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The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,226,500 Cost of
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,226,500 Cost of goods sold 1,017,500 Selling and administrative expenses 908,500 Interest expense 83,000 Income tax expense 68,500 Net income $ 149,000 MELJ Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $55,700 Debt investments 87,000 Accounts receivable (net) 168,200 Inventory 282,325 Total current assets 593,225 Plant assets (net) 572,500 Total assets $1,165,725 Liabilities and Stockholders' Equity Current liabilities Liabilities and Stockholders' Equity Current liabilities Accounts payable $162,500 Income taxes payable 32,000 Total current liabilities 194,500 Bonds payable 239,150 Total liabilities 433,650 Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 356,000 376,075 732,075 $1,165,725 Additional information: The net cash provided by operating activities for 2022 was $191,300. The cash used for capital expenditures was $87,000. The cash used for dividends was $30,200. 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, eg. 15.25 and Debt to assets ratio to 1 decimal place, e. 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) (65) Current ratio. (2021: 1.65:1) (iii) Free cash flow. (2021: $48,700) (iv) Debt to assets ratio. (2021: 31%) (v) Earnings per share. (2021: $3.15) (v) Earnings per share. (2021: $3.15) (i) Working capital $ (ii) Current ratio :1 (iii) Free cash flow $ (iv) Debt to assets ratio % (v) Earnings per share SA $
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