Question
The following financial statements apply to Bedford Appliances Inc Calculate the following ratios for 2019 by rounding to two decimal points: A. Working capital B.
The following financial statements apply to Bedford Appliances Inc
Calculate the following ratios for 2019 by rounding to two decimal points:
A. Working capital
B. Current ratio
C. Quick ratio
D. Accounts Receivable turnover
E. Average days to collect accounts receivable
F. Inventory Turnover
G. Average days to sell inventory
H. Debt to assets ratio
I. Debt to equity ratio
J. Times interest was earned
K. Plant assets to long-term debt
L. Net margin
M. Turnover of assets
N. Return on investment
O. Return on equity
P. Earnings per share
Q. Book value per share
R. Price-earnings ratio(market price: $13.26)
S. Dividend yield on common stock
BEDFORD APPLIANCES, INC. Balance Sheets As of December 31 2019 2018 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Investments Plant (net) Other Total assets $118,000 24.000 112,000 180,000 27,000 461,000 120,000 260.000 81,000 $922,000 $ 91,000 18,000 108,000 192,000 14.000 423,000 120.000 254,000 74.000 $871.000 continued 2019 2018 $ 20,000 80,000 66,000 166,000 $ 15.000 38,000 9.000 62.000 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Other Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock ($100 par, 4% cumulative, non- participating: $100 liquidating value: 1,000 shares authorized and issued; no dividends in arrears) Common stock (no par: 50,000 shares authorized; 12,000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 110.000 26,000 136,000 302.000 210.000 12.000 222.000 284,000 100,000 100.000 240,000 280,000 620,000 $922,000 240,000 247,000 587.000 $871.000 BEDFORD APPLIANCES, INC. Statements of income and Retained Earnings For the Years Ended December 31 2019 2018 $240,000 7,000 $230,000 4.000 234.000 247.000 Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative Bond interest expense Income tax expense Total expenses Net income Retained earnings, January 1 Less: Preferred stock dividends Common stock dividends Retained earnings, December 31 143,000 46,000 7,000 8,000 204,000 43,000 247,000 4,000 6,000 $280.000 130,000 57,000 10,000 14,000 211.000 23.000 234,000Step by Step Solution
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