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round answers to 2 decimal places The comparative statements of Crane Company are presented here. CRANE COMPANY Income Statements For the Years Ended December 31
round answers to 2 decimal places
The comparative statements of Crane Company are presented here. CRANE COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $1,956,400 $1,820,000 Cost of goods sold 1,087,000 1,066,360 Gross profit 869,400 753,640 530.000 507.740 339.400 245,900 Selling and administrative expenses Income from operations Other expenses and losses Interest expense 23,320 21.200 Income before income taxes 316,080 224,700 Income tax expense 94.824 67,410 Net income $221.256 $ 157.290 CRANE COMPANY Balance Sheets December 31 Assets 2022 2021 Current assets Cash $63.706 $ 68,052 Debt investments (short-term) 78.440 53,000 December 31 Assets 2022 2021 Current assets Cash $63,706 $ 68,052 Debt investments (short-term) 78,440 53,000 Accounts receivable 124,868 108,968 Inventory 133.560 122,430 Total current assets 400,574 352,450 Plant assets (net) 687.940 551,518 $1,088,514 $903,968 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 169,600 $154,124 Income taxes payable 46,110 44,520 Total current liabilities 215.710 198,644 Bonds payable 233,200 212,000 Total liabilities 448,910 410,644 307 400 318.000 Stockholders' equity Common stock ($Spar) Retained earnings Total stockholders'equity 332,204 175,324 639.604 493,324 Total liabilities and stockholders equity $1.088,514 $903.968 All sales were on account. Net cash provided by operating activities for 2022 was $233,200. Capital expenditures were $144,160, and cash dividends were $64,376. Compute the following ratios for 2022. (Round all answers to 2 decimal places, ep. 1.83 or 1.83%) (a) Earnings per share $ (b) Return on common stockholders' equity % (c) Return on assets % (d) Current ratio :1 le) Accounts receivable turnover times (1) Average collection period days Inventory turnover times th) Days in inventory days 00 Times interest earned times times Asset turnover (k) Debt to assets ratio ( Free cash flow Step by Step Solution
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