Question
The comparative statements of Oriole Company are presented here. ORIOLE COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $ 1,895,280
The comparative statements of Oriole Company are presented here.
ORIOLE COMPANY Income Statements For the Years Ended December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Net sales | $ 1,895,280 | $ 1,759,400 | ||
Cost of goods sold | 1,063,575 | 1,014,900 | ||
Gross profit | 831,705 | 744,500 | ||
Selling and administrative expenses | 508,900 | 487,900 | ||
Income from operations | 322,805 | 256,600 | ||
Other expenses and losses | ||||
Interest expense | 23,500 | 21,500 | ||
Income before income taxes | 299,305 | 235,100 | ||
Income tax expense | 93,395 | 74,500 | ||
Net income | $ 205,910 | $ 160,600 |
ORIOLE COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
Assets | 2022 | 2021 | ||
Current assets | ||||
Cash | $ 61,098 | $ 64,200 | ||
Debt investments (short-term) | 74,000 | 50,000 | ||
Accounts receivable | 126,700 | 111,700 | ||
Inventory | 127,500 | 117,000 | ||
Total current assets | 389,298 | 342,900 | ||
Plant assets (net) | 662,000 | 533,300 | ||
Total assets | $ 1,051,298 | $ 876,200 | ||
Liabilities and Stockholders Equity | ||||
Current liabilities | ||||
Accounts payable | $ 168,900 | $ 154,300 | ||
Income taxes payable | 45,000 | 43,500 | ||
Total current liabilities | 213,900 | 197,800 | ||
Bonds payable | 233,000 | 213,000 | ||
Total liabilities | 446,900 | 410,800 | ||
Stockholders equity | ||||
Common stock ($5 par) | 290,000 | 300,000 | ||
Retained earnings | 314,398 | 165,400 | ||
Total stockholders equity | 604,398 | 465,400 | ||
Total liabilities and stockholders equity | $ 1,051,298 | $ 876,200 |
All sales were on account. Net cash provided by operating activities for 2022 was $ 242,903. Capital expenditures were $ 135,000, and cash dividends were $ 56,912. 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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