Question
very Instrument, Inc., is a manufacturer of various measuring and controlling instruments. Financial statement data for the firm are as follows: 2013 (Thousands of
very Instrument, Inc., is a manufacturer of various measuring and controlling instruments. Financial statement data for the firm are as follows:\ \ 2013\ (Thousands of Dollars,\ Except Earnings per Share)\ Sales revenue $210,000\ Cost of goods sold 125,000\ Net income 8,300\ Dividends 2,600\ Earnings per share 4.15\ \ \ AVERY INSTRUMENTS, INC.\ Balance Sheets\ (Thousands of Dollars)\ Dec. 31, 2013 Dec. 31, 2012\ Assets \ Cash $18,300 $18,000\ Accounts receivable (net) 46,000 41,000\ Inventory 39,500 43,700\ Total Current Assets 103,800 102,700\ Plant assets (net) 52,600 50,500\ Other assets 15,600 13,800\ Total Assets $172,000 $167,000\ Liabilities and Stockholders Equity \ Notes payablebanks $6,000 $6,000\ Accounts payable 22,500 18,700\ Accrued liabilities 16,500 21,000\ Total Current Liabilities 45,000 45,700\ 9% Bonds payable 40,000 40,000\ Total Liabilities 85,000 85,700\ Common stock, $25 par value (2,000,000 shares) 50,000 50,000\ Retained earnings 37,000 31,300\ Total Stockholders Equity 87,000 81,300\ Total Liabilities and Stockholders Equity $172,000 $167,000\ \ Required\ a. Using the given data, calculate items 1 through 8 below for 2013 for Avery Instruments, Inc. \ \ Round all answers to two decimal places.
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