Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The comparative statements of Oriole Company are presented here. Oriole Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,819,900
The comparative statements of Oriole Company are presented here. Oriole Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,819,900 $1,747,700 Cost of goods sold 1,011,600 993,000 Gross profit 808,300 754,700 Selling and administrative expenses 517,000 480,400 Income from operations 291,300 274,300 Other expenses and losses Interest expense 18,700 13,300 Income before income taxes 272,600 261,000 Income tax expense 83,213 76,000 Net income $ 189,387 $ 185,000 Assets Current assets Balance Sheets December 31 2022 2021 Cash $60,500 $63,300 Debt investments (short-term) 70,600 50,300 Accounts receivable (net) 116,100 101,700 Inventory 123,700 116,000 Total current assets 370,900 331,300 Plant assets (net) 596,600 524,300 Total assets $967,500 $855,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,800 $144,200 Income taxes payable 43,800 42,900 Total current liabilities 204,600 187,100 Bonds payable 220,000 200,000 Total liabilities 424,600 387,100 Stockholders' equity Common stock ($5 par) 276,200 297,700 Retained earnings 266,700 170,800 Total stockholders' equity 542,900 468,500 Total liabilities and stockholders' equity $967,500 $855,600 All sales were on credit. Net cash provided by operating activities for 2022 was $239,000. Capital expenditures were $135,000, and cash dividends paid were $93,487. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 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 (g) Inventory turnover (h) Days in inventory % % :1 times days times days times (i) Times interest earned times (j) Asset turnover (k) Debt to assets ratio % (I) Free cash flow eTextbook and Media
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