Question
The comparative statements of Crane Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other
The comparative statements of Crane Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Crane Company Income Statements For the Years Ended December 31 Interest expense Income before income taxes Income tax expense Net income Assets Current assets 2022 $1,813,600 1,013,400 800,200 514,800 285,400 17.400 268,000 78,019 $189,981 Crane Company Balance Sheets December 31 2022 40.000n 2021 $1,746,200 990,000 756,200 474,000 282,200 14,400 267,800 77.600 $190,200 2021 #417An
Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ( $5 par) $160,800$144,700 \begin{tabular}{ll} 43,500 & 41,800 \\ \hline 204,300 & 186,500 \end{tabular} \begin{tabular}{ll} 220,000 & 200,000 \\ \hline 424,300 & 386,500 \\ \hline \end{tabular} 275,600 300,100 168,200 All sales were on credit. Net cash provided by operating activities for 2022 was $230,000. Capital expenditures were $136,000, and cash dividends paid were $87,881. Compute the following ratios for 2022. (Round Eamings per share, Current ratio and Asset tumover to 2 decimal ploces, eg. 1.65 or 1.65:1, 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 (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period (8) Inventory turnover (h) Days in inventory (i) Times interest earned (j) Asset turnover (k) Debt to assets ratio (I) Freecash flow $ times days times days times times %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started