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;> open Assignment ENT RESOURCES , 1 Exercise 13-13 l3 Homework yemise 13-11 ' The condensed financial statements of Sunland Company for the years 2016 and 2017 are presented below. Exercise 13-12 jse 13_4 SUNLAND COMPANY "ise 13_6 Balance Sheets '. December 31 (in thousands) use 1310 i cise 13-13 '1 2017 2016 and Your Critical nking 134 ,' Current assets ercise 13-3 ' Cash and cash equivalents $330 $360 'eWM Accounts receivable (net) 570 500 iew Score ' Inventory 600 530 view Results by Study i Prepaid expenses 130 160 iective i Total current assets 1,630 1,550 Property, plant, and equipment (net) 410 380 i Investments 110 110 i Intangibles and other assets 530 510 Total assets $2,680 $2,550 ' i Current liabilities $920 $890 l Longterm liabilities 620 520 ' Stockholders' equitycommon 1,140 1,140 Total liabilities and stockholders' equity $2.680 $2.550 SUNLAND COMPANY Income Statements yPLus ti":g;;::::::.i.::... ;> Open Assignment ' " SUNLAND COMPANY ENT RESOURCES Income Statements |-__3 \"Omewm'k For the Year Ended December 31 (in thousands) :XGi'CiSE 13-11 ' 2017 2016 Exercise 1312 ise 13-4 Sales revenue $3,940 $3,600 M Costs and expenses cise 13-10 Cost of goods sold 1,070 990 and Your Critical Selling & administrative expenses 2,400 2,330 viking 13-4 arcise 13_3 ' Interest expense 10 20 k ercises 13-1 Total costs and expenses 3,480 3,340 ew Score -. 1 Income before income taxes 460 260 lew Results by Study Income tax expense 184 104 active ' Net income $ 276 $ 156 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, e.g 1.4 place, e.g. 1.8 or 12.6%.) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2015, was $450.) (c) Prot margin. (cl) Return on assets. (Assets on December 31, 2015, were $2,350.) (e) Return on common stockholders' equity. (Equity on December 31, 20 (f) Debt to assets ratio. (9) Times interest earned. 15, was $930.) \\U) Mullyllt IULIUI (b) Inventory turnover. (Inventory on December 31, 2015, was $450.) (c) Prot margin. . A54... ~A ' (d) Return on assets. (Assets on December 31, 2015, were $2,350.) . (e) Return on common stockho|ders' equity. (Equity on December 31, 2015, was $930.) (f) Debt to assets ratio. (9) Times interest earned. 2017 2016 M . Current ratio. v7W1_77I :1 ; W W 1.743 :1 cises 13-1 i:::i:':::::i:::.: " inventory turnover. I I W 7 7 k N Score ' .::;.. :.;.::.;:j 'fw 5 in Results by Stud! \\ Pmt margin. 'I f % . H if % m I ';'i:-.'.'.:\" ' [W ' *1 . Return on assets. 'L I 0/0 I I % Return on common stockho|ders' equity. I '7 I 0/0 I... 0/0 ' i D . ' if 1:." , It::j:.'_::'::::i:::'.:'.\"' % . ebt to assets ratio. I , I 0/0 I I % Time . H ... .. ,..,.. ___.,,. 7 5 interest earned. I times I I times I Click if you would like to Show Work for this question: Open Show Work Question Attempts: O of . hrs Reserved. A DIVISIOn of John Wiley & Sons, Inc
