Question
The condensed financial statements of Carla Vista Electronics for 2022 are presented below. Carla Vista Electronics Balance Sheet December 31, 2022 Assets Current assets Cash
The condensed financial statements of Carla Vista Electronics for 2022 are presented below.
Carla Vista Electronics Balance Sheet December 31, 2022 | ||
---|---|---|
Assets | ||
Current assets | ||
Cash and short-term investments | $24,000 | |
Accounts receivable | 30,720 | |
Inventories | 40,896 | |
Total current assets | 95,616 | |
Property, plant, and equipment (net) | 307,584 | |
Total assets | $403,200 | |
Liabilities and Stokholders' Equity | ||
Current liabilities | $57,600 | |
Long-term liabilities | 211,872 | |
Common stockholders equity | 133,728 | |
Total liabilities and stockholders equity | $403,200 |
Carla Vista Electronics Income Statement For the Year Ended December 31, 2022 | ||
---|---|---|
Revenues | $585,000 | |
Expenses | ||
Cost of goods sold | 338,400 | |
Selling and admin expenses | 135,000 | |
Interest expense | 27,000 | |
Total expenses | 500,400 | |
Income before income taxes | 84,600 | |
Income tax expense | 25,380 | |
Net income | $59,220 |
Additional data as of December 31, 2021: Inventory = $42,300; Total assets = $351,000; Common stockholders' equity = $99,000. Compute the following listed ratios for 2022. (Round answers to 2 decimal places, e.g. 1.83.)
1. | Current ratio | enter ratio rounded to 2 decimal places | : 1 | |||
---|---|---|---|---|---|---|
2. | Debt to assets ratio | enter percentages rounded to 2 decimal places | % | |||
3. | Times interest earned | enter a number of times rounded to 2 decimal places | times | |||
4. | Inventory turnover | enter a number of times rounded to 2 decimal places | times | |||
5. | Profit margin | enter percentages rounded to 2 decimal places | % | |||
6. | Return on common stockholders' equity | enter percentages rounded to 2 decimal places | % | |||
7. | Return on assets | enter percentages rounded to 2 decimal places | % |
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