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The comparative financial statements of Triad Images Inc. are as follows. The market price of Triad Images Inc. common stock was $55 on December 31,
The comparative financial statements of Triad Images Inc. are as follows. The market price of Triad Images Inc. common stock was $55 on December 31, 2008. Triad Images Inc. Comparative retained earnings statement for years ended december 31, 2008 and 2007 dec 31 2008 dec 31 2007 retained earnings January 1 1,006,500 781,500 add net income for year 430,000 277,500 total 1,436,500 1,059,000 deduct dividends on preferred stock 12,500 12,500 on common stock 40,000 40,000 total 52,500 52,500 retained earnings dec 31 1,384,000 1,006,500 triad images inc. comparative income statement for years ended december 31, 2008 and 2007 2008 2007 sales 3,395,000 3,062,500 sales returns and allowances 35,000 22,500 net sales 3,360,000 3,040,000 cost of goods sold 1,500,000 1,437,500 gross profit 1,860,000 1,602,500 selling expenses 726,000 718,750 admin expenses 486,000 475,000 total operating expenses 1,212,000 1,193,750 income from operations 648,000 408,750 other income 48,000 37,500 696,000 446,250 other expense interest 98,000 50,000 income before income tax 598,000 396,250 income tax expense 168,000 118,750 net income 430,000 277,500 TRIAD IMAGES INC. comparative balance sheet december 31 2008 and 2007 2008 2007 assets cash 132,000 120,000 marketable securities 387,000 157,500 accounts receivable net 260,000 196,500 inventories 425,000 332,500 prepaid expenses 27,500 35,000 total current assets 1,231,500 841,500 Long term investments 319,500 250,000 Prop, plant, equip net 2,575,000 2,000,000 Total assets 4,126,000 3,091,500 Liabilities Current Liabilities 342,000 285,000 Long term liabilities mortgage payable, 8% due 2013 600,000 Bonds payable 10%, due 2017 500,000 500,000 Total long term liabilities 1,100,000 500,000 Stockholders Equity Preferred 2.50 stock $100 par 500,000 500,000 common stock $20 par 800,000 800,000 retained earnings 1,384,000 1,006,500 total stockholders equity 2,684,000 2,306,500 Total liabilities stockholder equity4,126,000 3,091,500 Determine the following measures for 2008 rounding to one decimal place 1. Working capital 2. current ratio 3. quick ratio 4. accounts receivable turnover 5. number of days sales in receivables 6. inventory turnover 7. number of days sales in inventory 8. ratio of fixed assets to long term liabilities 9. ratio of liabilities to stockholders equity 10. number of times interest charges earned 11. number of times preferred dividends earned 12. ratio of net sales to assets 13. rate earned on total assets 14. rate earned on stockholders equity 15. rate earned on common stockholders equity 16. earnings per share on common stock 17. price earnings ratio 18. dividends per share of common stock 19. dividend yield
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