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Splish Brothers Inc. Balance Sheet December 31, 2017 Assets Current assets Cash Debt investments Accounts receivable (net) $ 80,000 85,880 182,000 159,900 507,780 595,300 $
Splish Brothers Inc. Balance Sheet December 31, 2017 Assets Current assets Cash Debt investments Accounts receivable (net) $ 80,000 85,880 182,000 159,900 507,780 595,300 $ 1,103,080 Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 179,900 37,380 217,280 212,200 429,480 370,000 303,600 673,600 $1,103,080 Splish Brothers Inc. Income Statement For the Year Ended December 31, 2017 Net sales Cost of goods sold Selling and administrative expenses Interest expense $2,238,400 1,032,400 922,200 92,600 70,880 $ 120,320 Income tax expense Net income Additional information: The net cash provided by operating activities for 2017 was $210,700. The cash used for capital expenditures was $112,000. The cash used for dividends was $32,880. The weighted average number of shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2017. (We provide the results from 2016 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, e.g. 15.25 and Debt to assets ratio to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (i) Working capital. (2016: $160,500) (ii) Current ratio. (2016: 1.65:1) (iii) Free cash flow. (2016: $48,700) (iv) Debt to assets ratio. (2016: 31%) (v) Earnings per share. (2016: $3.15) (0) Working capital (ii) Current ratio (iii) Free cash flow (iv) Debt to assets ratio (V) Earnings per share $
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