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The comparative statements of Sheridan Company are presented here. Sheridan Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,810,300 $1,751,900
The comparative statements of Sheridan Company are presented here. Sheridan Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,810,300 $1,751,900 Cost of goods sold 1,006,500 981,000 Gross profit 803,800 770,900 Selling and administrative expenses 511,400 475,200 Income from operations 292,400 295,700 Other expenses and losses Interest expense 18,800 13,600 Income before income taxes 273,600 282,100 Income tax expense 81,342 76,500 Net income $ 192,258 $205,600 Sheridan Company Balance Sheets December 31 Assets Current assets Sheridan Company Balance Sheets December 31 2022 2021 Cash $59,000 $63,000 Debt investments (short-term) 69,300 49,200 Accounts receivable (net) 116,500 102,400 Inventory 122,200 114,500 Total current assets 367,000 329,100 Plant assets (net) 598,200 519,400 Total assets $965,200 $848,500 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,800 $145,500 Income taxes payable 42,800 41,700 Total current liabilities 203,600 187,200 Bonds payable 220,000 200,000 Total liabilities 423,600 387,200 Stockholders' equity Common stock ($5 par) 282.800 299.800 Stockholders' equity Common stock ($5 par) 282,800 299,800 Retained earnings 258,800 161,500 Total stockholders' equity 541,600 461,300 Total liabilities and stockholders' equity $965,200 $848,500 All sales were on credit. Net cash provided by operating activities for 2022 was $241,000. Capital expenditures were $127,000, and cash dividends paid were $94,958. 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 $ % do do % :1 (e) Accounts receivable turnover times days (f) Average collection period (g) Inventory turnover times days (f) Average collection period days (g) Inventory turnover times (h) Days in inventory (i) Times interest earned (j) Asset turnover (k) Debt to assets ratio (1) Free cash flow +A $ times times % do
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