The LACAL Company Comparative Income Statement For Years Ended December 31, 2013 and 2012

Amounts

2013

2012

Net Sales

483,000

460,000

Cost of Goods Sold

255,990

230,000

Gross Profit on Sales

227,010

230,000

Operating Expenses

Selling Expenses

48,300

55,200

General and Administrative Expenses

19,320

36,800

Total Operating Expenses

67,620

92,000

Net Income Before Income Taxes

159,390

138,000

Income Tax Expense

47,817

34,500

Net Income After Income Taxes

111,573

103,500

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The LACAL Company Comparative Balance Sheet December 31, 2013 and 2012

Amounts

2013

2012

Assets

Current Assets

Cash

156,000

130,000

Accounts Receivable

260,000

160,000

Merchandise Inventory

221,000

200,000

Total Current Assets

637,000

490,000

Property, Plant, and Equipment

Land

195,000

120,000

Building and Equipment

468,000

390,000

Total Property, Plant, and Equipment

663,000

510,000

Total Assets

1,300,000

1,000,000

Liabilities and Stockholders' Equity

Current Liabilities

Accounts Payable

234,000

150,000

Other Payable

117,000

120,000

Total Current Liabilities

351,000

270,000

Long-Term Liabilities

Mortgage Payable

156,000

183,573

Total Long-Term Liabilities

156,000

183,573

Total Liabilities

507,000

453,573

Stockholders' Equity

Common Stock

156,000

120,000

Paid-in Capital Common Stock

299,000

200,000

Retained Earnings

338,000

226,427

Total Stockholders' Equity

793,000

546,427

Total Liabilities and Stockholders' Equity

1,300,000

1,000,000

3.

Calculate the inventory turnover for 2012 and 2013. (Do not round your intermediate calculations. Round your answer to 2 decimal places.)

4.

Calculate the return on sales for 2012 and 2013. (Round your answer to 1 decimal place.

5.

Calculate the earnings per share of common stock for 2012 and 2013. (Do not round your intermediate calculations. Round your answer to 2 decimal places.

8.	Calculate the ratio of stockholders equity to total equities for 2012 and 2013. (Round your answer to 3 decimal places.