Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The comparative statements of Sunland Company are presented here. Sunland Company Balance Sheets December 31 begin{tabular}{|c|c|c|c|} hline multicolumn{3}{|c|}{begin{tabular}{c} Sunland Company Balance Sheets December

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The comparative statements of Sunland Company are presented here. Sunland Company Balance Sheets December 31 \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} Sunland Company \\ Balance Sheets \\ December 31 \end{tabular}} & \\ \hline Assets & 2022 & 2021 & \\ \hline \multicolumn{4}{|l|}{ Current assets } \\ \hline Cash & $59,100 & $65,000 & \\ \hline Debt investments (short-term) & 69,400 & 49,900 & \\ \hline Accounts receivable (net) & 117,100 & 102,600 & \\ \hline Inventory & 123,000 & 115,500 & \\ \hline Total current assets & 368,600 & 333,000 & \\ \hline Plant assets (net) & 602,000 & 521,600 & \\ \hline Total assets & $970,000 & $854,600 & \\ \hline \multicolumn{4}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline Current liabilities & & & \\ \hline Accounts payable & $159,600 & $144,900 & \\ \hline Income taxes payable & 43,100 & 42,400 & \\ \hline Total current liabilities & 202,700 & 187,300 & \\ \hline Bonds payable & 220,000 & 200,000 & \\ \hline Total liabilities & 422,700 & 387,300 & \\ \hline \end{tabular} All sales were on credit. Net cash provided by operating activities for 2022 was $3,37,000. Capital expenditures were $143,000, and cash dividends paid were $87.392. Compute the following ratios for 2022. (Round Eamings per share, Current ratio and Asset turnover to 2 decimal ploces, es, 1.65 or 1.65:1, and all other answers to 1 decimal place, es. 6.8 or 6.84 Use 365 doys for calculation)

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

Bookkeeping And Accounting For Beginners

Authors: D.K. Livingston

1st Edition

1686248598, 978-1686248597

More Books

Students also viewed these Accounting questions

Question

Describe the process of replacing bad habits with good ones.

Answered: 1 week ago

Question

Why do you think most employers opt for the home-based salary plan?

Answered: 1 week ago