194,442
Bonds payable		234,905		214,905
Total liabilities		445,447		409,347
Stockholders equity
Common stock ($5 par)		290,000		300,000
Retained earnings		313,400		165,400
Total stockholders equity		603,400		465,400
Total liabilities and stockholders equity		$1,048,847		$874,747

All sales were on account. Net cash provided by operating activities for 2014 was $235,290. Capital expenditures were $136,100, and cash dividends were $61,375. Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)

(a)		Earnings per share		$
(b)		Return on common stockholders equity			%
(c)		Return on assets			%
(d)		Current ratio			:1
(e)		Accounts receivable turnover			times
(f)		Average collection period			days
(g)		Inventory turnover			times
(h)		Days in inventory			days
(i)		Times interest earned			times
(j)		Asset turnover			times
(k)		Debt to assets			%
(l)		Current cash debt coverage			times
(m)		Cash debt coverage			times
(n)		Free cash flow		$