Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

View Policies Current Attempt in Progress Selected financial information for WildhorseCorporation as of December are presented below. 2014 2013 Current assets $100,640 $77,000 Current liabilities

View Policies Current Attempt in Progress Selected financial information for WildhorseCorporation as of December are presented below. 2014 2013 Current assets $100,640 $77,000 Current liabilities Stockholders' equity 120,000 Total assets 42,000 35,000 106,000 300,000 270,000 Net sales and net income for 2014 were $450,000 and $36,000 respectively. Dividends of $4,000 were declared for common stockholders and $6,000for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholder equity. Compute the indicated ratios at December 31, 2014, or for the year ended December 31, 2014, as appropriate. (Round answers to decimal places, eg. 2.12) Net sales and net income for 2014 were $450,000 and $36,000 respectively. Dividends of $4,000 were declared for common stockholders and $6,000for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholders' equity. Compute the indicated ratios at December 31, 2014, or for the year ended December 31, 2014, as appropriate. (Round answers to 2 decimal places, eg. 2.12) 1. Return on assets 2. Profit margin 3. Payout ratio 4. Debt assets ratio 5. Current ratio 6. Return on common stockholders' equity * %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions