Question
The comparative statements ofCarla Vista Co.are presented here. CARLA VISTA CO. Income Statements For the Years Ended December 31 2022 2021 Net sales$2,215,400 $2,065,000 Cost
The comparative statements ofCarla Vista Co.are presented here.
CARLA VISTA CO.
Income Statements
For the Years Ended December 31
2022
2021
Net sales$2,215,400
$2,065,000
Cost of goods sold1,227,000
1,207,200
Gross profit988,400
857,800
Selling and administrative expenses600,000
574,800
Income from operations388,400
283,000
Other expenses and lossesInterest expense26,400
24,000
Income before income taxes362,000
259,000
Income tax expense108,600
77,700
Net income$253,400
$181,300
CARLA VISTA CO.
Balance Sheets
December 31
Assets
2022
2021
Current assetsCash$72,120
$77,040
Debt investments (short-term)88,800
60,000
Accounts receivable141,360
123,360
Inventory151,200
138,600
Total current assets453,480
399,000
Plant assets (net)778,800
624,360
Total assets$1,232,280
$1,023,360
Liabilities and Stockholders' Equity
Current liabilitiesAccounts payable$192,000
$174,480
Income taxes payable52,200
50,400
Total current liabilities244,200
224,880
Bonds payable264,000
240,000
Total liabilities508,200
464,880
Stockholders' equityCommon stock ($5par)348,000
360,000
Retained earnings376,080
198,480
Total stockholders' equity724,080
558,480
Total liabilities and stockholders' equity$1,232,280
$1,023,360
All sales were on account. Net cash provided by operating activities for 2022 was $264,000. Capital expenditures were $163,200, and cash dividends were $75,800.
Compute the following ratios for 2022.(Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a)Earnings per share$ enter earnings per share in dollars
(b)Return on common stockholders' equity enter return on common stockholders' equity in percentages
%
(c)Return on assets enter return on assets in percentages
%
(d)Current ratio enter current ratio
:1
(e)Accounts receivable turnover enter accounts receivable turnover in times
times
(f)Average collection period enter average collection period in days
days
(g)Inventory turnover enter inventory turnover in times
times
(h)Days in inventory enter days in inventory
days
(i)Times interest earned enter times interest earned
times
(j)Asset turnover enter asset turnover in times
times
(k)Debt to assets ratio enter debt to assets ratio in percentages
%(l)Free cash flow$
enter free cash flow in dollars
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
10th edition
1259964949, 1259964947, 978-1259964947
