Question
The comparative statements of Crane Company are presented here. CRANE COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $2,363,400 $2,205,000
The comparative statements of Crane Company are presented here.
CRANE COMPANY Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Net sales | $2,363,400 | $2,205,000 | ||
Cost of goods sold | 1,307,000 | 1,287,680 | ||
Gross profit | 1,056,400 | 917,320 | ||
Selling and administrative expenses | 640,000 | 613,120 | ||
Income from operations | 416,400 | 304,200 | ||
Other expenses and losses | ||||
Interest expense | 28,160 | 25,600 | ||
Income before income taxes | 388,240 | 278,600 | ||
Income tax expense | 116,472 | 83,580 | ||
Net income | $ 271,768 | $ 195,020 |
CRANE COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
Assets | 2022 | 2021 | ||
Current assets | ||||
Cash | $ 76,928 | $ 82,176 | ||
Debt investments (short-term) | 94,720 | 64,000 | ||
Accounts receivable | 150,784 | 131,584 | ||
Inventory | 161,280 | 147,840 | ||
Total current assets | 483,712 | 425,600 | ||
Plant assets (net) | 830,720 | 665,984 | ||
Total assets | $1,314,432 | $1,091,584 | ||
Liabilities and Stockholders Equity | ||||
Current liabilities | ||||
Accounts payable | $ 204,800 | $186,112 | ||
Income taxes payable | 55,680 | 53,760 | ||
Total current liabilities | 260,480 | 239,872 | ||
Bonds payable | 281,600 | 256,000 | ||
Total liabilities | 542,080 | 495,872 | ||
Stockholders equity | ||||
Common stock ($5 par) | 371,200 | 384,000 | ||
Retained earnings | 401,152 | 211,712 | ||
Total stockholders equity | 772,352 | 595,712 | ||
Total liabilities and stockholders equity | $1,314,432 | $1,091,584 |
All sales were on account. Net cash provided by operating activities for 2022 was $281,600. Capital expenditures were $174,080, and cash dividends were $82,328. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a) | Earnings per share | $enter earnings per share in dollars | |||
(b) | Return on common stockholders equity | enter return on common stockholders equity in percentages | % | ||
(c) | Return on assets | enter return on assets in percentages | % | ||
(d) | Current ratio | enter current ratio | :1 | ||
(e) | Accounts receivable turnover | enter accounts receivable turnover in times | times | ||
(f) | Average collection period | enter average collection period in days | days | ||
(g) | Inventory turnover | enter inventory turnover in times | times | ||
(h) | Days in inventory | enter days in inventory | days | ||
(i) | Times interest earned | enter times interest earned | times | ||
(j) | Asset turnover | enter asset turnover in times | times | ||
(k) | Debt to assets ratio | enter debt to assets ratio in percentages | % | ||
(l) | Free cash flow | $enter free cash flow in dollars |
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