Question
The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales$1,812,700$1,746,500Cost of goods
The comparative statements of Wahlberg Company are presented here.
Wahlberg Company
Income Statement
For the Years Ended December 31
2020
2019
Net sales$1,812,700$1,746,500Cost of goods sold1,007,700981,000Gross profit805,000765,500Selling and administrative expenses516,800477,000Income from operations288,200288,500Other expenses and lossesInterest expense18,40013,600Income before income taxes269,800274,900Income tax expense82,40877,000Net income$187,392$197,900
Wahlberg Company
Balance Sheets
December 31
Assets
2020
2019
Current assetsCash$59,100$65,000Debt investments (short-term)
69,40049,900Accounts receivable117,100102,600Inventory123,000115,500Total current assets368,600333,000Plant assets (net)602,000521,600Total assets$970,600$854,600Liabilities and Stockholders' Equity
Current liabilitiesAccounts payable$159,600$144,900Income taxes payable43,10042,400Total current liabilities202,700187,300Bonds payable220,000200,000Total liabilities422,700387,300Stockholders' equityCommon stock ($5 par)283,100302,500Retained earnings264,800164,800Total stockholders' equity547,900467,300Total liabilities and stockholders' equity$970,600$854,600
All sales were on account. Net cash provided by operating activities for 2020 was $237,000. Capital expenditures were $143,000, and cash dividends were $87,392.
Compute the following ratios for 2020.(Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)
(a)Earnings per share$
(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
days
(i)Times interest earned
times
(j)Asset turnover
times
(k)Debt to assets ratio
%
(l)Free cash flow$
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