Question
The comparative statements of Cullumber Company are presented here: CULLUMBER COMPANY Income Statements For the Years Ended December 31 2019 2018 Net sales $1,899,240 $1,759,200
The comparative statements of Cullumber Company are presented here:
CULLUMBER COMPANY Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2019 | 2018 | |||
Net sales | $1,899,240 | $1,759,200 | ||
Cost of goods sold | 1,067,240 | 1,014,700 | ||
Gross profit | 832,000 | 744,500 | ||
Selling and administrative expenses | 508,700 | 487,700 | ||
Income from operations | 323,300 | 256,800 | ||
Other expenses and losses | ||||
Interest expense | 23,200 | 21,200 | ||
Income before income taxes | 300,100 | 235,600 | ||
Income tax expense | 93,200 | 74,200 | ||
Net income | $206,900 | $161,400 |
CULLUMBER COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
Assets | 2019 | 2018 | ||
Current assets | ||||
Cash | $60,100 | $64,200 | ||
Debt investments (short-term) | 74,000 | 50,000 | ||
Accounts receivable | 126,500 | 111,500 | ||
Inventory | 127,200 | 116,700 | ||
Total current assets | 387,800 | 342,400 | ||
Plant assets (net) | 663,000 | 534,300 | ||
Total assets | $1,050,800 | $876,700 | ||
Liabilities and Stockholders Equity | ||||
Current liabilities | ||||
Accounts payable | $168,700 | $154,100 | ||
Income taxes payable | 44,700 | 43,200 | ||
Total current liabilities | 213,400 | 197,300 | ||
Bonds payable | 234,000 | 214,000 | ||
Total liabilities | 447,400 | 411,300 | ||
Stockholders equity | ||||
Common stock ($5 par) | 290,000 | 300,000 | ||
Retained earnings | 313,400 | 165,400 | ||
Total stockholders equity | 603,400 | 465,400 | ||
Total liabilities and stockholders equity | $1,050,800 | $876,700 |
All sales were on account. Net cash provided by operating activities for 2019 was $246,000. Capital expenditures were $135,000, and cash dividends were $58,900. Compute the following ratios for 2019. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.)
(a) | Earnings per share | $enter a dollar amount | |||
---|---|---|---|---|---|
(b) | Return on common stockholders equity | enter percentages | % | ||
(c) | Return on assets | enter percentages | % | ||
(d) | Current ratio | enter current ratio | :1 | ||
(e) | Accounts receivable turnover | enter the Accounts receivable turnover | times | ||
(f) | Average collection period | enter a number of days | days | ||
(g) | Inventory turnover | enter the Inventory turnover | times | ||
(h) | Days in inventory | enter a number of days | days | ||
(i) | Times interest earned | enter the Times interest earned | times | ||
(j) | Asset turnover | enter the Asset turnover | times | ||
(k) | Debt to assets ratio | enter percentages | % | ||
(l) | Free cash flow | $enter a dollar amount rounded to 0 decimal places |
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