Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 2-06A a-e Condensed balance sheet and income statement data for Sunland Company are presented as follows. Sunland Company Balance Sheets December 31 Assets Cash
Problem 2-06A a-e Condensed balance sheet and income statement data for Sunland Company are presented as follows. Sunland Company Balance Sheets December 31 Assets Cash 2022 $ 27,000 85,000 80,500 63,400 615,000 $ 870,900 2021 $ 20,300 58,500 73,000 59,600 468,000 679,400 Receivables (net) Other current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 77,000 78,000 339,000 376,900 $ 870,900 $ 69,000 98,000 298,500 213,900 $ 679,400 Sunland Company Income Statements For the Years Ended December 31 2022 Sales revenue $774,620 Cost of goods sold 456,000 Operating expenses (including income taxes) 248,000 Net income $ 70,620 2021 $691,600 405,000 229,000 $ 57,600 Additional information: Net cash provided by operating activities Cash used for capital expenditures Dividends paid Weighted average common shares outstanding $94,200 $47,500 $28,000 33,000 $55,000 $36,000 $13,500 30,000 Compute these values and ratios for 2021 and 2022. (Round Earnings per share to 2 decimal places, e.g. $2.78 and Current Ratio and Debt to assets ratio to 1 decimal place, e.g. 15.2. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2022 2021 (a) Earnings per share. $ $ (b) Working capital. $ $ (c) Current ratio. :1 :1 (d) Debt to assets ratio. % % (e) Free cash flow. $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started