Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The comparative statements of Swifty Company are presented here. Swifty Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,749,200 999,000
The comparative statements of Swifty Company are presented here. Swifty Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,749,200 999,000 $1.810,600 1.013,100 797,500 519,000 278,500 Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses 750,200 473,600 276,600 Interest expense 17.700 13,600 Income before income taxes 260,800 263,000 Income tax expense 82,891 77,700 Net income $ 177,909 $ 185,300 Swifty Company Balance Sheets December 31 Assets 2022 2021 Current assets Cash $59,800 $64,400 68,800 50.200 117,600 102,300 Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) 123,300 114,400 369,500 331,300 596,100 516.800 Total assets $965,600 $848,100 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities $160,900 $145,400 43,100 42,500 204,000 187.900 Bonds payable 220,000 200,000 Total liabilities 424,000 387.900 Stockholders' equity Common stock ($5 par) 276,500 297,400 265,100 162.800 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 541,600 460,200 $965,600 $848,100 All sales were on credit. Net cash provided by operating activities for 2022 was $208.000. Capital expenditures were $124.000, and cash dividends paid were $75,609. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 1.65:1, and all other answers to 1 decimal place, eg.6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $ (b) b Return on common stockholders' equity 96 (c) Return on assets 96 (d) Current ratio :1 le) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (0) Times interest earned times Asset turnover times (k) Debt to assets ratio 96 (0) Free cash flow $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started