Question
The comparative statements of Wildhorse Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other
The comparative statements of Wildhorse Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses
Income from operations Other expenses and losses WILDHORSE COMPANY Income Statements For the Years Ended December 31 Interest expense Income before income taxes Income tax expense Net income Assets Current assets 2027 $1,899,040 1,064,445 834,595 504,100 330,495 23,600 306,895 93,905 $212,990 WILDHORSE COMPANY Balance Sheets December 31 2027 2026 $1,754,600 1,010,100 744,500 483,100 261,400 21,600 239,800 74,600 $ 165,200 2026
Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ( $5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $164,100$149,500 \begin{tabular}{rrr} 45,100 & & 43,600 \\ \cline { 1 - 1 } 209,200 & & 193,100 \\ 231,000 & & 211,000 \\ \hline 440,200 & 404,100 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline 290,000 & 300,000 \\ \hline 312,636 & 165,400 \\ \hline 602,636 & 465,400 \\ \hline$1,04 & $869,500 \\ \hline \end{tabular} Question 4 of 4 WILDHORSE COMPANY Balance Sheets December 31 20272026 Assets Current assets Cash $59,336$64,200 Debt investments (short-term) 74,00050,000 Accounts receivable (net) 121,900106,900 Inventory Total current assets Plant assets (net) Total assets \begin{tabular}{crr} $1,042,836660,000 & $531,300 \\ \hline \hline \end{tabular} All sales were on credit. Net cash provided by operating activities for 2027 was $249,426. Capital expenditures were $135,000, and cash dividends paid were $65,754. Compute the following ratios for 2027. (Round current ratio, eamings per share and asset turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, es. 1.8 or 2.5%. Use 365 days in calculation.)
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