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The comparative statements of Sunland Company are presented here. Sunland Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,400 $1,745,900
The comparative statements of Sunland Company are presented here. Sunland Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,812,400 $1,745,900 Cost of goods sold 1,005,600 982,000 Gross profit 806,800 763,900 Selling and administrative expenses 518,600 479,200 Income from operations 288,200 284,700 Other expenses and losses Interest expense 18,500 14,600 Income before income taxes 269,700 270,100 Income tax expense 83,172 76,600 Net income $186,528 $193,500 Sunland Company Balance Sheets December 31 Assets Current assets Sunland Company Balance Sheets December 31 2022 2021 Cash $60,700 $64,300 Debt investments (short-term) 70,400 49,100 Accounts receivable (net) 116,800 101,000 Inventory 122,900 115,100 Total current assets 370,800 329,500 Plant assets (net) 600,400 519,700 Total assets $971,200 $849,200 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,500 $144,000 Income taxes payable 43,500 42,900 Total current liabilities 203,000 186,900 Bonds payable 220,000 200,000 Total liabilities 423,000 386,900 Stockholders' equity Common stock ($5 par) 281,600 301,300 Retained earnings 266,600 161,000 Total stockholders' equity 548,200 462,300 Total liabilities and stockholders' equity $971,200 $849,200 All sales were on credit. Net cash provided by operating activities for 2022 was $214,000. Capital expenditures were $130,000, and cash dividends paid were $80,928. 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 :1 (e) Accounts receivable turnover times (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 eTextbook and Media $ days times times %
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