Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The comparative statements of Sandhill Co. are presented here: begin{tabular}{|lrr|} hline multicolumn{2}{|c|}{SandhillCo.BalanceSheetsDecember31} hline Assets & 2020 & 2019 hline Current assets & $60,100

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The comparative statements of Sandhill Co. are presented here: \begin{tabular}{|lrr|} \hline \multicolumn{2}{|c|}{SandhillCo.BalanceSheetsDecember31} \\ \hline Assets & 2020 & 2019 \\ \hline Current assets & $60,100 & $64,200 \\ \hline Cash & 74,000 & 50,000 \\ \hline Debt investments (short-term) & 126,300 & 111,300 \\ \hline Accounts receivable & 127,200 & 116,700 \\ \hline Inventory & 387,600 & 342,200 \\ \hline Total current assets & 663,000 & 534,300 \\ \hline Plant assets (net) & $1,050,600 & $876,500 \\ \hline Total assets & & \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current liabilities Total assets $1,050,600$876,500 Liabilities and Stockholders' Equity Current liabilities \begin{tabular}{lrr} Accounts payable & $168,500 & $153,900 \\ Income taxes payable & 44,700 & 43,200 \\ \hline Total current liabilities & 213,200 & 197,100 \\ Bonds payable & 234,000 & 214,000 \\ Total liabilities & 447,200 & 411,100 \\ Stockholders'equity & & \\ Common stock (\$5 par) & 290,000 & 300,000 \\ Retained earnings & 313,400 & 165,400 \\ \hline Total stockholders' equity & 603,400 & 465,400 \\ \hline Total liabilities and stockholders' equity & $1,050,600 & $876,500 \\ \hline \end{tabular} Alisales were on account. Net cash provided by operating activities for 2020 was $221,000. Capital expenditures were $135,000, and cash dividends were 559,100 Compute the following ratios for 2020 . (Round free cash flow to 0 decimal places, e.s. 5,275 and all other answers to 2 decimal places, eg. 1.83 or 1.83%. Use 365 days for calculation. (b) Return on common stockholders' equity % (c) Returnonassets (d) Currentratio 1 (c) Accounts receivable turnover times (f) Average collection period days (B) Imventory tumover times (h) Days in inventory days (i) Times interest earned times (i) Asset turnover times (k) Debt to assets ratio (i] Free cashflow

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

3rd Edition

0730364577, 978-0730364573

More Books

Students also viewed these Accounting questions