Question
The comparative statements of Ivanhoe Company are presented here. IVANHOE COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $1,901,880 $1,757,600
The comparative statements of Ivanhoe Company are presented here.
IVANHOE COMPANY Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Net sales | $1,901,880 | $1,757,600 | ||
Cost of goods sold | 1,064,445 | 1,013,100 | ||
Gross profit | 837,435 | 744,500 | ||
Selling and administrative expenses | 507,100 | 486,100 | ||
Income from operations | 330,335 | 258,400 | ||
Other expenses and losses | ||||
Interest expense | 23,600 | 21,600 | ||
Income before income taxes | 306,735 | 236,800 | ||
Income tax expense | 93,745 | 74,600 | ||
Net income | $ 212,990 | $ 162,200 |
IVANHOE COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
Assets | 2022 | 2021 | ||
Current assets | ||||
Cash | $ 59,704 | $ 64,200 | ||
Debt investments (short-term) | 74,000 | 50,000 | ||
Accounts receivable | 124,900 | 109,900 | ||
Inventory | 127,600 | 117,100 | ||
Total current assets | 386,204 | 341,200 | ||
Plant assets (net) | 664,000 | 535,300 | ||
Total assets | $1,050,204 | $876,500 | ||
Liabilities and Stockholders Equity | ||||
Current liabilities | ||||
Accounts payable | $ 167,100 | $152,500 | ||
Income taxes payable | 45,100 | 43,600 | ||
Total current liabilities | 212,200 | 196,100 | ||
Bonds payable | 235,000 | 215,000 | ||
Total liabilities | 447,200 | 411,100 | ||
Stockholders equity | ||||
Common stock ($5 par) | 290,000 | 300,000 | ||
Retained earnings | 313,004 | 165,400 | ||
Total stockholders equity | 603,004 | 465,400 | ||
Total liabilities and stockholders equity | $1,050,204 | $876,500 |
All sales were on account. Net cash provided by operating activities for 2022 was $224,565. Capital expenditures were $135,000, and cash dividends were $65,386. Compute the following ratios for 2022. (Round current ratio, earnings per share and asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%. Use 365 days in calculation.)
(a) | Earnings per share | $enter earnings per share in dollars rounded to 2 decimal places | ??? | ||
---|---|---|---|---|---|
(b) | Return on common stockholders equity | enter Return on common stockholders equity in percentages rounded to 1 decimal place | % ?? | ||
(c) | Return on assets | enter Return on assets in percentages rounded to 1 decimal place | % ?? | ||
(d) | Current ratio | enter Current ratio rounded to 2 decimal places | :1 ??? | ||
(e) | Accounts receivable turnover | enter a number of Accounts receivable turnover in times rounded to 1 decimal place | times ??? | ||
(f) | Average collection period | enter a number of Average collection period in days rounded to 1 decimal place | days ?? | ||
(g) | Inventory turnover | enter a number of Inventory turnover in times rounded to 1 decimal place | times ?? | ||
(h) | Days in inventory | enter a number of days in inventory rounded to 1 decimal place | days ??? | ||
(i) | Times interest earned | enter a number of times interest earned rounded to 1 decimal place | times ??? | ||
(j) | Asset turnover | enter a number of Asset turnover in times rounded to 2 decimal places | times ??? | ||
(k) | Debt to assets ratio | enter Debt to assets ratio in percentages rounded to 1 decimal place | % ?? | ||
(l) | Free cash flow | $enter Free cash flow in dollars | ???? |
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