Question 2 of 6 Your answer is partially correct. The comparative statements of Oriole Company are presented here. 2021 $1.540.000 885.280 ORIOLE COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,660,400 Cost of goods sold 927,000 Gross profit 733.400 Selling and administrative expenses 440.000 Income from operations 293,400 Other expenses and losses Interest expense 19.360 Income before income taxes 274.040 Income tax expense 82.212 Net income $191,828 654,720 421,520 233.200 17,600 215.600 64.680 $ 150.920 Question 2 of 6 ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 $ 52,888 65,120 103,664 110,880 332.552 571.120 $ 56,496 44,000 90.464 101,640 292,600 457.864 $750,464 $903.672 Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders equity $ 140.800 38.280 179.080 193,600 372.680 $127.952 36,960 164.912 176,000 340.912 Question 2 of 6 $903,672 $750,464 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders equity $ 140,800 38,280 179,080 193,600 372,680 $127.952 36,960 164,912 176,000 340,912 255,200 275.792 530.992 $903.672 264.000 145,552 409,552 $750.464 All sales were on account. Net cash provided by operating activities for 2022 was $193 and cash dividends were $61.588. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.830 Earnings per share 3.76 mework 2 Question 2 of 6 > 3.76 (a) $ Earnings per share 40.79 se (b) Return on common stockholders' equity 23.19 Return on assets (c) % (d) Current ratio 1.86 :1 (e) Accounts receivable turnover 17.11 times Average collection period 21.33 days (8) Inventory turnover times (h) Days in inventory days (0) Times interest earned times Asset turnover times Debt to assets ratio Se Free cash flow S Question 2 of 6 Your answer is partially correct. The comparative statements of Oriole Company are presented here. 2021 $1.540.000 885.280 ORIOLE COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,660,400 Cost of goods sold 927,000 Gross profit 733.400 Selling and administrative expenses 440.000 Income from operations 293,400 Other expenses and losses Interest expense 19.360 Income before income taxes 274.040 Income tax expense 82.212 Net income $191,828 654,720 421,520 233.200 17,600 215.600 64.680 $ 150.920 Question 2 of 6 ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 $ 52,888 65,120 103,664 110,880 332.552 571.120 $ 56,496 44,000 90.464 101,640 292,600 457.864 $750,464 $903.672 Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders equity $ 140.800 38.280 179.080 193,600 372.680 $127.952 36,960 164.912 176,000 340.912 Question 2 of 6 $903,672 $750,464 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders equity $ 140,800 38,280 179,080 193,600 372,680 $127.952 36,960 164,912 176,000 340,912 255,200 275.792 530.992 $903.672 264.000 145,552 409,552 $750.464 All sales were on account. Net cash provided by operating activities for 2022 was $193 and cash dividends were $61.588. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.830 Earnings per share 3.76 mework 2 Question 2 of 6 > 3.76 (a) $ Earnings per share 40.79 se (b) Return on common stockholders' equity 23.19 Return on assets (c) % (d) Current ratio 1.86 :1 (e) Accounts receivable turnover 17.11 times Average collection period 21.33 days (8) Inventory turnover times (h) Days in inventory days (0) Times interest earned times Asset turnover times Debt to assets ratio Se Free cash flow S
