The comparative statements of Flintstone Company are shown below. All sales were on account. Net cash provided
Question:
The comparative statements of Flintstone Company are shown below.
All sales were on account. Net cash provided by operating activities was $114,000. Capital expenditures were $47,000, and cash dividends were $55,000.
Instructions
Compute the following ratios for 2010.
(a) Earnings per share.
(b) Return on common stockholders' equity.
(c) Return on assets.
(d) Current.
(e) Receivables turnover.
(f) Average collection period.
(g) Inventory turnover.
(h) Days in inventory.
(i) Times interest earned.
(j) Asset turnover.
(k) Debt to total assets.
(l) Current cash debt coverage.
(m) Cash debt coverage.
(n) Free cashflow.
Transcribed Image Text:
FLINTSTONE COMPANY Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expense Income from operations Other expenses and losses 2010 $780,000 440,000 340,000 146,880 193,120 2009 624,000 405,600 218,400 149,760 68,640 Interest expense Income before income taxes Income tax expense Net income 7.200 61,440 14,000 47 440 9,920 183,200 42,000 $141,200 FLINTSTONE COMPANY Balance Sheets December 31 Assets 2010 2009 Current assets Cash Short-term investments Accounts receivable Inventory S 23,100 44,800 106,200 116,400 290,500 485,300 775,800 21,600 33,000 83,800 74,000 212,400 439,600 652,000 Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equit Current liabilities 2010 2009 Accounts payable Income taxes payable $148,200 25,300 173,500 132,000 305,500 $132,000 24,000 156,000 120,000 276,000 Total current liabilities Bonds payable Total liabilities Stockholders' equity Retained earnings Common stock ($10 par) 130,000 246,000 376,000 $652,000 140,000 330,300 470,300 $775,800 Total stockholders equity Total liabilities and stockholders' equity
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (19 reviews)
a Earnings per share 1046 1 13000 14000 2 b Return on comm...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Accounting Tools For Business Decision Making
ISBN: 9780470377857
3rd Edition
Authors: Paul D. Kimmel
Question Posted:
Students also viewed these Accounting questions
-
In 2014, Elbert Corporation had net cash provided by operating activities of $531,000; net cash used by investing activities of $963,000; and net cash provided by financing activities of $585,000. At...
-
The computation of cash provided by operating activities requires analysis of the noncash current asset and current liability accounts. Determine the missing amounts for each of the following...
-
Hinck Corporation reported net cash provided by operating activities of $360,000, net cash used by investing activities of $250,000, and net cash provided by financing activities of $70,000. In...
-
Explain how an antibody is able to recognize a specific antigen. (Include an explanation of an epitope in your answer.)
-
Give the general journal entries on September 30 to record the following: 1. Transfer of product from the Fab department to the finishing department 2. Transfer of finished goods from the finishing...
-
A sample of 12 in-state graduate school programs at school A has a mean tuition of \($64,000\) with a standard deviation of \($8,000\). At school B, a sample of 16 in-state graduate programs has a...
-
Create a Windows Forms application. Use the following names for the project and solution, respectively: Customer Project and Customer Solution. Save the application in the VB2017\Chap09 folder. a....
-
The following are selected transactions of Karolina Company. Karolina prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Pavel Company, $20,000, terms 2/10, n/30....
-
Kangaroo Company had the following account balances for a period: Retained Earnings $ 3 0 0 , 0 0 0 Inventory $ 2 5 , 0 0 0 Revenue $ 2 0 0 , 0 0 0 Salary Expense $ 7 0 , 0 0 0 Accounts Payable $ 3 0...
-
The rod OB slides through the collar pivoted to the rotating link at A. If CA has an angular velocity = 3 rad/s for an interval of motion, calculate the angular velocity of OB when = 45. CA = 200...
-
Here are comparative statement data for Clark Company and Kent Company, two competitors. All balance sheet data are as of December 31, 2010, and December 31, 2009. Instructions (a) Prepare a vertical...
-
The condensed balance sheet and income statement data for Cardinal Corporation are presented below. Additional information: 1. The market price of Cardinal common stock was $5.00, $3.50, and $2.30...
-
The benefit of naturalistic observation studies is ________. a. The honesty of the data that is collected in a realistic setting b. How quick and easy these studies are to perform c. The researchers...
-
Q. Probabilities of three teams A, B and C of winning the first prize of a business case competition are 3/9, 2/9, 3/9 respectively. These three teams are equally likely to win the prize. True False...
-
Univex is a calendar year, accrual basis retail business. Univex hold less than 20% of IBM stock. Its financial statements provide the following information for the year: Revenues from sales of goods...
-
Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2023, and the related month-end adjustment data. (Click the icon to view the month-end adjustment data.) Requirements 1....
-
5.3 BEP Example Bill Braddock is considering opening a Fast 'n Clean Car Service Center. He estimates that the following costs will be incurred during his first year of operations: Rent $9,200,...
-
The following is the text for an opinion on internal control for W Company, an issuer. Some words or phrases have been replaced with numbers (e.g., [1], [2], etc.). Select from the option list...
-
What is meant by the statement, an integrative model of leadership has three major parts: (1) the leader, (2) the followers, and (3) the situation? LO1.
-
a) Show that (a, b) := {{a}, {b}} does not satisfy the ordered pair axiom. b) Determine whether each of the following statements is true or false. (Give a reason in each case): (i) {a, b} C (a, b)....
-
Referring to the case study, which subsystems would you develop using an Agile model? Be specific as to which model you would choose and why. List any advantages or disadvantages that will result...
-
Douglas Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process-Cutting $2,900, Work in Process-Assembly $10,600, and...
-
In Ramirez Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing...
-
The Cutting Department of Groneman Manufacturing has the following production and cost data for July. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly...
-
The Regal Cycle Company manufactures three types of bicyclesa dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: Total Dirt Bikes Mountain Bikes...
-
?? A local college is deciding whether to conduct a campus beautification initiative that would imvolve various projects, such as planting trees and remodeling bulidings, to make the campus more...
-
A company has net income of $196,000, a profit margin of 9.7 percent, and an accounts receivable balance of $135,370. Assuming 70 percent of sales are on credit, what is the companys days sales in...
Study smarter with the SolutionInn App