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Vision, Inc.'s comparative income statements and comparative balance sheets follow. Vision, Inc. Comparative Income Statements For the Years Ended December 31, 2014 and 2013 2014
Vision, Inc.'s comparative income statements and comparative balance sheets follow.
Vision, Inc. | |||
Comparative Income Statements | |||
For the Years Ended December 31, 2014 and 2013 | |||
2014 | 2013 | ||
Net sales | $360,000 | $290,000 | |
Cost of goods sold | 224,000 | 176,000 | |
Gross margin | $136,000 | $114,000 | |
Operating expenses | 80,000 | 60,000 | |
Operating income | $ 56,000 | $ 54,000 | |
Interest expense | 14,000 | 10,000 | |
Income before income taxes | $ 42,000 | $ 44,000 | |
Income taxes expense | 14,000 | 16,000 | |
Net income | $ 28,000 | $ 28,000 | |
Earnings per share | $ 2.80 | $ 2.80 | |
Vision, Inc. | |||
Comparative Balance Sheets | |||
December 31, 2014 and 2013 | |||
2014 | 2013 | ||
Assets | |||
Current assets | $ 48,000 | $ 40,000 | |
Property, plant, and equipment (net) | 260,000 | 200,000 | |
Total assets | $308,000 | $240,000 | |
Liabilities and Stockholders' Equity | |||
Current liabilities | $ 36,000 | $ 44,000 | |
Long-term liabilities | 180,000 | 120,000 | |
Stockholders' equity | 92,000 | 76,000 | |
Total liabilities and stockholders' equity | $308,000 | $240,000 |
Compute the cash flow yield, cash flows to sales, cash flows to assets, and free cash flow for 2013 and 2014. Net cash flows from operating activities were $42,000 in 2013 and $32,000 in 2014. Net capital expenditures were $60,000 in 2013 and $80,000 in 2014. Cash dividends were $12,000 in both years. Total assets in 2012 were $200,000. Round your answers to one decimal place. If required, use the minus sign to indicate a negative free cash flow.
2014 | 2013 | |||
Cash flow yield: | times | times | ||
Cash flows to sales: | % | % | ||
Cash flows to assets: | % | % | ||
Free cash flow: | $ | $ |
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