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Year Net Income Total Assets Stockholders' Equity Total Debt 20X1 $ 155,000 $ 2,390,000 $ 761,000 $ 1,629,000 20X2 191,000 2,700,000 966,000 1,734,000 20X3 208,000
Year | Net Income | Total Assets | Stockholders' Equity | Total Debt | ||||
20X1 | $ | 155,000 | $ | 2,390,000 | $ | 761,000 | $ | 1,629,000 |
20X2 | 191,000 | 2,700,000 | 966,000 | 1,734,000 | ||||
20X3 | 208,000 | 2,730,000 | 1,770,000 | 960,000 | ||||
20X4 | 192,000 | 2,470,000 | 2,220,000 | 250,000 | ||||
Using the financial statements for the Snider Corporation, calculate the 13 basic ratios found in the chapter.
SNIDER CORPORATION Balance Sheet December 31, 20X1 | |||
Assets | |||
Current assets: | |||
Cash | $ | 52,200 | |
Marketable securities | 24,400 | ||
Accounts receivable (net) | 222,000 | ||
Inventory | 238,000 | ||
Total current assets | $ | 536,600 | |
Investments | 65,900 | ||
Plant and equipment. | $615,000 | ||
Less: Accumulated depreciation | 271,000 | ||
Net plant and equipment | 344,000 | ||
Total assets | $ | 946,500 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Accounts payable | $ | 93,400 | |
Notes payable | 70,600 | ||
Accrued taxes | 17,000 | ||
Total current liabilities | $ | 181,000 | |
Long-term liabilities: | |||
Bonds payable | 153,200 | ||
Total liabilities | $ | 334,200 | |
Stockholders' equity | |||
Preferred stock, $50 par value | $ | 100,000 | |
Common stock, $1 par value | 80,000 | ||
Capital paid in excess of par | 190,000 | ||
Retained earnings | 242,300 | ||
Total stockholders' equity | $ | 612,300 | |
Total liabilities and stockholders' equity | $ | 946,500 | |
SNIDER CORPORATION Income Statement For the Year Ending December 31, 20X1 | |||
Sales (on credit) | $ | 2,064,000 | |
Cost of goods sold | 1,313,000 | ||
Gross profit | $ | 751,000 | |
Selling and administrative expenses | 496,000 | * | |
Operating profit (EBIT) | $ | 255,000 | |
Interest expense | 26,900 | ||
Earnings before taxes (EBT) | $ | 228,100 | |
Taxes | 83,300 | ||
Earnings after taxes (EAT) | $ | 144,800 | |
*Includes $36,100 in lease payments.
Using the above financial statements for the Snider Corporation, calculate the following ratios.
a. Profitability ratios. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
b. Assets utilization ratios. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
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