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Sunland Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,700 $1,746,500 Cost of goods sold 1,007,700 981,000 Gross profit 805,000
Sunland Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,700 $1,746,500 Cost of goods sold 1,007,700 981,000 Gross profit 805,000 765,500 Selling and administrative expenses 516,800 477,000 Income from operations 288,200 288,500 Other expenses and losses Interest expense 18,400 13,600 Income before income taxes 269,800 274,900 Income tax expense 82,408 77,000 Net income $ 187,392 $ 197,900 Sunland Company Balance Sheets December 31 Assets 2022 2021 Current assets Cash $59,100 $65,000 Debt investments (short-term) 69,400 49,900 Accounts receivable (net) 117,100 102,600 Inventory 123,000 115,500 Total current assets 368,600 333,000 Plant assets (net) 602,000 521,600 Total assets $970,600 $854,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,600 $144,900 Income taxes payable 43,100 42,400 Total current liabilities 202,700 187,300 Bonds payable 220,000 200,000 Total liabilities 422,700 387,300 Stockholders' equity Common stock ($5 par) 283,100 302.500 Retained earnings 264,900 164,800 Total stockholders' equity 547,900 467,300 Total liabilities and stockholders' equity $970,600 $954,600 All sales were on credit. Net cash provided by operating activities for 2022 was $237,000. Capital expenditures were $143,000, and cash dividends paid were $87,392. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 165:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $ (b) Return on common stockholders' equity d. (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable turnover times (1) Average collection period days (g) Inventory turnover times (h) Days in inventory days (1) Times interest earned times (1) Asset turnover times (k) Debt to assets ratio (1) Free cash flow
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