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SIMPLE! Return on assets and Return on common stock holders equity. It is the 2 in red. Thank you CORBIN COMPANY Income Statement For the
SIMPLE! Return on assets and Return on common stock holders equity. It is the 2 in red. Thank you
CORBIN COMPANY Income Statement For the Years Ended December 31 2017 2016 Net sales (all on account) $595,000 $520,000 Expenses 354,000 Cost of goods sold 415,000 120,800 Selling and administrative 114,800 Interest expense 7,800 6,000 Income tax expense 15,000 14,000 Total expenses 558,600 488,800 36,400 31,200 Net income CORBIN COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash $21,000 18,000 Short-term investments 18,000 15,000 91,000 Accounts receivable (net) 74,000 Inventory 85,000 70,000 Total current assets 215,000 177,000 Plant assets (net) 423,000 383,000 $638,000 $560,000 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $122,000 $110,000 Income taxes payable 23,000 20,000 145,000 Total current liabilities 130,000 Long-term liabilities Bonds payable 120,000 80,000 265,000 210,000 Total liabilities Stockholders' equity Common stock ($5 par) 150,000 150,000 Retained earnings 200,000 223,000 Total stockholders' equity 373,000 350,000 Total liabilities and stockholders' equity $638,000 $560,000 Additional data: The common stock recently sold t $19.50 per share. Compute the following ratios for 2017. (Round Acid-test ratio and Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Current ratio. 1.48 (b) Acid-test ratio. 0.89 (c) Accounts receivable turnover. 7,21 times (d) Inventory turnover. 5.36 times (e) Profit margin. 6.19% (f) Asset turnover. 99 times (g) Return 5.71% assets. (h) Return common stockholders' equity q.76 % (i) Earnings per share. 1.21 Price-earnings ratio. 16.12 times (k) Payout ratio. 36.81 Debt to assets ratio. 41.54 % (m) Times interest earned. 7.59 times LINK T TEXT PIMDMARStep by Step Solution
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