Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wahlberg Company Income Statement For the Years Ended December 31 Assets 20202019 Current assets Liabilities and Stockholders' Equity. Current liabilities begin{tabular}{lrrr} Accounts payable & $159,200

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Wahlberg Company Income Statement For the Years Ended December 31 Assets 20202019 Current assets Liabilities and Stockholders' Equity. Current liabilities \begin{tabular}{lrrr} Accounts payable & $159,200 & & $144,800 \\ Income taxes payable & 43,800 & & 41,200 \\ \hline Total current liabilities & 203,000 & & 186,000 \\ Bonds payable & 220,000 & & 200,000 \\ \hline Total liabilities & 423,000 & & 386,000 \\ \hline \end{tabular} Stockholders' equity Accounts reccivable 117,100102,100 Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity. Current liabilities Accounts payable Income taxes payable Total current liabilities $967,400598,600$848,700519,300 Bonds payable Total liabilities Stockholders' equity Commonstock (\$5 par) 278,300299,200 $159,200$144,800 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $967,400544,400266,100462,700163,500 All sales were on account Net cash provided by operating activities for 2020 was $225,000. Capital expenditures were $141,000, and eash dividends were $82,200. Compute the following ratios for 2020. (Round Eaminss per share, Qurrent rutio and Asset tumovik to 2 declmal pleces, eg 1.65 or 1.65:1. and all other answers to 1 decimal place, 29,6.8 or 6.8%. Use 365 doys for calculation) (d) Currentratio : 1 (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio \% (I) Free cash flow $

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

Question

10. Describe the relationship between communication and power.

Answered: 1 week ago