The comparative statments of blossom company are presented here:
The comparative statements of Blossom Company are presented here: Blossom Company Income Statements For the Years Ended December 31 2019 2020 $1,899,640 $1,759,600 Net sales 1,067,640 1,015, 100 Cost of goods sold 744,500 832,000 Gross profit 488,100 509,100 Selling and administrative expenses 322,900 256,400 Income from operations Other expenses and losses 23,500 21,500 Interest expense 299,400 234,900 Income before income taxes 93,500 74,500 Income tax expense $205,900 $160,400 Net income Blossom Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Blossom Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 50,000 74,000 Accounts receivable 126,900 111,900 Inventory 127,500 117,000 Total current assets 388,500 343,100 Plant assets (net) 659,000 530,300 Total assets $1,047,500 $873,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $169,100 $154,500 Income taxes payable 45,000 43,500 Total current liabilities 214,100 198,000 Bonds payable 230,000 210,000 Total liabilities 444,100 408,000 Stockholders' equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total assets $1,047,500 $873,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $169,100 $154,500 Income taxes payable 45,000 43,500 Total current liabilities 214,100 198,000 Bonds payable 230,000 210.000 444,100 408.000 Total liabilities Stockholders' equity Common stock ($5 par) 290,000 300,000 165.400 313,400 Retained earnings 603,400 465,400 Total stockholders' equity Total liabilities and stockholders' equity $1,047,500 $873,400 All sales were on account. Net cash provided by operating activities for 2020 was $234,000. Capital expenditures were $137,000, and cash dividends were $57,900. Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.8. 1.83 or 1.83 %. Use 365 days for calculation.) 59000 (a) Earnings per share % 40.2 (b) Return on common stockholders' equity % 22.6 Returnon assets (c) 1.81 :1 Current ratio (d) All sales were on account. Net cash provided by operating activities for 2020 was $234,000. Capital expenditures were $137,000, and cash dividends were $57,900. Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share 59000 (b) Return on common stockholders' equity 40.2 % (c) Return on assets % 22.6 (d) Current ratio 1,81 :1 (e) Accounts receivable turnover times 113100 (f) Average collection period 21.8 days Inventory turnover (g) 8.73 times (h) Days in inventory days 42 Times interest earned 13.74 times (1) 102 times Asset turnover 4240 (k) Debt to assets ratio 193000 Free cash flow ()
