Problem 9-4 (Part Level Submission) The following financial information is for Cullumber Company. 2016 CULLUMBER COMPANY Balance Sheets December 31 Assets 2017 Cash $ 70,000 Debt investments (short-term) 53,000 Accounts receivable 108,000 Inventory 229,000 Prepaid expenses 30,000 Land 130,000 Building and equipment (net) 264,000 Total assets $884,000 Liabilities and Stockholders' Equity Notes payable $172,000 Accounts payable 65,000 Accrued liabilities 41,000 Bonds payable, due 2020 250,000 Common stock, $10 par 202,000 Retained earnings 154,000 Total liabilities and stockholders' equity $884,000 $ 64,000 39,000 90,000 162,000 25,000 130,000 185,000 $695,000 $102,000 51,000 41,000 172,000 202,000 127,000 $695,000 CULLUMBER COMPANY Income Statements For the Years Ended December 31 2017 2016 Sales revenue $890,000 $786,000 Cost of goods sold 641,000 575,000 Gross profit 249,000 211,000 Operating expenses 194,000 159,000 Net income $ 55,000 $ 52,000 Additional information: 1. Inventory at the beginning of 2016 was $116,000. 2. Accounts receivable (net) at the beginning of 2016 were $90,000. 3. Total assets at the beginning of 2016 were $642,000. 4. No common stock transactions occurred during 2016 or 2017. 5. All sales were on account. (al) Compute the liquidity and profitability ratios of Cullumber Company for 2016 and 2017. (Round answers to 1 decimal place, e.g. 1.8 or 1.8%. If % change is a decrease show the num 2017 2016 % Change LIQUIDITY Current ratio :1 :1 % Accounts receivables turnover times times % Inventory turnover times times % 2017 2016 % Change PROFITABILITY % % % Profit margin times times % Asset turnover % % % Return on assets % $ Earnings per share $ Click if you would like to Show Work for this question: Open Show Work 36 and 2017. (Round current ratio, earnings per share and asset turnover to 2 decimal places, e.g 1.83 and all other ease show the numbers as negative, e.g. -1.83% or (1.83%).) % Change % % % S Change % % 0% how Work Problem 9-4 (Part Level Submission) The following financial information is for Cullumber Company. 2016 CULLUMBER COMPANY Balance Sheets December 31 Assets 2017 Cash $ 70,000 Debt investments (short-term) 53,000 Accounts receivable 108,000 Inventory 229,000 Prepaid expenses 30,000 Land 130,000 Building and equipment (net) 264,000 Total assets $884,000 Liabilities and Stockholders' Equity Notes payable $172,000 Accounts payable 65,000 Accrued liabilities 41,000 Bonds payable, due 2020 250,000 Common stock, $10 par 202,000 Retained earnings 154,000 Total liabilities and stockholders' equity $884,000 $ 64,000 39,000 90,000 162,000 25,000 130,000 185,000 $695,000 $102,000 51,000 41,000 172,000 202,000 127,000 $695,000 CULLUMBER COMPANY Income Statements For the Years Ended December 31 2017 2016 Sales revenue $890,000 $786,000 Cost of goods sold 641,000 575,000 Gross profit 249,000 211,000 Operating expenses 194,000 159,000 Net income $ 55,000 $ 52,000 Additional information: 1. Inventory at the beginning of 2016 was $116,000. 2. Accounts receivable (net) at the beginning of 2016 were $90,000. 3. Total assets at the beginning of 2016 were $642,000. 4. No common stock transactions occurred during 2016 or 2017. 5. All sales were on account. (al) Compute the liquidity and profitability ratios of Cullumber Company for 2016 and 2017. (Round answers to 1 decimal place, e.g. 1.8 or 1.8%. If % change is a decrease show the num 2017 2016 % Change LIQUIDITY Current ratio :1 :1 % Accounts receivables turnover times times % Inventory turnover times times % 2017 2016 % Change PROFITABILITY % % % Profit margin times times % Asset turnover % % % Return on assets % $ Earnings per share $ Click if you would like to Show Work for this question: Open Show Work 36 and 2017. (Round current ratio, earnings per share and asset turnover to 2 decimal places, e.g 1.83 and all other ease show the numbers as negative, e.g. -1.83% or (1.83%).) % Change % % % S Change % % 0% how Work
