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The following are financial statements of Crane Company. Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,237,000 Cost of goods
The following are financial statements of Crane Company. Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,237,000 Cost of goods sold 1,019,000 Selling and administrative expenses 906,500 Interest expense 76,000 Income tax expense 69,500 Net income $166,000 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash $57,400 Debt investments 87,000 Accounts receivable (net) 169,400 Inventory 199,200 Total current assets 513,000 Plant assets (net) 573,000 Total assets $1,086,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable $158,000 Income taxes payable 32,000 Total current liabilities: 190,000 Bonds payable 195,530 Total liabilities 385,530 Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 352.000 348,470 700,470 $1,086,000 Total liabilities and stockholders' equity $1,086,000 Additional information: The net cash provided by operating activities for 2022 was $192,200. The cash used for capital expenditures was $87,500. The cash used for dividends was $30,700. The weighted-average common shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2022. (We provide the results from 2021 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, e.g. 15.25 and Debt to assets ratio to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (i) Working capital. (2021: $160,500) (ii) Current ratio. (2021: 1.65:1) (ii) Free cash flow. (2021: $48,700) (iv) 3 (v) Debt to assets ratio. (2021:31%) Earnings per share. (2021: $3.15) (i) Working capital $ (ii) (iii) Current ratio Free cash flow $ (lv) Debt to assets ratio (v) Earnings per share $ :1
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