Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 sold 1,227,000 1,207,200

Gross profit 988,400 857,800

Selling and administrative expenses 600,000 574,800

Income from operations 388,400 283,000

Other expenses and losses

Interest expense 26,400 24,000

Income before income taxes 362,000 259,000

Income tax expense 108,600 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 receivable 141,360 123,360

Inventory 151,200 138,600

Total current assets 453,480 399,000

Plant assets (net) 778,800 624,360

Total assets $1,232,280 $1,023,360

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $192,000 $174,480

Income taxes payable 52,200 50,400

Total current liabilities 244,200 224,880

Bonds payable 264,000 240,000

Total liabilities 508,200 464,880

Stockholders' equityCommon stock ($5par) 348,000 360,000

Retained earnings 376,080 198,480

Total stockholders' equity 724,080 558,480

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 $

(b)Return on common stockholders' equity times

(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 $

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_2

Step: 3

blur-text-image_3

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

Asymmetric Cost Behavior Implications For The Credit And Financial Risk Of A Firm

Authors: Kristina Reimer

1st Edition

3658228210, 9783658228217

More Books

Students also viewed these Accounting questions